Patience is a lucrative virtue for entrepreneurs, new research finds
People with higher levels of patience are more likely to become entrepreneurs and earn more once they do, according to a new study from the University of Bath's School of Management. The researchers analyzed data from more than 21,000 U.K. employees between 2009 and 2023 and found that the most patient individuals were approximately 50% more likely to move into entrepreneurship than the most…
New research from the University of Bath suggests that patience is a key trait for entrepreneurs. A study analyzing data from over 21,000 U.K. employees between 2009 and 2023 found that individuals with higher patience levels were about 50% more likely to become entrepreneurs than those with less patience. Furthermore, those who did become business owners earned approximately 40% more than their more impatient counterparts.
The findings, published in Small Business Economics, challenge the common belief that traits like risk-taking and optimism, which encourage entrepreneurship, often lead to poor performance later on. Instead, patience seems to benefit entrepreneurs at every stage of their journey.
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