Entrepreneurship and development go together. Learning to think like an entrepreneur, whether you run your own business or work for an organization, is a critical skill to be successful in business.
Entrepreneurs need to have a mix of skills at hand: knowledge of marketing, leadership, basic finance, operations, talent management, business management, technology and other skills. They need to have these skills since initially their companies usually consist of 1 or 2 employees and they do not have the luxury of having specialists.
Learning enough of these skills will give you an advantage. You do not need to be an expert in all of these areas. You just need to have a basic knowledge and be able to see an opportunity from all angles so you can have an overall picture. An entrepreneur’s mindset is a great advantage in business. Thinking like an entrepreneur forces you to look for opportunities which otherwise can be overlooked.
If you surveyed employers today, the vast majority would say they wish their employees were more entrepreneurial. This has been something employers have sought for the last 20 years and it will continue to be highly sought after.
There is another more compelling reason to think like an entrepreneur. No matter how happy you may be in your career today, there will likely come a time when you will want to make a change. This could be due to having a terrible manager, poor working conditions, a faltering company or you may just have outgrown your job. Either way, you need to have options. Thinking like an entrepreneur and having the skills of one, allows you to see opportunities and to exploit them.
Reasons to act like an entrepreneur
1 – One of the reasons is because you need to keep your options open to someday run your own business.
On average, you will never be as wealthy as you could be by working for someone else.
Moreover, you never will be “FREE” and, at some point in your career, being “FREE” may become a requirement for you rather than a preference. This happens very often with successful employees of corporations of all sizes and types. Consequently, many of them leave to start their own businesses to satisfy their need for freedom, personal satisfaction, the feeling of building something of their own and the opportunity to spend more time with family, amongst others.
2 – You need to learn to think like an owner and entrepreneur. If you adapt your attitude and acquire a feeling of accountability that comes with being an owner – you will stand out amongst peers and have a greater chance for accelerated career development.
3 – Learning to think like an entrepreneur helps you to see the big picture and this is crucial for your career development. The higher you move up along your business career ladder, the more conceptual skills you will need and the less technical skills you will need. Conceptual skills refer to the ability to think strategically and see the big picture.
Entrepreneurship, DEVELOPMENT and Innovation
It can also be argued that entrepreneurship and development of the economy as a whole go together. The distinguished Harvard economist Joseph Schumpeter argued that capitalism exists in the state of “creative destruction”, where innovation leads to new companies replacing old ones. Entrepreneurship leads to development. He viewed entrepreneurship as a catalyst for growth of the economy. He argued that it is entrepreneurs who are the driver for the sustainable long-term growth of the economy. Therefore, he argued that entrepreneurship and development of the economy are inseparable.
Most employees know their job well, but they are weak at understanding the overall business. Acquiring the mindset of an entrepreneur will allow you to see the big picture. You can set yourself apart.