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What Kira Graves Wants You to Know About the Psychology of Entrepreneurship

A good majority of people have a natural tendency to engage in creative behavior and pursue self-realization. More creative individuals share similar characteristics such as curiosity, and adventurism, or being open to challenges and being highly imaginative. In most instances, people’s creative stance and approach is largely associated with either their personality or mindset. Kira Graves considers entrepreneurship as a creative undertaking that can best be understood by exploring the principles of psychology. According to a report published by the Global Entrepreneurship Monitor 2019/2020, there are more than 54 million people running or starting a business they owned or managed during 2019. This represents nearly 27% of the working-age adults in the country. A critique of this statistic reveals that more people are venturing into the realm of entrepreneurship; but how does one sustain their relevance and actualize success once fully established?

Kira Graves is a professional psychologist, life coach, world traveler, and serial entrepreneur. She is the founder of Kira Graves Consulting, an establishment that helps clients deal with psychological related problems that compel them to daunting experiences. Over the years, Kira Graves has interacted with successful entrepreneurs, and common traits tend to be apparent with most of them. The primary cue that ascertains their endeavors is that they approach business activities from a multi-dimensional perspective. This, more often than not, helps them to thrive in entrepreneurship, and reap positive outcomes.

The theory of achievement motivation is an analogy that Kira Graves would like upcoming and established entrepreneurs to know about. It states that entrepreneurs are usually classified on the basis of their need for achievement. In most instances, they work in a structured and creative way, approaches that enable them to make better decisions, especially during predicaments. Kira Graves reiterates that entrepreneurs can learn to be motivated, and all they need is to initiate and forge affiliations with people who inspire them to be great, achieve predetermined business goals, and experience more power in their respective undertakings. These motivators are directly proportional to their culture and life experiences. Entrepreneurs can use these psychological motivators to not only influence their own performance but that of their employees.

Kira Graves says that it is almost impossible for a creative entrepreneur to excel without confidence. She refers to Rotter’s locus of control theory which postulates that people with higher tendency towards risks are more likely to become entrepreneurs. However, a person needs to have a high internal locus of control where they constantly believe in their capabilities, actions, and fortune. Kira Graves points out that entrepreneurs with these attributes exemplify confidence, and success is an inevitable outcome. However, she warns that entrepreneurs who are overly confident can easily be misunderstood by others, and this might be interpreted as egotistical. This is why confidence should always be paired with a sense of high self-awareness. Kira Graves advises entrepreneurs to make an honest assessment of their habits, temperament, and how their interpersonal dynamics work for them.

A multi-dimensional approach to entrepreneurship will not only guarantee success but also enlighten an entrepreneur about aspects that can improve their mentality and behavioral approach as a human being. Psychology can give them a unique perspective of how the mind works including strategies that can prompt them to be more confident and motivated. It is important for them to understand their tolerance for risk and inevitable demands for risk-taking. Kira Graves reiterates “it is about balance in everything!”.

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