Intelligence isn't enough: Multi-million dollar startup co-founder reveals surprising skills and traits that drive true career success

When it comes to building a successful business, intelligence alone is not enough. Shanaz Hemmati, co-founder of the $1.7 billion AI startup ZenBusiness, says the true differentiators for entrepreneurs are perseverance and adaptability. Her insights, drawn from years of navigating multibillion-dollar startups, offer a roadmap for anyone aiming to turn ideas into thriving ventures.

Perseverance: Power Through the Pain
Hemmati stresses that building a business is never easy. “First, understanding that it’s hard, it’s not easy,” she told CNBC Make It. “It takes perseverance. It takes work. It takes constant learning.”

The journey of entrepreneurship inevitably comes with obstacles, setbacks, and unexpected failures. Hemmati advises aspiring founders to view these moments as learning opportunities rather than roadblocks. “Don’t ever think of it as a failure,” she says. “Think about all the learnings and apply them next time. Once you’re an entrepreneur, you’re an entrepreneur for life.”

Nvidia co-founder Jensen Huang echoes this sentiment, emphasizing that greatness stems from character, not intelligence. “Character isn’t formed out of smart people, it’s formed out of people who suffered,” Huang told students at Stanford University in May 2024.

Adaptability: The Art of the Pivot
Alongside perseverance, Hemmati highlights adaptability as a core skill. Entrepreneurs must recognize when a strategy isn’t working and adjust quickly. “Being willing to change very quickly and trying different things is a big difference between those who succeed versus those who do not,” she explains.

The Covid-19 pandemic offered a vivid lesson in the power of pivoting. Many businesses had to rethink entire models to survive. Successful leaders, Hemmati notes, are those who respond rapidly without waiting for a “perfect” solution. “If you’re thinking about it, probably there are other people thinking about it too. The sooner you can act, the faster you’ll learn what works,” she says.

Listening to Customers: Research Before Launch
Before launching ZenBusiness in 2017, Hemmati and co-founder Ross Buhrdorf spent nearly a year conducting in-depth research. They interviewed 50 to 100 prospective customers to understand pain points around legal compliance and business formation. These conversations helped them target first-time business owners who needed guidance navigating complex regulatory processes.

“We ran design sprints, tested packages, pricing, and even built websites and refunded early sign-ups just to see what resonated,” Hemmati recalls. This customer-focused approach proved essential in building a product that addressed real needs rather than assumptions.

Balancing Persistence and Flexibility
Hemmati acknowledges the tension between staying the course and embracing change. Entrepreneurs often struggle with stubbornness or fear of deviating from their original plan. “There is a huge difference between those with a rigid mindset and those who are truly open and think through their options,” she says. Striking the balance between perseverance and adaptability can ultimately determine whether a startup thrives or falters.

The takeaway for new business owners is clear. Success is less about innate intelligence and more about character, resilience, and responsiveness. By persevering through setbacks, staying adaptable, and listening closely to customers, founders can navigate the unpredictable world of startups with greater confidence and a higher chance of success.