A higher level of productivity

There are lots of different names for entrepreneurs and various takes on what the word really means. Lots of you had your own views on what the definition of entrepreneur should be when I blogged on the topic last year.

One rather old but very relevant definition I came across recently is by the French economist Jean-Baptiste Say. In 1803 he said an entrepreneur “shifts economic resources out of an area of lower and into an area of higher productivity and greater yield”.

More than 200 years later the definition rings true. Entrepreneurs identify areas that are under-performing and are ripe for disruption. They go in, shake up the market and increase productivity.

I was interested to read in The Atlantic that falling levels of entrepreneurship could be seen as good news for the economy, and would strongly disagree with that idea. Entrepreneurs are the job creators of the future and need to be encouraged, supported and celebrated.

Here are some of my favourite definitions of entrepreneur shared by you on LinkedIn:

Daniel Enrique Diaz Ramirez said:

Entrepreneurship is living with the uncertain and making something possible no matter what. It’s risky but is exciting.”

Elizabeth Babafemi suggested:

An entrepreneur takes big leaps, dreams big, holds head up, never looks back, believes in possibilities, works hard, and ignores the naysayers…”

Himanshu Joshi simply said an entrepreneur is “having fun while innovating things…” William Vanbergen offered “someone who has the perseverance to keep going against the odds, over time, to realise their vision.”

The last word goes to Muhammad Umair Moiz though:

I think entrepreneurship means the fulfilment of that need of society which society didn’t know up till then.”

Posted by:Richard Branson