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The impact of founder personalities on startup success
BusinessScientific Reports

The impact of founder personalities on startup success

P. X. Mccarthy, X. Gong, et al.

This research conducted by Paul X. McCarthy, Xian Gong, Fabian Braesemann, Fabian Stephany, Marian-Andrei Rizoiu, and Margaret L. Kern reveals that founder personalities play a critical role in the success of startups. Analyzing data from over 21,000 startups, the study uncovers six distinct personality types and highlights the advantages of diverse teams in achieving startup success. Discover how personality diversity influences performance!... show more
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Abstract
Startup founders’ personalities are a significant feature of venture success. Using a global sample of startups (n = 21,187) and social media–inferred Big Five personality facets across 30 dimensions, founders differ markedly from the general population. Key facets distinguishing successful entrepreneurs include higher openness to adventure (preference for variety and novelty), lower modesty, and higher activity levels. Rather than a single ‘founder type,’ six distinct personality types emerge (Fighters, Operators, Accomplishers, Leaders, Engineers, Developers). Larger, personality-diverse founding teams are more likely to succeed. Specific triads (e.g., Leader with two Developers; Operator with two Developers; Engineer–Leader–Developer) show more than double the odds of success. Findings highlight personality diversity as a novel dimension of team diversity that influences performance and success.
Publisher
Scientific Reports
Published On
Oct 17, 2023
Authors
Paul X. McCarthy, Xian Gong, Fabian Braesemann, Fabian Stephany, Marian-Andrei Rizoiu, Margaret L. Kern
DOI
https://doi.org/10.1038/s41598-023-41980-y
Tags
founder personalitystartup successpersonality traitsteam diversityentrepreneurshipstartup performance
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