Young: Embrace spirit of entrepreneurship

Deep down in each of us is an entrepreneurial spirit.

Joel YoungIs the entrepreneurial spirit innate or can you cultivate it?

This question often appears central to economic development since entrepreneurs create most of the new jobs, invest and create in the newest technologies and build successful entrepreneurial ventures supplying new products and services.

It was Schumpeter, a noted economist and theorist of days gone by, and considered a father of the entrepreneurial theory, who coined the German term “Unternehmergeist“ meaning “the entrepreneurial spirit,” and deep down each of us has an entrepreneurial spirit.

The term entrepreneurship doesn’t apply strictly to our careers and the way we go about making money. It applies to every part of our life.

What? you ask. Did someone change the definition of the term entrepreneurship and forget to tell us?  Not really.

Strictly speaking, entrepreneurship still refers to starting and operating one’s own entrepreneurial venture, a professional endeavour that requires independence, creativity, innovation, individuality and risk.

But you can apply the same skills that make you a successful entrepreneur to your personal life.

In the traditional business sense, an entrepreneur is a person who doesn’t wish to be locked into a job. He or she is someone who has many skills. An entrepreneur generally is not a “9-to-5” person who collects a paycheck every week or two.

Entrepreneurs all over the world have a true and innate pioneering spirit. They don’t just have a dream; they follow through to make it happen.

Successful entrepreneurs have their heads in the clouds and their feet on the ground.

For example, being an entrepreneur is similar to sitting in a kayak with the waves breaking over your head.

The force of the water is much greater than the force of you trying to paddle.

But if you make the right moves by focusing your concentration and being diligent and careful, you can get to where you want to go.

As a serial entrepreneur myself, I’ve learned you must paddle as fast as the current itself.

If you don’t, the current will push you sideways and take you off course and you become vulnerable to the waves that will flip you over.

Successful entrepreneurs feel a life without risk is a life without living. Who wants to live a life without risks? You will never achieve any success or happiness in life without taking risks—no matter what the subject of your focus may be.

Another key to the successful entrepreneurial spirit is doing something with your life that you love.

The people who are successful in business and in their personal lives are truly doing something they love to do.

You surely need to be flexible when harnessing your entrepreneurial spirit.

Sometimes you have to follow your heart and know when to change course and investigate something new.

I often subscribe to the credo: “What you may perceive to be an entrepreneurial opportunity, may not be an entrepreneurial opportunity for you, but may, in truth be one for others.“

Changing careers is difficult, you wonder if you’re throwing something away for which you studied long and hard.

It’s not smart to change if you don’t have a good reason. Consider the change only if you can clearly see that it will improve your life, the life of those you love and, importantly, make you happy.

Harnessing the entrepreneurial spirit also means wanting to run your entrepreneurial venture the way you may run your life—and vice versa.

To run a successful venture, you will want to increase the number of clients and, to run a successful life, you will want to increase the number of successful friendships you have.

The parallels are endless between an entrepreneurial venture and one’s personal life.

For every example of the entrepreneurial spirit in life, there is a parallel in business.

Unleashing the power of the entrepreneurial spirit means recognizing you cannot separate the two.

Being an entrepreneur is a way of life. All you need to do is get yourself into the entrepreneurial mind-set and you’ll find the power to make things happen.

Look around you. Would the success of identifiable corporations or social organizations have come to be without the evolution of an  entrepreneurial credo to guide them? I think not.

But, more importantly, would they have ever have come into existence without the spirit of entrepreneurship?

So, go for the gold.  Ignite and preserve the power of the entrepreneurial spirit, bu  try to put in place what your company, your organization and your dream will need to grow.

You can really have your cake and eat it too. But it takes courage and faith.

So, in keeping with the entrepreneurial spirit, let me invite you to explore seven characteristics that will help you foster your entrepreneurial spirit. Before I offer these seven pearls remember, the unusual character traits of an entrepreneur often define success or failure.

One elusive characteristic that distinguishes an entrepreneur from the crowd is their natural willingness to assume risk in order to develop their entrepreneurial dream.

The other sweeping characteristic is an extreme confidence level.

So here are seven distinguishing characteristics that will aid you to be in this exclusive entrepreneurial category:

• Fervent faith that you can change things for the better. An unshakable belief that you can devise better, quicker, cheaper ways of presenting products or services needed in the marketplace

• Always having a solution in sight for any complexities and ability to overcome challenges effortlessly

• Optimistism about the prospects of your venture and each venture you become associated with in your entrepreneurial life

• Independent mindset

• High energy level, unwavering mental stamina and internal motivation

• A willingness to live for, and invest in, the future

• A willingness to experiment and a joyous penchant for innovative and creative thinking

There you have it…your recipe for change in your life—for to-day,

tomorrow and the future.

The road for your entrepreneurial journey is truly just a step away.

Kelowna Capital News

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