THE ENTREPRENEURIAL PERSONALITY 39strength of the entrepreneur ’ s position, they can have some infl uence on
the policies of the enterprise. But change achieved by this type of pres-
sure is usually only modest. A more drastic type of change is needed for
continued growth and success and for this, a sense of psychological
maturity on the part of the entrepreneur is required — a willingness to
confront his confl ict - ridden behavior and overcome and surpass the
problems of the past. But adaptation to present - day reality (and foregoing
the legacies of his personal history) requires a considerable basis of self -
awareness and insight.
The entrepreneurial personality is a study in contradictions; imagi-
nativeness and rigidity, the urge to take risks, and the stubborn resistance
to change. People often speculate about the possibility of changing the
personality characteristics of creative people to eliminate the destructive
qualities while preserving, if not enhancing, the constructive tendencies.
These speculations are often based on wishful thinking — to have the
best of both worlds of innovation and maturation. Greater self - awareness
and discipline would undoubtedly serve these people well in making
the transition from starting up an organization to taking on a meaning-
ful leadership position during later stages of growth. But it is a rare
individual who can develop this kind of awareness. Perhaps the more
intelligent plan for entrepreneurs is to move away from their old ven-
tures while moving towards other areas of innovation. Instead of trying
to change themselves, they can continue to be pioneers, but on new
frontiers.
Working effectively with entrepreneurs
Anyone who deals with an entrepreneur — private equity fi rms, invest-
ment bankers, consultants, or individuals who work for one — would do
well to be aware of the possibility of a complex drama playing out in
the entrepreneur ’ s inner world. Doing so will help them understand
what otherwise could be brushed aside as irrational behavior and actions.
Unfortunately, the complex mosaic of contributing factors that leads to
some entrepreneurs ’ peculiar actions is often neither recognized nor
understood.
Obviously, the individuals who should be the most concerned with
this inner world are the entrepreneurs themselves. Entrepreneurs who
resort to a manic defense — who never ask themselves why they are
running, or where to — are in for an eventual shock. Too many entre-
preneurial businesses self - destruct because of these behavior patterns. It
is diffi cult to break the vicious circle, however, without some form of