Page 124 - 1-Entrepreneurship and Local Economic Development by Norman Walzer (z-lib.org)

What Makes a Successful Entrepreneur? 113

tion. They acquire and adapt their knowledge and overcome obstacles and
problems as any other person would.
Cope (2005) calls for a model of dynamic learning that would combine
the interactive relationship between an entrepreneur, his or her business,
and the environment. The learning perspective on entrepreneurship main-
tains that each individual comes to entrepreneurship with unique experi-
ences, skills, and abilities that would define learning tasks, and the learning
process is characterized by constant change. Learning involves different
modes such as learning by doing, from peers and mentors, from customers,
and through critical events. The entrepreneurial learning perspective can in-
tegrate different approaches in the field to help explain how entrepreneurs
learn and develop.
Thus, differing perspectives have been pursued on the path to an emerg-
ing entrepreneurship theory. This theory has evolved well beyond “old
school” thinking that relates entrepreneurial success to the possession of in-
nate traits. Yet, in its current state, this body of theory is still not actionable
in that it does not give clear direction to enterprise development policy-
makers as to how to successfully foster entrepreneurship in a sustainable
way. It is time to take the next step by shifting the focus to the systemic and
systematic development of entrepreneurial skills.

A Focus on Entrepreneurial Skills
In recent years, evidence from research has mounted in support of the
conclusion that entrepreneurs are made and not born (Fiet 2002; Shefsky
1994). These studies tend to show that entrepreneurs learn from others—
that opportunity recognition is a systematic process that can be learned.
From a practical perspective, this is positive news for those who seek to as-
sist entrepreneurs because it may offer ways to proactively work to build
their capacity for success. The following assertions constitute the founda-
tion for this argument:

• Success in entrepreneurship hinges on the mastery of an identifiable
skill set.
• These skills can be developed.
• Entrepreneurs do not all operate at the same skill level.

The term skills is defined broadly. Entrepreneurs require specific skills if
they are to make full use of the financial and technical assistance resources
they need. This necessary skill set can be categorized into four main di-
mensions: (1) technical skills, (2) managerial skills, (3) entrepreneurial
skills, and (4) personal maturity skills (Gerber 1995; Lichtenstein and
Lyons 1996). Technical skills are the “tools of the trade”—the skills required