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Entrepreneurship

Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure.

​An entrepreneur is a person who starts a new business and usually risks their own money to start the venture. 

Entrepreneurial spirit is a mindset. It’s an attitude and approach to thinking that actively seeks out change, rather than waiting to adapt to change. It’s a mindset that embraces critical questioning, innovation, service and continuous improvement.

Key Facts on Entrepreneurship

When you hear about a business owner pitching products on street corners or forging national brand partnerships, you probably don’t imagine a six-year-old behind it all. But that’s exactly the kind of early start Cory Nieves had—well before most kids can even spell “entrepreneur.” Known today for Mr. Cory’s Cookies, he began by selling hot cocoa with the simple goal of raising money for a family car. Little did he know that this modest start would pave the way for a booming cookie business with nationwide recognition. Cory’s tale is a shining example of what happens when someone decides to chase their dreams early, leveraging synergy and compounding opportunities to grow a passion into a thriving enterprise.  Cory Nieves’s journey reminds us that sometimes the grandest ventures start with the simplest ideas—like selling hot cocoa to buy a car. When you combine passion, creativity, and the willingness to learn, even small steps can lead to monumental achievements. Cory didn’t just dream about running a cookie empire; he took tangible actions every day to move closer to his goal, leveraging each success to fuel the next stage of growth.
His story also highlights the importance of a supportive network. By partnering with his mother and connecting with mentors, he was able to navigate challenges typically reserved for seasoned adults. These relationships allowed him to focus on what he did best: making delicious cookies and spreading joy one bite at a time.

Curious if Entrepreneurship is for You; utilize the A.S.K. Worksheet to help you gather a greater understanding of your passion and also take the Entrepreneurial Potential Assessment

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What is Entrepreneurship or being an Entrepreneur?

Entrepreneurship - The Driving Force Behind All Economies

By Matt Ehrlichman Founder and CEO, Porch

Five indicators that demonstrate that the entrepreneurial spirit is alive and thriving in someone.

1) They are in-tune with their passion.
Think of the last conversation you had with someone about something they were deeply passionate about. It doesn't matter if the subject is completely uninteresting to you, the conviction in their voice and the authentic enthusiasm they have for it is captivating. Passionate people know what it's like to dive deep into a subject and completely understand it. This is something we look for when hiring at my startup Porch.com. When people are genuinely passionate about the problems that your company is trying to solve, they will be energized by any challenge that stands in their way.

2) They are always questioning how it can be done better.
Mark Twain once said, "Whenever you find yourself on the side of the majority, it is time to pause and reflect." The average person rarely considers how ordinary things can be made better or improved--those with the entrepreneurial spirit can't help themselves. They are continually questioning why things are done the way they are and aren't afraid to go against the majority to make changes. It's impressive in an interview when a candidate has real questions for the business and suggestions and ideas on how existing product could be improved.

3) Optimistic about all possibilities
To be entrepreneurial by nature is to be optimistic. People with the entrepreneurial spirit don't spend time thinking about what they can't do, but instead ask themselves, "Why can't I?" When starting up, the odds of success are strongly against you, so you really need people are optimistic more than ever. Look for candidates that get excited by the idea of aggressive challenges and big goals. They are the ones will push the boundaries of what was once thought impossible.

4) They take calculated risks
In addition to optimism, entrepreneurs are predisposed to a high tolerance for risk. But it doesn't mean they jump blindly into action, it's instead the opposite. Those with the entrepreneurial spirit make calculated moves while understanding that there are never any guarantees of success. It's also the ability to work autonomously and be decisive. The playbook isn't always clear, so it's ideal to be able to say agile and adapt in a high degree of ambiguity.

5) Above all, they execute
I can't count how many times I've had aspiring entrepreneurs come up to me for advice on their untested ideas. My response is always to go out and act on your ideas first to get real feedback. That's because ideas are meaningless until they are acted on. Those with the entrepreneurial sprit realize that execution is everything when it comes down to success or failure. Find hire the people that have the drive to execute at all times, no matter what the circumstances.

These 20th-century entrepreneurs changed the world - Article by The Love Money Staff.  Press below to see who those entrepreneurs are: 

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Is Entrepreneurship Right For Me?

What is an Idea?

Entrepreneur Spotlight

Did you know these famous people were  entrepreneurs?

Something, such as a thought or conception, that is the product of mental activity or An opinion, conviction, or principle.

The idea is the building block or seed that motivates the entrepreneur to move forward.