What Are the Differences between Successful and Not-As-Successful Entrepreneurs?
Gallup's analysis of 2,500 U.S. entrepreneurs has found that higher levels of entrepreneurial talent significantly increase one's odds of business success. Highly talented businesspeople are:
- three times more likely to build large businesses and to grow them significantly
- four times more likely to create jobs
- four times more likely to exceed profit goals
- five times more likely to exceed sales goals —Sangeeta Bharadwaj Badal, Gallup
A separate study of 111 small businesses in Nebraska delineated a marked difference in the traits of successful and not-so-successful business owners, with the more successful entrepreneurs more likely to take certain actions that pay off for their businesses.
Writer Badal even tackles the question of hereditary and non-hereditary business talent, making a credible case that some people have inherited the right stuff, giving them a considerable advantage over those less fortunate, citing the respected business researcher Scott Shane of Case Western Reserve University and Nicos Nicolaou of Cass Business School, City University London.