Are entrepreneurs born or made? Everything you need to know
There has always been a debate on this issue; are entrepreneurs born or made? Some people argue that for a person to have the motive of being an entrepreneur and succeed in it, they must have innate characteristics required in this field. Others argue that a person can make themselves entrepreneurs by learning. Numerous studies have been conducted to determine whether entrepreneurs born or made. Some researchers have come up with the argument that genes not only motivate a person to start a business but also determine the amount of money they will make from their endeavor. With such an argument, we can conclude that probably entrepreneurship is not meant for everyone.
Some people are born to lead in entrepreneurship while others are born to take instructions. However, this notion might not be convincing to many people. Business schools and other institutions have been established to equip people with entrepreneurial skills. Today, many people are trying to overcome challenges by all means to become entrepreneurs. Also, there are some entrepreneurs who come from families that do not have an entrepreneurial background. It can be therefore difficult to tell whether or not entrepreneurs are born or made because there are factors supporting either side. This article brings a discussion on the debate on entrepreneurs are born or made.
Entrepreneurs are born not made
We will begin by first analyzing the notion that entrepreneurs are born. Any person who is in business or hoping to become successful in entrepreneurship hopes that they can learn the best practices and skills from external forces. While this is true and achievable, in-born characteristics are the main drivers of success in entrepreneurship. Research indicates that many people who are successful in entrepreneurship were born with those characteristics. Therefore, upbringing and other external influences do not contribute towards entrepreneurship achievement.
The study of twins has been used to state whether entrepreneurs are born or made. The researcher, Scott Shane, conducted the experiment using a hundred sets of twins. He came up with the conclusion that shared entrepreneurial tendencies were higher in identical twins than in their fraternal counterparts.
Research on molecular genetics also reveals that entrepreneurial capabilities are inherited. This particular research came up with four conclusions to support the argument that entrepreneurs are born.
1. Genes can drive a person into opening a business
Entrepreneurship starts with the opening of a business, whether a person has physical premises or not. This is definitely a huge step for a person to make considering that they are not guaranteed of success. Additionally, a person does not just wake up and open a business. Instead, they research about it, evaluate what to expect, the dos and the don’ts. They have to plan psychologically and financially. To some extent, this conclusion strongly emphasize that entrepreneurs are born. Many start-ups today fail because of poor planning, which is an indication that such people are not meant to be in business.
2. Ability to identify and pursue new opportunities is inheritable
Entrepreneurship is not simply opening a business. It is also a platform that a person uses to explore innovation, so that they can meet the needs of people today. Today, technological advancements are taking place. The needs and preferences of people are changing at quite a fast rate. As such, a person in business must identify these opportunities and pursue them. This is definitely not an easy process. One needs innate entrepreneurial skills to go about it.
3. Self-employment is heritable
The ability of a person to think that they can sustain themselves comes from within. The drive to start an organisation is driven by the previous successes of the people in the lineage.
4. Extroversion is an important characteristic of successful entrepreneurs and it is inborn
Extroverts find it easy to create connections with people. Networking is a major component for success in business. Extroverts have the tendency of easily socializing and making new connections at every step of the way.
Other surveys also indicate that only 1% of successful entrepreneurs believed that higher learning equipped them with skills to run their businesses. 61% attributed their entrepreneurial skills to innate drive.
Based on these researches, genes play an important role in determining whether a person should be an entrepreneur or not. However, this does not mean that a person has to be born with such skills as discussed below.
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Entrepreneurs are made
Perhaps, the main reason why some people support the argument that entrepreneurs are born is because people cannot be taught how to open and run their businesses. They have to be passionate and self-driven in pursuing new opportunities. Such characters come from within and this is probably why some people are discouraged from starting their own businesses.
1. Entrepreneurs are made through acting on their failure
The skills of overcoming challenges in business are learnt from our upbringing, schooling and interaction with other people. Failures of some people, in a way, also makes them entrepreneurs. Take a look at a poor person, who has a weak educational background. In today’s world, such a person cannot be employed formally. They have to look for ways to fend for themselves and their families. It is through their struggles that they gain the courage to start their own start-ups and make money. Here, they do not have any other choice. The consideration that they must be born entrepreneurs does not apply. Based on this analysis, an entrepreneur would most likely be a person who seeks to improve their lives by making themselves successful.
2. Entrepreneurs are made through experience
Even though a person was born with the said innate entrepreneurial skills, it would be useless if they did not look for experience. Experience is a major component in business. It enables one to learn about how things work and how to identify new opportunities among other profitable ideas. It goes without saying that a person learns these skills. If they work in a firm for quite some years, they have all the guidance the need to create their own ventures. This explains why some people start off life by being employed. After gaining experience, they open their own business and become successful at it. Obviously, nobody is born with experience, which is why a lot of emphasis should be put on the argument that entrepreneurs are made.
3. Entrepreneurs are made through challenges
When you listen to people talk about their journey in business, most of them will say that they encountered challenges. They have had to acquire certain skills so as to achieve success and overcome obstacles. If it was the case that entrepreneurs are born, then many entrepreneurs would have given up. The world keeps giving people challenges and even if they are not related to business, they can affect business as well. For instance, if an entrepreneur loses a loved one, the devastation and sadness that builds up can affect their business. Therefore, a person has to be in a position to overcome challenges that are not related to business, a character that has to be learnt and built.
4. Entrepreneurs are made through education
Today, a person can pursue very high levels of learning in business. They are equipped with knowledge on how to open a business, how to identify target markets, how to identify growth opportunities, among others. People also learn leadership, management and technical skills that they can implement so as to earn a living.
Conclusion
A question may be posed; are entrepreneurs born or made discuss with examples and reasons. You should reason that entrepreneurial skills can be innate or learned from external forces such as experience. One thing that is clear is that nobody in this world knows everything. Some people are very good at leading. Others possess exemplary management, research, marketing, innovation and decision skills among others. Therefore, every person requires the input of another so that their business can thrive. Those people who have innate characteristics need experience to enhance their skills. Those who were not born with the skills will require learning from those that possess them.
The debate on are entrepreneurs born or made should not prevent people from pursuing their business goals. What really matters is the passion that a person has towards the business they do and how much they are willing to sacrifice to achieve success. If a person pursues something for the wrong reasons, they are likely to fail. Contrary, pursuing a business venture that somebody loves can see them achieve huge success.
Being an entrepreneur today requires a person to be on the lookout for the latest trends in technology. When a new advancement takes place, the needs of people differ. For instance, when online banking was introduced, people started using it more other than going to make long lines in the banks. As a result, entrepreneurs developed online payment gateways to facilitate online transfer of money. As such, entrepreneurs must identify the changes in what people want and accommodate them in their daily lives.
Also, entrepreneurs need to create a habit of continuous learning. Reading books, periodicals and magazines can equip a person with new knowledge that can be used in business.
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Source: YEN.com.gh
