Historical Paths to Entrepreneurial Success in the US

Several years ago I did a simple study with a colleague at Harvard Business School to see if the highly successful entrepreneurs a century ago in the United States were any different from successful entrepreneurs today. One of the more interesting findings of that study was that the backgrounds and motivations of entrepreneurs in the two periods studied were indeed noticeably different. In 1917, entrepreneurs tended to be those who were denied other avenues to success. In 1997, successful entrepreneurs tended to be those who had other avenues open to them, but who were able to take on higher-risk opportunities.

I won’t say that the American experience has direct implications for entrepreneurship in developing countries today, but I do think it is important to keep in mind that entrepreneurs in different circumstances can have contrasting motivations and opportunities. To learn more about famous and forgotten great entrepreneurs of the past, read “The Entrepreneurial Roots of America’s Largest Corporations,” published by the National Commission on Entrepreneurship.

Published Date: November 26, 2008