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Entrepreneurship skills

According to a MIT publication, immigrants in the USA are twice as likely as natives to become entrepreneurs (1). They start more companies in all sectors and of all sizes. They expand labor demand relative to labor supply. And not just that. A Harvard study stated that companies founded by immigrants grew at a faster rate and were likely to survive longer. (2)

There is not a single trait or circumstance that explains this phenomenon. So the question is: Why do immigrants have a bigger rate of creating companies and succeeding with them?

1. Immigrants are risk-takers. Coming to a new country is a risk in itself.

2. They bring diversity, which fosters innovation.

3. They speak languages, which brings more connections.

4. They are perseverant, which rises their success chances.

5. Many of them have suffered hardship, so they know how to navigate hard times.

Look at these five skills. What are you doing to enhance them in yourself? In your team? In your kids? Here are some ideas:

1. Get out of your comfort zone.

2. Do a job where your actual skills set are not enough.

3. Go to a country where nobody knows you and doesn’t speak your language. Live and work there for a while.

4. Try to know new people every day.

5. Treat hardship as a challenge. It will bring you lessons for the rest of your life.

As Jack Canfield said: „Everything you want is on the other side of fear“.