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Note
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Reference no. 9-823-099
Subject category: Entrepreneurship
Published by: Harvard Business Publishing
Originally published in: 2023
Version: 22 May 2023
Revision date: 26-Jun-2023
Length: 9 pages
Data source: Published sources

Abstract

Why do some entrepreneurs succeed and others do not? Are there personality traits that lead someone to become an entrepreneur? Although many questions still remain, there has been significant research on the 'entrepreneurial personality'. This note provides an overview of the most frequently studied entrepreneurial traits, including a set of 'Big 5' traits, a need for achievement, locus of control, innovativeness, and risk tolerance. Where data exist, we chronicle what is correlated with a desire to be an entrepreneur and what is associated with actual success as an entrepreneur.

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Abstract

Why do some entrepreneurs succeed and others do not? Are there personality traits that lead someone to become an entrepreneur? Although many questions still remain, there has been significant research on the 'entrepreneurial personality'. This note provides an overview of the most frequently studied entrepreneurial traits, including a set of 'Big 5' traits, a need for achievement, locus of control, innovativeness, and risk tolerance. Where data exist, we chronicle what is correlated with a desire to be an entrepreneur and what is associated with actual success as an entrepreneur.

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