The idea of entrepreneurship is not merely establishing a business. It is a noble concept that benefit the whole society.
The definition of Entrepreneurship is the process of establishing a new business. This process includes designing, launching and running the newly emerged startup. Entrepreneurship also identified by offering product or service for sale or hire. In simpler words, creating a new business which means creating a new company.
Now, the noble part of entrepreneurship concept relates to the elements of ‘creating’ and ‘new’. When an entrepreneur entering the market, there must be something new that he/she brings into the table. The ‘new thing’ might be in the form of new product which never existed before or an improvement of the existing product or a new company into the market.
To better understand it, consider these examples.
Thomas Alva Edison is one of the noble entrepreneur. The guy who invented the light bulb and created a company based on the new invention so that the light bulb can be available for everyone. Imagine how the world still relied on other sources of illumination to light in the darkness of night if Edison did not invent the light bulb and created his company. For your information, his company will later become General Electric, one of the biggest conglomerate in the world and the company continued with innovation.
Another best examples are Steve Jobs and Bill Gates. While Edison directly involved and in his research laboratory doing experiment. Steve Jobs and Bill Gates set the defining stone for next generation of entrepreneurs, which are not inventors by themselves.
Although both Gates and Jobs are never labeled as ‘inventor’, but they have created something that being used by almost everyone on this planet. Gates created Microsoft which being used by almost all the PC’s in the world, while Jobs changed the world of personal computers through Apple’s Macintosh, before Macintosh computer was viewed for non-personal and the size of a computer was gigantic!.
Jobs also went on to create a tablet computer, a segment that never existed before, a combination between a personal laptop and a smartphone.
Creating a new product and make society benefited from it and inspire next generations. This is what a we called noble concept of entrepreneurship.
Take a look at Elon Musk, Sergey Brin, Larry Page, and Mark Zuckerberg, these people are entrepreneurs who made our society move forward.
One might argue that not every entrepreneur can become those people mentioned above. Majority of entrepreneurs are small to medium sized business owner. In this case where is the nobility? What society gained?
Apart from being true that most entrepreneurs are small to medium sized business owner. One might forget that when an entrepreneur open his/her first business, it creates new workplaces. At its smallest scale, the nobility of entrepreneurship is to create jobs for others.
Entrepreneur offer solutions towards society. Evan Carmichael said (if not mistaken), “I believe all entrepreneur will be able to solve the problems in humanity”.