Value of Entrepreneurship

Defining Entrepreneurship

Let's begin on the same page with the basics. Per the Center for American Entrepreneurship:
"Entrepreneurship is the process by which individuals or groups pursue a commercial opportunity by bringing something new—or meaningfully improved—to market, most often through forming a start-up company designed to grow. It is a dynamic process that operates under uncertainty and risk and plays a central role in innovation, economic growth, and long-term productivity."

Characteristics of Entrepreneurs
This list combines insights from American Intercontinental University and Arkansas Small Business and Technology Development Center.

• Passion
• Business savvy
• Leadership skills
• Planning and adaptability
• Networking skills
• Money management skills
• Persistence or resilience
• Risk taker

Benefits of Being an Entrepreneur
triOS College shares this list:

• Freedom and flexibility
• Personal growth and learning
• Creative control
• Make an impact

Myers-Briggs and Entrepreneurs
This story in Inc. shares a study indicating there is an entrepreneurial personality type. The study cited indicates “The entrepreneurs in the group showed a significantly higher orientation for creativity, risk-taking, impulsivity, and especially autonomy than did non-entrepreneurs. Competitive ambition did not distinguish between those who were or were not entrepreneurs, but did relate to those who saw themselves as more entrepreneurial. People with a preference for extraversion, intuition, thinking, and perceiving tended to show greater levels of entrepreneurial orientation.”

Which personalities you may ask? N and P - Intuition and Perceiving. This article by Thryv goes in depth into multiple personalities and their nuances. 

The Value of Entrepreneurship
Economic Impact Catalyst notes "Entrepreneurship creates new businesses, which in turn create jobs, generate income, increase productivity, and contribute to economic growth. Entrepreneurship also drives innovation, which leads to the development of new products and services that can improve the quality of life for consumers." 

This article in USA Facts shares information about small businesses, generally considered that step above entrepreneurs or solopreneurs. A small business is defined as one with less than 500 employees. As of the article in December 2025, "Small businesses are 99.9% of all businesses nationwide. According to an SBA report from June 2025, the US had 36.2 million small businesses. These small firms employed 62.3 million people, or 45.9% of all private-sector employees. They were responsible for 88.9% of overall job growth from 2023 to 2024."

What About Nonprofits?
Nonprofits definitely have a large impact on the economy, directly and indirectly. This Philanthropy Roundtable post from September 2024 proclaims, "The nonprofit sector is a cornerstone of American society,..." The post further shares: "Since 2000, the number of nonprofit organizations in the U.S. has grown by 36 percent. Nearly 60 percent of the growth in 501(c)(3) organizations from 2002 to 2022 is due to an increase in human services and public and social benefit organizations." 

The American Society for Public Administration notes in October 2025: "Beyond direct employment, nonprofits foster opportunities for millions of others indirectly. For instance, child and elder care services provided by nonprofits enable family members to enter the workforce who would otherwise remain at home. Workforce training and job placement programs also help underemployed or unemployed individuals secure sustainable employment. This ripple effect illustrates how nonprofits strengthen the labor market well beyond their immediate staff."

Educating for Entrepreneurship
Geoff Woods, author of The AI-Driven Leader, notes our current education system continues to be based on the system initiated by John D. Rockefeller in 1902. Geoff notes in the transition from agriculture to Industrial Revolution, factories needed disciplined workers who followed orders. The goal of his General Education board was to produce "reliable workers rather than independent thinkers." As we enter the era of AI, a focus will need to be on "strategic thinking, creativity, communication, and collaboration."

Multiple episodes of The Artificial Intelligence Show echo this sentiment, suggesting a return to humanities studies, entrepreneur classes when available, and training in AI use in episode 171. 

​Get to the Point
I have to agree with Paul Roetzer on multiple episodes of The Artificial Intelligence Show that the way forward in this AI world is through entrepreneurship. 

• Noted in episode 185, it will be up to entrepreneurs to create jobs and work needed in small focal points to weather the transition of large businesses shedding employees. 
• Noted in episode 165 alluding to AI replacing young workers: "I would love to see growth and innovation and entrepreneurship as...the future engine of economies." 
• Who are entrepreneurs? You are if you're reading this! 
  • Solopreneurs and freelancers
  • Nonprofits, especially the small to mid-sized ones who are in the social services realm
  • Authors - entrepreneurs themselves and idea generators

Here's to the Entrepreneurs!
What made you decide to take a chance and start a business or nonprofit? It's hard work, but what do you like most about it?

Let's Chat! or find me on LinkedIn or Substack to share your thoughts! 

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