CNBC: Can people weak in certain entrepreneurial traits develop them, or are the traits mostly innate gifts?
Badal: It is not an either/or scenario. There are pieces of our personality we are born with. As we experience life, there are areas we learn how to manage and behaviors we can learn how to exhibit, even if they don't come naturally to us.
Talent really speeds up one's ability to master a particular domain. Someone who doesn't have talent or has lesser talent will definitely gain from any support or developmental activity he or she receives. But no matter how hard he or she works, the result of that behavior will only be average. There are many entrepreneurs who are great at designing a product or service but are not focused on profitability. That individual will never magically start thinking about profit in every decision. That's not who he or she is. The answer may be to partner with someone who has that level of talent.
CNBC: Does Gallup have a recommendation on how the testing for entrepreneurial abilities Jim recommends should be integrated into the school system?
Badal: Yes, entrepreneurial testing should become part of the school system. Ideally, every high school should install an early identification system and just make it part of the standardized test package. Every year, schools should test all their incoming freshmen in high school and then provide opportunities to hone and develop their talent. All students should get a developmental report with a group learning session. The high-potential students should get specialized curriculum, internships with local businesses and coaches to help them along the journey.
The result? A more entrepreneurial mind-set among our future workforce and development of everyone's entrepreneurial potential. This will help them, no matter what vocation they choose in life—while those with high potential will get accelerated development toward starting and growing a business.