What Influences You?

Entrepreneurs are driven by their passion. Some are driven by the shear act of entrepreneurship while others are driven by the field or business in which they are entrepreneurs. What is behind this passion? Let’s take a closer look at the factors that influence a person to become an entrepreneur. Is it life experiences, education, career displacement, parental influence, or maybe all of the above?

There is nothing more powerful than the wisdom gained from life experiences. Our past determines our beliefs and reactions toward our present and future. You might have had struggles or obstacles that you have overcome to make you the entrepreneur you are today. One very powerful characteristic of an entrepreneur is the fact that they build from their mistakes. Many entrepreneurs are not successful the first time or first few times around the block. They learn from their failures. It is rare that an entrepreneur hits it out of the park on their first swing. They have to get a feel for it before they know the force and technique needed to make a home run. Not all life experiences comprise of struggles and obstacles. Some experiences can pertain to your life passion. For example, it could be a hobby that you had since you were younger that you have made into your business venture. Maybe you have been touched by somebody or something that has fueled you to opening up your own non-profit to help others. Life experiences are the very foundation of who we are and what our business is built on.

The topic of education is quite controversial when it comes to entrepreneurship. Some theorists believe that entrepreneurship cannot be taught, because it is inherent in nature. I would have to disagree here. Maybe there are certain people that are predisposed to being good entrepreneurs. For example, a person who is outgoing and confident that makes a great salesman. The truth in the matter is that there is an entire spectrum of people who are successful in their own right when it comes to running a business. Many people who are entrepreneurs do have some level of secondary education under their belt. These degrees are not just in business and entrepreneurship, but also degrees in specific fields. For example, an individual with their counseling degree wants to open up their own wilderness therapy camp. I believe education can be beneficial to an entrepreneur, because it brings credibility and wisdom to their venture. However, I know several businesses that have been started by people who do not have any additional education and they are extremely successful. I believe it depends on the person and situation.

Another aspect that can influence a person to become an entrepreneur is career displacement. This means that a change takes place in a person’s career or life that makes them consider becoming an entrepreneur. This could mean losing a job or being dissatisfied with the current career path. This is seen all too frequently especially in today’s economic crisis. It is unfortunate to say that many negative situations lead to the making of an entrepreneur. They feel that the grass will be greener on the entrepreneurial side. Sometimes the business will be successful and many times it will fail. Problems will occur when a person rushes into opening up a small business without any venture planning.

It is very possible that the way we were brought up influences our business today. Many times entrepreneurs are who they are, because their parents were also business owners. Now this usually pertains to positive experiences that occurred based on the parent’s business. For example, I have had a positive outlook on business ownership because my father owns a business. He bought the business over four years ago when I was just graduating from undergrad. The business flourished quickly and my family saw great profits and success. The business continues to grow rapidly with an ever expanding customer base. My experience was positive about parental business owning, but for others it does not always result in a positive attitude. Some children grow up in a home with an absentee mother or father and actually resent their parents for the lost time. All the money in the world cannot bring back their childhood. These children have seen the negative aspects of business owning and therefore usually run in the opposite direction. I wonder if I would have thought differently about business ownership if my dad owned a business when I was younger.

When it comes to being an entrepreneur, there is a plethora of reasons we are the way we are. These influences affect the business we choose, how we run it, and how we make it successful. I know personally that my life experiences and parental influences affected me the most. I also believe my education helped prepare me to be a better entrepreneur. What influences affected you the most to become an entrepreneur?