Are Entrepreneurs Born or Made?

When we think of entrepreneurs in the hall of fame like Elon Musk, Bill Gates or Mark Cuban, we’re told that they have these natural gifts that made them successful. Elon was an innovator since he first learned how to walk, the stories go. It can feel discouraging — comparing myself to this top-tier natural talent.

I often wonder: are entrepreneurs born or made??

I asked this question to a few practicing entrepreneurs.?

Are people born with certain characteristics that make them a successful entrepreneur, or is it something they build over time? And what are those characteristics??

First let's dive into how great entrepreneurs think:?

I recently read an article by Saras Sarasvathy, a professor at the University of Virginia’s Darden School of Business. Like me, Sarasvathy had set out on a mission to find out how entrepreneurs think — she talked to 45 successful entrepreneurs.?

The article changed the way I approach my thinking process and venture. Master entrepreneurs rely on effectual reasoning — a way of thinking that involves starting with available resources and adapting to changing circumstances to achieve goals. Many of these entrepreneurs can be seen as impatient, not waiting for the product to be perfect but instead launching and allowing a feedback loop to better develop their product.?

I was shocked to find that out of 500 CEOs, 60% of them had not written a business plan before launching their venture. I didn’t know the majority of entrepreneurs were not approaching business the way I was taught in business school — we’re taught the corporate mindset of plan plan plan rather than just executing it. While it is important to forecast, I think people can get stuck in this phase instead of just doing it.

I think that's what sets corporate individuals apart from entrepreneurs. Corporate executives are like the friends who plan the whole trip itinerary, down to the breaks between each activity and the entrepreneurs book their tickets and are just excited to land in the destinations. I am the one to not have a day to day itinerary, but I am trying to be a better planner because you need structure to seize all the opportunities presented to you.?

Entrepreneurs embrace uncertainty, they understand that uncertainty is the only certainty there is, as mathematician John Allen Paulos said.?

Earlier this week I spoke with the Managing Director of the University of Maryland’s Dingman Center for Entrepreneurship Mike Hoffmeyer. He agrees — entrepreneurs are made. He learned this through his own personal experience. In order for him to be where he is today, he needed to build a set of skills. Being in the military taught him discipline and resilience, though he didn’t like taking orders and demands, especially not from people he didn’t necessarily respect. In the military, he had no choice but to follow a rigid structure. Adhering to duty shaped his entrepreneurial attitude.

I think entrepreneurs are made. Every time I set out a goal for myself I first think about what my strengths are and what I need to develop in order to get to where I need to go. My first week of college I sat down with my Introduction to Business professor who is not only successful on paper — he has an insane resume — but exudes a confidence that I would like to emulate. He told me three skills I need to develop are public speaking, networking, and writing. I was determined from then on.

I used to be very timid and had no prior experience with public speaking, but once I took the role as a Whitman ambassador,? I've spent the last four years confidently speaking to groups of more than 50 people each month — with ease.

To learn how to network, I’ve attended several networking events. The first, which I attended by myself, was so nerve-wracking. Hoffmeyer, the UMD managing director, also said he’s naturally an introvert but he always knew networking and partnerships are essential skills, so he has challenged himself to be more of an extrovert. Over time I realized you can always connect with someone over something, as long as you set the intention to understand who people are and ask good questions.

Lastly, well, I am attempting to start a newsletter. Writing is probably my biggest weakness, but I have support from my roommate, Ahna Fleming, a journalism major at Newhouse. She and I have both learned over time that writing is a collaborative process.?

And within everything you have to create, collaboration is key.

So, what do you think: Are Entrepreneurs born or made? Whatever the answer may be, we can all build entrepreneurial skills to continue learning and creating.