Understanding Personality Types in Entrepreneurship and New Ventures

This assignment delves into the intersection of personality traits and entrepreneurial success. The student explores the four temperaments—Melancholic, Phlegmatic, Sanguine, and Choleric—and their respective strengths and weaknesses in the context of starting a new venture. The student reflects on their own Phlegmatic personality, incorporating elements of Choleric traits, and how their values align with entrepreneurial endeavors. The assignment highlights the importance of recognizing and leveraging the positive aspects of different personality types within a team. The student draws upon various resources, including videos, books, and group discussions, to understand the impact of personality on leadership, decision-making, and overall business productivity. The student identifies personal strengths such as flexibility and rational analysis, and weaknesses such as indecisiveness and difficulty expressing opinions, while outlining strategies to overcome these challenges by utilizing their Choleric and extroverted tendencies. The assignment concludes with references to relevant academic sources.

Running head: CREATING NEW VENTURE
Creating New Venture
Name of the Student:
Name of the University:
Author Note:

1CREATING NEW VENTURE
SCMP for entrepreneurs
Through the four temperament study I have learnt that all personality types have their
own strengths and weaknesses. For Melancholic and Phlegmatic personality types the
strengths may not be as evident as for the other due to the inherent introvert nature of the
individuals but, their characteristics can be used in a positive manner in order to become
successful as an entrepreneur (Kwapil et al., 2013). Earlier I thought that having Sanguine or
Choleric qualities are key to a successful career but through the lesson I have learnt every
personality has its positive or negative side.
The new learning about personality type has close relation to my values. As a person I
am a Phlegmatic type with a little mixture of Choleric. My like to live in harmony and
practice self-control. I believe that they are essential qualities to handle any situation
effectively. My sense of right and wrong says that people possessing certain qualities should
become entrepreneurs which it seems, is not true.
I believe in observing any situation, look at it patiently and think rationally before
taking any decision. All of these qualities are conform to the personality type. I believe that
these qualities can be used successfully to become an entrepreneur. Earlier I felt that there are
certain kinds of people that make good leaders or have better productivity than others. This
study challenged that notion and confirmed that every person has some qualities that makes
them unique (Morallane, 2016).
In the process of learning about my own personality and understanding the personality
types and characteristics of the others, I have gained a valuable life experience. A successful
entrepreneur should be able to recognize the positive aspects of the other people. They should
be able to guide them, direct them or lead them as necessary. This lesson also teaches me to
use my traits in a productive manner.

2CREATING NEW VENTURE
Through the learning I have learnt that all the personality types are valuable. Earlier I
lacked that understanding which was a weakness in me. I have learnt to appreciate both the
Sanguine and Choleric that have good leadership qualities and high energy (Kalachanis &
Michailidis, 2015). In a workplace they are needed for motivation. The Melancholic make
loyal and hardworking employees.
In this learning, I have engaged with various videos that talk about the strengths and
weaknesses of the personality types. There are many books and journals that analyze these
traits. I have also engaged in group discussion and tests that clearly define the areas that I
need to work more on.
During this process I have learnt that I am a flexible person and have the ability to
listen to the opinion of others. I have the patience to learn new things and analyze it
rationally. My level headedness helps to handle critical situations well. The weaknesses that I
have are difficulty in decision making and the tendency to lag behind if the matter does not
interest me. I face difficulty in expressing my opinion publicly. I can overcome these
problems by exercising my Choleric nature of leadership and extrovert qualities (Ekstrand,
2015).

3CREATING NEW VENTURE
References
Ekstrand, D. W. (2015). The four human temperaments. Retrieved on, 20.
Kalachanis, K., & Michailidis, I. E. (2015). The Hippocratic view on humors and human
temperament. Eur. J. Soc. Behav, 2, 1-5.
Kwapil, T. R., DeGeorge, D., Walsh, M. A., Burgin, C. J., Silvia, P. J., & Barrantes-Vidal, N.
(2013). Affective temperaments: unique constructs or dimensions of normal
personality by another name?. Journal of affective disorders, 151(3), 882-890.
Morallane, M. H. (2016). The relationship between personality traits and cognitive
adaptability of established entrepreneurs (Doctoral dissertation, University of
Pretoria).