What makes 'em tick?

I just went though one of my old blogs and found myself wondering why I didn't take more time to write anymore. I couldn't come with any excuse that sounded reasonable even to myself. So here goes...

I attended a seminar recently organized by Terumo Penpol Ltd. here in Trivandrum. The focus of the discussion was on Developing an Ecosystem to Foster Entrepreneurship. There was an eminent panel of speakers and discussants to throw up various view points on this much-discussed topic.

I found certain interesting takeaways from the session. Foremost among them was the revelation that a conducive, benevolent ecosystem did not really foster entrepreneurial growth. There seemed to be a disconnect between economic growth and growth of entrepreneurs in the country. Or so the research revealed.

This seems to counter-intuitive to what should be reality. After all, who wouldn't set up shop if Govt. policies allowed you to open even a small scale industry with minimum hassle? But apparently better policies and transparent governance doth not produce more businesses.

So the question arose, did the environment even matter or was it was the individual’s traits that created an entrepreneur. If the ecosystem did not really make a difference, and in fact, a hostile ecosystem seemed to produce more entrepreneurial activity, then what were we even discussing?

I have slightly different take on this, and that is this… What creates or forms these so called ‘entrepreneurial traits’? I believe there is an ecosystem that fosters nurturing entrepreneurs outside of the conventional definition used in the research above. It is the ecosystem that creates leaders, thinkers and hence, entrepreneurs. (Aren’t entrepreneurs leaders and thinkers?) 

I believe that the true ecosystem that supports entrepreneurship is social, in the form of education, family and social support systems, an attitude that encourages risk-taking and advocates not to fear failure. Who was it that said failure is the stepping stone to success? Apparently the Western world (read: the US) tends to look upon failed entrepreneurs more favourably, for are those who dared to try. Unfortunate that the mindset in this part of the world tends to view failure as a stigma and not experiential learning.

(As a teacher, I probably should make it explicit that I’m condoning learning from that failed experience. Not flunking your exams!) 

But I do believe that it is may be better to fail having given your dream everything it deserved, than not try at all for fear of social stigma. Statistics (again, from the US) show time and again that people (rational ones) tend to not repeat their mistakes. So a failed entrepreneur is more likely to succeed than a newbie. 

The fear of failure is just one part of the ecosystem. The foundation for the rise of any entrepreneur is laid much earlier in his/her life, usually in some early part of their school life. A familial and educational system that nurtures dreams and creative thought could produce more entrepreneurs. These seem to be common traits for all risk takers - the determination to win (or survive atleast) combined with maverick ideas that go against the grain.

I believe the first layers of an entrepreneurial mind are formed early, sometimes even before they reach middle school. The do's and don't's of societal norms possible restrain many and nudge them onto the trodden path of a 'safe career'. The mavericks jump out early, some try to break the mould later. But they break their way out in the end. For after all, they are meant for other things.