In our current economic climate, with many people being forced out of their jobs or working from home due to social distancing from the Coronavirus, the idea of becoming an entrepreneur is something that is occurring to even those who would not have considered it before.
Our goal at Small Business Promote in this blog post is to help our readers understand exactly what entrepreneurship is and figure out if this is something you might want to consider. One thing every entrepreneur has in common is their ability to live comfortably with unknowns. Since we are definitely living in times of not knowing what is going to happen next, this may be your starting point for a journey into entrepreneurship. But be forewarned, once you embark, you will never want to look back, for though entrepreneurship is risky and can be scary, you will never again know this kind of freedom.
So what exactly IS entrepreneurship? Below is what Wikipedia has to say:
“Entrepreneurship has been described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit.” While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to “lack of funding, bad business decisions, an economic crisis, lack of market demand, or a combination of all of these.“
Risk. That is the go-to word when it comes to being an entrepreneur. So many people cannot become entrepreneurs because they cannot abide by any type of risky situation. Since risk seems to have become our new normal very quickly, many people are seeing their old, stale life of no-risk as intolerable. In this Oberlo article, successful entrepreneurs were asked in interviews for their definition of entrepreneurship. That article is a great read for anyone considering becoming an entrepreneur.
Another great resource for interviews with entrepreneurs comes from Pedram Zohrevand. Mr. Zohrevand is the Editor of IdeaMensch, an interview platform for entrepreneurs, makers, and doers. In their mission statement from their website, IdeaMensch has the following to say:
“We believe that:
- Bringing ideas to life is good for humanity.
- The best ideas can come from anywhere.
- Win/win/win situations make the world go round.
- Entrepreneurial sustainability beats short-term profits.
- Shipping an idea is more important than perfecting it.“
There is no better way to learn something new than reading interviews from those in the trenches. Small Business Promote highly suggest that if you are considering entrepreneurship in these uncertain times, you read the interviews at IdeaMensch. We wish you much luck on your journey. If you do decide to embrace entrepreneurship, we would love to hear about your experience. Leave us a comment below and tell us how it is working out for you.