The life of an entrepreneur is laden with opportunities and challenges, rewards, and risks. As a self-starter, it’s only natural to doubt yourself from time to time. The great unknown, especially during times of uncertainty, can be unnerving to say the least. In economics, it has been said that saving is a prerequisite for capital consumption. Yet, the gravity of these words is only understood by entrepreneurs who risk capital in the hopes of creating a viable business.
Entrepreneurship is the single greatest driver of economic growth in the world; it begins with an idea to solve a pressing problem in society. More often than not, this can be monetized with a blueprint for a workable business plan. The objective is not money per se; it is the advancement of a solution for society. Too many intending entrepreneurs fall by the wayside when the focus is on short-term profits, and not long-term solutions.
Table of Contents
Play by Your Rules to Better Serve Society
Human ingenuity, management expertise, and entrepreneurial passion all have a part to play in successfully initiating a business venture. Many entrepreneurs sell their brainchild to venture capitalists, and investors who have the wherewithal, management ability, and business savvy to take that idea from inception to fruition. One of the greatest bugbears to successful business ventures when entrepreneurs are at the helm is the intransigence of the founding members. In law enforcement, cases are never assigned to officers who are too close to the victim, for obvious reasons.
Emotion clouds judgment, and poor judgment results in losses – something an entrepreneur can ill afford when money is tight, and resources are scarce. All of this talk may lead you to believe that your pursuit is futile, perhaps like winning a jackpot on Desert treasure slots from Mansion. Fortunately, this is not the case – there is no gamble with a carefully-structured plan. While outcomes are certainly not assured in any business venture, strategic planning is the best possible pathway to success that you can plot.
Dream Big to Be Big
Source: Pixabay No Attribution Required
Entrepreneurs are invaluable assets in the business world. These are the thinkers, the doers, the innovators, the risk-takers, and the people who make things happen. Entrepreneurship is about unique personalities who drive economic activity. It’s about high-quality human capital, with the wherewithal to bring experienced professionals together in the hopes of delivering a product or service to market. The value proposition that entrepreneurship brings to the broader economy is worth infinitely more than its monetary value.
The creative energy expended by entrepreneurial teams often goes on to spur additional economic enterprise in complementary industries. Nowadays, the entrepreneurial flair we are seeing is geared towards the virtual arena, with e-commerce, online and telephonic systems for goods and services, customer support, and related activities. The level of sophistication required by today’s entrepreneurs diverges significantly from those of yesteryear. Skill sets are needed to successfully navigate the veritable minefield of competition, alternative products, services, and systems that currently exist.
Be the Change You Want to See
It is estimated that some 600 million+ entrepreneurs populate planet Earth today, with millions more waiting in the wings. By creating businesses and solving solutions, entrepreneurs invariably scale operations and generate profits. There are many forms of entrepreneurship, including social entrepreneurs who seek to bring about changes to the way society functions. Entrepreneurship is about freeing your creative spirit, spreading your wings, and bringing solutions to the market.
Transformative entrepreneurs abound, including Richard Branson, Bill Gates, Elon Musk, Steve Jobs, Jeff Bezos,Warren Buffett, Larry Ellison, Mark Zuckerberg, Carlos Slim Helu and company. The next entrepreneur may not be a Silicon Valley computer aficionado; it may be someone out of a remote African village or the jungles of Latin America. Power is in your hands, carpe diem!
About Carson Derrow
