THE ENTREPRENEURSHIP CYCLE
Over the past, I have always defined entrepreneurship as a mere act of setting up an enterprise, employing people, paying bills, pocketing the profits and waking up the next day to live that cycle. However, this thought has greatly been challenged over the last few weeks. I mean why wake up every day just hire more people, make more money, and open more outlets without necessary solving problems, improving people lives and making a positive impact on the community around you?
Through my trip around Ghana startup Eco-system, an Accra to be specific, I have noted solving problems and using business solutions to impact change has been very consistent in a story of an entrepreneur. This means you can’t define entrepreneurship without solving challenges, giving value and impacting people lives with your business.
In solving problems, adding value and giving solutions, entrepreneurship comes with its share of advantages and disadvantages. The most obvious pros are; Flexibility, Control, and Freedom. The advantage is the opportunity to be your own boss. As entrepreneurs, we are easily willing to adapt, accommodate, compromise and with a high level of freedom and flexibility without worrying how to level and accommodate various bureaucracy, in making the important decisions regarding your business and career life.
However, it’s not all an easy road as well. From the tour insights and engaging with entrepreneurs, challenges are inevitable. It’s a journey filled with uncertainty, loneliness, overstretched work schedules and most of the entrepreneurs even go for months if not years without a salary. This the price that most of us might not be willing to pay. It involves making hard decisions that might not only affect you but also affect the lives of those dependent on this organization. Managing people, and striving to always be ahead of the curve are some of the areas all entrepreneurs need to work on.
Entrepreneurship is not an easy task for those looking for money minting projects but can worth fulfilling to those looking to solve challenges and providing value using innovative business models.