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Redefining the personality profiles of early-stage solopreneurs: A cross-sector study

Author

Listed:
  • Wolfgang Hagenauer

    (Faculty of Business and Economics, Mendel University, Brno, Czech Republic)

  • Harald T. Zipko

    (University of Applied Sciences, Vienna, Austria)

Abstract

This study explores the diversity in the personality profiles of solopreneurs in high- and non-high-tech sectors during the initial business phase, driven by the need to determine whether sector-specific personality traits are crucial for entrepreneurial success. Utilizing the Big Five personality traits (BFPT), we analyze data on 4,470 solopreneurs from the IAB/ZEW Start-up Panel (2018 and 2019 waves). This study incorporates comprehensive Big Five personality, exploratory factor, cluster, and heatmap analyses. These methods reveal significant differences between solopreneurs and the general population, particularly regarding openness, conscientiousness, extraversion, agreeableness, and neuroticism. The analysis identifies three main industry sectors that reflect the range of entrepreneurial approaches. Despite sectoral diversity, Big Five profiles of entrepreneurs are homogenous, challenging the assumption that different sectors require distinct personality profiles. The findings underscore the importance of self-awareness and accurate self-perception in fostering innovation and making prudent decisions during the early stages of entrepreneurship.

Suggested Citation

  • Wolfgang Hagenauer & Harald T. Zipko, 2025. "Redefining the personality profiles of early-stage solopreneurs: A cross-sector study," Society and Economy, Akadémiai Kiadó, Hungary, vol. 47(2), pages 129-152, June.
    • Handle: RePEc:aka:soceco:v:47:y:2025:i:2:p:129-152
    DOI: 10.1556/204.2024.00024
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    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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