Many people dream of the life of an entrepreneur, but who really becomes one? Today, we’ll delve into interesting studies related to entrepreneurship to uncover their stories. Do you possess any of these characteristics?
Underappreciated Individuals
“Why is that person getting more recognition despite working less than me?” If you have ever thought this way, you might be a potential entrepreneur. People like Steve Jobs and Jan Koum founded their own companies because they felt underappreciated in their workplaces. We all seek recognition, and sometimes, the current job doesn’t acknowledge our potential, leading to the decision to start a business.
Studies show that individuals who feel undercompensated in the market are more likely to pursue entrepreneurship. This is often why immigrants turn to starting their own businesses. Immigrants in the United States are nearly twice as likely to become entrepreneurs. Feeling underappreciated can be a powerful motivator.
Multitalented Individuals
Did you know that versatility is a crucial characteristic of an entrepreneur? According to Professor Lazear’s research, individuals with experience in various professional roles are more likely to become entrepreneurs. While only 3% of people with fewer than three professional roles become entrepreneurs, nearly 30% of those with 16 or more roles do.
Modern society is complex. To become an entrepreneur, one needs diverse skills. Beyond being a competent technician, understanding how to create a global business is essential. As the world becomes more complex, entrepreneurs need to possess a broader range of skills.
Individuals with Mental Health Issues
Entrepreneurs are much more likely to face mental health challenges. According to Professor Freeman’s research, 49% of surveyed entrepreneurs admitted to having at least one mental health issue. They deal with conditions like bipolar disorder, ADHD, and OCD, which often contribute positively to their entrepreneurial spirit.
Bipolar disorder can lead to an extreme work ethic, high goals, and confidence, all beneficial to entrepreneurs. People with ADHD can make quick decisions and are often driven by novelty.
Individuals Who Faced Adversity in Childhood
Adverse childhood experiences significantly influence entrepreneurial spirit. A study on survivors of China’s Great Famine found that those who endured hardships were more likely to become entrepreneurs. Surviving the famine required exceptional resourcefulness, self-reliance, and adaptability.
These individuals had to develop a strong survival instinct from a young age, which led many of them to entrepreneurship.
You Can Be an Entrepreneur Too!
The path to becoming an entrepreneur is forged through diverse backgrounds and experiences. Feeling underappreciated, having versatile talents, dealing with mental health issues, and enduring difficult childhoods are all factors that can nurture entrepreneurial spirit. [Believe in yourself and take the leap. You too can become a successful entrepreneur!]
References: generalist.com, “Who Becomes an Entrepreneur?”