I’ve been studying financial success for over 14 years. Yet I remain fascinated by who succeeds and who doesn’t.
Convention teaches us that those who have money have some common denominators. Things like a good education, a good job, a prosperous upbringing.
But reality teaches us something far different.
Some of the wealthiest people I know grew up dirt poor, with little formal education, and with nothing more than a $10-an-hour fast food job on their resume. It seems that people with such credentials can be either welfare recipients who barely scrape by, or wealthy entrepreneurs who absolutely prosper.
One of my missions in life is to help people prosper. So I spend a lot of time figuring out the difference in the “haves” and the “have nots.”
And I have to say, there don’t appear to be any accurate predictors of whether someone will be financially successful, or will struggle paycheck-to-paycheck.
Simply put, financially secure people don’t appear to be any different from those who financially struggle. I had a couple of experiences last week that reinforced this lack of predictability.
I was in the grocery store at the customer service counter. One service the store provides is the ability to pay your utility bills there. I watched as two people handed the clerk electricity bills that said “Final Notice Before Disconnection” across them. The clerk placed the bills in what was certainly a 1 inch- high stack of other “Final Notice Before Disconnection” bills that were behind the counter.
The people that were paying these bills didn’t look like they were down to their last few dollars. But I was amazed at the sheer number of such bills that were being paid by people right here in my community – so that they could do something so seemingly basic as keep their lights on.
Later in the week I was at the gas station. I went inside to make a purchase. The man in front of me was an average looking guy in his 50′s, I’d say. He handed the clerk $3 to put in his gas tank. Now I suppose, like me, he could have left his debit card at home and just been using the cash he had to get him home.
But, in light of my earlier experience at the grocery store, the man at the gas station got me thinking even more about what separates those who drive Mercedes, from those who can only afford to put $3 in their gas tank.
Could it be that some of us have the “entrepreneur gene” and are just destined to succeed?
Could success be as random as brown eyes?
Why does Mary lose her job and spiral into bankruptcy, while Susan loses her job and uses her entrepreneur spirit to triple her income and go on to build her dream home?
I know in my life, I have friends who I have advised to give up the job hunt and go the road of the entrepreneur. And I have other friends who I would never suggest that to. I realize, somehow, that they just don’t have that in them.
What I’m unable to completely put my finger on is why some people have it in them to be entrepreneurs, and some don’t. Which is what led me to develop my only partially facetious “entrepreneur gene” theory.
Even if you are inclined to try entrepreneurship, roughly 97% of people who start their own business, fail at it. Is the entrepreneur gene really that rare? And are those who try and fail destined to do so?
Ultimately, I think not. I think you have complete control over your destiny. And over your personal and financial success.
I’ll share with you what I believe makes a successful entrepreneur next time. In the meantime, I’d love to hear what you think about the entrepreneur gene theory!
JENNIFER HERNDON is a work at home mom with three fabulous kids, ages 3, 4 and 7. She has been enjoying the time freedom and financial benefits of working at home for over 13 years. Jennifer’s passion is empowering others to personal and business success through a positive mindset and consistent action.
Jennifer credits the turn-around in her online business to Jim Rohn’s One Year Success Plan, the perfect tool for planning a successful life. Here’s your chance to be inspired and guided daily by the world’s greatest business philosopher. Create your future with Jim Rohn’s One Year Success Plan and start improving your life and your business today!
{ 12 comments… read them below or add one }
I like this very subject! Why do some people not think outside the box at all but have been jobless for weeks or even months, maybe past a year and they are so set into having a certain title. Why wait to get a title that you are so set on when you are loosing the house? I have some friends like this in this tough time but they seem to be so narrow minded that I don’t bring the subjet up any more. I could get on my soap box for this one but I would be writing a book!
GREAT topic and I loved how you explored it. Personally, I think those that succeed versus those that don’t have grit and determination and simply will not quit. I may not the smartest knife in the drawer but I am determined and even through all the failures (especially early on), I keep getting up and moving forward. Thanks for sharing, Jennifer!
Yeah! to controlling our own destiny! There are so many people who just will not accept responsibility for there own life…all facets. The world needs to hear your message. kudos to you for walking your talk:)
This is a great article with even more great insight! I’ve found it to be true that you don’t have to come from $$ to earn money and vice versa. I’ve also seen people who don’t seem to have much but are driving large vehicles and the latest tech gadgets…it is truly amazing to watch our society and notice what they find more important..technology over groceries and electric bills…so sad..
I so agree with you about creating your own destiny. It’s a personal choice to set out on your own and start a business. It’s the point when you realize that you need help with certain areas that can be the turning point for success. Great post!
Ok, I’m really ready to read your next article…I believe I have the gene!!! With some great coaching, I believe I can go far! Thanks for sharing and I look forward to your next article!
Pride. It can be a good thing, then not so good. Thinking outside the box often takes humility, being open to different ideas and ways of doing things. And like an old saying, “What can you teach the person who knows everything…” Hard. Thanks for posting Jennifer. x0x
The LEARNED Preneur @ NormaDoiron.NET ╰☆╮
I have to admit, it’s something I ponder on as well. I wonder what their story is, because I realize we never know.
But I believe that success is a mindset and an attitude. It’s not genetic or predetermined in any way. Anyone who is willing to make the sacrifices and put in the work has the ability and the opportunity to be successful, in whatever way they want to define sucess.
Good article Jennifer. I too believe that people control their own destiny, and I’m looking forward to the next article to see your thoughts on what makes a successful entrepreneur.
Jennifer, this reminds me of an interview I just heard with Larry Winget. His book “Shut up….” In the interview he said people complain about the economy but they need to create their own economy and let the government take care of their own. I do also believe it can be a mindset. I see before my eyes daily — not mine however.
I love this article, Jennifer! I think that in order to be successful as an entrepreneur, you have to not only think outside the box, but have to want it sooooooo bad that you can taste it. I agree with what Marie said, success is mindset and attitude. I might add, choosing what you are passionate about and believing in yourself, makes all the difference in the world. Thank you
I agree, Kim, determination is HUGE. I think you may be the “smartest knife in the drawer,” but I’ve certainly seen people who clearly AREN’T, and yet they’ve been way more successful than others due solely to the fact that they just won’t quit!