Intrigued by these questions and many others, Gallup studied 2,500 entrepreneurs to understand the actions and decisions that lead to venture creation and growth. One of the many things we discovered is how the psychology and innate talents of the entrepreneur affect business outcomes.
To this research, Gallup — from our assessment of 2,500 U.S. entrepreneurs — adds that higher levels of entrepreneurial talent significantly increase one’s odds of business success. Highly talented entrepreneurs, compared with their less talented peers, are:
- three times more likely to build large businesses and to grow them significantly
- four times more likely to create jobs
- four times more likely to exceed profit goals
- five times more likely to exceed sales goals
In short, entrepreneurs’ psychology and innate talents are predictors of business success. Leaders who want to uncover the people with the right makeup to build and sustain a business should understand this fundamental point.