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In the course of a growing start-up market and strongly increasing investment volume, investors try to predict the success of a business as precisely as possible in advance. However, when assessing the personality of the founder or founding team, they still rely far too often on their gut feeling, thereby reducing the quality of their decisions. Our study therefore aimed at investigating whether there are any relationships between the founders' personality traits and their performance and thus justifying the need for more targeted and optimized diagnostics in the field of founder personality. With a total of 141 founders, clear correlations between personality traits (conscientiousness, emotional stability) and performance could be demonstrated in the present study. In addition, it became evident that perceived stress is also related to the founders’ personality (emotional stability negative, conscientiousness positive) and in turn has a negative effect on performance. Our findings contribute to raising awareness of the importance of personality as a predictor of founders' performance, improving decision-making, and, in the long run, replacing gut feeling as an inappropriate assessment criterion of investors.
Never good enough: the relation between the impostor phenomenon and multidimensional perfectionism
(2020)
The Impostor Phenomenon can be described as the tendency to attribute professional success not to one’s own abilities but to excessive effort or fortunate external circumstances. Individuals strongly experiencing those tendencies fear that one day they will be exposed as “impostors” as soon as their alleged incompetence can no longer be concealed. Typical characteristics of the Impostor Phenomenon outlined by Clance (1985) show a remarkable conceptual similarity to the personality construct of perfectionism. Thus, the present study aimed at investigating how the Impostor Phenomenon is related to various facets of dispositional perfectionism with respect to predominant conceptualizations of perfectionism by Frost et al. (1990), Hewitt and Flett (1991), as well as their combination within the bifactor model of Perfectionistic Strivings and Perfectionistic Concerns (Frost et al. 1993). A total of N = 274 individuals participated in an online survey including the Impostor Phenomenon Scale (CIPS; Clance 1988), the Frost Multidimensional Perfectionism Scale (FMPS; Frost et al. 1990), and the Hewitt und Flett Multidimensional Perfectionism Scale (MPS short form; Hewitt et al. 2008). Hierarchical regression analyses were conducted to determine the differential contributions of perfectionism dimensions and factors in predicting the Impostor Phenomenon. The perfectionism dimensions Doubts about Actions, Concern over Mistakes and Socially prescribed Perfectionism appeared to be efficient predictors of the Impostor Phenomenon. Contrary to Perfectionistic Strivings, Perfectionistic Concerns as a maladaptive perfectionism factor strongly contributed to the prediction of the Impostor Phenomenon. Theoretical and practical implications of the associations between the Impostor Phenomenon and multidimensional perfectionism are discussed.