A study examines personality traits among people in entrepreneurial roles and startup ventures. Startups and other nascent business ventures are comprised of people in a variety of roles, including entrepreneurs, operations leaders, inventors, and support employees. Little is known, however, about the interplay of personalities in various startup roles. William Kerr and colleagues surveyed 1,334 people at 4 co-working office spaces. The participants were categorized as either an entrepreneur, nonfounder CEO/leader, inventor employee, or noninventor employee and asked to self-rate on questions pertaining to general and entrepreneur-specific personality traits. As an incentive to complete the survey, and as a test of risk tolerance, the authors also offered participants either a $5 Amazon gift card or an entry into a drawing for a $2,000 gift card of their choice. The survey found that entrepreneurs showed the highest affinity for general and financial risk as well as self-efficacy, defined as a belief in one's ability to complete tasks. In general, entrepreneurs rated themselves highest in personality traits among the startup roles, inventor employees rated themselves lowest, and CEO/leaders rated themselves in the middle. High risk tolerance predicted participation in the drawing. According to the authors, the study provides a profile of a spectrum of personalities in entrepreneurial organizations.
###
Article #19-08375: "Risk attitudes and personality traits of entrepreneurs and venture team members," by Sari Pekkala Kerr, William R. Kerr, and Margaret Dalton.
MEDIA CONTACT: William R. Kerr, Harvard University, Cambridge, MA; tel: 617-496-7021; e-mail: wkerr@hbs.edu
Journal
Proceedings of the National Academy of Sciences