Is entrepreneurship based on chance or personal drive?
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Some argue that entrepreneurship is based on chance. Many people will not become entrepreneurs because they are not lucky enough to get the chance. However, others believe entrepreneurs create their own opportunity. What is your view and why?
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Solution Summary
The discussion is focused on the premise that business success is not based on chance.
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Entrepreneurs create their own opportunity and value. Leaving the business to chance is something that entrepreneurs are not advised to do. There would only be a few businesses in the world if we believe that entrepreneurship is based on chance. First-time entrepreneurs have only an 18 percent chance of succeeding" (Shontell, 2011). Although some entrepreneurs attribute their success to chance, Gompers, et al (2006) argue that a "large component of success in entrepreneurship and venture capital can be attributed to skill."
Smith (2014) said that "true luck plays only a small part in running a successful business... successful business owners make their own luck by ...
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