Being “built to be an entrepreneur” touches as much on your genetic makeup as your disposition and experience. Although scholars like Scott Shane and his colleagues at Kings College in London and University of Cyprus found a genetic component to entrepreneurship after observing identical and fraternal twins, there’s only so much that can be linked to genes.
In fact, the team determined that only about 30 to 40 percent of the inclination towards entrepreneurship is innate.
“While your genes influence whether or not you become an entrepreneur, experience matters, too. Genes don’t determine anything you do; they merely infl uence what you do in the same way your life experiences do,” writes Shane in one of his columns for Entrepreneur.com.
“Just as receiving a financial windfall increases your odds of starting a business, so too does having a particular genetic makeup. But just as some people without a penny to their name start companies, so too can people without the genetic makeup associated with entrepreneurship,” he adds.
To have a clearer idea on whether you have good chances at becoming a successful entrepreneur, answer these questions:
• Do you enjoy making decisions and being in charge?
• Are you good at following through on your ideas, plans, and projects?
• Do you have strong people skills?
• Are you good at short-range and long-range planning?
• Do you have the willingness to take the initiative when confronted with difficult situations?
• Are you flexible and can you adapt to changing circumstances?
• Are you willing to take calculated risks?
• Are you ready to learn and accept mistakes that you might commit along the way?
• Are you offering a product or service that people want to buy, and not just something you want to sell?
• Do you have enough money saved up to start your business?
• Will your business plan allow cash to flow as soon as possible?
• Do you have good credit rating?
• Are you ready to test your product/service with the public and are you open to make necessary changes?
If you answered yes to most of the questions above, you have the makings of an entrepreneur.