• 5 signs you are meant to be an entrepreneur

• Bursting the Entrepreneurship Myth (Part 1) - Nature vs Nurture

• Interesting read - The truth behind self-made billionaires

5 signs you are meant to be an entrepreneur

Can you succeed as a business owner? The idea may have crossed your mind once or twice and you casually waived it off. But then if there was a way of knowing for sure, you may just entertain the idea. Well, I am about to show you 5 signs that could convince you. The very first sign to look out for is;

THAT NAGGING FEELING you just can’t explain but that keeps urging you to set sail into the world of entrepreneurship. You may be tempted to push the idea aside maybe because you do not have any business plan or idea at the moment or your regular job is not so bad. But feelings can be deceiving which is why they should be backed by vision.

VISION drives entrepreneurs and as one writer puts it, “You cannot inspire a team of passionate evangelists without a compelling vision”. A common theme with many change-makers and innovators is their bold vision. Your vision may seem impossible and if you dare to share it, don’t be surprised you get the “Are you crazy” look from people. But this here is why entrepreneurs are often in a class of their own. They dare to dream of what will scare any average person.

You are a DOER - action is what separates dreamers from achievers. If you are a person who prefers to take action rather than sit around complaining, then you may be cut out for the world of entrepreneurship. A go-getter is not fazed by challenges, they simply find a way around it. Remember, “Action gives life to Visions.”

GUTS - according to General Robert Woods, “Business is like War….”. If that is so, then you need much more than a winning strategy to succeed. Guts here refers to the courage to take action. It is not that most people don’t have dreams. The reality is only a few dare to act on that dream. So if you are one of the few who dares to act, then that is another sign you’ve got what it takes.

PERSEVERANCE is one of the five signs that could confirm your place in the entrepreneur’s hall of fame. Bright ideas, a great team, guts, and vision barely stand up against failure. An entrepreneur’s best chance against failure is a persistent character. Not that other resources don’t matter, they do, but failure is barely driven back by goodwill. You need to be relentless and persevere.

If you see these signs, then perhaps it is time to heed the call and try your hands on business.

Bursting the Entrepreneurship Myth (Part 1) - Nature vs Nurture

You have probably seen the debate on whether “Entrepreneurs are born or made”. It has been a long-held belief that the traits that make a successful entrepreneur are inborn. For example, while most people can learn to take risks, some seem to be naturally good at it.

These natural-born risk-takers were considered better equipped for the tumultuous and uncertain world of entrepreneurship. It soon became clear that risk-taking is hardly enough reason for anyone to start a business, let alone succeed. In addition to risk-taking, you need a winning strategy, an understanding of the business environment, and good decision-making skills.

All of which could be learned. This observation sparked the debate on whether entrepreneurs are born or made. While some people seem to be divided on this, I think that both inborn traits and learned skills are needed to succeed as an entrepreneur. Each one on its own is only half of what it takes to succeed and you need both halves.

There is certainly an advantage to having inborn traits like being a natural risk taker or having the charisma of a leader. The advantage is that you can easily learn the other half. But those who don’t have these natural talents may find it very challenging to learn them. However, the good news is that it is not impossible.

There is another solution other than learning the other half of what it takes to become a successful entrepreneur. The solution is finding people who have the qualities you lack. These could be an employee or a co-founder. This is by far the easiest way to make up for those inborn traits you lack.

A good example of this is Steve Jobs and Steve Wozniak. While Jobs had the natural charm and charisma of a leader, Wozniak had more of the technical skills. Together the two men were able to build one of the most successful companies in existence today.

Interesting read - The truth behind self-made billionaires

You have heard the word Self-made. It is such a simple concept that no one pauses for a moment to give it a second thought. Perhaps it is because we all aspire so much to be like those who have amassed sufficient wealth to be adorned with this title. But one man took a closer look and broke the spell, his name is Robert Reich, a professor at the University of California.

According to him, the consensus surrounding the self-made individual is that they attained unimaginable heights through hard work and anybody could do the same. Simple right? Although most people would prefer to live in this imaginary world, comforted by the knowledge that if they only worked harder, they could become the next multi-billionaires. That is hardly always the case.

The reality is that there are so many self-made individuals who had unfair advantages less often portrayed in the rags-to-riches stories. For instance; Bill Gates landed a good deal during the early days of Microsoft with the help of his mother’s connection. Jeff Bezos’s parents invested over a quarter million in Amazon and Elon Musk could easily turn to his parents for a raise when he needed one.

There is the saying that the rich get richer and that is no old wives’ tale because according to Reich, the system is rigged to favor the rich. This has been a constant bone of contention in our society especially when news of seemingly wealthy individuals evading taxes gets to the ears of the common man. If indeed wealth begets more wealth, then why are these people referred to as Self-made?

In my opinion, Reich’s analysis of the situation is only true in part. There are indeed entrepreneurs who have become multimillionaires by sheer hard work and good decisions. They may not be so many of them but that doesn’t mean they do not exist. Nevertheless, it is impossible to eliminate the fact that their success is not a product of hard work alone, but timing and opportunities as well.

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