Creating And Retaining The Spirit Of Entrepreneurship

 

There has been an age long argument as to whether entrepreneurs are created or born. But we’ve heard it from time to time the stories of famous and successful entrepreneurs who have always been business oriented – entrepreneurs like Jack Ma, Jeff Bezos, Bill Gates, Warren Buffet, Larry page, Andrew Carnegie, Steve Jobs, Henry Ford, and Mark zuckerberg. If you observe the lives of these entrepreneurs and how they started, you’d realize that they’ve all had an entrepreneur’s spirit from the onset. 

Henry Ford started his own journey to success in Thomas Edison’s warehouse where he manufactured two automobiles after he explained his idea to Edison.  He experienced several hurdles along the line but he wasn’t deterred. He kept on pushing.  Mark Zuckerberg, the CEO of Facebook, Inc. started his own entrepreneurial journey from the confines of his dormitory room and launched Facebook from the same dormitory. This company also had its own hurdle due to competition of other sites like MySpace and today, we all know Facebook because he didn’t give up.

These people started with an idea in mind and ran with it. And from these annotations, it is quite easy to come to the conclusion that entrepreneurs are born. But it’s not so. These people had the idea and took action regardless of the setbacks they experienced.  

“Action is the key to all success” – Pablo Picasso, but determination and persistence is what makes you move ahead.  

Therefore, anyone can be an entrepreneur if they create, imbibe and retain the spirit of entrepreneurship. It all starts with an idea and the positive impacts of that idea on the world. In school, we weren’t taught about business or how to build a successful business. Although, I was taught entrepreneur as a subject in senior school, I wasn’t taught how to transform those skills I learnt into a successful business or something of its effect. I was only taught the skills and left to figure out the rest by myself. 

In the long run, I watched many of my classmate turn these skills into money making machine that never lasted long. Why? The skill or business idea alone is not enough. You need to create the spirit of entrepreneurship to survive the hurdles and pitfalls that surrounds the business you want to venture into. 

The spirit of entrepreneurship includes the following:

• Leadership

• Financial intelligence 

• Passion 

• Motivation & Inspiration

• Confidence 

• Flexibility 

• Hardworking & Smart

• Inquisitiveness

• Persistence and Consistency 

• Optimism etc. 

These spirit needs to be developed if you want to grow as successful as the entrepreneurs you aspire to be like. 

Entrepreneurship isn’t just a venture, it is a mindset. Like Michael Keer said “It’s about seeing the big picture and thinking like an owner”.  It’s also about taking action when you don’t feel like it. It is about marching forward despite the struggles. It is about not giving up at the slightest challenge or setback. 

Every wealthy and successful entrepreneur today experienced several challenges, setbacks and unfortunate situations. So, when you experience these events on the course of your entrepreneurial journey, ensure that you don’t give up. 

How to Retain the Spirit of Entrepreneurship

In recent years, we’ve experienced a surprising increase in entrepreneurs from every business niche and even new areas that were carved out of existing niches. Many started but very few survived. Why did these few survive? Why didn’t every business pass the 5 year survival mark?

It’s very simple. It’s very easy to decide to be an entrepreneur or start a business; it’s the long run and the strength of your determination that keeps the fire burning. 

The ways to retain the entrepreneurial spirit include the following:

1. Understand your goal and reason for creating the business 

2. Establish business structures and specific plans to ensure the smooth running of the business

3. Build a team or partners of like minds

4. Strengthen your determination and intention

5. Be focused

6. Be innovative 

7. Ensure that you keep learning about your niche and its recent developments 

8. Be at alert to business opportunities 

9. Practice consistency, optimism, and tenacity. 

10. Have the long-run mentality. 

Conclusion 

It can’t be overemphasized that it is imperative to create and retain the spirit of entrepreneurship for your business to scale through and hit its goal and targets. 

However, as KIND’S de Grandpre said “It’s all about building a team who isn’t afraid to be in the driver’s seat and is equally happy to ride in the passenger’s seat when others take the lead. It’s truly built around collaboration; the concept that no idea is a bad idea. Why e afraid to foster that culture within any company, big or small.”

  

Name: Adesanya Gloria

State Code: OS/20B/0299

Course of study: Chemistry

 _Copywriter and creative writer._