This article was originally published in the Winter 2023 issue of ICON/REFINED.

Ever wondered if you’ve got what it takes to build a successful business? A personality test may have the answer, according to research from the University of New South Wales. 

For this study, researchers analyzed more than 21,000 company founder personalities and cross-referenced the data against which start-ups were successful (“success” was defined as whether or not the company had been acquired, if they acquired another company, or the company was listed on a public stock exchange). 

Research revealed that successful entrepreneurs typically share personality traits such as favoring variety, novelty, and starting new things. They enjoy being the center of attention and are exuberant. They crave adventure and are open to new experiences, can remain calm under pressure and are able to remain focused and disciplined. 

“We find that personality traits don’t simply matter for start-ups–they are critical to elevating the chances of success,” says Paul X. McCarthy, lead author of the study.

While study authors note that there’s no one founder “type” that ensures success, possessing a variety of these qualities are advantageous to the outcomes of a start-up. Additionally, researchers found that even if founders were lacking in some of these personality traits, hiring team members who made up for their shortcomings did wonders for reaching higher levels of success.