Testing a Psychological Typology of Entrepreneurship Using Business Founders

Abstract

This study follows upon previous research among established entrepreneurs indicating that a four-way psychological typology (i.e., personal achievers, real managers, expert idea generators, and empathic supersalespeople) predicts firm growth. It extends support for the typology to the venture initiation phase and to a student population. The results confirm that those students who are characterized by one or more of the types are more likely to be entrepreneurs after graduation. Measures of entrepreneurial propensities and skill in business plan preparation—both obtained prior to graduation—are also predicted by the typology. As a test of the basic theory, this research provides substantial support. It also extends the domain of that theory to incorporate the enterprise start-up phase.

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