Posted on November 10, 2011
Part of the romanticism of entrepreneurship is the thought that entrepreneurs are creative, innovative, go-getters, risk takers, driven. All of that implies a high self-esteem and determination. In reality, having a clear understanding of creativity, innovation and entrepreneurship allows managers of institutions and corporations, as well as individual, manage each area differently to get the best results.
People like creativity simply because it is fun. We reconnect with the pure pleasure of getting something that did not exist before. When we create we forget our problems, we are just being, the child comes out, we connect with ourselves and it simply feels good. Our energy pours from the inside to the outside and leaves our imprint, the object of our creation becomes an extended part of ourselves. Creativity also lives in a time and purpose vacuum. The worst enemy of creativity is a good idea.
People like innovation because it implies progress. When we innovate, we have a structure. Innovation becomes change. To change we need the reference, the constraints, the structure, the present, what is there. When we do things differently, we are also creating, but we create with a purpose, fun stops until we reach our goal. Thus, innovation has less power as a self-expression than creativity.
Then we come to the field of entrepreneurship, one of my favorite topics. Entrepreneurship is more about creating wealth than it is about creating a company. It is closely linked to creativity, entrepreneurs MUST have something NEW to offer. It is related to innovation, entrepreneurs MUST find new ways of getting in the market, making something new, doing things differently.
When we check most new businesses, they are me-too's, and most so-called entrepreneurs are people who have bought themselves a job. They don't create, innovate or add wealth. They shift what exists to a different person. Read more...
Posted on November 8, 2011
Essentially, social entrepreneurs identify public problems and apply business acumen to resolve them. Instead of using a venture solely to make a profit, they aim at simultaneously impacting a society and regulating positive change. The success of such an endeavour is, therefore, measured not just on the basis of balance sheets, but on the effect it has had on a community.
Social entrepreneurship demands the same confidence, motivation and innovation as any other business, but in a manner that prioritises social development and the simultaneous creation of social and economic values. Hence, more than making a profit, it amounts to executing social change by means of unique solutions that help a community overcome established obstacles.
By definition, most social entrepreneurs take on problems that are ideally in the domain of government concern. Instead of waiting around for problems to be solved or brushing them under the carpet as many governments and societies are wont to do, they see them as opportunities to effect positive change. Social entrepreneurship is therefore all about combining a vision for a brighter future with the realization that, in order to achieve long-term goals, drastic effort and creative solutions are called for.
Like any other business venture, social entrepreneurship programmes cannot be isolated exercises. Most entrepreneurs, for instance, promote a non-profit organisation in the hope that other individuals and agencies will move in to support the cause and help multiply its benefits across larger sections of society. The extent of success of such endeavours is often based on the amount of collaboration and grassroots involvement they are able to generate.
Furthermore, and just like business ventures, social entrepreneurship projects depend on some degree of risk-taking. Only, in this case, the risk is not limited to financial security but involves social activism and passion. In this context, social entrepreneurship activities may appear to be incredibly perilous, but the risks pay off many times more in terms of their benefits to society. Read more...
Posted on January 8, 2011
Apparently the good old lemonade stand has been made illegal! In fact worse than just getting shut down kids and their families are actually receiving fines if they are caught. Just when you thought there couldn't possibly be any more silly regulations to be enforced right? So how do you teach your kids about entrepreneurship if they can't put up a lemonade stand?
It is clear that with the way the economy is going and the changes we are seeing in the business world that the only way for you to truly equip your children to provide for themselves in the future and have the chance to live a really full life is to teach them entrepreneurship.
School obviously ill equips students to leave and open their own businesses, let alone even manage their own money. Unfortunately as we can see their isn't going to be much of a future, at least not a reliable one for those who simply graduate and plan on working for someone else until retirement. So a good start is to begin by teaching them about how to manage their money, how to save and how different types of investments work. You can start out simply by playing games like Monopoly and move up to using stock picking tools and simulators online. Give them a virtual account or an allowance and guide them on how to get the most out of it. Read more...