I get asked this question frequently. Here’s my answer ….
I believe that 40% of entrepreneurial success can be attributed to intelligence, common sense, leadership abilities, and the timing of the business launch. You are born with these. In the case of timing, it is largely out of your control. This is the hand you are dealt.
Based on my 30 year entrepreneurial career, I can say 60% of success is based on knowledge and skills that relate to the business at-hand. These can be taught and learned. For example the 4 M’s of entrepreneurship…..Mindset, Marketing, Money, and Management can be taught and learned. Specific industry experience can be learned.
This learning is not something that stops when you conclude your formal education….it requires a lifetime commitment. If you’re not spending at least two hours a day reading and learning, you’re not trying hard enough. You will eventually fail as an entrepreneur.
What do you think? Can you learn how to be a successful entrepreneur?