Overview of the Entrepreneur Personality Type,
According to the MBTI
“Life is either a daring adventure or nothing at all.” – Helen Keller
Personality types might be the most studied and researched topics in psychology. Countless psychologists have developed theories that attempt to define human personality traits and separate them into personality types. One such theory and resulting tool for measuring and defining personality types is the Myers-Briggs Type Indicator (MBTI).
What is the Myers-Briggs Type Indicator or MBTI?
The MBTI is a widely accepted and used indicator of personality type. It’s commonly used to help people predict future career possibilities, and entrepreneurs can use it to predict success probability.
By answering a series of targeted questions, users are given results corresponding to one of the 16 total personality types. One of those 16, the entrepreneur personality type, contains more of the world’s entrepreneurs than any other.
There are four dichotomies to measure personality traits in the MBTI:
- Extraversion (E) -Introversion (I) : Outgoing or shy in social interactions
- Sensing (S) -Intuitiveness (N) : Rely on concrete senses or rely on intuition
- Thinking (T) -Feeling (F) : View the world according to reason or view the world according to emotions
- Judging (J) – Perceiving (P) : Rely on fixed structure and routine or rely on free thinking and gray areas
Personality type results from the MBTI are given through different combinations of 4 letters corresponding to the way the user answers the questions. That’s easier to show by example than it is to explain.
Let’s say you want to find out your personality type. After taking the test, your results might say you are Extraverted, Sensing, Thinking, and Perceiving (ESTP). Alternatively, your results may show something entirely different, like Introverted, Intuitive, Feeling, and Perceiving (INFP).
In this post, we’re going to overview the ESTP personality type and why it’s common in entrepreneurs.
ESTP – The Entrepreneur Personality Type
Individuals that are Extroverted and rely on Sensing, Thinking, and Perceiving to relate to others usually possess the entrepreneur personality type.
Only around 4% of the population are ESTPs. According to the MBTI and 16Personalities, people displaying the traits of the entrepreneur personality type are more likely to pursue entrepreneurial goals and dreams than others. They don’t mind taking risks and enjoy being the center of attention.
ESTPs are doers that tend to leap before looking. They rely on logic to make decisions, and while they are typically very intelligent people, ESTPs have trouble performing well or staying focused in too-rigid school or work settings.
In general, the ESTP is a risk taker that values discovery more than complacency.
Strengths of the Entrepreneur Personality Type
There’s no denying that this personality type is well-liked and tailor-made for leadership positions like entrepreneurship. Recognize any of these strengths?
- Bold – Never afraid to speak up or champion an unpopular opinion; headstrong and confident
- Rational and Practical – Interested only in what is and what can realistically be done, not theories and concepts
- Original – High levels of creativity and a willingness to listen to others’ suggestions and opinions helps ESTPs come up with excellent original ideas
- Perceptive – Very observant and able to perceive even small changes in environment, attitudes of others, appearances, etc.
- Direct – Doesn’t waste time with pleasantries or small talk. Big ideas, direct communication, no frills.
- Sociable – These strengths are just what land this personality type in leadership roles and entrepreneurship so often. People gravitate toward ESTPs and trust them because they are clear and consistent in their actions.
Weaknesses of the Entrepreneur Personality Type
You didn’t think you could get off that easily, did you? The ESTP type can be intimidating to some, and the over-development of certain strengths can cause positive traits to devolve into weaknesses.
Any of these common weaknesses in ESTPs sound familiar?
- Insensitive – A penchant for blunt honesty can make ESTPs come across as insensitive or not caring enough.
- Impatient – Increased need for stimulation and action makes ESTPs move quickly and more easily, appearing as impatience to others
- Risk-prone – Consequences of actions aren’t part of ESTP’s decision-making criteria. Taking too many unweighed risks is likely to result in mistakes and regrets.
- Unstructured – An internal focus on taking advantage of limited opportunities can make this type more likely to disregard social or formal rules in favor of taking immediate action.
- May Miss the Bigger Picture – Sees the trees, not the forest. Can hyper-focus on small issues and fail to link or connect information into “the big picture.”
- Defiant – Formal, rule-bound situations (school, government regulations, corporate jobs, etc.) are miserable for ESTPs, which can cause them to be defiant in efforts to reassert their independence.
These famous people show traits that appear to make them fall under the entrepreneur personality type. Do you see any similarities between you and these people?
- Ernest Hemingway
- Dale Carnegie
- Donald Trump
- Jack Nicholson
- Eddie Murphy
- Bruce Willis
- Michael J. Fox
- Alexander the Great
These fictional characters possess traits that fall under the entrepreneur personality type. Which ones can you identify with?
- Jaime Lannister from Game of Thrones
- Lincoln Burrows from Prison Break
- Hank Schrader from Breaking Bad
- Seth Grayson from House of Cards
- Maeby Fünke from Arrested Development
- Fiona Glenanne from Burn Notice
- Philip Wenneck from Hangover
Ready to take the Myers-Briggs Type Indicator test and find out what your type is? Click here to take the free personality test.