Entrepreneurship is a term that everyone seems to want a piece of these days.
Cities, regions, states, universities, and even nations have launched initiatives and invested millions of dollars to promote entrepreneurial culture and attract recognized entrepreneurs to their regions in hopes that wealth and economic prosperity will follow.
Just what is this elusive thing called entrepreneurship that is so attractive to leaders all over America? How does it start and why does it flourish in some places, yet lie dormant in others? In a 2007 report titled, "On the Road to an Entrepreneurial Economy", the Kauffman Foundation defined it this way.
"At it's most fundamental level, entrepreneurship is about the successful development and commercialization of novel ideas.
" The report went on to say that: "This process is impossible without highly creative people...
who aspire to become high impact entrepreneurs.
" The origins of entrepreneurship are the ideas and perspectives that people have and then act upon to create changes that often have profoundly positive economic outcomes.
These outcomes are in the form of a robust and expanding economy in the immediate proximity to where the entrepreneurial activities are undertaken.
Ideas and perspectives germinate in the minds of acutely aware individuals during the day to day activity of living.
By the powers of observation and through a healthy feeling of discontentment with the status quo, curious visionaries identify potential solutions to society's problems.
When these visionaries have ambition, drive, and access to capital, sometimes they become entrepreneurs.
When their ideas become successful products and services, the entrepreneurs and their communities can accumulate wealth and enhance quality of life.
Awareness starts the process.
Curiosity and cognitive thought define the opportunities.
Ambition, focus and a willingness to assume risk are the final steps that culminate in the commercialization of novel ideas.
Real change is measured by the amount of risk that one is willing to take and knowledge is the key ingredient to gaining comfort with risk.
Living a day to day lifestyle that is characterized by awareness is vital to individuals and regions that aspire to entrepreneurial success.
To solve problems and present solutions, one must be aware of the sources of discomfort and have the initiative to ponder how to improve life for all.
The status quo is the target.
Ideas, thoughts, and awareness are the arrows in the quivers of aspiring high impact people.
"You must constantly challenge the status quo" Dr.
Martin Luther King Jr.
Higher consciousness is just as necessary for invention and technical innovation as it is for the initiation of sweeping social change.
It all really starts with the acute awareness that leads to the recognition of a need for change.
Where are today's opportunities for innovation and entrepreneurship? We can all benefit from innovation in the areas of food, energy, education, health care, government, travel, workforce development, and a multitude of yet to be defined areas.
The same was true 10 years ago, 50 years ago, and 100 years ago.
A better question would be, "Where are we not in need of positive disruptive change".
If one can not see it, then one can not dream it.
If one can not dream it, one will never do it.
This is as true for cities, regions, states, and countries that are in pursuit of entrepreneurial initiatives as it is for aspiring entrepreneurs.
Ideas are the seeds from which clusters of global economic relevance are grown.
It is vital that we all "know our place".
It is even more vital to realize that we have the power to positively change "our place".
Awareness, cognitive thought, and decisive action are the keys to continual improvement and to sustainable prosperity.
Joe J.
Wallace, Managing Director Hadannah Business Solutions