Entrepreneurship is a broadly used term and often misconstrued. On this post, I will be discussing the following:
- What is entrepreneurship?
- Drivers of entrepreneurship.
- Different approaches to entrepreneurship.
- Roles of entrepreneurs in society.
- Are you an entrepreneur?
- Entrepreneurial psychometric test & training.
What is entrepreneurship?
Entrepreneurship is considered the ultimate career in capitalism. It is defined as the capacity and willingness to develop, organise and manage a business venture along with any of its risks to make a profit. A more modern definition incorporates individuals that transform society through their creativity and problem-solving ventures. Starting new businesses is the most obvious example of entrepreneurship. There are over 400 million entrepreneurs worldwide. Next, we will be looking at the driving factors behind this venture.
Drivers of entrepreneurship
Logically there are several philosophies and entry points to entrepreneurship. In most cases, a key event, motivator or source of inspiration cause entrepreneurs to strike out on their own. I have highlighted some of the key reasons below:
- After suffering a difficult period /event
- Don’t fit into the corporate environment
- Seeking to drive social /industrial change
- The quest for freedom and creative outlet
- An inspired realisation/light-bulb moment
- Early indoctrination into entrepreneurship
- A determination to strive for greatness
- Quest for self-actualisation
Okay now let’s explore some of the philosophies and approaches to entrepreneurship.
Different approaches to entrepreneurship
Again, there are several approaches that entrepreneurs adopt. I have noted the following three approaches.
Capitalist entrepreneurs embark on their entrepreneurial venture to make a profit. This is their prime motive and objective. However, in some cases entrepreneurs may initially adopt the capitalist philosophy, to enable their quest for social change through a different platform.
Social Leadership Approach
Social entrepreneurs embark on their journey to pursue their vision, to transform and create change in society. This group are seeking change through their entrepreneurial venture. They inspire and influence people towards the desired change. Generating profit is a by-product of their higher pursuit. Enabling social change is their prime objective.
Capitalist & Social Leadership Approach
Entrepreneurs that serve both schools of thought. They embark on their venture to generate profits and also inspire change. This could be perceived as idealistic. However, there could be cases when an entrepreneur focuses on profit, to enable them to pursue change through a different platform.
Roles of entrepreneurs in society
Creation of New Business
Entrepreneurs create new opportunities for themselves. Jobs are created for others as they scale up their operation. Most big businesses were initiated from an entrepreneurial venture eg Google. Facebook etc
Entrepreneurs seek to create their vision of society. They think big and take on big challenges with the belief that their offerings would impact lives and drive social change. Their creative offerings enable society to break away from dependency on obsolete systems and technologies which enhances the quality of life
Entrepreneurship is an essential cog in economic development. They enable their societies to remain competitive in the global marketplace. Their offerings increase productivity across several industrial sectors.
Time for us to have some fun. This next question has to do with you.
Are you an entrepreneur?
Okay, perhaps you are sure of your answer already. If you are still unsure don’t worry. Hopefully, I will help you to be certain by the end of this section.
Entrepreneurs attain high psychometric scores on the following attributes :
- Taking Control
Find out if you possess the attributes of an entrepreneur, by taking the entrepreneurial psychometric test. This test targets the 5 attributes mentioned above. It only takes 5 mins. Come on let’s do it don’t be shy <33
To take an entrepreneurial Psychometric Test. Please Click here
If you discover that you are truly an entrepreneur and would like to pursue an entrepreneurial venture online. It is essential to have access to a QUALITY training and support platform where you can interact with like-minded individuals.
I offer 1-2-1 mentoring that helps guide beginners to avoid the usual pitfalls in online marketing. To learn more about my coaching program. Please contact me using my contact form. Due to other commitments sometimes I am unable to offer this service. If you would need my support, go ahead and schedule an appointment so we can discuss your immediate needs and access suitability.
Entrepreneurs are individuals who take their career into their own hands and towards a direction of their choice. They seek to create the change they wish to see in the world. Mahatma Gandhi’s quote, “be the change you wish to see in the world” resonates the entrepreneurial spirit and philosophy.
Entrepreneurship should be encouraged and embraced. We live in a better place because of the sacrifice and vision of entrepreneurs. They persist through adversity and motivated to impact positive social change in communities. They are rare breeds that should be treasured within every society. Socialist entrepreneurs are noble knights of our time. They lead the way to social transformation and change.
To the Entrepreneurs out there having a tough time. Believe me your endeavours will pay off, please continue to dedicate yourself and enjoy the process of acquiring the necessary skills to succeed. I would love to share an inspirational song with you. This song drove me through the darkest times. It inspired me to keep growing and be a champion!
The Script - Hall of Fame
I hope you enjoyed the song and drew inspiration from it. Please let me know your thoughts on entrepreneurship. Why is passion essential to entrepreneurial success? Did you take the test? If so, what is your passion score? Do you feel the psychometric test is a good measure? Leave your comments below.
Thanks for reading and participating, much appreciated. If you ever need a hand or have any questions, please feel free to leave them below. I will be happy to help. Be inspired, be free!
About The Author
Anthony is a UK certified business strategist and consultant. An entrepreneurship mentor and ezine published writer. He embraced entrepreneurship after experiencing an existential awakening. Anthony helps entrepreneurs, aspiring entrepreneurs and small business owners achieve success. You are invited to check out his services page and connect with him via the following social platforms: