Entrepreneurs are the pioneers of economic development as they are at the top of the corporate leadership chain. There is a misbelief that technological advancement alone leads to economic growth. However, it is the entrepreneurs who catalyze the process of economic development.
Entrepreneurs Fuel Economic Growth
Entrepreneurs serve as an asset to any country. The sole reason why the United States falls amongst the most developed nations is due to its entrepreneurship culture, research, and innovation. As narrated by Michael Nassirian in his book, “I’m Tired – How to survive and succeed in Corporate America,” it is optimal to create work environments that drive people to challenge the norms and daily activities. People should be allowed to ask “why” more often to change the status quo without damaging egos.
Let’s read further to understand how entrepreneurs improved the corporate culture in America:
They Allow People to Own Their Mistakes
The new products and services introduced by entrepreneurs create a cascading effect, thus, stimulating related businesses or sectors to support the new venture. When we look at history, it gives us proof that it is filled with prestigious inventions, which took place by mistake. Michael Nassirian says in his book that it must always be advised in every organization that the person committing a particular mistake should know their mistake. That mistake should be acknowledged and accepted by that person before hearing it from anyone else.
Allow Struggling Sectors to Take Advantage
The new entrepreneurial ventures enable the evolution of new markets and increase employment opportunities, thus, creating wealth. The increased employment and higher earnings contribute to national income in higher tax revenue; hence, increasing government spending. It also allows other struggling sectors to take advantage of the new income generated in the economy.
They Create Social Change
With new offerings of goods and services in the market, human dependence on traditional systems has gone obsolete. It results in improved quality of life and morale, thus, allowing you to be your own boss via facilitating the virtual working.
Moreover, globalization in technology has reduced the gap in terms of tools used in underdeveloped and developed countries. It allows entrepreneurs to compete with others across the world and improve their living standards. “As a leader, entrepreneur, innovator, scientist, or anybody who wants to excel in life, you’ve been given a chance to refine and reinvent yourself in this new, virtual [digital] era,” says Michael in his book.
Final Thought
Entrepreneurship not only increases wealth in the country but has deep-rooted benefits. Nevertheless, entrepreneurship can only work well if it is bonded with outstanding leadership and the support of the government.
Asking stupid questions, making mistakes, trying to achieve better, and learning from them is part of entrepreneurship. “In this corporate environment, nobody will provide you with the information needlessly. You will have to seek the information that you need and be relentless in the process. Entrepreneurship requires you to be in a complete commitment with yourself,” he says.
If you wish to learn more, read “I’m Tired – How to survive and succeed in corporate America” by Michael Nassirian. You can also contact Michael Nassirian directly via his official website Michael Nassirian. Let’s reform leadership today for a better corporate tomorrow!
