I have heard about word “entrepreneurship” for first time when I decided-more than twenty years ago- to join “Facebook” which was like a big step worldwide and almost every one were talking about how an idea like “Facebook” was an example of the concept of “entrepreneurship”
Have you ever heard or read about “Entrepreneurship” anywhere!??
Let’s go backwards throughout time to 1940s when an economic theory named; “creative destruction” was described by Joseph Alois Schumpeter. He is considered the father of entrepreneurship and the one who introduced its concept. He was an American-Austrian economist and one of greatest intellectuals in 20th century.
His theories focus on considering entrepreneurship the cornerstone of capitalism system. His book; published in 1942; is still- up till now- one of important references to economic evolving. His theory depends simply on the concept of replacing old ideas and technologies with new ones. His book opened up the window to incredible growth in the whole world of entrepreneurship.
Joseph Alois Schumpeter (1883-1950)
How does entrepreneurship be important in 2022 and further?
Regarding business, keeping offering products and services as usual is good, but-of course- offering new products or innovative services is better business-wise. As we live the era of continuing and non-stopping development of technology, the importance of entrepreneurship is increasing every single day.
Here are some of its importance in any market:
• Empowering the economy at both levels; individual level and the the society level. The entrepreneurship plays a very important rule to accelerate the economy by offering a large number of jobs and opportunities and enhancing best utilization of available resources.
• Promotion of innovation: entrepreneurship creates an environment of continuous learning, searching and improving. That leads to innovation in a great way.
• Making social changes: no doubt that focusing on improving the existing services or finding out new ones will lead eventually to social improvement. The social changes that happened by entrepreneurship is irreversible and make other entrepreneurs eager to offer more and more comfortable and luxurious benefits to the society.
Nowadays any one can benefit from the expansion of every field that creates a lot of pathways to financial profits. But, how can you or anyone do that!? Here are Top 5 criteria of an entrepreneur that can’t start without them.
Although entrepreneurship is considered an open market for all, but it’s not easy for all! There are criteria that is very important for anyone to think seriously about it before taking any step. We are going to mention the non-neglectable criteria rather than important criteria generally.
The top 5 criteria for an entrepreneur are:
- He can catch an innovative idea: it’s well known that no idea means no business! We can modify: no innovative idea, no entrepreneurship. The creative idea is the cornerstone which can replace the old one smoothly and add comfortable service to the customers. The idea has to be attracting, creative and offering solutions for something difficult or missing. In short, it should change the market in a better way even by any percentage.
- He can take the risk: all -meaning all- entrepreneurs are brave enough to take risks to start their startups. Any new idea includes some fears because absence of the duplication or viewing the end stage of that business. So, building your business on a new idea is completely risky financially. If you are ready to take risks, welcome to entrepreneurship world.
- Passionate about the idea: passion word is used dramatically most times to encourage others to love their lives but the importance of it is more magical as you can imagine. Some pathways can be went through with/without passion. Other paths are difficult without passion. Entrepreneurship is impossible without passion! If you don’t have passion about your innovative idea, you can’t make it succeed anyway. Passion is your passport to the success land.
- Patience until it works: one of most traditional advices to success. This advice comes to the top here to any entrepreneur. You can’t give up. You must finish it whatever it will takes. Of course, having brilliant vision, clear plans, good steps and hard working are helping a lot to make any project succeed, but also determination of a timeframe schedule is very important. The obvious timeframe for entrepreneurs is “when the idea succeeds”
- He has a leadership skills and powerful: you are the only one who is responsible for it. Dealing with your business that you are the only owner and only responsible person pushes you to max, encourages you to put many plan-Bs, allows you to lead other partners or employees to your vision and goals and keep everything in its place through the whole journey.
If you have these Top 5 criteria that are non neglectable and still reading my article, congratulations! You are almost one step apart from being a new successful coming entrepreneur. Don’t surprise! They all began from exactly your current point.
Are you interested to know about 3 very powerful entrepreneurship idols?!! They are really as kings and queens of that world.
One of best examples and most powerful entrepreneur ever. He literally has the 5 criteria and beyond. His name now is connected to any speech about money or fortune. Beyond that wealth, there is a lot of incredible patience and passion. He is a very good idol of never giving up as he go through many ups and downs and he kept his way bravely even after he lost everything once. If you ask what to learn from Elon Musk, commit to your idea with endless passion and long patience will be the answer.
The owner of Facebook and the man of metaverse virtual world idea. He is very interesting example of how successful an innovative idea can be turned into billion-dollars business! Follow your heart and trust your gut is the key lesson of Mark story. His belief in his ideas helps him a lot sticking to them.
My favorite iconic successful idol. She is one of most important success stories in last fifty years. With a net wealth of more than 3 billion dollars that makes her one of most recognizable successful women worldwide. She is a perfect example of facing fears and overcoming any challenges. Really she is very powerful lady. Her story is very inspiring in every stage and every step. Her story can teach you clearly how to be strong and brave enough to achieve your worthy goals. Her words: “fight for better life” can shorten her story.
They are not only, there are many other persons who are very successful and inspiring. We prefer to mention some just to help you picking up a mentor. It’s very useful to know more about previous successful people before you start your own success story.
You can be inspired by them or keep searching for other inspiring stories. Maybe in the end, your name will be among their names. Who knows!?