Historical Definition: The term 'entrepreneur' goes back to 1804, defined by SE Jean Baptiste as someone who takes resources to a higher level of productivity.
Human Progress: Entrepreneurs are the driving force behind human progress, not technology.
Recognition: Entrepreneurs only began to be admired around 1700, allowing people to rise through ingenuity and risk-taking.
Measurements of Entrepreneurial Impact
Population Growth: From 1 billion (1800) to 7.3 billion today.
Life Expectancy: Increased from 26 years (1800) to approximately 75 years today.
Per Capita Income: Increased from $300 to $5,000 in present dollars.
Misconceptions and Challenges
Invisible Work: Much of entrepreneurial work is invisible, consisting of millions of daily transactions and improvements.
Intellectual Bias: Media, academia, and cultural sectors often undervalue entrepreneurs, depicting them negatively.
Historic Bias: Negative views on entrepreneurs started in the mid-19th century, portraying them as morally wrong or suspect.
The Reality of Being an Entrepreneur
Self-Sufficiency: Entrepreneurs rely entirely on their abilities for financial security and success.
Value Creation: Entrepreneurs must create value before expecting any support or rewards.
Rejection: They face the challenge of proving their worth in the market, often without institutional respect.
Entrepreneurial Traits and Decisions
Self-reliance: Decision to depend on one's abilities for financial security.
Value First: Decision to create value before expecting opportunities or rewards.
Youth Involvement: Increasing number of young entrepreneurs, some forming companies and IPOs before age 12.
Longevity: Entrepreneurs often continue their work into old age, with ambitions remaining high.
Impact on Society
Job Creation: Entrepreneurs create jobs and support community structures, especially in developing areas.
Engaged Progress: Entrepreneurs trigger ongoing human progress through daily activities and value creation.
Resilience: Entrepreneurs thrive without the need for external validation or a 'cause' to motivate them.
Future Topics
Entrepreneurial Problems: Upcoming discussion on key issues faced by entrepreneurs.
Electronic Value Creation: Exploration of value creation via social media and other digital platforms.
Global Impact: Further investigation into how entrepreneurs influence global economic and social structures.