Entrepreneurism is more of a mindset of solving problems through initiatives rather than purely starting a business and making money. For instance, in your school, what is something you think should change - from a new product, new process, new service, new teacher, and so on. How can you make the case to the relevant stakeholders (students, teachers, admin) to implement this change? What are the resources necessary to implement the change? How will you measure the impact of this change?
Ann Gianoglio Burk, MBA
Entrepreneurship is the act of taking on great risk to start a business in order to enjoy the rewards if the business is a success. To be a great entrepreneur you need to be comfortable with the idea of great failure. Most entrepreneurs fail many times before they finally succeed.
There are many ways to help people while succeeding. The first step is to sell a product or service for the purpose of helping people. For example, Bombas socks is a success online retailer that formed in order to be able to provide socks to homeless shelters. Not only do they make sure their materials are ethically sourced, but they also donate a pair of socks for every pair purchased. Now they could make a larger profit by not donating socks, but they decided to build their values into their business model. Another way to help people is to provide good paying jobs with good benefits. American Appearal, for example offered a substantially higher pay than any other competitor and also provided training and education opportunities for all of their employees. This helped them build a strong brand known for high quality, but they also had lower turn over and provided good pay for people without degrees.
The entrepreneurial spirit is all about going big, taking risks and trying again and again until you succeed. Below are some books and podcasts to learn more. Good luck!
Ann recommends the following next steps:
Anthony Kofi Hene-Amoah
1. Entrepreneurship is simply
"doing/managing one's own business".
2. First, consider the type of business.
3. Consider the goal and objectives.
4. Your general interest and knowledge in the business.
6. Positive Thinking.
7. Honesty, integrity, diligence and
faithfulness at all times.
Great question! There are awesome responses in here, and I couldn't agree more. Joseph is right. Entrepreneurship is a mindset, and not necessarily a career path. The word often describes people who are willing to take risks and pave their own path. If there is any one thing I could add to all of the information above, it would be to chase your passion, not the money. Chase your passion and the money will follow.