Have you ever met an individual with an innate ability to succeed in business, almost like they were born to be an entrepreneur? When entrepreneurship comes so easily to someone, you may wonder if it is a part of their genetic makeup. While a variety of critical factors play a role in shaping an entrepreneur’s success, some people possess a trait that may give them an advantage: the entrepreneur personality type.

Ahead, we explore the entrepreneur personality type, as well as its strengths and weaknesses. In addition, we will cover whether this is considered a positive personality type.

What Is ESTP?

The entrepreneur personality, also known as ESTP, is a type of persona identified by the Myers-Briggs Type Indicator (MBTI). ESTP, which stands for extroverted, sensing, thinking and perceiving, is one of 16 MBTI personality types. According to data from Ball State University, 4.3% of the U.S. population have the ESTP personality type.

People who have an entrepreneur personality type are often characterized as dynamic, outgoing and charming. These personal characteristics of entrepreneurs often earn them nicknames like “dynamo” and “the persuader.”, , Typically, individuals with this type of personality thrive on social interaction and have a broad circle of friends. They tend to focus on the present and take a more objective, fact-based approach to decision-making rather than heed personal feelings.

Six Strengths of the ESTP Personality Type

The ESTP personality, or entrepreneur personality type, has many strengths that help them become successful entrepreneurs, including some of the following:

1. Practical: A person with an ESTP personality type commonly thinks more practically, focusing on the tangible and immediate details of a situation rather than getting wrapped up in broad concepts.
2. Creative: While ESTPs are well known for their practicality, this does not mean that they lack creativity. People with this type of personality can be innovative thinkers who can think on their feet, which can contribute to creative problem-solving.
3. Personable: ESTPs often possess a natural charm and are socially adept. As a result, they can easily connect with others and navigate different social dynamics.
4. Collaborative: ESTPs are typically effective team members. Their social, energetic nature makes them easy to partner with.
5. Thoughtful: ESTPs are often perceptive and notice small changes or nuances in the moods and feelings of others.
6. Confident: ESTPs have good intuition and commonly rely on their pragmatism to act and make decisions with confidence.

Four Weaknesses of the ESTP Personality Type

While individuals with the ESTP personality type have many strengths, it is important to acknowledge some weaknesses they may also possess. In contrast to their entrepreneurial social skills and confidence, the following are some weaknesses attributed to the entrepreneur personality.

1. Impulsive: ESTPs commonly prefer immediate action, which can lead to impulsive decision-making. This tendency may cause them to overlook critical details or potential consequences, making it difficult for them to make long-term plans.
2. Impatient: People with this type of personality typically prefer pragmatic, hands-on experiences over theoretical discussions and concepts. For example, placing too much emphasis on abstract ideas in a conversation risks ESTPs losing patience and becoming disinterested.
3. Disorganized: Another weakness that can come with the ESTP personality type is disorganization. Given their tendency to prioritize pressing tasks, ESTPs commonly neglect to create structures to keep themselves organized. This can be especially pertinent when they have no clear due date for completing a task.
4. Short-sighted: ESTPs typically like to live in the moment; they thrive on spontaneity and action. However, their focus on immediate action and tangible details can prevent them from being able to see the bigger picture.

Is ESTP a Good Personality Type?

No personality type is universally good or bad. The entrepreneur personality, like any other type of personality, has both strengths and challenges. For example, ESTPs tendency to be action-oriented and pragmatic can be advantageous in fast-paced work environments or situations that require quick problem-solving. In addition, their ability to thrive in the present moment and their natural charm can make them effective leaders in an organization or powerful influencers in networking situations.

However, their tendency to focus on immediate results or neglect long-term planning may harm their personal and professional pursuits at times. Any individual, whether they have an entrepreneurial spirit or not, must practice self-awareness to appropriately harness their strengths and combat their weaknesses to succeed.

To learn more about other important topics, follow philanthropist and entrepreneur Robert F. Smith on LinkedIn.