Entrepreneurs don’t all share the same personality, but there are some personality traits that are consistently found in entrepreneurs and business owners. These traits include strengths and weaknesses that many people who consider themselves entrepreneurs will easily relate to.
Entrepreneur personality weaknesses and strengths are ingredients in the recipe for a successful business – some weaknesses make entrepreneurs more likely to be successful in the long-term.
The weaknesses of the entrepreneur personality are the focus of this post. Read Part 1: Entrepreneur Personality Strengths here. With an increased likelihood to be insensitive, impatient, and defiant, it’s important for entrepreneurs to fully understand their weaknesses and how they can work around and with them.
Entrepreneur personality strengths and weaknesses: Part 2
Entrepreneur personality weaknesses
The personality traits defined as “weaknesses” are those that limit someone’s potential. The traits that entrepreneurs measure lowest in are analytical problem solving, empathy, organization, planning, and self-management.
Entrepreneur personality weaknesses include:
- Insensitive – As we outlined in Part 1, one of the strengths entrepreneurs have is being practical and logical when making decisions. While that pays off in the business world, it can create difficult situations in personal relationships where feelings and emotions take precedence.
- Unstructured action – Entrepreneur personalities may be more likely to take opportunities, including risky ones. They can be lax about rules and routines because they prefer unstructured, spontaneous action. This distaste for routines and rules are part of what makes entrepreneurs bristle at the idea of working a typical nine to five job for another company. Entrepreneurs like to be in charge so they can make decisions on when to bend the rules a bit for the biggest gains.
- Defiance – Defiance could be considered both a strength and a weakness. Being unable or unwilling to dredge through repetitious or entry-level work is usually what drives these types to pursue entrepreneurship. The environments of school and typical office or factory jobs are abrasive to entrepreneur personalities because they don’t provide the type of stimulation needed to retain their focus.
- Hyper-focusing – Entrepreneurs may be more likely to focus in on minor details while neglecting the overall view of the operation. When someone “can’t see the forest for the trees,” important details and work slip through the cracks. Taking notice of a tendency to focus on details without keeping the big picture in mind can inspire action to be more organized and remind the entrepreneur to schedule regular checks on processes or team progress, etc.
- Risk-taking behavior – High-functioning people often find themselves bored. When the entrepreneur personality type is bored, they’ve learned they can remedy it by taking a risk. Risk-taking behavior is common in entrepreneurs. A tendency to battle boredom and impatience (detailed below) means entrepreneurs take more risks – but as the saying goes, “You’ve got to be in it to win it.”
- Impatience – Entrepreneur personalities like to go fast. It’s why they’re bold, direct, and spontaneous – they don’t want to waste any time. This sense of impatience contributes to the risk-taking behavior of entrepreneurs. It can also prevent them from focusing on details or maintaining interest in a slow-moving project.
These are the 6 commonly recognized entrepreneur personality weaknesses. Reminder: Not every entrepreneur has the entrepreneur personality type, ESTP, according to 16Personalities. The Myers-Briggs Type Indicator was consulted for information about these traits and behaviors.
Click here to read Part 1: Entrepreneur personality strengths. This post outlines the strengths associated with the entrepreneur personality type, including boldness, creativity, and social ability.