This is a difficult question as it depends on what cuts you out. Lets look at a few ways in which people have become entrepreneurs, though the list is not exhaustive:
1. They were 'born' entrepreneurs, that is they have wanted to be and have successfully acted as entrepreneurs from childhood.
2. They lost a job, sought another but couldn't find one.
3. They were inspired by an idea or others while on the job and they left.
4. They were heirs to a family business and had to 'learn' entrepreneurship.
5. They were unemployable in conventional jobs.
Now lets discuss each of the ways in detail, as it may determine how successful one would be.
1. The 'Born' Entrepreneurs
You have heard of the kid that baked and sold cakes while his peers where playing at the parks and upgrading their video games. These people have a thing in their genes that gives them a little push that the average individual doesn't.
Greg Davies, head of behavioural and quantitative finance at Barclays Bank noted that there is a surprising amount of entrepreneurial success that can be attributed to genetics or personality development in early childhood. “It’s pretty obvious it isn’t 100% either way. You can teach someone to be better at anything,” said Davies – who has studied entrepreneurial characteristics extensively. “You can teach someone to play the piano but that doesn’t necessarily mean they’re going to be a concert pianist.”
2. The Job Losers
These include your neighbour that worked at an insurance company and lost his job, searched for another for three years and failed, and is currently a business owner. These people can be quite successful sometimes. What accounts for their success? Emotions are a strong element of entrepreneurship - the thought that you have no options - real or imagined.
People have an enormous capacity for change, admitted Doug Richards, founder of School for Start-ups and former investor on the TV show, Dragon’s Den. As they grow and undertake new tasks, they become more confident, he added. There is also a significant amount of information that can be learned through lessons. And as that knowledge expands, other intangibles such as ability to calculate risk, perseverance, resilience and desire also grows, he said.
The question may be if you have such emotions.
3. The Inspired
Some have been inspired by an idea or successful peers. Many entrepreneurs get started on their path when they come up with ideas and are prevented from implementing them. Jamal Edwards, founder of SB.TV, an online youth-oriented broadcaster, said he worked at HMV when at school and was frustrated by the chain of command that separated his ideas from implementation.
Success will depend on how good your ideas are, and on your implementation skills, as an idea is just an idea and not a finished product.
4. The Heirs
This category of entrepreneurs are nearly destined to be entrepreneurs. Your family owns the Hilton Worldwide and your parents are old and about to pass away. Or your family has a winery in Spain. The first son or daughter or even children are being groomed to take over the business.
This may seem easy on the surface to many but there is more to it. The size of the business matters. If the business is big, then there is a lot of learning the ropes to be done. The kids may take the business down.
5. The Unemployable
These guys are bad for employers of labour. They are too independent or too sick to hold down a job - they have tried and failed! They are an odd mix of overly creative and overly independent personalities and ADHD and Aspergoid personalities pushed too far beyond Google's doors.
The former type are very driven and go on to start a number of businesses. The latter partner with others that complement their social and business skills while they themselves bring the brain that builds the products as they are often comfortable with complexity.
