There have been many research efforts devoted to cracking the intrinsic code of the Steve Jobs and Richard Bransons of the world. Are there certain personality types, characteristics, or genes that predispose individuals to risk-taking success? Can we predict who is able turn an entrepreneurial predisposition into action?
Or is it is all about formative experiences during development? Some are nurtured and trained to step into their parents’ footsteps. Others might be raised by the right mentor. They might set up their first businesses while at school and learning how to take risks while the stakes are still small. Can we predict who will turn entrepreneurial training into action?
Over years of working with entrepreneurs here at THNK, we have explored nature vs. nurture as an essential ingredient for development. We have concluded that there is an integral third element: entrepreneurs are not made nor are they born, they rise to the occasion. Entrepreneurship is an act. Some entrepreneurs act on opportunity: they have identify a gap in the market where users’ needs aren’t being met, and decide to act on it. For others, “necessity is the mother of entrepreneurship”: they start an endeavor because they cannot access a career that aligns with their needs or find themselves in situation overcome by need to act.