According to the Harvard Business Review, entrepreneurship “is the pursuit of opportunity beyond resources controlled.” Pursuit implies relentless focus. Opportunity refers to an offering that is novel. Beyond resources controlled implies resource constraints. In other words, entrepreneurship is the process of starting a business from scratch. It’s an exciting, complex time where the truly determined individuals power through. Starting a business requires focus, sacrifice and a relentless passion.
In this week’s Wrap we take a unique approach to looking at why millennials are more entrepreneurial than prior generations, the addictive nature of entrepreneurship and advice for making it on your own.
Let’s dive in.
Business News Daily
Millennials are More Entrepreneurial than Gen Xers, Baby Boomers
According to a study by the Independent Bankers of America, 46 percent of millenials are interested in starting and running a small business. Only 34 percent of Gen Xers and 17 percent of baby boomers said the same. As the most entrepreneurial generation by far, over half of those surveyed said they would prefer to meet the president of a local bank who could help fund their dreams, as opposed to meeting the president of the United States. Explore this interesting read to learn what differentiating perspectives millenials hold in comparison to those from prior generations.
Forbes
Is Entrepreneurship Addictive?
A recent report from Syracuse University professors surveyed that reasonably successful entrepreneurs display habits characteristic to that of addicts. Those involved within the survey examined that the entrepreneurs had obsessive thoughts and experienced moments of extreme euphoria. Surprisingly, when asked why they were so committed to their business endeavors, the entrepreneurs explained that it simply makes them feel better. See why these individuals are addicted to the feelings and experiences that empower them as they work.
Entrepreneur
Entrepreneurs are successful because they work to become the best visions of themselves; they are not focused on becoming anybody else. This article is an important reminder about human nature. If you try to become somebody else, it won’t work, it will come across badly, and you will risk losing whatever it is that makes you special. No matter what stage you are within your entrepreneurial endeavor, remain true to yourself. Explore your entrepreneurial genius and embrace your own magic.
Sometimes an entrepreneurial adventure promotes success but sometimes it ends in failure. At the end of the day, it’s about perseverance. In the 21st century, millenials are committed to the bottom line. While being an entrepreneur appears to have addictive characteristics, it’s important to stay true to yourself. As always, thanks for wrapping up your week with us. What fundamental lessons have entrepreneurs taught you in your own life? Share with us in the comments below!
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Julia Pizzutti is an intern for WordWrite Communications. You can find her on Twitter @julzutti93.
