January 13, 2018
(LevelUP)- One of the key tenants of the mission of LevelUP is to impact local communities through entrepreneurship.
To many people, entrepreneurship is the equivalent of starting and running a business. While this is certainly true in many cases, I am approaching the subject today with a broader point of view. I assert that a person can be entrepreneurial and never actually start a business.
Entrepreneurship is defined as,
“…the pursuit of opportunity beyond resources currently controlled.” (Eisenmann)
Let’s break this definition down.
Firstly, an entrepreneur must know how to pursue. I am talking about a person’s relentless singular focus on a long-term goal. An entrepreneur must be able to pursue in the face of discouragement or negative feedback.
Secondly, an entrepreneur must be able to see and act on opportunities. Opportunities can be more than business ventures. Learning new skills, building your family, helping others succeed, deepening relationships, and giving back to the community are all entrepreneurial opportunities that do not necessarily involve starting a business.
Lastly, an entrepreneur must be very aware of the constraints of the resources he/she controls and be willing take the risk of pursing an opportunity. A general rule is to never take a risk that does not have a significant potential upside.
The word “entrepreneurship”, is often associated with words such as innovation, creativity, and visionary. Many of the world’s great entrepreneurs had these qualities. At the same time, there are many successful entrepreneurs that did not have these qualities. They simply found and pursued an opportunity.
Opportunities are everywhere! Seek and you shall find.
1. Eisenmann, Thomas R. “Entrepreneurship: A Working Definition”. Harvard Business Review. Jan, 10, 2013. https://hbr.org/2013/01/what-is-entrepreneurship
By Brian Williams