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The entrepreneurial spirit is often hard to define not to mention examine at length due to its perception like a highly creative and dynamic entity and it is with this caveat this article is written.
As the entrepreneurial spirit does apply to some wide range of disciplines and professionals it is perhaps most closely linked to the world of business and incorrectly used to describe many successful business people, much more fact very few individuals can truly demonstrate an entrepreneurial spirit.
Historical Context from the meaning of entrepreneur
The term is French in origin and when interpreted in the literal context means "between jobs". It is interesting that a word which has arrived at project the pinnacle of success must have such mundane roots as a way of describing being unemployed.
This article examines a number of concepts that appear intrinsic as to the constitutes entrepreneurial spirit
1. Uniqueness
Inside a complex global business community where new ideas and business models are increasingly an issue the significance of uniqueness cannot be under estimated and people exhibiting an entrepreneurial spirit are often associated with concepts that encapsulate originality and ingenuity. Take for example, Steve Jobs bringing the Apple IPOD to the market,
2. Creativity
Creativity is heavily linked to uniqueness however the two aren't identical. People with an entrepreneurial spirit are experienced at harnessing the creative tactic to enable them to produce a unique product /service or advantage. So where as uniqueness describes the finish outcome, creativity describes the entire process of how one achieves it. For this reason those with an entrepreneurial spirit are often creative individuals who are ready, ready to actively adopt new strategies to succeed even at the expense of being ridiculed by others.
3. High risk
Inside a western society that is so often risk averse, individuals with entrepreneurial spirit embrace high risk and it is impossible for this type of concept to not be associated with entrepreneurs and also the often high-risk potential involved in following a new cutting edge approach. It should be observed however that risk is not the just like recklessness and those demonstrating an entrepreneurial spirit are likely to be skilled at assessing the risks involved with any undertaking.
4. Business Savy
As highlighted previously individuals with entrepreneurial spirit should not be regarded as reckless mavericks indeed just the opposite, good entrepreneurs are motivated by profit and therefore are skilled at identifying a lucrative niche in the market that can be exploited for profit. For example take, Jobs at Apple Computers that has successfully navigated a profitable course in the computing and software industry despite the market being covered with Microsoft and IBM for a number of decades. Additionally he was the first to spot the potential of utilising the computing industry to open a new market to the music fraternity , using the introduction from the IPOD, the market leader in the business stream. Such actions requires great skill and confidence and demonstrate a definite entrepreneurial spirit.
5. Developing Potential
Identifying, Purchasing and nurturing potential will also be essential to the ideals attached related to entrepreneurial spirit because of the must find differing solutions to a business problem.
Established businesses often fail to discover breakthroughs because they stay with a rigid investment formula that has worked for them in the past instead of finding new ways of continuing to move forward.
6. Adaptability
The entrepreneurial spirit is definitely adaptable and able to overcome barriers presented by business problems and is usually quicker at resolving those issues than mainstream business thinkers.
7. Ultimately Destructive
Entrepreneurial spirit is ultimately destructive to the own small business within the medium term unless those involved in using the concept recognize when it's time for you to handover to mainstream management focussed those who can maintain and get the organisation. It is because true entrepreneurial spirit is obsessed with constant creativity and alter that is unsettling to employees without good management along with a clear direction. A lot of those demonstrating entrepreneurial spirit rarely stay long-term in any enterprise they undertake, take Richard Branson for example who after launching numerous businesses underneath the "Virgin" brand has subsequently sold on a number of these to third parties in a huge profit to himself.
Summary
To conclude whilst you will find certainly key characteristics which encapsulate the entrepreneurial spirit it might be foolish to pretend that any one individual has those traits and much more foolish to believe that such a concept can be comprehensively defined. It is also short-sighted to think those with entrepreneurial spirit are just evident in the industry community, indeed many different disciplines and vocations have historical and existing individuals contained within them that could be essentially referred to as entrepreneurs.
Well-known individuals exhibiting the entrepreneurial spirit : Richard Branson, Clive Sinclair, Freddy Laker, Steve Jobs, Bill gates and Anita Roddick.
Words often used to describe individuals with entrepreneurial spirit : Mavericks, Tycoons, pathological liars, risk takers, self made business owners, successful, charismatic.
