“the practice of starting new organizations or revitalizing mature organizations, particularly new businesses, generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. Many "high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. Angel investors generally seek returns of 20-30% and more extensive involvement in the business. Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs.”

It is hard to choose a starting point when attempting to describe the benefits that entrepreneurs have provided through their vast contributions to society. They have provided new methods and technologies that have catapulted American culture to the elite status that it enjoys today. The creation of a competition in which only the strong survive has stimulated the initiation and incubation of new ideas that has led to the increased quality of products and the availability of enumerable choices to the people. The existence of choices is vital to maintaining a situation in which prices are kept low enough to ensure that affordable options are open to people at all economic levels. Entrepreneurs have also provided jobs and employment through the establishment of thriving businesses and new market places, thereby increasing the opportunity for prosperity. Therefore, the average American family has been able to provide a good life and future for their children and their children’s children.

And let’s not forget charities! The willingness to give to those less fortunate has long been a hallmark of the traditional American spirit. Where would our nation’s charities be today if not for the entrepreneurs who created the opportunities for businesses and individuals to give literally billions of dollars to those who cannot help themselves or who have significant short-term needs?

The benefits of entrepreneurship have not only been seen corporately, but individually as well. Imagine for a moment the satisfaction that must be produced by taking a thought or idea and transforming it into something tangible, something that you can feel, touch, and watch others benefit from. What a sense of individual accomplishment and personal satisfaction that must bring! The impact of such an experience on one’s psyche and self esteem is beyond description, as is the sense of freedom that can only come from being in full control of your own personal and professional life. Having the ability to control your own time and choose your own direction in accordance with your own vision provides unlimited potential for financial prosperity and wealth creation. It is a place only limited by where your imagination and drive will allow you to go.

Due to the current circumstances of our country, many are questioning the future of the entrepreneur in our society, and whether entrepreneurship will survive this spell and still remain the dominant force that we have always known it to be. Despite the concerns of some, the reality is that in recent history, there has not been a greater time for the entrepreneur.

Have you ever wished that you could go back in time to insert yourself into a particular situation in the past, thereby becoming able to take advantage of the unique circumstances of that opportunity? Well, I believe that we are now in a rare moment in time, with a unique chance that those in the future may envy; a true once-in-a-lifetime opportunity may be at our very doorstep!

At the beginning of the 20th century, our country experienced an industrial revolution. In those times, we saw great innovations and new technologies, and revolutionary new ways of doing things were invented. I believe that a similarly significant and exciting time is immediately ahead.

With a rising national debt and uncertain economic future, we are once again at a crossroads in our history. I do not think that we have choice whether or not to innovate. We must either innovate, or accept the occurrence of major changes in our culture. With our very way of life at stake, I believe that the entrepreneur will again lead the way.

In an ever-changing and more dangerous world, we have heard our leaders discuss the need to wean ourselves from reliance on foreign oil and forge ahead to discover and cultivate alternative energy resources. Because such technology would profoundly impact both the immediate and long-term future of our country and the rest of the world, those who are seeking to discover solutions are privileged to an immense amount of support, especially from the American government. The opportunity is there for the taking, and this is far from the only opportunity of its magnitude. The list, I am sure, is endless.

Is entrepreneurship for everybody? No, nothing ever is. Becoming an entrepreneur does not necessarily require high intelligence or great initial wealth. But if you feel that willingness and drive to be an innovator and understand that there will be risk involved, than you may be the next great entrepreneur on the horizon.

Here are few things to think about if you are considering the path of entrepreneurship. First, you must ask yourself some tough questions: Am I willing to create the time necessary to establish a business, even if it means taking time away from my family and activities that I enjoy? Am I really motivated enough to stick with this? Will I really be able to make tough decisions when confronted with them? Is this the life I really want?
If you can affirmatively answer the preceding questions with confidence, then proceed by taking a few first steps:

• Construct a plan. Entering the game without a strategy or a game plan is an almost certain setup for failure. Structure and development when building a business are vital. There are proper steps that one can take to increase the probability of success. Write a business plan. If you have never written one, than seek out someone or some organization that has.

• Ensure that your endeavor will be adequately funded. It takes venture capital to start virtually any business. Be realistic; if your ambitions are big, you must consider investor money. If you determine that this is not desirable or doable in your situation, you may have to consider starting smaller by establishing a home-based business and eventually moving on to bigger and better things. One of the greatest slayers of the supportability of new businesses is undercapitalization, or simply trying to grow too fast. Avoiding this pitfall should be a primary purpose of your initial business plan.

• Evaluate your strengths and weaknesses. Understand and accept your limitations. Despite how qualified and talented you may be, no one can do it all. Reach out for assistance in the areas in which you think may need a little more expertise than you alone possess.

• Maintain your level of determination and build perseverance. Do not give up. You must never allow yourself to have a defeatist attitude. You must believe that you can and will do whatever is both necessary and ethical in order to reach your goal. There will be ups and downs, and the ride will be bumpy at times. Only those with a burning desire to make it will do so.

• Socialize with positive, successful people. There will always be the naysayers that will tell you it is impossible and encourage you to give up. You will need the support of those around you who remind you that you can, and the guidance of those who have achieved their own success.

Entrepreneurship has always been the American way. The impact that entrepreneurs have had and the impact that they will continue to have on our society is immeasurable. It has molded our culture and given it defining characteristics, and entrepreneurship will continue to influence our society well into the future—that much is certain. The question you must ask yourself is whether or not you want to play a part.