Work that 9-5 all your life? Or start a venture and make it big? Or fall down low and struggle to get back up?
Every individual has a different set of interests and a different set of objectives and goals in their lives that are often based on these interests. They further go on to pick people or events ,that they look up to and draw inspiration from in order to constantly move towards and eventually attain their set goals. Role models, in various spheres play a pivotal role in shaping person’s career.
If one has an entrepreneurial mind set and has set foot on that path he is most likely to have role models in a similar field. One picks a role model, often, based on what he has heard, read, or seen about a person, his/her life, experiences, downfalls, and success. The story of the person may be relatable or easily empathised with that constantly keeps one motivated to keep moving forward and overcoming the various hurdles on the journey of entrepreneurship. It acts as a source of inspiration and a sort of benchmark that one wishes to achieve in life if not surpass. So the life and the journey of the role model, if enticing to a person, would impact to a great extent the decision of a person to become an entrepreneur.
A role model could be a person we look up to whether we are or are not in day to day contact with the person or not. Sometimes it is the ideology and the way of looking at life, that are derives through works (books, speeches, interviews, quotes, etc. ) of a person that induces that sense of respect we have to make the person out role model. And sometimes there is a possibility of deriving this inspiration from even animals like in the case of King Ashoka and the spider. Here it can be considered that the spider that tried and tried until it succeeded was the role model for the king not to give up on his empire.
Whether or not a person becomes an entrepreneur depends on what his/her perception of an entrepreneur is, what he does and what it takes to be a successful one.
There is no hard and fast rule that says who is more likely to become an entrepreneur and/or who would be more successful in it.
Portrayal of what a business is and how it works by a parent would mostly lay a foundation in the minds of the child and would change his perception on what entrepreneurship is.
If the parent had, in the past an experience of a failed business, the knowledge of which could be conveyed in different ways to the child.
If the damage done was too harsh, and left a bitter taste to linger, then the parent could discourage the child into becoming an entrepreneur. On the flip side if he gained knowledge and experience from the failure he would be in a position to guide his ward into establishing an enterprise, and teach him and help him no make the same mistakes. Also, if the child watched the parent’s business fail, and the hardships they went through, then the child may refrain from entering the world of business or he may take it as a challenge to do better, to start a business and to succeed.
In the case of the parent being a manager of a large business organization, again there are the two possibilities, to how entrepreneurship as a whole is conveyed to the child. Either the parent can effectively utilise his managerial skill and vast experience gained as a firm background, and encourage his ward to start out on an entrepreneurial journey, efficiently handling the issues that arise by deriving the required expertise from his/her experience in the large organization. Or (on the other hand) be drowned by the world of ease, comforts, lower risk, and perquisites offered by large companies and advice his/her child to travel a similar path and not venture into areas of higher risk, such as the path of entrepreneurship.
It is also a worthy mention that the entrepreneur cannot depend entirely upon the business, at its early stages, for his daily bread. He needs to be in a such a position that he would be able to support himself during the gestation of his business. He should be financially stable, to take risks and to account for any contingencies that may occur during the course of the business apart from meeting his daily needs at least up until the point the business reaches break-even.
I’m the end, it all boils down to the individual and whether or not he has that fervour in him to establish and run an enterprise. It takes constant effort and energy, and a fire, a burning desire, that burns deep within the entrepreneur to persevere and to keep his business running.