If you have always wanted to start your own business, but were afraid to because ‘no one you know is doing it,’ you may be surprised to learn that your instinct to be an entrepreneur is in line with global economic development programs.
Multi-lateral organizations, like the United Nations, that were founded to help create a world of peace and prosperity, include an emphasis on entrepreneurship in their agendas. When you consider that most of the world’s people live in countries that are struggling to create a strong economy, this commitment to entrepreneurship signals that people who want to start a business are on the right track.
Entrepreneurship is recognized as a ticket out of poverty and an opportunity for innovative, creative, hustling people to separate themselves from the pack and focus on self-reliance and personal economic development.
Even though many individual countries prefer to emphasize government control, community commitment and self-sacrifice.
Why does entrepreneurship hold a favored place?
According to the OECD’s report on Youth Entrepreneurship, entrepreneurship can “foster job creation, economic growth, poverty alleviation and formalization of the economy. And has the potential to “spur innovation, increase competition and encourage social cohesion by acting as a mechanism for the disadvantaged and socially excluded.”
The United Nations calls for entrepreneurship to “create jobs, drive economic growth and innovation, improve social conditions and address environmental challenges.”
In other words, entrepreneurship has a huge role to play in getting the world in working order.
So where does that leave you? One person with an idea and a dream and maybe even a plan to bring a product or service to the global marketplace that you think will deliver value. The commitment to entrepreneurship leaves you at the absolute forefront of delivering on these great goals. As you begin to start your business, you can think about the broader global goals that you can contribute to just from your own enterprising efforts.
Here’s is an overview of some of the issues and what the policy items may mean to you as an entrepreneur:
Job creation
Entrepreneurship can create a job for, at least, you. Now you may already be in a job, so your ‘side hustle’ ends up creating a second job. If you outsource work to a virtual assistant or use an e-mail service provider or web hosting company, you are creating even more jobs. When you think about getting your business started, think about all the other people who stand to benefit from what you’ve created. You don’t have to create two million jobs like Wal-Mart, one is a great place to start.
Economic growth
When you provide a new product or service to the marketplace, you are adding to the economic pie, not subtracting from it. The economy grows and expands because each new product builds upon the last one. You may think adding something will replace something else so jobs will be lost and growth will stagnate. But that’s not how it works. When you bring in your new product or service, you are filling a gap in the marketplace. Which means you are increasing the value of the market. Sure some products are created that wipe away old ones, goodbye phone booths. But for the most part, new innovations are additive and we all want to keep the pie growing.
Social Conditions
Are you one of the people who is frustrated by your current job in the familiar economy? Do you find your time spent wasted commuting, or attending meetings that do not make any sense? How much would your life improve if you were in charge of your own business? When it comes to improving social conditions, global organizations might be thinking about alleviating poverty for millions, (and you can think about that too), but you are more likely hoping to improve your own lot in life. And there’s nothing wrong with that. You cannot help others to have a better life if you have not managed to create one of your own. So go ahead and focus on improving your world and your immediate world around you before you jump to fixing everyone else.
Innovation and competition
Take a look at all your favorite products. Are there any that were not first invented by entrepreneurs? I once tried to think of an every day popular product that was invented by government, I could not think of one. Maybe a weapon of war, but hardly a product used by all people to have a better life. If you are thinking about a product or service that can provide value to the marketplace, you should go ahead and bring it on. The world needs a variety of ideas and interests to keep moving forward. Our progress comes from people like you who are available to risk, sometimes everything, to make lasting change. Competition helps you get better and better. We should have open markets so you can continuously see all available products and improve your own production and practices. You would not want to watch the Olympics with just one country right? So why would you want to participate in the global economy all alone?
Environmental challenges
You may be thinking that tackling the grand problems of the global environment is outside the scope of an aspiring entrepreneur. Well not necessarily. You can do your small part simply by participating and ensuring your business is part of the solution to building a healthier and cleaner world.
Big, lofty pronouncements on strategic multilateral goals may sound foreign to you. But when you look closely at the ideas that are being expressed, you may find that your own thoughts and plans are in direct alignment with the global agenda.
Over the years, the mandate for organizations like the United Nations has grown (along with the bureaucracies) to deliver a more, universal message around activities countries can do to boost their economy, health and well-being of citizens. One of those initiatives that receives attention is entrepreneurship.
The reason this is interesting is because entrepreneurship is often about individual achievement and financial independence. Yet most countries do not support those specific concepts except when it comes to growing the economy and encouraging innovation, then entrepreneurship becomes a favored goal.
The fact is, most countries know that entrepreneurs are needed to support economic growth and development. Without people who are willing to take risks, come up with ideas for products or services or deliver new products or services, human beings would not progress.
From Edison and Tesla and the commercialization of electricity, to Bezos and the “everything” store, entrepreneurs have led development, not governments.
If you are one of the people ready now to pursue your entrepreneurial dream but lack the confidence to get started, you can find inspiration, assistance and guidance from global government agencies that actively promote the idea of entrepreneurship to build a better world.
Your entrepreneurial dreams are not a weakness or bad idea. The dreams are critical to making the world a better place and improving the economic well-being of all.
Struggling with how to get started: Download my book Life Dream: Seven Universal Moves to Get the Life You Want through Entrepreneurship. (Disclosure: this link is an affiliate link to Amazon.com meaning if you use the link to go to the Amazon website I may receive compensation.)