Employment will always remain a pillar of any economy and entrepreneurship cannot replace it. As people continue to innovate, labor is needed, and by the way proponents of entrepreneurship are all employed with businesses running on the side. Employment gave them the experience
What happens when everyone is out there starting businesses?
In discussion with a fourth-year university student recently, I walked her out of the entrepreneurship cliche.
“Why do you want to get into the business?” I asked her.
” It is tough to get a job these days. I am completing my degree this year, and I haven’t been to a single internship program.” She explained with a broken heart.
I told her even successful entrepreneurs are looking for employment. Trump did. “Is it better to be employed then start your business or start your business then get employed? You have to take one of the paths.” She moved to the edge of the seat, her eyes wide open. She didn’t have an answer for that.
Students have lost hope and focus has shifted to entrepreneurship as the only way out. Entrepreneurship is not the way out; passion, creativity and innovation is, if not then employment is. Get employed, dislike the job, move out start your business and you will love it.
Entrepreneurship should be taught to young employees. Define young employees as under 40 but above 25 years of age. Why? They are scared of retirement. Most of these employees don’t like what they do, and they find a solution for that. So they leave employment and run their business which they don’t need to worry about retirement anymore.
The chances of you starting a successful business increase with age and that is why in entrepreneurship, 40 is the new 20, says Carl Schramm an economist and Author of burn the business plan, what great entrepreneurs do.
Students should be encouraged to utilize their creative and innovative abilities. Mark Zuckerberg did it at 19 and dropped out of college. Sergey Brin and Larry page did with their PhD proposal in their advanced levels of study.
Notable multinationals today were started by people between the age of 30 and 40. However, there are extreme cases where large corporates have been set up by people well over 60.