Entrepreneurship happens to be a subject I am very passionate about, right from age 15 till date. The challenge of building businesses from scratch, negotiating deals and investing in other people's business thrills me. Since the age of 15, I have been devoted to the lifelong study of entrepreneurship and investing. But even as an experienced entrepreneur, I still look up to my mentors for guidance and inspiration.
Now let's proceed with the business of the day. The word "Entrepreneurship" might sound unimportant or common to your ears, but I will advise you spend a little time on this article and get the tits and bits of what I am about sharing. The word entrepreneurship suggests several meanings and if a poll were to be conducted, I bet we will come up with 101 definitions of the term entrepreneurship.
Now what is entrepreneurship? According to Stevenson, "Entrepreneurship is the process of creating value by pulling together a unique package of resources to exploit an opportunity". It can also be said to be the readiness and skill of either an individual or group of personalities to sniff out investments opportunities, start business ventures and run enterprises successfully. But the definition I find thrilling is still that of Howard Stevenson, a college professor, "entrepreneurship is the pursuit of opportunity without regards to resources currently controlled". I feel this definition is the best so far and I thank my mentor, Robert Kiyosaki, for bringing it to my notice. So if the term entrepreneurship is now clear, then you may ask, "Why stress the need for entrepreneurship development? Well, entrepreneurship development must be massively supported because it has the potential to achieve the following:
1) Create jobs through the formation of new business ventures.
2) Utilize available manpower and resources that might have remain idle and put them into productive use.
3) Entrepreneurship development makes it possible for individuals to create wealth, independence and status for themselves.
4) Stimulates growth in other sectors with increase in demand and supply.
5) Increases productivity by means of innovation.
6) Facilitate and increase the need for technology.
7) Boost the economy and increases the nation's GDP. 8) Entrepreneurship development can reduce dependence on social security and Medicare. With this few points, I hope I have been able to throw more light on the need for individuals to embrace entrepreneurship as a way of life and a means to better the society. Join the entrepreneur's train and I will see you at the top.
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