What Is Entrepreneurship?

These days, everyone seems to be talking about entrepreneurship. But what is entrepreneurship? Let’s start with the basic facts. In many online articles you would find the entrepreneurship definition described as the activity of making money by starting or running businesses.

So, if you have a brother who keeps bringing up his idea for coffee-flavoured toothpaste, he might make the list too! Start asking how you can help his idea see the light of the day, because entrepreneurship is the pursuit of opportunity. Entrepreneurship is a leap, a risk – but it is what generates innovation, builds better organisation, feeds the economy, and fuels creativity. Yes, you can characterise entrepreneurship as starting a business, but it does not have to be big – so even a small, home start-up is an entrepreneurship. At the end of the day, entrepreneurship should bring value – either to you or to the community around you.

There are many kinds of entrepreneurs and they can have widely different backgrounds, from being born into a family that already has a business to someone who started out with something new despite having a different educational background. Some build personal brands, while others work tirelessly on a physical product that they believe in. But the world has evolved so much that today anyone can be an entrepreneur, if you decide to act on your dreams and ideas.

These days, there are many of us who want to become entrepreneurs. But how do you get to be an entrepreneur? Most of the advice focuses on the practicalities like writing a business plan, raising money, finding staff, marketing, and managing public relations. In this article however, we’ll go down a different route. In our eyes, at the heart of every successful entrepreneurship lies something more abstract, an accurate insight into the causes of human unhappiness.

What makes entrepreneurs entrepreneurial? In the simplest terms – they can imagine and implement dream and ideas, via bootstrapping or on shoestrings . Of course, ideas aren’t enough on their own, you need to have entrepreneurial values, a mantra, or a code by which you conduct business.

Professional demeanour is extremely important no matter how big or small your business. Integrity and respect will take you far and recruit long-term fans of your products and services faster. Trust is a key element in any business, whether it is in your partnerships or your delivery – because once broken it becomes invalid. Passion and innovation kicks-off your business, but trust builds relationships. Last but never the least, prioritise quality in your work and end product, because the conditions of your output provides you with a clear distinction in a crowded marketplace.

In Taiwan, celebrities and business tycoons like Jay Chou, and Terry Gou are known as entrepreneurs– why- because they run a production of hiring labour, acquiring resources and financing, providing leadership and management for their business. The bigger their show – or business – the more successful their entrepreneurship.

To know more and to seek motivation, you can read all the different entrepreneur stories online, some rags-to-riches tales, some motivating what-to-dos, some advices on how-to-dos and some on values you need to adapt. SalesWorks also has scoured the world wide web and put together a few stories that may be the motivation you are looking for. Read 8 stories of successful Taiwanese entrepreneurs who have found their fortune, on our blog page today.

Whatever success is, it is entirely up to you. Of course, no one wants to fail. But over time, entrepreneurs can learn how to redefine failure and pick up the pieces if it is truly unavoidable. So, the bottom line is, ANYONE can be an entrepreneur with a little grit, determination, and luck!

What does entrepreneurship means to you? Are you an entrepreneur looking for ways to know what entrepreneurship is all about? Write to us and share with us your thoughts at [email protected].