Entrepreneurship: Are People Born to Be Entrepreneurs?

Are people born to be entrepreneurs? Or is it a skill that anyone can learn?

You might be interested to know that there is actually impressive research on this subject. Nicos Nicolaou from the Cass Business School at London’s City University and Scott Shane from Case Western Reserve University did the study. They found that inherent abilities, those you were seemingly born with, account for about 37% to 48% of entrepreneurial success.

This means that all entrepreneurs, whatever their natural talents, must learn the craft. Some people simply have a larger head start than others. They come into this world with personality traits that are strongly aligned with entrepreneurial effectiveness.

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Innovation: What to Do When You Don’t Have Enough Resources

Business startups routinely find themselves short on resources and without the funds to secure them. This very set of circumstances has spurred some of the greatest innovations in business history.
Indeed, the better funded a startup, the greater the likelihood of its early demise. With plenty of money to work with, the startup is not forced to find innovation solutions to its most pressing problems. Instead, it merely throws money at them, until one day there is no more money to throw.
Startups who are short on capital, on the other hand, innovate out of necessity. And great companies, like Southwest Airlines, have been born out of those very types of situations. Reality may force us to accept a shortage of resources. But nothing forces us to be short on innovation.

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