Drivers of Entrepreneurial Success

When you are thinking about starting a business it’s natural to ask yourself if you have what it takes to succeed. You see other successful business people and think “how did they get to where they are?”. Then you start comparing yourself against them, and your perceptions of what it takes to make it.

What Does it Take to Succeed as an Entrepreneur?

So what are the main factors in order to make it in business, or as an entrepreneur? Maybe you’ve thought that to hit the big time you need one, or all, of the following:

*MBA from an Ivy League School
*A great idea that nobody has thought of before
*Luck
*A “secret” weapon that guarantees success?
*Good looks
*All the above

There must be something right…I mean they are successful people, and if you haven’t even begun it can be pretty easy to assume they have something that you don’t. Keep reading.

The Real Drivers to Entrepreneurial Success

In a recent survey conducted by SurePayroll of small business owners and entrepreneurs, when asked “What are the drivers of entrepreneurial success?” they answered:.

1. Person’s drive and ambition 27.2%
2. Person’s passion for a specific business venture 14.9%
3. Hands-on experience in the industry 13.5%
4. Easy access to capital to start a business 13.1%
5. Personal connections 11.5%
6. Family members who are entrepreneurs 10.0%
7. Formal education 9.9%

If you’ve been sitting on that great business idea because you were second guessing whether or not you have what it takes to succeed, this survey should give you reason to rejoice.

I don’t doubt for a second that anyone who reads this blog on a regular basis doesn’t have drive, ambition, and passion.

If you’re thinking about starting a business – those top three should come naturally. And look how important they are in the minds of all those “successful” people that you have been comparing yourself too.

Does that change your outlook at all on what it takes to make it?

Let’s hear from you. Do you think the survey responses reflect the true drivers to entrepreneurial success?