Entrepreneurship is for the bold, the innovators and disruptors who see another path, a better way of doing things, a more effective way to help. The debate of if entrepreneurs are born or made has spanned history. Perhaps the reality is that there is a bit of both happening. Maybe the people primed for entrepreneurship harness just a bit more independence of thought, or a slightly different neural pathway to where they are always observing, seeing things from different perspectives and able to suss out what works and does not work.
And if they take those natural tendencies and fully embrace them, develop them, even, then therein might be the consummate businessperson.
Yet there are those in this massive world of over seven billion people who may not recognize their innate abilities, and their potential if they were to hone some skills or make the leap to fully embrace a brave new world, one in which they can use their abilities to help create something themselves.
Still others take their fledgling voyage into entrepreneurship by immediately jumping into a business plan and getting mired in tedium, quickly forgetting their initial inspiration and passion.
Steve Jobs and Steve Wozniak were college dropouts who started Apple because they wanted a user-friendly home computer that was affordable. Launched in a home garage, the company is now the world’s largest tech company by revenue and since January 2021 is the world’s most valuable company.
Some entrepreneurs will say that a healthy level of intrepidness is necessary, while others will say it takes both a good idea and a good amount of luck.
Kris Thorkelson, owner of Thorwin Properties, transitioned from owning and managing pharmacies to the world of commercial real estate.
“I never really considered entrepreneurship until the opportunity presented itself. I then did a self-assessment of sorts, and decided to build upon my innate character traits in order to grow with the role of entrepreneur. That is key for anyone purchasing or starting a business from scratch: be willing to learn; have a thirst for knowledge in your field and in general,” Thorkelson said.
That leap into commercial real estate takes real grit, even for the business savvy.
Real estate development CEO Jay Sugarman saw potential when he first visited the once-popular seaside town of Asbury Park, N.J.. The infrastructure was crumbling and he decided to breathe life into it via substantial investment. Now, he is in the midst of turning it – once again – into a world-class destination.
He saw the diamond in the rough.
“In his mind’s eye, he got an idea of what the area could be, not what it was. That kind of vision is important to help you get past challenges,” added Thorkelson.
Sugarman outlined seven tips for aspiring entrepreneurs in an Entrepreneur article: be objective, but think big; have a unified vision and don’t let it get clouded by thinking too small; forge a new path and be bold about it; respect the past, be willing to fix what others would tear down – just for history’s sake; show, don’t tell – to physically experience a building will always make things more palpable than a rendering; be willing to break some rules and disrupt the usual order of things; be confident in your vision.
“Making the leap to business ownership is a multidimensional process, one filled with numbers and naysayers. You really have to balance listening to your close advisors and also to yourself and that internal, driving voice that says, ‘I need to do this,’” added Kris Thorkelson.