The Business Dictionary defines an entrepreneur as someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker decides what, how, and how much of a good or service will be produced…. OK, the definition is straight forward and speaks to ‘what’ they do and boring…. now let’s discuss – Who are they?
Entrepreneurialism is not a new concept however it has gained momentum and more and more people are willing to take on the risks associated with being an entrepreneur. According to economist Joseph Alois Schumpeter (1883-1950), his lifespan highlights how far back the concept emerges – entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. Schumpeter discovered four traits that seem to be prevalent and speak to their values. They include:
- greatly value self-reliance,
- strive for distinction through excellence,
- are highly optimistic (otherwise nothing would be undertaken),
- always favor challenges of medium risk (neither too easy, nor ruinous).
Boy, that could describe a lot of us… and we haven’t necessarily labeled ourselves as an entrepreneur. These traits cover a wide spectrum and changing the perspective could shed a new light on how you perceive who you and the game plan.
Look at the nonprofit sector. Founders and those that lead NPO’s have a passion, believe in self-reliance, strive to make a difference, are highly optimistic and have accepted a challenge. Ummm…. all the characteristics of entrepreneurs… but in a different context.
The entrepreneurial spirit is alive and well in most of us. We just haven’t put it into the right context. Why not maximize its effectiveness and use the tools to move your goals to the next level whether they are personal or for the organization.
Do you know how to apply entrepreneurial practices for personal or organizational gain?
Are you a closet entrepreneur?
Are you maximizing your skills and passion?
Tell me your story.
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