Confidence is crucial to entrepreneurial success as you have to convince investors to back you, customers to try a new product or service, and employees to join an uncertain venture. This can create an image of the ideal entrepreneur as one who is able to talk convincingly about their business and persuade others of its merits.

While this may indeed be an invaluable skill, research from NC State suggests that listening is a more useful skill for entrepreneurs. Our disposition towards entrepreneurs with the gift of the gab is perhaps driven by media representations of entrepreneurship, such as the Shark Tank, whereby the most successful entrepreneurs are those who can confidently articulate their vision to investors.

A step back

The researchers argue, however, that the more meaningful work is usually done before the pitch takes place, which is when the entrepreneur listens and solicits feedback from as many people as possible. This results in the entrepreneur being better equipped to grow their business and thrive in the long term.

This shouldn’t be something that is purely the founder’s responsibility either, as an enterprise-wide listening capability enables companies to take in a much wider range of feedback from customers and other stakeholders.

Startup accelerators often emphasize the importance of listening—whether to customers, mentors, or investors. But turning that listening into action is no small feat for entrepreneurs. Founders must juggle running their business with gathering critical insights, a tough balance for small teams with limited time and resources.

Lack of information

Entrepreneurs face countless choices, but they rarely have enough information to know which path will lead to success. Accelerators guide founders through refining their pitch—not just for the sake of presenting it, but as a process of learning. The pitch becomes a reflection of their journey, sparking conversations with stakeholders that can extend long beyond demo day.

Those who treat the pitch as the end goal miss the point. It’s not about the presentation itself but about engaging mentors, investors, and others to gather feedback, build relationships, and secure support. Founders who hone their ability to listen—and foster a culture of listening within their ventures—are more likely to succeed because they understand that entrepreneurship is a dialogue, not a monologue.

Listening also signals coachability, a trait highly valued by investors. In the startup world, there’s an old saying: “If you want advice, ask for money. If you want money, ask for advice.” Investors are more inclined to back founders who are open to learning and eager to absorb insights.

In the end, startups thrive not just on bold ideas but on the ability to listen, adapt, and grow. For founders, the most powerful pitch is the one that proves they’re always willing to learn.