So, What is Entrepreneurship? - SockSeed
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So, What is Entrepreneurship?

Yes, today, SockSeed will tell you all about what is entrepreneurship, and who are entrepreneurs.

But before we start let us explain why we are talking about a subject that everyone should be familiar with. Several days ago, we had meeting, and one of our teammates told us how he was shocked when trying to explain the idea of Sockseed to someone resulted in a question: “huh, don’t I need tons of money for that?”. Thus, we thought, that a post on entrepreneurship will be a nice addition!

So, What is Entrepreneurship?

As we know, everyone is different, and everyone has different ideas on different topics. Same is with entrepreneurship, the definition is different for everyone. Some of us imagine tech geniuses with Silicon Valley start-ups, while others the small shop owners that can be found on the main street, or in the small alley. Let’s not forget those spooky side alleys that sometimes cover the gems! But let’s come to a universal SockSeed’s definition of entrepreneurship. For us, here at SockSeed, Entrepreneurship encompasses both of statements above, but it’s the idea and the drive to put it to work that we acknowledge the most!

According to Elizabeth Amini, CEO and co-founder of Anti-Aging Games LLC, (a company that develops online games to train memory and focus, and an adjunct professor at the University of Southern California’s Marshall School of Business.) Most people think being an entrepreneur is all about coming up with an idea, but that’s just one part. It’s also important to know, right from the start, how you will reach interested customers in an effective and affordable way.

Let’s look at a small case so we can help you understand Entepreneruship better:

Meet A and B. (We don’t want to use any names so you can think them up by yourself 🙂 )

Both A and B are working hard at their jobs, but both want to change something.

Both A and B have a fantastic idea of opening up a shop in the neighbourhood.

Same, right? But now comes the difference between them.

A does nothing, every day he/she talks about this awesome plan, but that’s it, he just talks.

At the same time B, takes action. he/she brainstorms, writes up a proposal, talks to his/her friends about the idea, goes to real estate agencies, asks about prices, starts developing his prototype. in short, does everything to turn his idea into a reality. Hopefully, comes by SockSeed, where we help him further develop his idea and start his own business.

Now, who do you think is the Entrepreneaur? A or B?

We would like to hear your answers in the comments 🙂

Until then, let us give you more tips.

Who are Entrepreneurs?

To answer this question we will use MJ Gottlieb’s (co-founder of consulting firm Hustle Branding and author of “How to Ruin a Business Without Really Trying” (Morgan James Publishing, 2014))  words:

“An entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need,”

Tips for Aspiring Entrepreneurs

Are you ready to join the dark side? Kidding, Welcome, to the world of entrepreneurship. But before you start your quest, SockSeed would like to remind of some inportant tips!

Learn from others’ failures. Don’t admire that small percantage of businessed that grew to become successful, study those that eneded up failing. For once in your life listen to this famous statement: “Don’t make the same mistakes I did!”

Make sure this is what you want. Don’t forget that entrepreneaurship entitles lots of work. And that on the other hand is your time and effor. Don’t start something that you’ll ignore if things get tough. Work on something that has a meaning for you!

Solve problems. Entrepreneurs should always be in search of problems to solve, and not the other way around, said Ajay Bam, a lecturer in entrepreneurship and innovation at the University of California, Berkeley’s Haas School of Business. In other words, “they should not start with a solution looking for a problem,” he said.

Be passionate. Successful entrepreneurs are driven primarily by a need for achievement and the desire to make a meaningful difference, Bachenheimer said. “The most important traits are passion and persistence, but these must not be confused with arrogance and stubbornness,” he said.

Get advice from those who have done it. Ask your stubborness and pride to look the ather way, and ask for advice. It’s better to ask than be sorry when something goes wrong and you have no idea what’s wrong. Amini advised would-be business owners to find mentors who are successful, as well as to read books, network with people they admire and look into great educational programs to help them throughout the process.

Be patient. We all want to have results as soon as possible. Trust us, while working on SockSeed we wanted to achieve our set goals in a blink of an eye. Sorry to disappoint but, it doesn’t always work that way. Sometimes, better said usually, you’ll need months, or even years of hard work until you reach your destination. But don’t get discouraged, SockSeed is here to help you on your journey and motivate you!

SockSeed is waiting for you! if you have any questions we are always happy to answer them. And don’t forget to asnwer that mini case we had in the beginnning of the post!

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SockSeed’s platform can help you with all these tips so do not hesitate to contact us. We know that every beginning looks scary but those tips should help you feel more motivated. If you find value to this post then get ready for many more articles to come written just for you!

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Katie Topchishvili
katie@sockseed.com