The document discusses three key aspects of entrepreneurship: necessity being the mother of invention in times of scarcity, turning wild ideas into reality through perseverance, and learning from failures to achieve success. It notes that entrepreneurs address needs through innovation when resources are lacking. They also persist in developing their imaginative ideas until making them real through pushing boundaries. Furthermore, entrepreneurs welcome failures as learning experiences that help them grow and drive them forward with improved skills.
The document discusses three key aspects of entrepreneurship: necessity being the mother of invention in times of scarcity, turning wild ideas into reality through perseverance, and learning from failures to achieve success. It notes that entrepreneurs address needs through innovation when resources are lacking. They also persist in developing their imaginative ideas until making them real through pushing boundaries. Furthermore, entrepreneurs welcome failures as learning experiences that help them grow and drive them forward with improved skills.
The document discusses three key aspects of entrepreneurship: necessity being the mother of invention in times of scarcity, turning wild ideas into reality through perseverance, and learning from failures to achieve success. It notes that entrepreneurs address needs through innovation when resources are lacking. They also persist in developing their imaginative ideas until making them real through pushing boundaries. Furthermore, entrepreneurs welcome failures as learning experiences that help them grow and drive them forward with improved skills.
There is a need to invent, create and innovate when there is scarcity. As a
marketing student, I was taught that before starting a business I must first determine and understand the needs of our target market. In the video that I saw, businessmen do exactly like that since the area where they are located is devoid of water, they had brainstorm on what to do and invent a machine that can be used in the process of producing a water. Ingenuity over scarcity, this is something that I can use someday when I want to create something that will benefit both me and my supposed target in the future when I start creating my own business.
B. Turning Wild Imagination to Reality
It may seem impossible, but if we keep pushing our imaginations, it may become a reality. As an entrepreneur, we must possess these qualities. Entrepreneurs are willing to push their imaginations until it becomes reality. Even if they encounter such situations or difficulties they don’t easily give up. C. From Failure to Success: Learn and Grow I think as long as we are willing to learn from our mistakes, our failure will not define us. To be a great entrepreneur, we must first face failure in order to develop our emotional and coping skills. Take what you have learned from it and use it to drive you forward. Perseverance is needed to become an entrepreneur; it is a test of how long you will be able to persevere through difficulties, despite the challenges you may face.