This blog is a part of the AbleAlly’s 21st Century Manifesto that aims to help you choose the right career path based on psychological inclinations.
We are in the middle of a unique trend as a civilization. Almost everyone in the working population is adamant about ‘Hustling hard’ and ‘Finding their inner calling’. That’s the paramount parameter of success for the majority nowadays.
As a result, almost no one in the working population- entrepreneurs or employees are happy from within.
Everyone is either chasing online trends or ‘hustling hard’. College students are launching their ventures from their dorm rooms. The evening discussions everywhere have shifted to which startup got most funding, and how to crack ‘the next big unicorn’ puzzle.
Everyone thinks entrepreneurship is cool. But is it?
90% of the entrepreneurs (and startups) fail.
Have you ever thought why only a few succeed? Why some people appear like they are born entrepreneurs? Anything they touch turns to gold. And the majority (who chase a trend or a dream) feel like everything they do is always a struggle?
The answer lies in finding and following ‘your natural instinct’. Don’t worry, we won’t play the same old record of finding your inner calling, like other pieces on the internet.
Instead, in this blog, we will focus on why some people choose entrepreneurship while others go for the careerist route.
So, let’s unravel the psychology behind this important decision: are you meant to be a careerist or an entrepreneur.
Entrepreneurship vs Intrapreneurship
Before we dive deeper into psychology, let us have a look at the difference between both options: being an entrepreneur and an intrapreneur.
Instead of giving you textbook definitions of both, here are a few examples that would make this comparison more contextual and relatable.
You know Elon Musk and Tim Cook. Elon Musk is an entrepreneur while Tim Cook is an intrapreneur (or a careerist).
Elon Musk creates his own path and ventures while Tim Cook is happy to lead Apple (an established enterprise) through his innovative mindset and expertise.
Were you able to differentiate between the two?
Intrapreneurship is entrepreneurship applied within the conventional boundaries of a company.
In other words, it is the ability to innovate (like an entrepreneur) with better resources minus the risk. But you work for an objective ascertained by the company you work at. You can see intrapreneurs as an employee of a company.
Likewise, entrepreneurs also apply innovation and agility, but they choose to work for themselves, instead of a company. They launch their own startups, build things from scratch, and take the entire risk of failure on their shoulders.
Why does everyone want to be an Entrepreneur?
You might have seen posts and quotes plastered all over your social media feed in favor of being an entrepreneur. Or you must have Googled ‘the most lucrative career option’ once in your lifetime.
Some people choose to be an entrepreneur while others are happy to become a careerist with stable incomes and predictable career paths.
Do you know why?
5 psychological characteristics influence your choice for the professional path you choose.
These five traits are collectively called ‘The Big 5’ in psychology.
The Big Five: Your ‘Inner Calling’
Scientists have been perfecting ‘The Big Five’ Personality Model for years now.
You must have also heard about it, if not the same term but as psychometric tests that tell you what you’re meant for, based on your answers for a few questions.
The Big Five Personality Model is a collection of 5 personality traits that influences a person’s decision to choose entrepreneurship or intrapreneurship (being a careerist).
The Big Five Personality Traits
The five broad personality traits described by the theory are
The Entrepreneurial Personality (Based on Big 5)
· Dominant Traits: Extraversion & Openness to Experience
· Prominent Example: Elon Musk, Bill Gates, Steve Jobs, etc.
If you’re a social butterfly, impulsive, and imaginative, entrepreneurship might be the ‘thing’ for you. You’re more open to new experiences and find it hard to stay within a box for a long time.
Your creativity blooms when topped with flexibility (and freedom). Hence, you are better off creating something of your own (like an artist) than staying within the boundaries of corporate culture or a job profile.
The Intrapreneurial Personality (Based on Big 5)
· Dominant Traits: Neuroticism, Agreeableness and Conscientiousness
· Prominent Example: Sundar Pichai, Tim Cook, etc.
Some people are helpful, highly disciplined, trustworthy and tend to be conscious all the time. Such people can work on their own, but they expect a structure to everything they do. If you are someone who relates to these traits, you are a born careerist.
You can do great things when supported by the right resources. But you can get easily anxious when things go wrong or just on the possibility. Hence, you need support and incubation (which can be provided by an organization).
Make the Right Career Choice with The Big Five
You would never want to pursue something you’re not meant for — because of online trends or a YouTube video suggested you should be your own boss.
Also, you would not want to be stuck in a job, just because you got a good placement. And that is where The Big Five personality model helps you make the right decision.
So, why don’t you choose the path that’s inherent in your personality and let us know if you’re an entrepreneur at heart or a careerist?