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Study Reveals That Entrepreneurs Are Not ‘Special Breed’ But Are Mostly Rich Kids



Study Reveals That Entrepreneurs Are Not 'Special Breed' But Are Mostly Rich Kids - World Of Buzz 1

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As the world grows, so do the people. Talented young entrepreneurs are taking the business industry by storm as we hear stories of these fresh minds becoming their own bosses and owning million (even billion) dollar companies.

Why work for someone when you can be your own boss right?

Those words are much easier said than done.

Asia.finance reported that as great as it is that entrepreneurs all over the globe are popping up with their ‘supersonic rise to success’, the reality of it may not be so glorious after all.

“It’s easy to fall into the trap of thinking that with enough attitude, one can succeed and become one of those glorified entrepreneur types.”

– Asia.finance

Many of us believed that entrepreneurs are a ‘special breed’ – someone with talent and dedication. Unfortunately, figures have shown that most entrepreneurs are people just like you and me, only with much more access to extraordinary wealth.

Connections: A report from Reuters have indicated that most startups are created by ex-bankers who have a ton of connections. With connections, startups have a much higher chance of being funded. Because people are more willing to invest in someone they know, rather than a stranger.

Wealth: Most successful entrepreneurs are often traced back to wealthy families. With an easy access to business capital, rich kids can ultimately execute any good idea that falls from the sky. Unlike you and me who would find it very tough to even start a company without initial funds.

“Everyone knows Bill Gates started Microsoft but not many know that his wealthy parents funded his company and helped him land his first client in IBM.”

– Asia.finance

Talent: It goes without saying that besides connections and wealth, you would also need quite a bit of talent to support your business. Asia.finance explained this by the case of Color, where its well-connected founder raised over RM160 million without even having a product, only to quickly fail not long after. A good mix between connections and talent is what keeps the ball rolling.

Of course, that doesn’t mean that not having connections or access to wealth means you’ll fail at becoming an entrepreneur. There are still those who started from the bottom and do achieve great success. Only, it just simply means that it’s harder.

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