Entrepreneurship is often defined as “creating a business while scaling it to generate profit,” which is true only to a certain extent. There is a lot more to it, though. Being a young entrepreneur is not just about earning a fortune but also about impact, contribution, and leadership.
So, in Moonshot Pirates terms, entrepreneurship means:
- Solving big challenges
- Living life on your own terms
- Making the world a better place
In a word, entrepreneurs work on solving real problems for real people and improving the world. Because of these greater aims, many of today’s biggest changemakers and visionaries are entrepreneurs.
Entrepreneurs see possibilities and solutions where the average person only sees annoyances and problems.
Nicole Martins Ferreira, Oberlo
Think of Steve Jobs, who gave millions of people access to a portable internet with his smartphone. Refugees fleeing from wars at home use the smartphone to navigate, seek information about their journey, and connect with people who may help them. People from third-world countries use their phones to educate themselves and seek opportunities. And citizens of oppressive states use their smartphones to raise their voices against the regime oppressing them. Perhaps Steve Jobs didn’t have all of these scenarios in mind when he invented the iPhone, but nevertheless, this has been the consequence.
Importance of Entrepreneurs
So, the world needs entrepreneurs to solve its problems, but entrepreneurs are also important on a local scale. In many ways, they are the drivers of societal and global development. Why?
- They create jobs: Without entrepreneurs, we wouldn’t have jobs. By starting new businesses and organizations, they open up work opportunities for themselves as well as for others.
- They create change: Because of their big visions and high goals, their ideas and work are often the sources of local and global change.
- They innovate: Entrepreneurs bring about and integrate most technological advancements into our daily lives. To solve problems, they might need to develop new products, advance technologies, or rethink old business models.
In order for our global community to move forward, we need people who take action, work towards a better future, and create opportunities for growth. Entrepreneurs are essential in any society and community.
Characteristics of Entrepreneurs
Seen from a more personal level, what makes an entrepreneur? What qualities do they possess?
Willingness to take risks
Building your own company is a risky venture. You are creating something from scratch and have no guarantee of success. When it comes to entrepreneurs, their thrill for adventure tends to be stronger than their fear. They enjoy challenging their comfort zone.
Openness to receiving advice
The best ideas tend to be the result of many brains coming together to solve a problem. For that reason, entrepreneurs gladly seek out the opinions of others and ask for advice in order to have the best chances of success. They acknowledge that there is always someone who has more expertise and experience than them and take advantage of that.
Focus on opportunities
The world is full of challenges and opportunities. Entrepreneurs have learned to focus on the opportunities and use this to motivate their ventures. They don’t let big challenges overwhelm them; instead, they feel empowered by them to take action.
Why Become a Young Entrepreneur
What attracts many to entrepreneurship are topics such as freedom, autonomy, flexibility, a greater sense of purpose, and the chance of success. Here are some of the benefits of being a young entrepreneur:
- You are your own boss: You decide how you work, what you do, which goals to reach, etc. You are your own leader with all the responsibility and freedom that implies.
- You have flexible hours: How much time and effort you put into your project is completely up to you, as you’re the only one you answer to, and you set the goals.
- You can work from anywhere: If your work can be handled online, the whole world is open for you to pick a location to work from.
- You have the chance to fulfill your dreams: When you work for someone else, you’re helping them reach their dreams. When working for yourself, you have the chance to reach your own.
- You can bring about change and contribute: With the reins in your hands, you decide what kind of impact your project should aim for.
These are just a small selection of benefits. Many more could be added. Entrepreneurship allows you to build the life you want to live. It includes effort, risks, and uncertainty, but it can definitely be worth it.
How to Become an Entrepreneur
So, how do you become an entrepreneur? In a word, you #takeaction. That’s the secret! All it really requires is beginning to build what matters to you. But, of course, there are things you can do to prepare yourself for the journey:
- Build a diverse skill set
- Find your passion and purpose
- Meet people and network
- Identify a problem to solve you feel passionate about
- Build a great team of passionate people
- Solve the problem together
There’s nothing better than getting better. Join workshops, competitions, or challenges like this popular global youth challenge and start learning the skills of an entrepreneur.
The Rise of Young Entrepreneurs
Entrepreneurship is for everyone, no matter the age. At Moonshot Pirates, we believe everyone has what it takes to make a difference. From tackling the climate crisis to fighting systemic discrimination, young people worldwide are taking their futures into their own hands. There are tons of young entrepreneurs and changemakers out there. And you can be one of them!
So, if you are between 15 and 24 and want to transform your vision into a real-impact business, check out our accelerator program, Launchpad. It is a place for young founders to develop their ideas with the help of accomplished entrepreneurs and changemakers.
