Entrepreneurship: More than just self-employment

Four years ago I wrote an article, “Wealth is a mindset, so is entrepreneurship”, which was published at The Jakarta Post. The gist of that piece was that an authentic and effective entrepreneur was not someone who just had a talent and ran with it. Neither was entrepreneurship about what you do or for whom. It stems from what you think of yourself.

We make assumptions about wealth. For instance, pursuing it means accumulating its symbols, such as money or assets. That’s a confi ning assumption. Being a wealthy person is actually about knowing what we can do and getting the most out of that capacity. When we think of wealth this way, we look for the most in ourselves and from ourselves and, like as not, end up achieving beyond what we thought was possible.

Now, four years on, entrepreneurship has become a viral idea, spreading to everyone it touches. But I am seeing some fundamental misunderstandings abut it, especially among young people. Mistakes happen when any fad spreads rapidly, so misunderstandings are, well, understandable. But addressing these misunderstandings is still a priority.

First, I want to set the record straight and warn the younger generation. All you newly employed college graduates, we don’t become entrepreneurs simply by leaving our current jobs or, for that matter, our present bosses. We can still behave entrepreneurially as a professional, even if we work for the government. In that setting entrepreneurship means contributing innovatively and creatively to the organizations we work for. Vision does not depend on the work place, it depends on care, hard work and positive thinking. I learned most of what I know now from the companies, both the small and the big, that hired me when I was fi rst out in the work force.

Second, many young people get inspired by legendary (and exceptional!) entrepreneurs who made it with little academic background. But instead of learning why these entrepreneurs are successful, we too often mistakenly focus on what they did not have, a good education.

The exception doesn’t make the rule, so education, when we can get a good one, is still the most important factor. Legendary entrepreneurs, such as Richard Branson or our own Pak Bob Sadino, say the same. Even though they didn’t hop through the schooling hoops, they were no less prepared than those with degrees, because they – this is crucial – never stopped learning. By the same token those who get the chance to study at top universities who are there just to get that piece of paper, not for the learning, are starving their own potential. Good education is a function of positive learning mindset and attitude, and schooling is the easiest toolkit for any budding entrepreneur to employ.

Next, entrepreneurship is not about earning to meet our needs; we do not live solely for ourselves. We live and work for the people we love and those who love us. I often see friends quit their jobs because they get tired of working for somebody else, and they lose the vision and purpose to give more and better for their family. That is selfish, unwise, and not what entrepreneurship is all about.

Entrepreneurship requires wisdom, not just blind intuition. It is not about being a richer man or woman but about becoming a better person, a better human being.

Lastly, entrepreneurship is the polar opposite of luck. You know luck, it’s the excuse that let’s us wait for our ship to come in, and the waiting makes us all the poorer. I like the old saying: “Luck happens to those who are most prepared when opportunity strikes”.

In the end, entrepreneurship is more about doing than about talking about doing. I want to share one take-away from my own experience as en entrepreneur: “If we aren’t having fun, we aren’t doing it right”.

Sandiaga Uno