Entrepreneurs' Personal Values, Compensation, and High Growth Firm Performance - Essay Example

Some of the three critical characteristics of an entrepreneur include focus, creativity, and risk-taking. With the successes gathered by high-level entrepreneurs who barely attained a high school education in preference of pursuing their life dreams in entrepreneurship, one concludes that their success was inborn due to their youth and relative inexperience. Research has shown that different aspects are central for one to become a successful entrepreneur. Tomczyk, Lee, and Winslow (2012) portend that although personality and motivation (inborn characteristics) affect entrepreneurial prowess, the factors are, in turn, influenced by adjustable factors such as physiology, family, culture, and demographics. Skills and abilities also play a crucial role in the establishment of a successful entrepreneur. It is clear that a successful entrepreneur combines both inborn characteristics such as motivation and personality with gained traits such as education and work. This affirms that entrepreneurs are both born and made. The personal attributes of creativity and risk-taking are excellent foundations for a successful entrepreneur. However, strengthening them with education and experience makes a person stand a better chance of being successful. Otherwise, how would a person be successful if they do not combine both traits?