Historically, the potential of a person has been perceived as fixed and primarily inherited, thus, different from achievement. Current thinking broadens our view of human potential, not as a fixed capacity, but as malleable and incremental, depending on multiple factors, exogenous as well as endogenous, facilitative or inhibitive. This conception opens the door for new ways of thinking about strategies and provisions of gifted education. In this theoretical analysis, I first critique the traditional trait conception of human potential undergirding gifted education practice. I then present an alternative, a process model of talent development, that views human potential as contextually and developmentally shaped, a result of dynamic interplay of endogenous and exogenous forces, revealing the power of nurture as well as nature. Finally, I discuss the policy and practical implications of this new conception of human potential for gifted education.