The Trait of Extraversion as an Energy-Based Determinant of Entrepreneur’s Success—The Case of Poland

Abstract

The fact that personality traits play an important role when it comes to predicting people’s entrepreneurial behavior is currently indisputable. However, so far, the majority of subject literature has focused on employee characteristics in developed countries. To address this gap, research was conducted, including 188 entrepreneurs of small and medium enterprises (SME) and 21 highest-level employees in Poland—one of the countries with the most hostile and turbulent environment for entrepreneurial operations in the world. The five personality traits (Big Five) were evaluated using the 60-item scale. There were three objectives of this study: to identify the differences between entrepreneurs and the most effective, highest-level employees, in the context of personality trait intensities, to determine the level of specific trait(s) intensities (OCEAN) of an effective entrepreneur. Finally, to determine whether it is possible to construct a model based on BIG5 to estimate the probability of success as an entrepreneur. The research results imply there are significant differences between successful entrepreneurs and highly effective employees and their personality trait intensities, described in the BIG5 model. Moreover, it is possible to distinguish trait intensity ranges, determining the success as an entrepreneur. Finally, we constructed the empirically based model, which allows us to estimate the chances of an individual succeeding as an entrepreneur with only a 5% error rate. The main factor and common denominator of entrepreneurial effectiveness is the trait of extraversion. The findings of our study are particularly important for the renewable energy sector in Poland, as the last part of green energy implementing blockchain (e.g., the installation and maintenance of wind turbines and solar panels) is being undertaken, in vast majority, by independent contractors and SME owners (entrepreneurs).