Entrepreneurship
The 14th Amendment of the Constitution of the United States provides, in part, that no State can "deny to any person within its jurisdiction the equal protection of the laws; nor shall any State deprive any person of life, liberty, or property..."
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THE OFFICE OF ENTREPRENEURSHIP EDUCATION (OEE). The Office of Entrepreneurship Education (OEE) develops and promotes innovative resources for small business owners and prospective entrepreneurs. These resources are designed to assist in the start-up, management, and growth of small businesses. Such resources include specialized training sessions, distance learning, written materials, websites, other means of providing business development, business management, and business growth information. The Office of Entrepreneurship Education's mission is to provide entrepreneurial information and education, resources, and tools to help small businesses succeed. The office is an integral component of Entrepreneurial Development's network of training and counseling services.
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THE OFFICE OF ENTREPRENEURSHIP DEVELOPMENT (OED). The U.S. Small Business Administration’s Office of Entrepreneurial Development (OED) oversees a network of programs and services that support the training and counseling needs of small business. It is the U.S. Small Business Administration's (SBA) technical assistance arm with resource partners located throughout the country. The Office of Entrepreneurial Development’s mission is to help small businesses start, grow, and compete in global markets by providing quality training, counseling, and access to resources.
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What does “entrepreneurship” make you think of? Innovation? Business savvy? Perseverance?
People choose to become entrepreneurs for a variety of reasons, but there are a few primary motivators that nearly half of all entrepreneurs cite as being a major factor in their decision to launch a business. At the top of the list is the ability to be one’s own boss and the possibility of greater income. Entrepreneurs also say achieving a work/family life balance and creating an outlet for their ideas are very important factors in their decision to start a business.
Although entrepreneurship includes many sacrifices and challenges, it can be very rewarding, both financially and personally. The Founder or Chief Executive Officer (CEO) of a successful startup may earn a lucrative annual income, combining a salary and dividends. Perhaps even more appealing to founders and CEOs, entrepreneurship has the potential to generate wealth that can be passed on to one’s children and grandchildren or given to advance philanthropic pursuits.
“Enjoying the fruits of one’s labor, passing financial security to children, or blessing others with charitable giving are powerful incentives for many entrepreneurs.”
The entrepreneurial mindset combines several different skills that require careful development for the successful achievement of a business idea. For example, an entrepreneur must be able to balance an understanding of how business works - including from a financial and operational perspective - with a drive for innovation. A successful entrepreneur will possess many abilities and characteristics, including the ability to be:
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Curious
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Flexible and adaptable
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Persistent
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Passionate
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Willing to learn
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A visionary
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Motivated
Entrepreneurial drive stems from qualities like these, just as an entrepreneur's ability to succeed will depend on developing these abilities. You must also understand when there is an opening in the marketplace that no other provider is meeting and have the business sense to know how to go after this new opportunity at the right time. Therefore, if you’re looking for ways to turn your innovative idea into a successful business, consider a mentor or enrolling in the Entrepreneurial Leadership Program today.
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