Nowadays it seems like everyone wants to be their own boss. Many people believe they have what it takes to be an entrepreneur. They believe they possess the ability to create something innovative from the ground up. Do they possess the entrepreneurial personality traits necessary to be successful?
Entrepreneurial Personality Traits
Moreover, many studies have been performed examining the entrepreneurial personality traits. When examining personality traits, the common model used is the Big 5 model: openness to experience, conscientiousness, Extraversion, Agreeableness, and neuroticism.
The personality traits and behaviors of entrepreneurs vary from person to person. In a study performed by researchers examining entrepreneurial passion and personality. The study showed that when examining entrepreneurial personality, excluding the Big Five traits, behavior and passion varied.
Self-efficacy believing and knowing you can overcome any adversity you face. This is important to possess as an entrepreneur because you likely will face much adversity. A study performed by Cassar and Friedsman (2009) showed that new entrepreneurs who actively worked on their new business for 12 months presented high self-efficacy. Most researchers are interested in the relationship between personality traits and the success of the business.
I believe there are four important entrepreneurial personality traits that will make any leader successful. These personality traits will allow you to push through the challenges and hardships of entrepreneurship.
Entrepreneurship can be a scary journey to embark on. It will take a lot of patience and tenacity. Possessing these four entrepreneurial traits will help during your journey.
1. Self-motivation–
Listen, I understand that motivation comes and goes. It’s not something we all always have that we can easily draw from. Self-motivation is an essential entrepreneurial personality trait to have. As an entrepreneur, you’re going to have many ups and downs. You’re not always going to want to keep going when things get tough, you may want to quit at times. There won’t be anyone standing over top of you telling you to keep going. You must be this for yourself.
My number one tip for maintaining self-motivation is asking yourself who and why. Who are you doing this for? Why are you doing this? Remember those people when you feel tired. Remember your why.
I guarantee this will keep you going when things get tough and help you through difficult times.
2. Discipline
There are three types of self-discipline, they include active discipline, reactive discipline, and proactive discipline. Active discipline is needed to choose to drink water instead of coffee every day. Reactive discipline is used to control your behavior during unforeseen situations like your car breaking down after your shift at work. When you go through these challenges or make a mistake you take it as a learning experience instead of beating yourself up. Proactive discipline is when preparing for a situation before it occurs. Instead of printing and packing sales in the morning, you pack them the night before.
As an entrepreneur, having the ability to stay focused on your goals is key. It’s vital to successfully operate a well-rounded business. We need to have good practices in place when we face setbacks. Every day you must think about what the worst could occur, and what would we do if it did. When it comes to discipline it’s imperative that you are in full control of your emotions.
3. Patience
Of all the entrepreneurial personality traits, patience is so key. Patience is something that many people just don’t have. It’s important to always react with poise. You want to be respectful and humble; you don’t want to explode as soon as one thing goes wrong.
No one likes a hot head, someone who will explode as soon as things don’t go your way. No one wants to work for an employer like this. It is not an attractive quality to possess. When we present patience, we show that we not only care about our reputation but that we respect others and their time also.
No one is perfect, we all make mistakes from day to day. As an entrepreneur and leader, it’s important to exemplify patience and humility to those who are serving us. Without their additional help, we would not be able to operate at the high level that we do. So next time something does not go as planned remember you are a leader and role model for patience.
4. Self-confidence
This is a vital trait to have as an entrepreneur and leader. You must believe in yourself even when no one else does. People may doubt you and your capabilities, but you must believe in your vision and carry it out.
As an entrepreneur, you must operate in your true self and know who you are. You must trust your decision and know that you are making the best decision at that moment for yourself and your business. Those who have confidence not only look their best but command certain respect when they walk into a room.
Through your entrepreneurial journey, you may or may not have support. You have to believe in yourself, have confidence in what you are doing because it will pay off in the end. It’s important to never give up on yourself no matter what anyone says or does.
What entrepreneurial personality traits do you think are important to be successful?
Resources:
Obschonka, Martin, et al. “Entrepreneurial Passion and Personality: The Case of Academic Entrepreneurship.” Frontiers in Psychology, Frontiers Media S.A., 9 Jan. 2019, www.ncbi.nlm.nih.gov/pmc/articles/PMC6335975/.