The point is to enjoy life unconstrained. Entrepreneurship can do that for you. Far too many schools teach you how to be a good employee, how to follow the rules, color within the lines and obey authority.
Woody Powell is a Stanford sociologist who studies the economic culture of cities. Recently, he and his research team studied why certain regions—Boston, San Francisco, San Diego—became leaders in biotechnology while others with a similar concentration of scientific and corporate talent—Los Angeles, Philadelphia, New York—did not. The answer they found was what Powell describes as the anchor-tenant theory of economic development. Just as an anchor store will define the character of a mall, anchor tenants in biotechnology, whether it’s a company like Genentech, in South San Francisco, or a university like M.I.T., in Cambridge, define the character of an economic community. They set the norms. The anchor tenants that set norms encouraging the free flow of ideas and collaboration, even with competitors, produced enduringly successful communities, while those that mainly sought to dominate did not.
Entrepreneurship means building your own destiny, not one defined by your parents, teachers or friends. It means taking your own creative genius and putting it to work to create something new and exciting in the world. Maybe you’ll get filthy rich off your idea, and maybe you won’t.
Bhide (1999) found in his research “most startups derive from individuals seeking self-employment rather than the conduct of an entrepreneurial effort to develop new products, markets, technologies, and so on” (p....
[tags: Entrepreneurship, Business Planning, Career]
To Schumpeter, the main function of an entrepreneur is an innovator who induces forward shifts in the market through the improvements which he introduces.
[tags: Entrepreneurial Theories]
Powell suspects that anchor tenants play a similarly powerful community role in other areas of economics, too, and health care may be no exception. I spoke to a marketing rep for a McAllen home-health agency who told me of a process uncannily similar to what Powell found in biotech. Her job is to persuade doctors to use her agency rather than others. The competition is fierce. I opened the phone book and found seventeen pages of listings for home-health agencies—two hundred and sixty in all. A patient typically brings in between twelve hundred and fifteen hundred dollars, and double that amount for specialized care. She described how, a decade or so ago, a few early agencies began rewarding doctors who ordered home visits with more than trinkets: they provided tickets to professional sporting events, jewelry, and other gifts. That set the tone. Other agencies jumped in. Some began paying doctors a supplemental salary, as “medical directors,” for steering business in their direction. Doctors came to expect a share of the revenue stream.
Second, there was a talk on entrepreneurship by a guest speaker, Mr.
I don’t regret any of my college experience except that perhaps it went too quickly. College prepares you for life, but not in the way you think it might. The diploma is just a piece of paper, but the friendships, lessons and responsibility you’ll gain during your college years are vital -- especially if you’ll become an entrepreneur.