Best definition of Entrepreneurship

A couple of years ago, I was digging around on the Internet and stumbled across the following definition of entrepreneurship from Harvard Professor, Howard Stevenson as written in 1983:

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

I found it again just a few days ago in an article on WWW.INC.COM. It really home this time. I realized that every successful entrepreneur, business person, and individual I've ever met instictively follows Stevenson's definition. And it's not just in the business world. Think about the successful not-for-profits in our area. Think about the creators, directors, and managers of those organizations. Each embraces this definition of entrepreneurship in their own way.

This is one of those definitions that takes reading a few times to begin to ferret out its full meaning.

Over the years, I've heard business owners and others say: "Tell me the rules. I don't care what they are, but I need to know the lasdcape I am working with." Given knowledge of the "rules" or situation that they are in, successful people will pursue their dream, their opportunity, regardless of the situation they find themselves in or the resources that they have at the time.

I would expand Stevenson's definition to not only include entrepreneurs, but to all those who seek success and personal fullfilment. Successful people are not interested in being handed anything. They are driven to pursue opportunity and to make their world, whatever it is, successful. It's something for all of us to strive for.


Comments (Comment Moderation is enabled. Your comment will not appear until approved.)
Comments are not allowed for this entry.