From Steve Jobs to Elon Musk, Similar Personality Traits Emerge: How Do Yours Compare?

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What can entrepreneurs do? and what they feel they have to do deeply rooted in personality.

Entrepreneurs are cut from another canvas, and there’s more to it than ever before. Regular news cycles showcase the latest startups that have been funded and brought to market.

Businesses less than a year old contribute more than 3.1 million jobs in the United States in 2020.

Gig workers, freelancers, consultants, analysts and more have been greatly benefited as remote work becomes the norm and widely accepted. This means that entrepreneurs may have more opportunities than ever to give life to their big ideas.

Due to the growing popularity of new and innovative businesses, many experts and forecasters are revisiting studies from the past decade on entrepreneurial personality.

Related: 4 Personality Traits That Make You An Effective Leader

Entrepreneurial personality traits

Harvard Business School has a working document called “The Personality Traits of Entrepreneurs”. In it, the three authors review the literature on the personality traits of entrepreneurs, first examining the Big 5 Model of people’s motivation as well as risk attitudes, goals, aspirations, position. control and the need to achieve.

Perhaps it is not surprising that people who start a new business have a lot in common.

These traits follow three core themes, sometimes combined as a “business orientation”: distinct personality traits, including self-efficacy and innovation; a unique attitude to risk, which can be misinterpreted as overconfidence; and shared goals and aspirations.

The authors of that article draw a distinct line between entrepreneurs and managers. Entrepreneurs aren’t just great leaders or competent managers: They deviate from conventional leadership stereotypes.

The researchers found that conscientious, extroverted entrepreneurs were similar and more agreeable than managers. Entrepreneurs are consistently more open to experiences, changing environments, and new challenges than managers, and they are also extremely achievement-oriented, but are drawn to environments where success is supposed to be by their efforts, not an organization.

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Related: 10 Personality Traits of Legendary Entrepreneurs

Two illustrations: Jobs and Musk

Steve Jobs and Elon Musk are practically business models at the moment. They are helpful by way of illustration because of the amount of commentary that exists about their lives and personalities.

Steve Jobs was obsessive, ambitious, results-oriented, and an absolute visionary. During his career, he was awarded 140 patents, and was later awarded 141 patents. It is clear from many biographical works that Jobs was a driven person, constantly curious and constantly productive.

In his 2005 Stanford commencement speech, Jobs said, “Your work will take up a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t solve. “That restlessness, or drive for fulfillment internally motivated, is very relevant to research on the entrepreneurial personality.

Elon Musk is a very different type of entrepreneur, but also one of the most popular. Musk owns, co-owns or operates some of the most disruptive companies in the world. His passionate pursuit of new technologies is geared towards the long-term goal of colonizing Mars. Rarely is a larger vision possible, but Musk’s laser focus, tireless work ethic and desire to do more have led to step-by-step progress toward fulfilling that vision.

Musk has an interesting quote about work and productivity: “The idea of ​​lying on the beach as my main thing sounds like the worst. It sounds horrible to me. I’m going to bonders. I will have to take serious drugs. I will be very bored. I like the intensity”.

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From research to the real world, entrepreneurs have one thing in common: They want to work. They love to work. They are disgruntled, even restless, or unhappy when they don’t work hard to achieve the goals they believe in.

Related: Is Your Personality Permanent? New study says ‘No.’

Entrepreneurial personality research

Researchers don’t just aggregate psychological or behavioral data. New, user-generated datasets are found in places like the LinkedIn Employment-Household Database and other border governance datasets.

Analysts are tracking groups of people participating in entrepreneurial training programs, tracking who is receiving venture capital funding and even launching surveys among those in the gig economy and shared workspace. Purpose? For a broader look at who entrepreneurs are, why there seem to be more of them, and how it will impact global economies.

Entrepreneurship culture and entrepreneurship

There are always optimists, from DaVinci to Einstein to Zuckerburg. But people with entrepreneurial personalities in the 21st century have a unique environment to survive and innovate: a culture of entrepreneurship.

Startup culture has an intellectual and cultural fascination, with some experts calling it a fad and others suggesting it represents the decentralization and democratization of world trade. . Whatever the nature of the culture, entrepreneurs have probably never had a better chance to play a key role, as long as they are allowed and encouraged to try.

Spirit and motivation

At the end of the day, all of the entrepreneur personality analysis is interesting, but does it matter? In essence, these people seem to be a group of people, whose sole orientation is hard work, new ideas, high risks, and big ambitions.

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While the startup culture has given entrepreneurs more opportunities, the world is also in a more perilous situation than ever. The Internet has changed lives as we know it, creating open access and endless opportunities for people in any country to contribute to world affairs and markets.

Many see disruption in the economy, policy, digitization, emerging technologies and more as a positive change, but disruption can lead to instability. The stakes are higher than ever, with more countries and market regions than ever relying on “what’s next” to weather what’s happening now.

In a global turmoil where the next moves may not be obvious even to those in power, entrepreneurs may be the only ones willing to take risks to make a difference. .

Obviously, it is in their nature to do so.

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