Two-Thirds of Entrepreneurs Born Not Bred
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Northeastern University School of Technological Entrepreneurship, October 2006
According to a new national survey conducted by Northeastern University's School of Technological Entrepreneurship (STE), sixty-two percent of entrepreneurs in the U.S. claim "innate drive" is the number one motivator in starting their own venture.
The survey, comprised of more than 200 U.S. based entrepreneurs, was designed to help answer the long-debated question of whether entrepreneurs are born, or bred through work experiences, education or other factors. The survey is the first to ask entrepreneurs to assess how their own experiences and attributes have contributed to their success.
Of note, only one percent of entrepreneurs surveyed identify "higher education" as the primary motivator for starting a business. Other motivators given were work experience (21 percent) and the success of entrepreneurial peers within the industry (16 percent).
The survey also provides a profile of the characteristics common to today's entrepreneurs. Most entrepreneurs surveyed (62 percent) claim they do not have a family member that is an entrepreneur. However, the results identify family members as the biggest inspiration in their life (37 percent). Many entrepreneurs (42 percent) launched their first venture during childhood, through a lemonade stand or paper route. While a majority of today's entrepreneurs consider themselves to be risk takers (88 percent), 44 percent of these entrepreneurs claim they are somewhat cautious when faced with major decisions.
The survey was conducted in conjunction with the launch of STE, the nation's first stand-alone school providing real-world experience to ensure today's aspiring entrepreneur is driving tomorrow's technological innovation.
Northeastern University STE's survey was fielded from September 27 through October 11, 2006. The survey was distributed to Entrepreneur Magazine's subscribers. An email invitation containing a link to the survey was sent to 5,000 people total. There were 202 responses to the survey.
