The Importance of Entrepreneurship
In this article, I’m going to discuss the importance of entrepreneurship and tell you what entrepreneurship is capable of doing by telling you a story about an imaginary island! So let’s get right into it.
The Island of Entrepreneurship
Think about an isolated island named The Entrepreneurship Island. There are three people living in The Entrepreneurship Island. Alex, Daniel, and Mikel are having a peaceful life in The Entrepreneurship Island. There is only one tiny problem which they are dealing with in their lives. The only source of food on this island is fish and each of them need at least one fish per day to survive. They have no equipment for catching fishes, so every day they work hard to catch a fish with empty hands until night to survive.
One day Alex decided to make a net to make fishing easier and make his income more than one fish per day. So he worked during a day and accepted the potential starving risk in order to make his life better. He made it and now he has a net and he can catch three fishes per day with it. Alex is an entrepreneur so the concept of the importance of entrepreneurship appears in The Entrepreneurship Island. let’s take a step deeper and find out what Alex did exactly and find out the importance of entrepreneurship.
Importance of Entrepreneurship
A better Life for Himself
obviously, he can live with better quality now. He can eat three fishes a day and enjoy his time. He also can eat two fishes a day and save one for insurance of his life in every situation that he can’t go fishing.
But let’s say he is smarter and he decides to make more! A true entrepreneur never stops from creating more values and make more profit out of it. So he decides to invest in his business and hire Daniel to make more nets. let’s see what happens next.
Creating Job Opportunities
Alex just created a job opportunity for Daniel and when his business grows and become bigger, he can make more job opportunities. What wait a minute, why would he offer Daniel the position to make more nets? He made the first one and he can make more himself!
Well, the answer is in time! The most valuable thing for Alex is his time! He wants his time to make contact with other islands and sell his nets. Daniel working for Alex is a definite win for Alex! Alex can now make his business bigger and make every other island and it’s population a part of his business. Way to go.
Creating New Markets
Did you see what happens till now? Alex just created a new market! He creates a new market that everybody is a part of it now! Mikel is a reseller of Alex’s nets, Daniel is a worker Alex’s business and other islands are customers for example (it’s a little bit more complicated to keep this article clear, I avoided to explain the economic parts).
The Entrepreneurship Island is Now Rich
Alex’s simple idea and business is a valuable piece of The Entrepreneurship Island economic power. He made his life and his island and his world a better place.
All in One About What the Importance of Entrepreneurship is
Entrepreneurs make businesses. Think about what a new business can do? It can make the business owner richer. It can make jobs opportunities. It can create new markets and finally, it can make the origin country more profitable and make the whole world a better place.
After all, what do you think about the importance of entrepreneurship and it’s effects on society?