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Why is Entrepreneurship Important?

How one individual can make a ripple felt by millions.

A woman sitting on a sofa working on her laptop..

I once had a mentor who told me, "If you don't chase your own dreams, someone else will pay you to build theirs". That statement has always stuck with me. Though many tout entrepreneurs to be lofty, ambitious people, the world we live in turns because of entrepreneurs. So why are entrepreneurs so important? Because they are the lucky few who take that terrifying first step into the unknown in pursuit of an altogether spectacular life.

Entrepreneurs are all around us, even if we do not always notice them. Often touted as chameleons, successful entrepreneurs can find themselves in any number of capacities from project management to marketing, and so much in between! The entrepreneur is a 'jack of all trades, but master of none'. They identify old problems and create new solutions.

Don't be fooled, entrepreneurship is a very long and often lonely road. Have you ever asked yourself how to become a business owner? It does not start with just an idea but requires a business strategy, startup capital, marketing, research, and perseverance. Becoming a business owner requires you to step outside of the 9 to 5 mentality and realize that if you want to create your own life, you must go all in. Now, let's take a look at why these people are so important in today's society.

What must an entrepreneur assume when starting a business?

If you want to understand why entrepreneurs are so important, you must first understand what it is an entrepreneur must assume when starting a business. Contrary to popular belief, most entrepreneurs do not create new ideas simply for the sake of creation. A successful entrepreneur often identifies a problem or pain that is felt among a population of people. When starting a business, an entrepreneur must assume that the problem they have identified has not been met with a solution yet.

A window with the phrase 'your ideas matter write them down' written on it.

What does this mean for us? Well, washing clothes by hand isn't very fun, so we can be grateful that some entrepreneur somewhere decided to solve that problem. Entrepreneurs are pioneers who push beyond the limits society has in place. They are the people who raise an eyebrow and question why we do things the way we do, and if those things can be done better!

Another assumption that must be made is that the pain or problem the entrepreneur has identified is shared by a group of people. A common mistake among early ideas is that the identified problem may pertain to a very precise scenario in your own life. That doesn't mean your problem is experienced by others. Entrepreneurs must test this, and learn to talk to people to find out what they need.

Rejecting the 9 to 5 Lifestyle

Ok, entrepreneurs solve problems and invent new things, big deal. Why are they still important? Just like they push the limits of how we perform tasks, entrepreneurs can introduce us to new ways of living. For too many, we are taught to go to school, then college, graduate, and find a nice job working at a big company. Recent research shows that 70% of Americans are employed by someone else, with the vast majority working a 40-hour 9 to 5 workweek or more.

An office space filled with people working on computers.

Entrepreneurs often work long hours. Starting a business is not for the faint of heart. But the reward is you work on your own time and answer to nobody. Wise business owners learn to automate their businesses to work even while they are not. Entrepreneurs learn how to go from working for money to money working for you. Issues such as remote work, office drama, or limited vacation days take on an entirely new meaning as you set the policy.

Again, it isn't all sunshine and rainbows, entrepreneurs often work themselves to the bone. But the work is rewarding and fulfilling. Better yet, the work allows entrepreneurs opportunities many people could never dream of.

Refreshing Perspectives

I always love to listen to entrepreneurs telling their stories. So many come from rags to riches. Here at Focus Forge, I talk a lot about authenticity and creating an environment around you that is genuine and productive. While the economy runs in large part thanks to massive corporations that employ thousands of people, those business giants often lose sight of the consumer.

Entrepreneurs always start their journeys by listening to people like you and me and discovering what they truly need. They go beyond graphs and look at the story each person has to tell. While their businesses may not make the biggest ripples in the world, their impact on individual lives is astounding.

A woman working on her computer looks at her phone.

Why are entrepreneurs so important? Because they listen, and they care. They are passionate about what they do. When you purchase something from an entrepreneur, you can do so knowing that your money is funding many sleepless nights filled with blood sweat, and tears. Entrepreneurs inspire rising generations to truly follow their dreams and to open their minds to the idea that life doesn't have to follow a cookie-cutter template.

So next time you go online to purchase some niche gift for a loved one, take a look at who's selling it. If it's someone small, leave them a review, and thank them for what they do. You will never know the power your endorsement has in their eyes. Be kind and patient with them as they learn. Give constructive feedback and follow them on their journey.

As you do, be prepared to watch the world around you change for the better!


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