Are Entrepreneurs Born or Made? Critically Discuss

An entrepreneur is a person or an individual who creates a business that could either be a big or a small business venture. He or she is an innovator with great business plans, new ideas, and services. This helps in the development of a countries economy and also providing employment opportunities. The three most important resources that an entrepreneur requires are capital, land, and labor. Without these, he or she will not be able to achieve their dream venture.

An entrepreneur has the ability and skills which can either lead him to the path of success where he can rise to fame. They then look for further growth opportunities. It can also lead to a failure where he will have to bear financial risks and also may become less popular in the market. Having said this, the important and age-old question that arises is –

Are entrepreneurs born or made? In this article, we will discuss both these aspects.

Are Entrepreneurs Born?

To some extent, there is truth in this statement that an entrepreneur is born. There are two types of entrepreneurs born. First is the one who is born into a family that already owns a business. The second type of entrepreneur is the one who has no resources and no knowledge when it comes to investment, but he or she is full of ideas.

• Entrepreneurial Legacy in Family Businesses: It is not necessary that an entrepreneur’s son or daughter has to become an entrepreneur. However, it becomes easy for an individual who is born in a family that already runs a business venture to get into the family business. It is because entrepreneurship runs in the family.
• Resource Availability in Family-Owned Ventures: Entrepreneurs require resources like capital, land, and labor. It is usually not that difficult to achieve these since these resources are already available in the family business.
• Challenges of Entrepreneurial Independence in Family Business: In such situations the drawback is that the entrepreneur born in a business family shy’s away from starting their own business. He or she focuses only on running the family business and carrying forward the name attached to the business for generations to come.
• Drive and Motivation: Many entrepreneurs display a strong drive and motivation from an early age, often driven by a desire to achieve and a passion for their ideas.
• Risk Tolerance: A natural inclination towards taking risks is often seen in entrepreneurs. This trait can be inherent, suggesting a born tendency towards entrepreneurship.
• Innovative Thinking: The ability to think innovatively and outside the box is a common trait among entrepreneurs. This can be an inherent quality, suggesting that some aspects of entrepreneurship may be innate.

Are Entrepreneurs Made?

Many such individuals shape themselves to own a business. Who dares to dream big, and this is because they have a powerful burning desire to be self-employed. Such individuals also go to any extent to take up risks.

• Yes, Entrepreneurs are made. These are individuals who are positive and with powerful self-confidence. They want to be admired as a self-made man or woman.
• Such individuals do not grow overnight, but they grow with time. It could be a dream or a vision that they have always wanted to achieve since their childhood.
• Over the years, they have successfully observed the surrounding environment. Maneuvered through many obstacles and experiences in life which has helped them to become an entrepreneur.
• It is their passion to create something new which makes them an entrepreneur. It can also be said that an entrepreneur is created through education. The knowledge that he or she receives through lessons helps the individual to be exposed to new ideas.
• Education helps individuals discover the skills and the natural talents that they already possess. It helps them to successfully use those skills in becoming an entrepreneur.
• However, there is one thing that education cannot teach, and that is to take risks. A self-made entrepreneur can bear risks and take up new challenges.

So as discussed in this article, we can conclude by saying that yes, an entrepreneur is born by continuing the family business that he or she is born in. At the same time, we can conclude that an entrepreneur is also made through education and the natural talents and skills that he or she already possesses. However, there is a big difference between just being an entrepreneur and being a successful entrepreneur.

Are you an entrepreneur?

If you look at any person on this planet, everyone has it in them to become an entrepreneur. It is only that handful of people who can dare to dream big and make it become a successful entrepreneur. Taking risks is innate for a successful entrepreneur. He or she does not fear failure, instead, they focus on spending enough time on improving his or her skills. Strive to gain more experience by observing other successful entrepreneurs and endeavors to sharpen the leadership position in a business. The individual aims to achieve what the world considers impossible. The passion makes him/her give birth to new ideas and come out as a victorious entrepreneur.

• Curiosity: Successful entrepreneurs possess a strong sense of curiosity, which drives them to continuously seek new opportunities and explore different avenues.
• Willingness to Experiment: Entrepreneurs understand the importance of structured experimentation, using approaches like design thinking to test new opportunities. (Source: HBS Online)
• Adaptability: Successful entrepreneurs are adaptable, ready to face new challenges and opportunities in an ever-changing business landscape.
• Risk Tolerance: Entrepreneurship often involves taking calculated risks, with successful entrepreneurs knowing how to balance risk with opportunity. (Source: HBS Online)