The quest for opportunities regardless of resources currently controlled by the individual or group of individuals is what I refer to as startupreneur. It is time for new burst of creativity in business, we need many new tries, many startups if our country seriously want to solve youth unemployment. I prefer to refer to business minded individual who is working towards starting a business or turning a new idea into a company as startupreneur.
There are various concept and definition on entrepreneurship but one that is commonly adopted is that it is ‘the capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward’.
In line with the definition of Schumpeter, an entrepreneur is the innovator who implements change within markets through the carrying out of new combinations. These can take several forms:
• the introduction of a new good or quality thereof,
• the introduction of a new method of production,
• the opening of a new market,
• the conquest of a new source of supply of new materials or parts, and
• the carrying out of the new organization of any industry.
Just as Shane and Venkataraman posited, the field of entrepreneurship involves the study of sources of opportunities; the processes of discovery, evaluation, and exploitation of opportunities; and the set of individuals who discover, evaluate, and exploit them.
Combining the two definitions, you must realize that to become an entrepreneur , one would be expected to have study source of opportunities such need for new good or quality or improved method of production. It could even be informed of opening up a new market that has to follow an organized process of discovery; there will be evaluated and exploited adequately and appropriately. The study of sources of opportunities or business idea shall be dealt with in subsequent publications, which will be followed, by evaluation or business idea refinement.
Some writers try to distinguish between “opportunity entrepreneurship” and “necessity entrepreneurship”. They argued that a person who established his own small or micro business because there is excess supply of labour over the number of available paid jobs which is limiting their chance of other income-earning opportunities. This, simply put, they were unable to secure a gainful employment. They thus, become entrepreneurs not by preference, but by necessity. While the opportunity entrepreneur notice a business opportunity or come across a viable business idea and decide to make use of it. The later, they argued have the potential to grow and hire additional labor, while the former is very unlikely to do so. However, they both need some toolkit and that is what our post is going to offer. Toolkits.
It has being said that there are many models of entrepreneurship, including
• Microentrepreneurship (launching household businesses)
• Small Companies that fill a niche and never grow beyond it
• High-growth entrepreneurship (Start-ups that wind up transforming entire global industry).
An interesting definition that was put forward by Professor Howard Stevenson of the Harvard Business School some 37 years ago is that entrepreneurship is ´The pursuit of opportunity without regard to the resources currently controlled´.
Another classification has being done based on several ways. It could be based on the motivation, timeline, venture types, industry and the perspective of the startupprenuer. Books on entrepreneurship contain several different typologies for defining entrepreneurs. One that I will like to call your attention to later in our post are those tagged the “lifestyle” and “growth” entrepreneurs.
As you watch for our discussion on startups toolkits, lifestyle and growth entrepreneurs remember that it all about making use of opportunities irrespective of the available resources.
