February 5, 2013 > Entrepreneurship
What is entrepreneurship? In today's world, it can be defined as organizing, managing, and assuming the risks of a business or enterprise. It can be as simple as kids starting a lemonade stand, or as complex as starting the company Microsoft. Both, however, require the skill to be able to plan and develop a business that can benefit the community.
But why is entrepreneurship important? According to the World Economic Forum's Global Education Initiative, "Entrepreneurship education is key to develop the skills, attitudes and behaviors necessary to create jobs, generate economic growth, advance human welfare and stimulate innovation to address global challenges." Entrepreneurship builds the key skills required in starting and running a successful business. It drives innovation and allows us to be more creative and expand our thoughts in today's economy. The Industry Canada states, "Entrepreneurship is a powerful force for driving innovation, productivity, job creation and economic growth." In today's world, entrepreneurship is essential for our economy's success. We need creative people with new ideas to build businesses to provide jobs for others and inspire the future.
However, creativity isn't everything in a business, right? Starting a new company is a planning, managing, and strategic game. People who set out to be entrepreneurs are really dedicated to what they want to do. They have a passion for what they're going after, and won't give up easily. Successful entrepreneurs take small steps towards their goals. Although they want their business to be a success, they have to keep in mind that starting something new is always going to be risky.
Take Michael Dell, for example. He began his company (Dell Computers) by just assembling IBM personal computer knockoffs. He continually took small steps and paused and evaluated the performance of each step. Eventually, he turned his passion into a business. That's how all the companies we know were built. They took step after step and made sure each one was well thought out. As Forbes puts it, "The best entrepreneurs don't wait until their product or service is perfect. They get it 'close enough' and launch. They change whatever it is they have to change as they go."
When we choose to be entrepreneurs, we choose to be responsible for nurturing and providing the structure and skeleton for our business. We allow ourselves to be fully immersed in thought and strategy, every single minute, for improving the welfare of the business. No one should be afraid to take a risk and become an entrepreneur. After all, according to 2011 Small Businesses, Big Impact, "Economic success is, and will continue to be, built on the dreams, risk taking, dedication and resiliency of small businesses and entrepreneurs." So, take a chance, dare to dream big, and create your own business. You never know where your creativity will lead you.
Alice Cheng and Anaha Raghunathan are freshmen at Mission San Jose High School in Fremont. Raghunathan explains that DECA (Distributive Education Clubs of America) is a business organization that teaches high school and college students about all aspects of business and the importance of entrepreneurship.