Posted: February 15th, 2022

Significance of Entrepreneurship

Entrepreneurship

Student’s Name

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Professor Name of course 

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Entrepreneurship

Entrepreneurship has often been revered for its pivot role and ability to transform standards of living in a society. Through Innovation, entrepreneurship has on many occasions led to changes and approaches to issues affecting the community at differentiated levels of the economy, leading to tremendous changes out of some character traits associated with entrepreneurs in the society that exhibit problem-solving skills, which is showcased as the central theme in the book,” What I wish I knew when I was 20’s” through its different chapters. Dr. Tina Seelig, in her, critically and wittily designed themes in the book “What I wish I knew in my 20’s “through different chapters reflected in her text opines that entrepreneurship needs a unique approach that requires one to be operating in a direction not embraced by many (Tina,2009). In the first encounter, the seemingly apt author gives an example of a creative approach to a challenging situation by assigning students five dollars to provide profits in two hours. Through innovative thinking and entrepreneurship skills, the students utilized their entrepreneurship skills to observe various niches they exported in their environment. Different ideas came up through the multiple teams leading to the generation of unexpected revenue as per the allocated time frame and seed capital offered. From the text, one of the teams ended up with no expenditure but generated more revenue from their idea. Unlike other people or students, the five dollars would have been spent on other things that would not make any economic and social sense. However, the students came up with more creative approaches in the spirit of entrepreneurship. They identified various societal problems, which paid them more cash on zero investment capital. From the case, the best team never spent any of the assigned seed capital but came up with the best approach to a problem they observed. 

Teamwork as one of the significant themes showcased in Dr.Tina’s text, talents, and good creativity, which are essential pillars in entrepreneurship, members of the first team identified problems around their environment came up with solutions which fetched the team a total of $ 600.The second team equally observed that people usually get frustrated by long queues within the college at restaurants at night during Saturdays and came up with a way to solve the issue at a cost. They had to pay for reservations and later sell them to students who did not want to wait in the queue, which later fetched much revenue. At the same time, the last team took space in front of their union office where they measured tire pressure for their friends at an accessible cost while charging additional stress when the pressure was low, which ended up fetching them more cash above the seed capital. This demonstrated creativity and entrepreneurship spirit of creativity, teamwork, and being solution-oriented.

The second chapter themes entrepreneurship as a way of spotting opportunities in every problem one comes across. It stressed the need to embrace creativity for immediate solutions to society’s problems (Tina,2009). Additionally, it is reported that attitude makes the highest percentage of what makes innovations work in the entrepreneurship world is attitude. This is evident by the belief of Jeff, who developed small computers and with a positive attitude despite being discouraged by his close allies, he believed they would transform the society in one way or the other. Jeff later managed to approach the technological challenge and found solutions to what ailed the community. In another case scenario influenced by a positive attitude, there is an instance where participants were asked to come up with a valuable item that equaled a rubber band. In the end, the team came up with Do bands, which came in the form of a bracelet that attracted people more than rubber bands are worn to show solidarity in different ways to organizations. This was a creative way of changing society and their general perception.

Further, Dr.Tina brings about creativity as a theme that helps encourage entrepreneurship, as evident when the lecturer assigned students problems and randomly picked on objects they would use to solve the issues. In their demonstration of creativity, one of the students was moving from an apartment to the next but had difficulty transporting her large furniture. In a creative approach to the problem, the lady an online community bulletin developed a bay bridge using wine which gave the lady a high motivation and ability to move. A case is also presented in the book about Cirque du Solei, which offered a chance to students to showcase their skills prowess and during adversarial periods when it had low moments in business operations characterized by poor performance diminishing customer flow other problems. In return, Guy started the initiative and changed the challenge amidst all challenges. The company was an opportunity out of creativity. This led to the development of a new circus which was embraced for a long. 

