The impact of founder personalities on startup success

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.

Paul X. McCarthy, Xian Gong, Fabian Braesemann, Fabian Stephany, Marian-Andrei Rizoiu, Margaret L. Kern