Affiliations: U. S. Army Research Institute for the Behavioral and
Social Sciences, Arlington, VA, USA | University of Tennessee, Knoxville, TN, USA | Resource Associates, Inc., Knoxville, TN, USA
Note: [] Address for correspondence: Jacob J. Levy, Department of
Psychology, University of Tennessee, 215G Austin Peay, Knoxville, TN 37996,
USA. Tel.: +1 865 789 8362; E-mail: jlevy4@utk.edu
Abstract: OBJECTIVE: Drawing on prior occupational choice research on
entrepreneurs and self-employed business owners, we examined personality
predictors of their occupational business success and work satisfaction. PARTICIPANTS AND PROCEDURES: A sample of 147 small business owners
completed a web-based assessment of 14 work-related personality traits –
Adaptability, Autonomy, Competitiveness, Dependability, Emotional Resilience,
Goal-Setting, Optimism, Persistence, Risk Tolerance, Self-Promotion,
Networking, and Tolerance for Financial Insecurity, Work-Based Locus of
Control, and Work Drive – and three self-reported indices of business
success – revenue growth, profit growth, and income growth – as
well as multiple facets of individual satisfaction. Criterion variables
included composite business success and overall satisfaction. RESULTS: Ten traits correlated with business success. The top four
personality predictors of success – Goal-Setting, Social Networking,
Emotional Resilience, and Work Drive – together accounted for 16% of the
variance. Similarly, 12 of 14 personality traits were positively related to
overall satisfaction. The top three personality predictors of satisfaction
– Optimism, Work-based Locus of Control, and Work Drive – accounted
for 29% of the variability in satisfaction. An expectancy analysis revealed
that the percent of participants who reported at least a 20% increase in sales
and profits the preceding year was 26% versus 54% for individual scoring in the
lower and upper third of a personality composite measure. CONCLUSIONS: Results carry implications for future research, and
have direct, practical applications for prospective and current entrepreneurs
and self-employed owners of small businesses.
Keywords: Entrepreneurship, small business, work satisfaction, business success
