What is entrepreneurship, anyway?
Entrepreneur, as defined by Merriam-Webster, is “one who organizes, manages, and assumes the risks of a business or enterprise.” So, the act of organizing, managing, and taking on the risks (and rewards) of a business, is entrepreneurship.
Being an entrepreneur might sound exciting to you. It does to a lot of people, and for good reason.
Entrepreneurship is the best way to solve the world’s problems.
It’s a statement you’ve probably heard Ryan Daniel Moran, the founder and CEO of Capitalism.com, say once or twice (especially if you’re a subscriber to his weekly show Freedom Fast Lane TV or the Freedom Fast Lane podcast).
And it’s the truth.
If you’re still skeptical, take it from these six entrepreneurs (in order of appearance in the video above):
• Sean Stephenson, the author, speaker and entrepreneur whose mission is to rid the world of insecurity and clear mental roadblocks
• Aubrey Marcus, the founder of ONNIT, a multi-million dollar health and fitness business that has a cult-like following
• Nathan Latka, the founder of Heyo who has designed a roadmap to become a billionaire by age 34
• Ron Lynch, the writer, director and executive producer of infomercials responsible for over $4 billion in sales
• Tom Bilyeu, the president and co-founder of Quest Nutrition, the company that went from zero to $400 million in annual revenue in five years
• JP Sears, the spiritual guru, entrepreneur and comedian whose viral videos have engaged more than one million fans on social media
Watch the video above, or read below, for their statements explaining what is entrepreneurship and why it’s so important:
Entrepreneurialism is what’s going to solve all of our global problems. When you put people into a competitive environment, they come up with the best stuff.
Entrepreneurialism is so important because we need more solutions on this planet because there are so many different challenges out there.
It’s a challenging path. But it is incredibly rewarding because you’re not constricted by anybody else’s ideas of what you should do, or what your product should do, or how you should treat your customers.
You’re able to be that guiding star.
Sometimes people might ignore entrepreneurship as what’s going to drive economic growth. But you can’t ignore it.
It’s the number one growth driver of new jobs in the United States and around the world. And I think that over time, as things like social media, access to markets, and things like that expand and open, entrepreneurship will be more available to the masses.
It will be much more exciting. And getting more wealth if you work hard will be more accessible to many people.
Entrepreneurs create growth, new ideas, new commerce, advancement, and job opportunities.
At the end of the day, an entrepreneur is somebody that overcomes obstacles in the pursuit of creating something.
There’s never been a greater opportunity for potential entrepreneurs.
They really honor the miracle of our own being.
We need to reclaim our personal authority. And I think the lifestyle of being an entrepreneur allows us to live it.