An entrepreneur is a founder, and an individual that innovates their passion for people to consume and enjoy; for a profit. They will possess plenty of characteristics and approach several theories and leadership styles, though there has to be a purpose in why an entrepreneurial venture is created, and the typology chosen by them. It is this purpose that sparks success in later years.
Simon Sivek is a leadership expert and he has delivered one of the most popular TED talks which explains a theory on how leaders can inspire. Sinek’s Golden Circle Theory or model explains why successful leaders can be differentiated with the rest. It consists of three parts with the main focus on ‘why’? He proposes that some leaders or organizations know how they do value proposition and every organization knows what they do, though very few know the reason behind why.
To make things practical:
- Why Colonel Sanders made Kentucky Fried Chicken is because of his passion towards cooking and producing a new and quality enriched ‘finger lickin’ good recipe’ for customers to discover the joy out of it.
- The reason behind millennial entrepreneur Selena Gomez’s cosmetics company Rare Beauty is to inspire the generation to embrace inner beauty and that each girl is rare in their own way.
- And the reason behind Dr. Ariyaratne’s social enterprise Sarvodaya Fusion is fulfilment of education and community development in rural and urban areas of Sri Lanka.
These leaders indulge a purpose in their founded ventures. Therefore, the answer to ‘why’ is a result, a purpose, or belief. It is the reason people buy an entrepreneur’s product, and that plays a huge role in the growth phase of the business.
Assuming all the facts above, it is also well known that the world is subjected to change (very much!), hence the best leaders are those with a purpose and are adaptable to make the best out of their traits and experience.
In conclusion, entrepreneurship is a great study to engage in, and especially this ‘new normal’ has been a pull factor to create curiosity, and trends in starting a business. But first, it is vital to realize the moment you think to become an entrepreneur is another risk, therefore ask why do you want to become an entrepreneur? Of course to earn a living! Well, the real answer lies beyond that, and that is where potential success protrudes from. It is this goal, or this purpose that sets the foundation for entrepreneurship. There are plenty of ideas to explore, and discovering is never easy. Though, every good thing starts with a hassle and anybody can become an entrepreneur.
