What Is Entrepreneurship Really About?
What is entrepreneurship? For starters, it is not just about what is entrepreneurship. There are a number of definitions of what is entrepreneurship that people have come up with over the years. Below we discuss what exactly entrepreneurship is about so that you can get to know what it is and what it entails.
In its most general sense, what is entrepreneurship really about is the production or extraction of profit. With that definition alone, however, entrepreneurship is seen as significant change, usually involving some risk, beyond what is usually experienced in beginning a new venture, that can include other personal values other than purely economic ones. Some would say that in a more technical sense, the term refers to the process of creating something through the application of technological innovations. In the final analysis, however, those who have developed different definitions of what is entrepreneurship have provided little guidance on what it means to an individual.
To understand entrepreneurship brainfully, it helps to take a closer look at what it is. The true essence of entrepreneurship, after all, is determined by the individual entrepreneur. This is because no two entrepreneurs are alike. Each one is motivated by personal factors, tastes, and passions. Thus, in order to understand entrepreneurship, it helps to take a closer look at who an entrepreneur is, what drives him, what he wants to do, what drives him to create, and above all, what drives him to succeed.
Some individuals define what is entrepreneurship really about as being the driving force behind wealth creation for the average person. This may be true to some extent. After all, although there are many theories that explain what causes the economy to operate, very few offer specific explanations as to why an entrepreneur creates wealth. Still, a number of these theories have been tested in a number of experiments. For example, several researchers have discovered what causes people to buy, sell, and invest.
When looking at what is entrepreneurship really about from the perspective of the average person, it becomes clear that it is primarily driven by an individual’s desire to create wealth. Therefore, entrepreneurs take on the task of creating wealth. However, as with any task, if they do not enjoy what they are doing, they will likely stop. What separates the truly great entrepreneurs from those who are merely “good at what they do,” as opposed to “good at building things,” is the entrepreneur’s passion and motivation.
It is important for a person who sees a problem in the world and immediately focuses on creating a solution to be able to answer questions about what is entrepreneurship really about. In order to do this, the entrepreneur must first identify what motivates him or her. Once the motivation is located, the next step to take is to choose the right business. For example, if the entrepreneur identifies that what is entrepreneurship really about is being able to help people solve their problems, then he or she will choose a business that allows him or her to do just that.
Finally, another question one may ask what is entrepreneurship really about is what drives an entrepreneur to continue in the face of adversity. After all, an entrepreneur must have the self-discipline to push themselves beyond what their friends or their families might think is “courage.” And the entrepreneurial spirit requires an entrepreneur to continually look for opportunities that might create new jobs or new businesses. The only way to accomplish this is to understand that although failure may be a factor that makes an entrepreneur “retreat,” it is usually only a temporary setback.
So what is entrepreneurship really about? It’s about finding a way to creatively solve problems. It’s about seeing things that could potentially go wrong and figuring out a way to turn those negatives into something positive. And it’s most importantly, it’s about taking risks. An entrepreneur must realize that failing “just once” is nothing compared to the many “just misses” that can occur during their journey to success.