If you have received entrepreneurship lecture in school one of the definitions you might have had about entrepreneurship is they are “people who managed and undertake the risk of establishing an enterprise” some textbooks also like to emphasise on the failure rate of entrepreneurs and with reasons why they fail and hoping that you can figure out how to avoid those reasons.
But the thing is does this really give a clear understanding of what entrepreneurship is all about?
I believe most people have the wrong understanding about entrepreneurship that is why most people shy away from it.
Let get a clearer understanding of who an entrepreneur is because the world around us today is seeking more of entrepreneurs.
Who is an entrepreneur?
Entrepreneurs are people who solve problems. Simple.
Now, how clear was that?
Every act of entrepreneurship is focused on solving problems, I feel this is what should be emphasised more, entrepreneurs create solutions to problems and exchange the solution with money which they use to fund their operations and make profits as well.
If you have read up to this extent, this is where I got the title of this post, will talk more about this tip in content writing.
Actually, I want to admit that entrepreneurs take risks because most times nobody is going to assure you of success, but this also same with almost every aspect of life, we are not might to build our hope on anybody.
Entrepreneurs understand that to be able to get money from the society you need to come with a solution society is experiencing. But the driving factors for entrepreneurs is the money and fame they will get from becoming an entrepreneur, no the driving factor for an entrepreneur is the joy of being able to solve the social, the joy of becoming valuable and useful to the society that is what drives and sustains them during tough days and nights because they excited that they are creating value in the world, they are solving problems.
The problems entrepreneurs solve can be in different areas of life.
If you discovered that a lot of people are unhealthy or suffering from a particular disease in your community and without been told you took the initiative to create a solution to the health problem and exchange this problem on the rate which you believe people can afford to pay, putting all variables in mind, you are an entrepreneur.
Humans now have a broad understanding of the importance of physical appearance, how people perceive your look determines their perception about you.
Naturally, people want to look their best if you can figure out the problems people face trying to look their best and solve it you are an entrepreneur.
Lifestyle problem has been one of the major cause of entrepreneurship in the last century, a lot of businesses and companies today are built upon the idea of making people’s life easier, from the car manufacturing companies down to individuals developing software and apps.
As an individual, if you discover a way to make people’s life easier and happier maybe by creating products or services you are categorically an entrepreneur.
If you can figure out abnormalities in any facets of life relationship, wealth, etc and instead of complaining and condemning things or people you decide to figured out solutions, you have become an entrepreneur even though you are have not got the solution now.
One of the misconception that most people have about entrepreneurship is that it requires running activities in a big factory or office.
This is just a myth, to answer let us look at different scales of entrepreneurship.
1. Small business entrepreneurship
Not all entrepreneurship activities require that you own a factory or an office to engage in it, the most important factor of being an entrepreneur is having the mindset of solving problems and it doesn’t matter in what scale or profit margin you do that.
Small Scale business entrepreneurship include some of the small business that operates in your neighbourhood, probably you engage in one of them, some of this businesses are operated from small shops along the streets in the most town of the world while some are operated from home with the help of tools like computer and internet.
Some of these small businesses include beauty shops, fashion stores, consultant services, training services, etc
For example, I’m an entrepreneur or you can call me infopreneur 😊 (a kind of entrepreneur that provides information, knowledge or ideas to solve problems, lack of awareness or ignorance) while it will always be great to have a factory or an office to operate from in most cases, but for me, all I need to operate is just a device connected to the internet, my skills and knowledge.
2. Scalable business entrepreneurship (startup)
Scalable business entrepreneurship is the kind of entrepreneurship that starts with just an idea, big vision and mission with the hope of growing to something big in the future.
These are kind of entrepreneurship ideas that venture capitalists like to fund because they believe that when the idea is developed it will become something big.
Example of a company that started with this form of entrepreneurship is Facebook. When Facebook started it was just a website that was created to connect students together, then along the process of implementing plans, the idea, vision and mission expanded to connecting the world together, today is one of the largest social media networks in the world.
Another example is Amazon, these are large business today that started in the form of scalable business entrepreneurship.
3. Large business entrepreneurship
Large scale business entrepreneurship start in a big way, big factory, big offices.
This kind of entrepreneurship requires a huge amount of money to start up, this is probably not where you want to start as an entrepreneur unless Atedelo is your daddy😊.
Example, Dangote building refinery in Lekki with an estimated cost of about $12 billion. Banks also fall into this kind of entrepreneurship.
As an entrepreneur, you can start with scalable business entrepreneurship and grow to large scale entrepreneurship just as in the case of Facebook and Amazon we mentioned above.
4. Social entrepreneurship
Social entrepreneurship includes individuals finding solutions to social problems.
Such problems can be environmental problems, cultural problems, or any kind of problems the society is suffering from.
When you look at the different scale of entrepreneurship it’s obvious that there are scales of entrepreneurship for everyone at any level.
If you have ever wished to become an entrepreneur you can always start from the small business entrepreneurship, and the way to start is simple start looking for problems that you can solve in the society.
There has never been anything in history that the world needs people who can come out and solve problems in society
If you are already engaging in entrepreneurial acts, I hope this post helps you to understand that you are already an entrepreneur, that even though you don’t want to flaunt your title, you need to acknowledge what you are, acknowledging yourself as an entrepreneur can inspire you to start thinking like an entrepreneur and act like the entrepreneur you already are.