Entrepreneurs: Personality Types & Characteristics

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  • 0:03 What Is an Entrepreneur?
  • 0:52 Myers-Briggs Type Indicator
  • 1:28 Characteristics of…
  • 2:34 ESTP
  • 3:39 Lesson Summary
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Lesson Transcript
Instructor: Brianna Whiting
Being able to take an idea or product and build a business around it requires great determination. In this lesson, we'll look at what characteristics an entrepreneur might possess to succeed in selling ideas or products.

What Is an Entrepreneur?

Have you ever had a big idea or invention that you just knew would be a hit if you shared it with others? If so, were you brave enough to invest your time and money to launch that idea or invention? When an individual decides to risk it all with the hopes of a big return, it could be said that he or she is fulfilling the role of an entrepreneur.

An entrepreneur is someone who markets and builds a business around a new product or idea. He or she takes on the risks of starting a new venture, and if the business is successful, reaps the rewards. Entrepreneurs have to find their own funding and materials, and they have to trust that their idea or invention is something consumers will appreciate and support. While every one of us is capable of creating a new product, those who excel at entrepreneurship tend to possess a certain personality. In this lesson, we'll look at some of the many characteristics that form the personalities of entrepreneurs.

Myers-Briggs Type Indicator

You might be wondering how to know if you have that special type of personality that helps drive entrepreneurs. Well, there's an assessment tool that can help identify what type of personality you have. That instrument is the Myers-Briggs Type Indicator and is based on the work of psychologist Carl Jung. Jung's work focused on the belief that the differences in our behavior aren't just random; rather, they're based on the way we perceive and judge things. Because we all perceive and judge things differently, we all behave differently. According to Jung, perception is how aware we are of what is around us - people, things, and events. Judgment, meanwhile, is what we conclude based on our perceptions.

Characteristics of Entrepreneurs

The Myers-Briggs Type Indicator identifies 16 personalities based on perception. Each personality is a combination of four letters, which are characteristics that describe our preferences. Let's take a look at what those four areas consist of:

  1. First is extroversion (E) and introversion (I): According to the indicator, we look at the world in one of two ways. We either focus on our outer world, or we focus on our inner world.

  2. Second is sensing (S) and intuition (N): Some of us take the information we are given and that's good enough, while some of us like to think about that information, interpret it, and add some meaning.

  3. Next is thinking (T) and feeling (F): Some of us focus on logical thinking, while others want to consider the people involved in a situation and the circumstances that have occurred.

  4. And finally, there's judging (J) and perceiving (P): These letters describe how we handle and look at things. Some of us like to get straight to the point and make a decision, while others like to look at all of the options and whatever new information is presented.

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