We explain what an entrepreneurship is and the characteristics of an entrepreneur. Also, what are triple impact ventures.
What is an entrepreneurship?
The term entrepreneurship comes from the French ‘entrepreneur’, which means ‘pioneer’ , and etymologically refers to the ability of a person to make an extra effort to achieve a goal , although its use is currently limited to refer to a new company . or project initiated by a person or group of people.An entrepreneur is the individual who faces the challenge of a new venture or business . For this he must have a positive attitude and great determination to face challenges and difficulties. It can help you: Entrepreneur
Types of entrepreneurship
According to the size:
- Small ventures. Small-scale businesses carried out by one or more people in order to produce or market a good or service , their profits are used to cover the business and maintain the cost of living of the entrepreneur.
- Scalable ventures. Businesses that expand their market without putting effort into improving their product or expanding their stock. This type of venture is evident in the field of technology and digital.
According to the degree of innovation:
- Mirror ventures. Businesses that imitate or are based on the production of a good or service that already exists; or who acquire a franchise of an already successful business.
- Businesses out of necessity. Businesses that arise when the individual seeks a change in her life or as a new way of generating economic income. This type of venture is given by the need of the entrepreneur and not by a market need.
- Opportunity ventures. Businesses that arise when observing a lack or failure in the market.
According to the field in which they are developed:
- Social ventures. Businesses that innovate with ideas that are profitable but also have a positive impact on the social and environmental environment of a community .
- Digital ventures. Businesses that are carried out entirely on the Internet , the production and commercialization of the service is 100% digital.
Characteristics of an entrepreneur
When carrying out a venture, it is important to bear in mind that, in addition to the idea, certain capacities must be developed. An entrepreneurial person is characterized by being:
- innovative. Create a project from new and original ideas.
- creative. Create from interesting and novel ideas.
- Able to take risks . It takes into account the unpredictable and overcomes the challenges that the development of a project generates.
- Persistent. He works and waits patiently for the results and profits, which in many cases do not arrive in the first months, but rather time after the start of the venture.
- Flexible and adaptable. She is open to change and always focused on growing. Along the way, he modifies certain aspects of the venture to obtain better results.
- Patient. He is aware that the idea should not be rushed, and he does not usually lock himself in to think of a perfect idea, but rather chooses to live his life like all other people, to experience the same needs as others and thus find, within that path, the idea to develop
- Informed. Investigate marketing studies that can provide data of interest to an entrepreneur, create ties between people who are in a similar situation.
- Confident and determined. Has or develops an entrepreneurial spirit to work on their own and generate their own businesses. Starting a business is usually a very difficult decision, whoever makes it knows that they are giving up the stability that a salary provides .
Importance of entrepreneurship
Many professionals decide to develop their own project in order to achieve economic stability. Faced with this situation, governments and business incubators help entrepreneurs by organizing entities dedicated to promoting small businesses. This is due to the fact that this type of project gives a boost to the economy , especially considering that the demand for labor tends to grow at a higher rate than the supply . On many occasions, a family business helps the family meet their basic living needs or significantly improve it. In addition, a business gives independence, since a person who has their own business works in a private way and does not depend on bosses or schedules.
Social and environmental ventures
Social and/or environmental enterprises are those that innovate with projects that aim to improve the well-being of society or the environment . For this, they produce a good or a service, but also generate a positive social or environmental impact in a community. Those that aim to offer opportunities to reduce social inequalities will be social enterprises, also called “social impact enterprises”.
Those that aim to reduce environmental impact are called “sustainable ventures”, “environmental ventures” or “environmental impact ventures”. This type of venture also aims to generate a change of consciousness in the consumer . In general, they are carried out by companies that pursue both economic profitability and the positive social and environmental impact of the production of what they sell.
Triple impact ventures
Triple impact ventures are projects that seek to generate a comprehensive positive impact on society and the world. For this, they use three fundamental pillars:
- Environmental impact . The impact on the environment and on the resources generated by the production of the good or service carried out by the enterprise is analyzed and an attempt is made to reduce or eliminate it. For this, recycling , reuse, energy saving practices, among others, are carried out.
- Social impact. The social factor and its importance in the development of entrepreneurship are taken into account. For this, values such as transparency, justice and honesty are respected, which are reflected in social practices such as: generating work, paying salaries in a timely manner, paying taxes , respecting the rights of workers, among others.
- Economic impact. It is the piece that keeps the venture afloat and supports environmental and social practices. It is essential that in order to achieve this end, it does not harm or go against the values of enterprises of this type.
An intrapreneurship is that innovative idea or new business that arises within the structure of a company or organization. The term was introduced in 1985 by Gifford Pinchot as a way of harnessing and fostering the entrepreneurial and innovative potential of employees. Intrapreneurship is born within companies or organizations for the development of new ideas and to face the innovation of the competition. To achieve a balance and encourage the emergence of innovative ideas, it is recommended: Guarantee physical time for employees so that they can develop ideas. Consider the ideas once they are presented. Generate some benefit or compensation that motivates employees to discover new forms of business or innovative ideas.