Who starts companies? Who should start enterprises? Who ensures productivity and operations? What is the role of employee vs employer employment? Why does society discourage youth entrepreneurial careers? This blog discusses these perspectives.
Celebrating Companies, Structure and Career Choice
The society celebrates successful entrepreneurs subconsciously, consciously admires their companies but consciously discourages the young from following similar entrepreneurial career paths, and this indicates the duality of structure. A discouraging aspect of wanting to become an entrepreneur are the lack of awareness, connecting the dots or distrust about the entrepreneurship career. Below are popular adverse opinions:
- I want to become an entrepreneur but my parents say ‘go and get a real job…’
- Why would anyone want to become an entrepreneur can’t they find employment?
- Are entrepreneurs like sales people who lie?
- Not everyone can become an entrepreneur!
Unfortunately, even for educated youths, beyond teaching how to write business plans some higher institutions fail to prepare youths for successful enterprising business careers. Hence, the young think their only options are to follow the status quo, and not necessarily gain employment as intrapreneurs (enterprising employees) or self-employment (and potential future employers).
The common denominator regarding the lack of enthusiasm about entrepreneurship is the general inability to appreciate that entrepreneurship is a legitimate way to earn a living and consequently an employment choice. Many educated and less-educated individuals, work their socks off to put children or dependents through the educational system hoping for employment within multinationals or other white-collar jobs (professional, managerial and administrative), when this occurs the individual is seen as achieving the path to the promised land of financial independence, similar for other blue-collar work (manual labour) or pink collar (sales, customer, service related) and these status quo career paths are alright for the choosers because everyone has their ambition and there will always be more employees than employers. However, the young who want to become entrepreneurs are discouraged due to the inability to comprehend entrepreneurship. Many recognize the status quo career paths but are afraid that anyone that wishes to become an entrepreneur is going against the status quo. For instance, individuals are encouraged to become medical doctors but not study other medical aspects or open their own practice (i.e. entrepreneur). People are encouraged to become lawyers to gain employment in prestigious law firms without considering that in the future they can eventually become partners or start law firms (i.e. entrepreneur). But, every sector possesses entrepreneurs- it is possible to become both a professional and also an entrepreneur.
The Duality of Structure and Double Standards
Society celebrates successful entrepreneurs, the billionaires, millionaires, thousand and hundred earners, celebrating the companies they started. The multinationals are an epitome of success to be associated with, many want to work there, dependents are advised to study hard and prepare for employment within multinationals companies, or any successful private company. Therein lies the double standards and the duality of structure; people fail to realize that without the originating entrepreneur who started these private companies, failed, learned and eventually succeeded there would be no company to emulate, want, wish or work for! Enterprises do not start out of thin air!
So, why does society celebrate the company but less the entrepreneurial career path and journey of the individual (entrepreneur) who started the company? Why can’t more people encourage their dependents to also become entrepreneurs like the person who started the company, and put together the team or staff that over years created a multinational with the capacity to employ thousands more people? Why not also start as a micro, small or medium company that employs others to eventually become big? is this the myth of entrepreneurship? Apparently, the entrepreneur’s journey is risky with chances of failure, and people want to reap fast rewards so a steady salary (if the person is able to get a job) seems easier than sporadic income which may be characteristic of early day business start-up. It is true ‘not everyone can become an entrepreneur’ and has the ability to persist through the ups and downs.
However, while not everyone can become an entrepreneur or indeed wants to become an entrepreneur, is it a good enough reason to discourage those who want to become entrepreneurs? Is it a good enough to ask prospective youth latent or nascent entrepreneurs to go get a real job? Is it good enough not to have an open mind to understand what becoming an entrepreneur entails especially for those who want to pursue this career path? We who advocate for the entrepreneurial career know that while not everyone can become an entrepreneur, the multitude dreaming about becoming entrepreneurs need enhanced awareness about the career options, mentality and operational processes available to make informed choices. When this informed choice leads to entrepreneurial intention, motivation and action, we readily support this journey toward a sustainable entrepreneurial mindset, and the competent abilities required for viable business startup and operations.
Factors of Production and The Prosperous Entrepreneur
Furthermore, the foundation of productivity is the entrepreneur. The prosperity of any company, community or country is due to its productivity, a productive citizenry emanate from efficient combinations of the factor of production and enable better opportunities, jobs, and standards of living. In economic theory, the factors of production are land, labour, capital and entrepreneurship. Land constitutes anything above and below the ground like raw materials, building rent; labour are the employees, intrapreneurs, and team that work for the organization and earn wages for their services, capital refers to money or any capital equipment like machinery, buildings and technology, while entrepreneurship is the opportunity identification and development process, which includes making decisions how to utilize scarce factors of production to develop products or services. Hence, the entrepreneur is the key decision-maker who masterminds an effective way to combine all the factors of production to add value, manufacture quality products, provide efficient services, maximize and earn revenue for profit or social causes. Therefore, the entrepreneur is the visionary, enterprise owner, leader, competent manager and the most important component in the factors of production. The other factors do not have sufficient agency and will not work effectively without a competent entrepreneurial leader in any workplace, politics, science, arts, sports, social sciences, technological and any business or trade environment.
Employee (Labour) or the Employer (Entrepreneur)
An OECD paper said within the same age group, young self-employed individuals boast higher “life satisfaction”. Thus, society needs to encourage and support the young ‘go get a real job’ whether it be as enterprising staff or entrepreneurs, because entrepreneurship is a real job and a viable employment choice. Entrepreneurship is not a temporary career path due to inability to become an employee. Entrepreneurship is teachable. There is everything right with wanting to become the leader of an organization regardless of age. Everyone in society needs to comprehend that as human beings the only two positions available in the factors of production and within any real organization are become the employee (labour), or the employer (entrepreneur) in some cases one cannot do without the other, but which path would you pursue to actualize your dreams? The knowledge of entrepreneurship as a legitimate career and employment choice encourages leaders and an entrepreneurial society.
Let us celebrate the entrepreneurs journey because after all companies do not grow out of thin air!
ENTREPRENEURSHIP BOOKS by Dr Beem Beeka & Doo Beeka @Amazon
1. Wealth Empire State Of Mind: Entrepreneurship Is A Viable Career Choice: Everything You Need To Know About “How To” Start A Business, Get The Job You Want, Gain Wealth & Build A Legacy.
1. Wealth Empire State Of Mind: Entrepreneurship Is A Viable Career Choice: Everything You Need To Know About “How To” Start A Business, Get The Job You Want, Gain Wealth & Build A Legacy.
2. How to Start Your Own Business: Entrepreneurship Career Edition 2 (Entrepreneurship Career Startup Edition Book 1)
3. Mu Koyi Sana’a (Hausa Entrepreneurship Book)
4. The Entrepreneurs Tool kit. The African Business Roundtable (ABR).
5. A Practical Guide: How to Start and Grow Your Own Business.
6. Effective Ways to Know, Manage or Motivate your Team to Attain High Profitability.
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Disclaimer: Every possible effort has been made to ensure that the information contained in this article is accurate. While every precaution has been taken in the research but it is advised that names, places, narratives and quotes be independently confirmed by the reader. The publisher and the author cannot accept responsibility for any errors or omissions, however caused. The editor, publisher or author can accept no responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication.
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