Who is an entrepreneur? The definition of entrepreneurship or who an entrepreneur is has rapidly evolved over time. Initially, there were various perceptions about who an entrepreneur was. Some assumed that an entrepreneur was simply a young lad who wanted to build a business empire within the shortest time and earn a lot of money. Basically, the life of an entrepreneur revolves around spotting opportunities, taking risks and creating value. Therefore, it is not out of context to say that any individual who often feels the pressure to find new opportunities to create and deliver value to its stakeholders, at whatever level, is an entrepreneur.
Yes, there are large corporations and there are numerous entrepreneurs. Many executives of large corporations often feel threatened by entrepreneurs who seem to be springing up from all corners, somewhat taking over existing expansion opportunities. However, these executives have also become weary of the regular ‘employee-minded’ workers and are yearning for those who would look beyond their job descriptions and find areas of improvement and opportunities to add value within the organisation. The ‘employee mind-set’ is one that limits the employee to only the predefined set of tasks assigned, and not attaching any initiative unless directed by the employer.
Gradually, a global transition is ongoing towards an entrepreneurial society. The world needs more entrepreneurs!
Within schools, NGOs, corporate enterprises and even government agencies, the ‘employee mind-set’ needs to be shown the way out. People need to take responsibility and initiative by spotting new opportunities, taking the required risks and delivering value to the society even whilst on paid employment. They can choose to become “intrepreneurs” within or entrepreneurs outside their organisations.
Entrepreneurship has gone beyond monopolised empires. There are many niche businesses today as a result of fragmented products and services which cater to particular target markets. Even small groups of professionals come together to design and commercialise products for specified clients and build their businesses around serving these particular clients.
Being full of problems, the world is continuously in dire need of entrepreneurs who would simply spot those gaps, see them as endless opportunities to create value, and willing to take the risks required to birth those opportunities and deliver value to the society. Encouraging more entrepreneurs in any developing economy is a good way to foster growth.