The Essence of Entrepreneurship

What is the fundamental thing that entrepreneurs do that makes them entrepreneurs? This article on has a brilliant answer.  It was written 37 years ago by Harvard Business School professor Howard Stevenson.

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

I love the simplicity and density. Stevenson’s definition expands entrepreneurship beyond the conventiaonal boundaries of the startup company. Such a pursuit is critical for anyone seeking innovation, anyone with limited resources, anyone with a vision beyond his means. Jon Burgstone, author, entrepreneur and teacher, explains it this way:

Every time you want to make any important decision, there are two possible courses of action. You can look at the array of choices that present themselves, pick the best available option and try to make it fit. Or, you can do what the true entrepreneur does: Figure out the best conceivable option and then make it available.

I pick the second option. What about you?


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