• Business

Are Entrepreneurs Born or Made?

“The science behind entrepreneurial success.” 

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Some people seem destined to become entrepreneurs. They spot opportunities others overlook, embrace uncertainty and possess an almost instinctive desire to build something of their own. But are these qualities inherited, or can they be developed? In my case, entrepreneurship was a combination of business opportunity and the realization that I was unlikely to fit comfortably into the corporate world—or be compensated in a way that reflected my ambitions. That realization led me to establish two different consulting firms and spend ten years as the Publisher and Editor of my own inflight magazine. Looking back, I certainly didn’t possess every skill necessary to succeed when I started. Much of what I learned came from experience, making decisions, occasionally making mistakes and figuring things out along the way. Which raises an interesting question: Is entrepreneurship something we’re born to do, or something we learn to do?

Interestingly, research suggests that nature does play a role. According to a 2008 study published in the journal Management Science, researchers Nicos Nicolaou, Scott Shane and their colleagues examined 1,727 pairs of twins in the United Kingdom. They found evidence that genetic differences contribute to whether individuals engage in entrepreneurship. However, the study examined the tendency to become an entrepreneur, not whether someone would ultimately succeed in business. That distinction is important. Being naturally inclined to take risks or pursue independence is one thing; knowing how to manage cash flow, negotiate contracts, attract customers and lead employees is quite another. Those are skills that can be developed. In fact, a 2013 analysis published in the Journal of Business Venturing, examining 42 independent samples involving 16,657 participants, found positive associations between entrepreneurship education and both entrepreneurial knowledge and business-related outcomes. The researchers also cautioned that weaker studies tended to overstate the benefits.

So, are university entrepreneurship programs worthwhile, or does success ultimately come down to a good idea and common sense? The evidence suggests education has value, but it is no guarantee. A 2017 review published in the Academy of Management Learning & Education examined 159 articles and found that much of the research focused on short-term outcomes, leaving important questions about long-term entrepreneurial behavior unanswered. My perspective is that formal education can provide an excellent foundation, particularly in finance, marketing and business planning. But a classroom cannot fully replicate the experience of having your own money on the line, losing a customer or recognizing an unexpected opportunity. A good idea may open the door, but turning that idea into a sustainable business requires judgment, discipline and the willingness to keep learning. Perhaps the more useful question isn’t whether entrepreneurs are born or made, but whether they are willing to develop the skills necessary to turn their ambitions into reality.

The Takeaway: Entrepreneurial instincts may come naturally, but building a successful business requires skills that can be learned, refined and strengthened through experience.