Andrea T. Orlando, managing partner of Startup Wise Guys for Italy, on the occasion of the publication of the 2024 edition of the map of the Italian startup ecosystem, makes an analysis of the meaning of doing business in our country. Embarking on the winding road of entrepreneurship in Italy is like embarking on a deeply personal journey. Believe me. Often we investors are also psychologists and we have the privilege and unique opportunity to witness up close what the entrepreneurs, our founders, go through emotionally. In the bustling alleys of Milan or in the tranquil beauty of the Tuscan countryside, Italian entrepreneurs intertwine their dreams with the surrounding fabric. It is a journey marked by intimate challenges and whispered opportunities, where each step gives shape not only to a feat, but to the narrative of a life. Join us to discover the essence of what it truly means to thrive as an entrepreneur amidst the rich tapestry of Italian landscapes and culture. Here is a list of features that every entrepreneur in Italy should have: 1. Liver: Entrepreneurship requires courage. Heck, it’s the main feature. You could have been anywhere else in the world leading a comfortable life. But you’ve decided to be an entrepreneur. This is already a symptom of the courage it takes. Taking risks, pursuing unconventional ideas, and stepping out of your comfort zone are intrinsic characteristics of the entrepreneurial spirit. Italian entrepreneurs must have the courage to pursue their dreams relentlessly, even in the face of uncertainty, more than anyone else. Because? Because this country is as beautiful as it is bad and because success is sometimes not well perceived in this society. 2. Patience and self-control: the Italian entrepreneurial landscape often moves at its own pace. Success rarely comes overnight. Patience is not just a virtue, it is a necessity. Whether it’s overcoming bureaucratic hurdles or building lasting relationships, entrepreneurs in Italy must cultivate patience to get through the ups and downs of their journey. Does a VC tell you “no”? Patience. Can’t the notary fix the deed next week? Patience. A corporate customer? Is the three-week postponement the last call? Patience. Patience. Patience 3. Grit: Italian entrepreneurs need resilience in abundance. From the economic crisis to fierce competition, setbacks are inevitable. Grit is what separates those who persevere from those who falter. Don’t give up. Not yet. Embracing challenges as opportunities for growth and overcoming adversity is critical to success. Now, if you have grit while keeping your smile, that’s a trait I want to see in a founder. 4. Empathy: Italians are known for their warmth and hospitality. However, the world of financial advisors can turn you into a delusional and selfish bastard with a cold heart. Don’t do it. Open your heart to empathy, one of the most powerful tools for entrepreneurs. Understanding the needs and wants of customers, employees, and stakeholders is critical to building meaningful connections and driving sustainable growth. And that’s not all. If you use empathy towards external stakeholders, you will start a culture of empathy within your team. No blame-shifting. No finger pointing. This is the company you want to build. 5. Pentathlon skill: in Italy, perhaps more than anywhere else, entrepreneurship often feels like a mental and emotional pentathlon. It requires a multifaceted approach that includes strategic thinking, problem-solving, communication skills, leadership, and adaptability, but not limited to. You need to know how to move in different technical disciplines. From accounting to programming, from marketing to sales strategy. Because? Because more often than not, you will be asked to provide support and leadership in any industry your company is engaged in. There will be no one else to do it 6. Constructive attitude: Positivity is contagious, and in the face of challenges, maintaining a constructive attitude can make all the difference. We Italians have a tendency to talk badly behind people’s backs. I’ve lived abroad for so many years and haven’t seen any other culture behave like this. But that’s not how a founder should behave. Viewing setbacks as opportunities for learning and growth fosters resilience and innovation, not as an opportunity to blame others. 7. Being nice doesn’t mean being a sucker: the importance of assertiveness and shrewdness in business relationships is fundamental. Being kind and respectful doesn’t mean being naïve. I’ve learned, over time, to lend a hand, but there’s a phrase my father once said to me that gets the idea right: “If it’s out of your hand, it deserves freedom from your mind too.” 8. Adaptability: The only constant in entrepreneurship is change. Being adaptable and flexible means being Italian at your best. I think that’s why we’re known all over the world. Don’t be punctual. Not to be hierarchically flat. Not for efficiency. We are known because we are able to work in any situation. Italian entrepreneurs must embrace flexibility and adaptability to thrive in a dynamic environment. Whether responding to market changes or technological advancements, the ability to change and evolve is key to staying relevant and competitive. 9. Build a personal advisory board It made a big difference to me. When I needed support in the darkest of times, I built a network of mentors, advisors, and colleagues who provided me with invaluable support and guidance on my entrepreneurial journey. Tapping into diverse perspectives and skills helps entrepreneurs make informed decisions and address challenges more effectively. Choose from your friends, classmates, and former colleagues. You need someone who knows you well but isn’t too biased about what you do. That he treats you with kindness but is also brutally honest when necessary. 10. Knowing how to read a room you enter: In a culture rich in history, art and tradition, Italian entrepreneurs possess a unique advantage: knowing how to read the room. Understanding social cues, reading between the lines, and navigating the nuances of interactions are skills honed in Italy’s vibrant social fabric. What else? I almost forgot. The following is not a must-have feature. In fact, sometimes, the possession of this characteristic could even label you as a bit anomalous, a misfit. However, it’s an integral part of who I am as an entrepreneur and I can’t help but emphasize its importance: culture. Entrepreneurs who immerse themselves in literature, traverse the world, search for the right words to express themselves, and embrace different cultures, don’t just build companies, but create living, breathing entities that resonate deeply with the human experience. Being larger than life can’t just mean building a 100 million euro company that in a few hundred years will be no more than a few millimetres of dust. Building a legacy, however, will survive the heartless judgment of time; So read, study, take care of your mind and soul. Culture instills empathy, understanding, and a global perspective into our businesses, empowering you and us to create businesses that transcend borders and connect on a deep level with people from all walks of life. (At this
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