With two-thirds of millennials wanting to launch their own business and the explosion of technology enabling more agile start-ups, entrepreneurs have been the subject of growing research interest. Studies suggest that successful entrepreneurs have the ability to innovate, introduce new products and behave strategically. These findings certainly stack up when considering some of our most successful entrepreneurs in recent times like Bill Gates and Steve Jobs – highly creative individuals, combining vision with a hunger for growth and development.
To build a more detailed picture, we delved into our own data to analyse the competencies of entrepreneurs assessed using Profile:Match2. This analysis revealed that entrepreneurs scored significantly higher than the general workforce on problem solving, creativity, strategic awareness and results orientation. Unsurprisingly, they were also found to score much higher on independence, which not only includes being autonomous but being forthright in expressing views and unafraid to make decisions, even if they are unpopular. Finally, the data revealed they rated much higher for flexibility and being able to manage change. On the flipside, entrepreneurs scored significantly lower than the general population on commitment, including identifying with organisational values and objectives.
“Bold in putting forward ideas, entrepreneurs make decisions without necessarily consulting others”
Our data offer strong support for the notion that entrepreneurs are indeed highly creative individuals, focused on innovation and development. They will be aware of the latest developments in their field and be interested in improving existing products or developing new ones. Energetic, motivated and persistent, our entrepreneurial sample is characterised by demonstrating initiative and having an optimistic can-do attitude.
The competency where entrepreneurs scored lower, on commitment, reflects their individuality and enterprise together with their independence. Entrepreneurs tend to resist submitting to someone else’s agenda. In an organisational setting, this may mean giving entrepreneurial individuals the space and autonomy to maximise their drive and initiative and to focus on delivering results.
Does this sound like you?
To speak to a psychologist about using Profile:Match2 to assess competencies for selection, development or 360 in your organisation, contact email@example.com