What comes to mind when you think of entrepreneurship?
Entrepreneurship to me is this vision; the fire in your belly business owner starting and growing a successful business; taking a risk to build and develop a business idea.
Definition of Entrepreneurship
Business Dictionary defines entrepreneurship as “The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.”
To me entrepreneurship isn’t about taking a huge unfactored risk. It might be about taking a calculated risk maybe, but definitely a not a giant leap of faith… The difference between the calculated risk entrepreneur and the leap of faith is Research and Passion – for there cannot be entrepreneurship without either one.
Don’t Forget Profit
The other key term is Profit. I’m sorry but without Profit, entrepreneurship is doomed. And I’m not talking about replacing your take home pay from a 9 to 5 job. “Risk = Return” in finance circles – and if you’re going to take the (calculated) risk of being an entrepreneur, then I think profit should be factored in there strongly.
The Spirit of Entrepreneurship
Growing a business, building it up and eventually selling it as a successful business is therefore what I consider the basis of spirit of entrepreneurship.
You can do this. You can be an entrepreneur. Research and Passion. The spirit of entrepreneurship is within you.
There is risk. Sure. But I think the rewards of entrepreneurship far outweigh the risks. The spirit of entrepreneurship is with you!