Monday, 24 March 2008
Born or made entrepreneurs † It is not just in the genes!
"I never thought I had it in me" is a phrase which is heard quite often. There are also rather too many models of heroic leadership that seem to convey the impossible or perhaps the impression that being an entrepreneur is for those with the right genes!
But, if we think about becoming an entrepreneur as a career choice, it is not for everyone. This is not because we have to be born into such a career, anymore than we are born into academia or management or the armed forces!
Entrepreneurs are both born and made. So the argument is not to ask if they are born or made. We can make both assertions because there is no empirical evidence either way and we can refute both claims for the same reason. So what can we discern about the key entrepreneurial characteristics that may be unique to some people?
Entrepreneurs typically show higher levels of risk tolerance and ability to cope with ambiguity. They are also alert to opportunities, in the sense that they are able to make connections between apparently unrelated events and turn that into a business. They are also incorrigibly optimistic, creative in finding resources and solutions to problems. They are also highly self confident in their ability and have a strong belief in their own motivations and abilities. As Peter Drucker said, entrepreneurship is a discipline and it can be learned.
Some of these characteristics may well be what we are born with, but they are shared with people from all walks of life to a greater or lesser extent.
The counterpoint is that entrepreneurs are made and this is also true, because we see that to be successful as an entrepreneur we need to be in the right environment wher ...