Les ENTREPRENEURSHIP AS A CAREER OPTION

LEARNING OBJECTIVES:
After studying this lesson, the learner will be able to:

 explain the concept and meaning entrepreneurship;

 outline the various factors favoring entrepreneurship as a career,
 determine the career paths to entrepreneurship and
 appreciate entrepreneurship as a good career option

Introduction
Many young people are turning to career opportunities in entrepreneurship due to a lack of
opportunities in the formal job market. However, for business-minded individuals and aspiring
business owners, choosing entrepreneurship as a career is not just an option; it’s also a dynamic
journey that opens doors to a world of exciting possibilities.

Part 1. What is ENTREPRENEURSHIP as a CARRER?

It refers to the pursuit of starting and running one's own business venture instead of working for
someone else. It involves taking risks, being innovative, and being willing to face the challenges and
uncertainties of starting and managing a business.
Choosing entrepreneurship as a career option means experiencing something different from
traditional employment in an organization. It involves a deep commitment to the venture, taking risks,
navigating volatility, and performing multiple roles simultaneously (such as being a worker,
salesperson, accountant, and owner). Some entrepreneurs find these challenges to be both
rewarding and demanding.

Factors Favoring Entrepreneurship as a Career Option

1. Desire to Have High Financial Rewards :
One factor attracting the individuals towards the entrepreneurial career is the desire to have
high financial rewards. Generally, individuals prefer to have high financial reward for their
efforts in work. It is not possible in a regular job, which is why individuals are attracted toward
the entrepreneurial career. Successful entrepreneurs have the opportunity to build wealth
through the growth and success of their ventures.

2. Job Insecurity :
Another reason for choosing entrepreneurial career by individuals is that they feel insecure
about the current job in a particular organization. Due to insecurity about the future of the
organization they shift to self-employment.

3. Family Business :
Individuals having family business may also shift to entrepreneurial career as they are already
exposed to entrepreneurial environment. After completing their studies and having some
experience in the industry they may start their own venture.

4. Vision to Leave a Long Lasting Mark :

Individuals are also attracted to the entrepreneurial career because it can make them able to
leave a mark on the society also known as legacy. By starting an enterprise, they offer an
employment opportunity to the public and improve their living standards. The urge to innovate
and improve the living standards of the society makes the society entrepreneurs
famous among the general public.

ENTREP-Entrepreneurial
Mind
 5. Flexibility and Work-Life Balance:
Entrepreneurs can design their own schedules and prioritize their work-life balance. They can
create a lifestyle that suits their needs, spend more time with family, and pursue personal
interests.

6. Personal Brand Building:

Entrepreneurs have the chance to build and promote their personal brand. Establishing a
strong personal brand enhances credibility, opens doors to opportunities, and contributes to
long-term success.

7. Endless Learning Opportunities:

Entrepreneurship is a continuous learning experience. From navigating market trends to
overcoming challenges, the entrepreneurial journey provides a constant stream of avenues to
acquire new skills and knowledge.

Part 2. What are the Career Paths You Can Pursue in

Entrepreneurship?
Careers in the field of entrepreneurship open up a wide range of opportunities that extend far beyond
the conventional roles found in traditional employment settings. Here are some key career avenues
for individuals pursuing the entrepreneurial journey:

1. Founder/Entrepreneur
As a founder or entrepreneur, you are the driving force behind your own business venture.
This role involves developing fresh ideas, formulating a comprehensive business plan,
securing funding, and overseeing your business’ everyday operations. Founders bear the
responsibility of transforming vision into reality, embracing challenges in entrepreneurship, and
steering the course toward success.

2. Intrapreneur
Intrapreneurs, also known as corporate entrepreneurs, are change agents within established
organizations, driving entrepreneurial practices from within. They are vital in identifying
opportunities for growth, leading new initiatives, and fostering a culture of innovation among
colleagues. Plus, intrapreneurs help traditional businesses stay ahead of industry trends.

3. Technology Entrepreneur
Technology entrepreneurs focus on starting businesses in the tech field. This position includes
spearheading efforts in areas such as software development, artificial intelligence, or digital
solutions. Tech entrepreneurs drive advancements in the tech industry, addressing market
needs and contributing to the evolution of cutting-edge technologies.

4. Social Entrepreneur
Social entrepreneurs are dedicated to creating businesses with a positive impact on society or
the environment. They are innovators who focus on creating products and services that solve
social needs and problems. This role merges profit-making with purpose, emphasizing the
transformative power of business for the greater good.

5. E-commerce Entrepreneur
E-commerce entrepreneurs specialize in launching and managing online businesses. They
create and market products or services in the digital space, handle online platforms, and

ENTREP-Entrepreneurial
Mind
 optimize the digital presence of the business. Likewise, e-commerce entrepreneurs navigate
the dynamic online market, leveraging technology to reach a global audience.

Part 3. Steps to become an Entrepreneur

To become an entrepreneur you must have the following:

1. Entrepreneurial Mind Frame

2. Entrepreneurial Heart Flame
3. Entrepreneurial Gut Game
4. Creative Thinking

Entrepreneurial Mind Frame

Relates on the growth mindset of an entrepreneur. This mindset allows the entrepreneur to see things
in a very positive and optimistic light in the midst of crisis or difficult situations. It means, not giving
up in the midst of crisis or rejections even if no one believes in you. In fact, in Chinese writing,
the word crisis is composed of two characters. The first character means danger while the second
character means opportunity.

A true entrepreneurs realize that every event or situation is a business opportunity, and they’re
constantly generating new and innovative ideas.

Entrepreneurial Heart Flame

Entrepreneurial Heart Flame is also about Emotional intelligence or EQ, which is often manifested in
the entrepreneurs’ efforts to nurture relationships with customers, employees, suppliers, and other
stakeholders.

ENTREP-Entrepreneurial
Mind
 It also means that the entrepreneur must looks after the interest of his or her people by motivating
and encouraging them to the best that they can be. This creates caring culture within the
organization that brings about synergy among the people working toward a common vision.

Entrepreneurial Gut Game

This refers to the ability of the entrepreneur to sense without using five senses. This is also known as
intuition- the ability to quickly understand something immediately without the need for conscious
reasoning.

The gut game also connotes COURAGE or in the local dialect, “LAKAS NG LOOB” (strong intestinal
fortitude). A true entrepreneur doesn’t ask questions about whether or not they’ll succeed—they truly
believe they will. They’re never afraid to take risks due to their faith that ultimately they will triumph.

Creativity is:

O Artistic or intellectual inventiveness

O It involves the generation of new ideas

O It’s about bringing something new in the market

Creativity can come in different forms. It can be intangible or a physical object.

O Artistic/Musical—beautiful painting, sculptures, songs

O Creative writing—novels, short stories, poems

O Scientific—inventions or medical cures

ENTREP-Entrepreneurial
Mind