Entrepreneurship Defined

In the 21st century, entrepreneurship has been trumpeted so loud that one cannot get enough of this revolution. Are we not witnesses to its significance that almost whatever the average person today clamours for is engineered by the process of entrepreneurship.

The latest modes of communication and food consumption, advanced means of transportation and learning and lots more are by the ingenuity of individuals motivated to make life easier than before.

First thing to note is that entrepreneurship is individualistic. The individual is at the centre of attraction when considering this field and what makes him or her stands out is the extra ordinary ability to effect change positively where it seems unimaginable.  Consider all the top Change Makers you have ever heard of and quiz yourself if by ease one could just have attained the heights reached by them. For this reason there continues the debate of whether entrepreneurship is in-born or anybody can be trained.

It originated from the French word “entreprendre” meaning to “undertake.” Evidently all entrepreneurs are enterprisers who conceive ideas  (which are not all the time superb) and mould them into spectacular products and services whose processes are not easily comprehensible on the face value. Entrepreneurs carry the WOW! factor with them. The power of entrepreneurship improves lives and makes its adopters some “superhumans” whose success principles are “laws” followed by many who aspire to attain such acmes.

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Entrepreneurship was defined by a Harvard prof. Howard Stephenson as the “pursuit of opportunity without regard to resources currently controlled.” Here the definition points out the identification of an opportunity, pursuing it without necessarily considering whether you possess both human and material capitals to take advantage of it. This is what distinguishes an entrepreneur from a business manager.

If you are animated to pursue entrepreneurship, these are certain fundamental questions you should ask yourself daily:

1. Are you cut for this experience?
2. Have you got self belief?
3. Can you deal with repeated failures?
4. Got the expertise needed for the business, if not, ready to learn?
These are just a few to muse.

Ultimately, entrepreneurship is about identifying an opportunity, making a business sense out of it by starting up, succeeding in it and having a positive impact in the life of a fellow human being. So take a step and pave the way for others to follow your footprints. It’s pleasant seeing the number of Africans taking the bold decision into entrepreneurship.

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