The Psychology of Entrepreneurship


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the Psychology of Entrepreneurship

Openness to Experience

  • New experiences can take many forms — from meeting new people to attending different events or moving to new cities. Traveling is another way in which entrepreneurs pursue new experiences. Exposure to a foreign place or culture provides an opportunity for insight and inspiration that wouldn’t have occurred otherwise. Indeed, entrepreneurs may benefit from being open to new experiences in all aspects of life, not just as they relate to business. When people are more open to new experiences, they’re better able to find stimulation that can lead to creativity. They may also be more adaptable in the face of change, as they’re not necessarily tied to one way of doing things.

Rebellion

  • Entrepreneurs can also benefit from a rebellious spirit that thrives on risk. Many entrepreneurs start down that path because they’re unsatisfied with their employers, the policies they’re forced to abide by or the purpose of the business they’re engaged in. To have this psychological characteristic is to rebel against the status quo and to succeed in spite of obstacles met along the way.

Combine Psychology with Business

  • Of course, not all types of entrepreneurs share the same psychological makeup. The driving traits behind the psychology of entrepreneurship may depend on each person’s experience, education, vision and goals. However, some qualities may be more valuable than others in helping entrepreneurs succeed. If you’re an entrepreneur, or an aspiring one, understanding how psychology plays a role in determining business success can be critical.

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