A significant theme featured in chapter three is dreaming big and going against all odds. From the text, we see substantial steps made against doubt but later yielding least expected significant results like in the case of Linda, after her graduation, decided to major into developing an entrepreneurial culture among developing countries in a model that would have young entrepreneurs go through a competitive process that would see them get paired with role models from their locality to guide them to their success (Tina, 2009). This was informed by Linda’s belief that no problem was too big to miss a solution. Succinctly, the article encourages the view of obstacles as opportunities for growth. It also encourages a collective approach to problems facing the society, as witnessed in the case where all members were to suggest the best approval of the problems they were facing and the worst approaches they were facing. In the long run, they were to identify the best that resonates with everyone and would lead to an effective running of an organization. From the chapter, it is evident that entrepreneurship culture encourages one to be unique and be willing to travel paths least traveled by many, like in the case of John, who decided to go to a business school, the slightest expected move my most of his friends.

Additionally, the chapter emphasizes going against all odds, as witnessed in the case of Cooliris Company that develops a three-dimensional wall that fastens browsing from essentially a flat-based browse. Onto being aggressive as one of the major spirits of business in her quest to get a solution to problems facing the society, Tina decided to open a company to help market books to authors after her publisher failed to promote her work to her expectations, she became creative and developed a platform called book browser which later blossomed which allowed uses to use various links. In the long run, despite all the discouragements from her friends, she ambitiously achieved and learnt that it is possible to achieve things without people’s permission or devoid of other people’s thoughts.

The secret source of Silicon Valley talks about accepting failure as part of how one can rise to the occasion and change things and learn more. Tina highlights her failures in this chapter and says that she never paid attention to how an organization works by making wrong corporate decision cultures and losing hope so fast. She says that she never did her best and managed relationships in her academic failures. In her advice on how people should be ready to handle failure and take more risks, she urges people to pay attention to cultural differences as they affect entrepreneurial ventures, as witnessed in the case of Sweden, where a business failure goes a long way to hold on debts which affect families. Silicon Valley embraces failure as part of a chance to experience an innovative moment. Randy has also been reiterated as a possible hallmark of an entrepreneurial venture. Essentially, Tina also insists that failure takes people through powerful lessons that give people a chance to experiment with things, resulting in innovations. 

Tine further insists in her book that passion is essential in pursuing a personal interest, but it has to be complemented by other factors such as appropriate talent and skills. It emphasizes that one must be passionate enough to deliver success for themselves and be productive enough to encourage one to be good at their job. Additionally, this chapter stresses that despite passion and talent, one must be ready to show commitment to hard work to have resulted in the long run. This means that spirit of entrepreneurship is built on the need to deliver the best at all times out of consistency. From the next, there is a theme of constant hard work showcased in chapter 7 of the book, which requires that one must be ready to train in preparation for more tremendous success while insisting that there is no lunch in seeking success. Success in entrepreneurship requires consistently showing determination to achieve even the slightest things people expect to see happening (Tina, 2009). This is evident in the case of Josh in the efforts he is making in achieving the best through hard work and intensive commitment. He read a lot about sports, woke up early towards achieving the best in sports, and ended up achieving excellence in the wrong run. This is the same spirit encouraged in the entrepreneurship sector as it contributes to more results that transform society in various ways.

In enhancing relations with people, chapter eight talks about having good partnerships with people who help propel one to achieve the best. Therefore, it is essential to appreciate people’s efforts and the times they create to assist us during our times of need (Tina, 2009). It also encourages the need to treat people around us with dignity as anything can happen in life. Additionally, the chapter encourages people not to burn bridges in growing their brands and entrepreneurial ventures as needed. It stresses the need to understand that not everyone might like whatever we do to get ourselves right. The book showcases how entrepreneurship works in environments and other aspects, as indicated in the text. We are first encountered with a creative approach to a challenging situation by students assigned by their lectures five dollars to give profits in two hours. The above features matter in the event where one has to achieve maximum results in entrepreneurship and have the best out of business; there has to be a positive attitude, proper relations, good hard work as well an excellent attitude to make things happen.

References

Dr. Tina Seelig (2009), what I wish I knew in my 20’s

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