Is Anyone Really Born To Be an Entrepreneur?

If Hollywood has anything to say about it, you would think that certain people are naturals at owning a business. Their success stories show up in movies, TV shows and reality shows, where it seems like they have some kind of “secret sauce” that makes them better at entrepreneurial endeavors than other people. There’s just one problem with this idea: It’s a complete myth. Unfortunately, it’s a myth that hurts potential entrepreneurs, including minority-owned business ventures and female entrepreneurs.

Is Entrepreneurial Success Related to Your Personality?

One component of this popular myth is that certain personality types are more likely to succeed in business. This narrative can sound convincing. After all, who doesn’t want to be like the bold, risk-taking winner who always knows the right moves to make? Like many things in the movies, though, this idea is mostly false as well.

There’s virtually no scientific evidence that your personality or qualities have much of an impact on business success. Some business owners have a no-nonsense attitude with a lot of drive, and others are known for their humble, friendly demeanor and great customer service. Which of these opposites will have greater success? In reality, they both have an equal chance.

Are Certain Qualities Important To Be Successful?

This doesn’t mean that you should completely ignore personal growth or skills. There are important qualities that you need to develop if you want to be a good leader. You need a measure of confidence, good people skills and a positive attitude.

The important thing about all of these qualities is that they’re ones you can develop regardless of your personality. No one is born a good leader or a natural negotiator. These are skills that require practice, training and time.

For this reason, education and experience virtually always trump natural abilities. It’s similar to athletic prowess. Some people have a propensity for certain sports, but to excel, they still need to practice constantly and build up their muscles considerably.

Are Minority-Owned Business Ventures at a Disadvantage?

One’s family circumstances can influence business success, but not in the ways many people think. When parents have significant capital available, children may have an easier time opening new businesses. That’s it. For a successful business, every entrepreneur needs to fight.

These days, minority-owned business operators can qualify for financing, opening up many opportunities. More important than background is the dedication, determination and flexibility of new business owners.

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