Are Successful Entrepreneurs Made or Born?

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?

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About Shark Tank Ratings

Author of "Unlocking Your Entrpreneurial Potential: Marketing, Money, and Management Strategies for the Self-Funded Entrepreneur"
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2 Responses to Are Successful Entrepreneurs Made or Born?

  1. Entrepreneurs have a special something that sets them apart from the masses. Nature or Nurture? I agree, a bit of both. However, the bigger player is the face off with challenges in your past. How did you manage them? Tackle them? And how quickly did you get back up and dust yourself off? At an early age I was left to rely on my own imagination, ingenuity, and tenacity. Those are the cornerstones to not giving up as a business woman. It is why I love doing what I am doing today!! I grew a confidence out of adversity.

    Kristin Elliott
    Owner, innovator, of Doodie Pack
    doodiepack.com

    • Kristin…..I totally agree with you! In my case, I grew up in a dysfunctional family and feel that, in the long run, it helped me become a successful entrepreneur. I became more resourceful, more resilient, and more independent. When you grow up in this environment you go to sleep at nite thinking (hoping) tomorrow will be a better day. This also made me a stronger competitor. I would not let the old man have the satisfaction of seeing me fail. I recommend anyone growing up in poor environment use it to motivate themselves and prove others wrong.

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