Are entrepreneurs born or made? Nature vs Nurture always has been controversial and it is not an exception when it comes to entrepreneurship. Personality traits are greatly influenced by our genes and play a big role in your tendency to become an entrepreneur. As a result, it is reasonable to think that entrepreneurship traits such as risk-taking ability, tolerance towards the unknown, curiosity, resilience, not giving up, being visionary, high-stress tolerance, and obsessively following a passion can be influenced by genes. Entrepreneurs are very open to new experiences in life, learning new skills, and creating a different path than others. They score high on openness in the OCEAN model. Scientific research explains how genes are correlated with entrepreneurship traits using identical twins. Research pioneered by Scott Shane, author of "Born Entrepreneurs, Born Leaders: How Your Genes Affect Your Work Life", and a professor at Case Western emphasize the roles of your genes on entrepreneurship traits. According to this research, 37 to 48 percent of the potential to be an entrepreneur comes from genes. There are 2 more concepts closely related to entrepreneurship success that may have roots in our genes. These 2 concepts are discussed here.
Marshmallow effect: This was an experiment conducted on kids by Walter Mischel at Stanford University to measure the delayed gratification. In this study, a child had to make a choice between a small but immediate reward, or two smaller rewards if he was willing to wait for a longer time. Later studies proved that the children who could wait a long time for better rewards were likely to be more successful in life. This demonstrated the value of patience in future success.
Fixed mindset vs growth mindset: A person with a fixed mindset is limited by their beliefs. A person with a growth mindset has a flexible mentality that is always open to change his belief system. People with a fixed mindset always avoid challenges, never question themselves, and give up easily. People with a growth mindset believe abilities and talents can be developed with practice and patience. They have a skill-accumulation mentality. They embrace new challenges, and always question their direction in life. Carol Dweck has a book called "Mindset: The New Psychology of Success", which discusses the importance of mindset on future success.