Role of Entrepreneurship In the 20th century, technological development is on its peak. Things such as smartphones and tablet-cum-laptops, which didn’t even exist 15 years, have become necessities now. But these things didn’t come to exist themselves; there was someone who identified the need and then took the risk of developing these things.
In other words, an entrepreneur is a risk-taker. An example of this is Steve Jobs, the founder of Apple Inc. – the company which introduced the first touchscreen phone known as iPhone. Technically, touchscreen phones had been introduced in the market earlier, but they were not so successful and hence not remembered by many. This makes Jobs a perfect example of not only an entrepreneur but a successful one.
So who makes a good entrepreneur?
Not everyone possesses the skill of entrepreneurship. A good entrepreneur is a mixture of many factors, mainly a unique idea, good leadership skills and a risk-taking ability. Even if the idea is not unique, you should be able to build a unique perception about your product and create a hype in the market, just like Apple did. Although there were many people who played an integral role in the success of Apple, the main idea belonged to one person – Steve Jobs. He took a risk; he did not know whether his idea will be successful or not, but he was confident and that confidence made him one of the most successful entrepreneurs of this century. Without him, we wouldn’t have been blessed with one of the greatest innovations of history – as many people call it.
It is important to note here that we are talking about technological development. Thus, an entrepreneur in this field needs to have some technical knowledge too. That doesn’t necessarily mean that one needs to have a degree in such a field; it simply means that the risk taker should know about what he is getting himself into!
Apart from Steve Jobs, here are some entrepreneurs without whom technological development wouldn’t have reached this stage:
1) Charles Ranlett Flint
Charles Ranlett Flint is the founder of Internationa Business Machines (IBM). Founded in 1911, IBM is one of the world’s leading IT companies. It manufactures hardware & software and is also a leading research and development organization in the IT industry. Apart from this, IBM is responsible for inventing of many technologies, such as ATMs, hard disk drives, and magnetic stripe cards – things which have made our day-to-day lives significantly easier. It can be said that without Charles Ranlett Flint, we would still be carrying bags full of cash and storing our data in hardware that occupy the whole room!
2) Bill Gates
Bill Gates is one of the most famous entrepreneurs of our era. Co-founder of the world’s largest PC software company, Microsoft, Gates was one of the defining figures of the personal computer revolution. Gates showed an interest in computer programming at a very young age, spending all of his free time creating programs on the teletype terminal computer his school had donated. Gates went on to create Microsoft and develop the Windows operating system, which continues to be tremendously popular.
3) George Devol
The first real industrial robot was built in 1954 by George Devol. Five years later, the Massachusetts Institute of Technology founded its Artificial Intelligence Laboratory in a quest to mechanically mimic human minds as well as hands. Robots are used in many production processes, mainly for assembling purposes. Apart from this, they are used in hospitals as well (even during surgeries!). Not only are they cheaper than manual labor, they also provide more precision. Robots are used at airports too as many services are provided with the superhuman assistance of advanced software.
4) Thomas Edison
There is no doubt that Edison was brilliant, but it’s his business sense, not his talent as an inventor, that clearly shows his intelligence. Edison took innovation and made it the process now known as research and development. He sold his services to many other companies before striking out on his own to create most of the electrical power infrastructure of the United States. While Edison is a founder of General Electric, many companies today owe their existence to him – Edison Electric, Con Edison and so on.
5) Sergey Brin
Sergey Brin is the co-founder of Google, the world’s largest search engine. He is currently the CEO of Alphabet, the parent company of Google. It is one of the most amazing inventions of this century. With Google, all information – related to any field – is only a click away. Google assists both individuals and businesses in different ways. It suffices to say that without it, we would probably be spending hours in the library, looking for the information we need!
Inspired? Well, we are too! Who knows, there might be an entrepreneur hidden inside you as well. To help you discover it, we have some tips for you:
Firstly, you should be confident about your idea. Be firm and don’t indulge yourself in thinking too much about its cons or failure. Bill Gates wouldn’t have dropped out of college if he wasn’t confident about his idea. Apart from this, build a team that shares your vision. The concept of one man army doesn’t apply here; behind every successful entrepreneur, there is a team working tirelessly behind the curtains! Furthermore, look up to the right people for inspiration and put your faith in a trusted mentor.