“The highest manifestation of life consists in this: that a being governs its own actions. A thing which is always subject to the direction of another is somewhat of a dead thing”. Thomas Aquinas
One of the biggest misconceptions around learning the principles of entrepreneurship is that it is only for those considering starting and running a new or existing business. This line of thinking is shortsighted because, in truth, we are all in business for ourselves. We all engage in the principles
of entrepreneurship we just may not realize it. If we look a little closer, we will see the similarities.
We are all in the business of managing our personal lives. We are a business of one. Like any business, we have expenses: rent or mortgage, food, transportation, utilities, insurance, etc. Just like any business, we need to generate enough income to meet expenses. This is Business 101. Generate enough income to meet expenses and hopefully have something left over. Businesses call this “profit”, and personally we call it “disposable income.” They have different names, but they both mean the same thing.
Businesses provide products and/or services to generate income. Entrepreneurs provide a product or service that meets the wants and needs of their customers. They must market their services to attract customers because they there is plenty of competition seeking to gain the same customer.
As a business of one, we need to redefine our search for employment. A job is an exchange of a service provided for a fee; we just call it paycheck. The service could be physical labor, providing customer service or administrative help. The type of job is not the point. We do the job, whatever it is, to generate income to meet expenses. While you may not call it that, but that is a business of one.
An employer from this perspective is a customer that pays a fee for the services provided. As a business of one, an open position is simply a potential customer with a need. Sending your resume and applying for the position is marketing your services to say you can meet the need of the potential customer. Just as we do not spend our money on products and services to meet the needs of the seller, employers do not hire individuals because of the needs of the individuals. They do not hire us because we need a job. Employers hire individuals that can meet the needs of the employer.
Business marketing is about distinguishing themselves from the competition in order to gain new or keep existing customers is what. Applying for and interviewing for a position is essentially the same thing. The resume is the marketing tool of the business of one.
Understanding this analogy hopefully helps develop a fresh way of thinking. The number-one reason for learning the principles of entrepreneurship is to develop the entrepreneurial mindset. A new way of seeing yourself in the world of work.
Learning the principles of entrepreneurship is bigger than starting and running a business. It is also about developing a way of thinking that empowers our lives, whether we are starting a formal business or seeking gainful employment. Understanding and implementing these principles in our personal lives is one of the most empowering moves we can make. The same skills and way of thinking required to be a successful entrepreneur are the same ones required for living an empowered life.
I encourage you to take the steps for success in the business of life. Find whatever method works best for you but learn the fundamental principles of entrepreneurship and your way of thinking about the business of life will never be same. We integrate developing the entrepreneurial mindset into all our skills training courses, so there is a good place to start.
If you need help, we are there to help you. Contact the Greater Paterson OIC: hnelson@gpoic.org or visit: www.gpoic.org.
Want to develop the entrepreneurial mindset? Want to prepare yourself for the new world of work? We can help.
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