When entrepreneurship evolved as a concept to be the king on the basis of individual talent, a lot of people didn’t believe the significance it had because of the conventional approach. The concept of holding ideas as the main point of a business was newer to them because of the exposure of the ideas that were too traditional and represented nothing but the trivial approach to make money.
Individuality and Entrepreneurship
However, when entrepreneurship stayed in the market for a time longer than expected, the base of the ideas was checked again or grounds that were not superficial anymore but were logically supported with a certain agenda in hand.
This agenda spoke of the individual talents and their role in setting the bar high in the field of entrepreneurship. When ideas started taking the hearts of the customers, the shift from demands to ideas was a quick one.
The entrepreneurs who understood the need of the time stayed true to the spirit and proved that even ideas can lead to greater things than one can ever expect and this was how entrepreneurship started strengthening its root deeper in the grounds of individual knowledge.
By individual knowledge, anything or any skill that is the specialty of an individual comes in the main light. It is because of the individual activities, that the idea of entrepreneurship was fortified enough to stand on its own.
Mega ventures started embracing all the success which they could because of the individuality attached to them and above that was the very essential constituent that formulated the pattern. It was nothing except the basic knowledge an entrepreneur had regarding the entrepreneurial world.
There is no fixed definition of entrepreneurship knowledge. This is because of the extension of the concept into interrelated concepts. However, one unifying definition still rests on the idea that this represents the true spirit of entrepreneurship.
By now we have come across the entrepreneurial spirit time and again. We have not just discussed the spirit but the underlying principles which form the basis of that very spirit. Just to repeat another time, it is none other than the idea of creating more opportunities at the end of the venture for those who are in needs
Kanter’s Idea of Entrepreneurship Knowledge
Kanter, a renowned economist studied the concept deeply and concluded that entrepreneurship knowledge is not just the fixed set of principles that need to be followed in proper arrangement unlike other areas of human knowledge. It is a concept with a deeper sense.
A sense of responsibility, a sense of realization which comes with the principles of entrepreneurship. It is a thought pattern which states that the overall purpose of entrepreneurial knowledge gets fulfilled when the entrepreneur starts focussing on the knowledge that is “unlearned”.
According to Kanter, there is no glory in a concept that is already known to an entrepreneur, and following some specific pattern, he uses a specific opportunity for monetary benefits. This can be done by any individual, even a basic level businessman.
The true sense is “seeking the hidden concepts”, going for the knowledge that is not known and on the basis of whatever is known previously, creating a new set of knowledge for those who can use it in the future for their benefit.
Knowledge for All
This takes us towards the deeper contemplation about a philosophy that has remained in the category of the widest debates for centuries. It stands at the principle of making “knowledge accessible to all” and creating new pieces of information so that from every past set of knowledge, a new page of information could be written.
Entrepreneurship is according to this basic philosophy whereby you learn that the previously learned knowledge is an important source of creating new opportunities that are unique and can accommodate new areas of knowledge.
The Criteria for Entrepreneurship Knowledge
There are no fixed criteria for making entrepreneurship knowledge an easily accessible concept. All it needs is your personal interest to create a piece of innovation out of the ordinary and then to set it forth in front of others so that they can use it for their own inspiration.
This basic principle lies in several innate ideas that are essential to be followed if one wishes to propane the agenda of entrepreneurial knowledge. We have curated a few tenets down below which can tell you about your own capability as an entrepreneur who has knowledge about the field in its pure form.
- Willingness to learn
- Commitment to perform
- Mindset to change
- Idea to share
- Nature to appreciate
Willingness to Learn
Many entrepreneurs are highly mistaken about the entrepreneurial field. For them, it is a playground for creating profits and to win in the end. The competition that is prevalent today indicates this mindset where everything focuses on the end profit and there is no significance of individual talent. This mindset is the root cause of the failure and limited success of today’s entrepreneurial ventures.
Unfortunately, most of the ventures are very constricted in nature. They are the representation of the trends of the town and the approach is only limited to create as much profit as one can in the limited time period. This creates a huge difference between the real and the perceived idea of entrepreneurship.
True entrepreneurship is all about exploring new chances and learning on the basis of personal experiences as much as one can. However, there is no such thing when things get replicated by the sole greed of profit. This needs to be corrected for the sake of the preservation of the entire concept of entrepreneurship for a learned entrepreneur is nothing but an asset to the entire business world.
Commitment to Perform
If you are only working for the growth of your venture then you are no different from the corporate mindset where the sole focus is upon growth. Every action is directed to take the profit out of the branches and seeds of the corporate environment. This is why entrepreneurship came into origin in the first place.
Here, growth is a secondary concept. The far most concern is about the performance at the individual level. The performance is aimed to achieve something higher than the profit.
It is to obtain the experience of the real-world problems so that in the light of them, things could be arranged and rare anger at their respective points to incite innovation to the business world other than the capital.
Mindset to Change
Change can never be a part of the real world until and unless you are not serious about it. Once you aim to bring change in any field, you prove it through your actions afterward. It is only after that a real change waits for you at the endpoint.
This is because actions are a result of the mentality that creates them. If you don’t have the mentality to alter the concepts of entrepreneurship through your actions, you can never expect the much-required alterations because you have no mindset for it.
This type of attitude may benefit you in terms of monetary profit but not in the long run. If you want to stay in the game for a long time, you have to be unique in every possible way you can. This is possible only through the investment of yourself into the venture for a purpose bigger than merely money.
Idea to Share
Look at all the bigger players of the town. They have this vibe that comes naturally from the years of hard work and enormous efforts or one single cause. They have an idea in hand which they tell the world every time they are knocked out of their working reverie.
They know well that it is due to their own efforts that they will finally come across something that is much better than the original idea with which they start.
The real test of your creativity is upon the creation of something new to work on, something which is far more different from the original and in a way much better than the original one.
This is how the tech giants today have grabbed the world in their charisma because they have ideas, a hundred different ideas standing for hundred different opportunities to work on, employing people with varying levels of brilliance and individual talent.
As a fine entrepreneur, the real motive is to enchant the world with a series of ideas that are thought-provoking and leave further space for the newer ideas to enter the race at every single instant so that the overall spirit of entrepreneurship remains intact.
Nature to Appreciate
It is indeed a fact that the business world is more difficult than it seems and you have to work constantly so that the others don’t get ahead of you in any possible way. However, this is also a reality that by no means is parallel to the battleground where the situation is to do or die. At the end of the day, the win of a great idea should be the end goal of every entrepreneur.
This is something that takes you to the second step of our assumption, you don’t need to raise any kind of animosity towards an idea that is in some way better than yours. Rather, learn to appreciate and understand the basis of that very idea so that you can modify your own idea in a better way. This is how the friendly environment of competition is maintained in the business world which is the actual cause of success in the end.
The Ultimate Goal
As a learned entrepreneur, your role doesn’t end at the creation of a specific business venture and making a handsome amount of profit out of it. That is no achievement, anyone can attain that place but understanding the precepts of entrepreneurship knowledge is the real challenge.
The business world won’t remember you if you have spent all your business life working for the sole profit of your business but will remember your efforts if you have correctly comprehended the notion of entrepreneurship that rests at the creation of new opportunities.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.