A Catalytic Genesis

      As some, if not all, knows, economics is the science of production, trade and consumption of goods and services. The economy of a state is defined by the rising and falling of the nation's resources as well as funds. Commerce have been made flexible and is the predominant cause for economic growth. This leads to business and other entrepreneurial acts becoming a catalyst of success in one's economy. As entrepreneurship is not just having a business, but more so being finesse in seeking opportunity to breakthrough certain predicaments. Joseph Schumpeter (1934), an economist, also stated that the backbone of economy are the entreprenuers who find joy and self-fulfillment in creating or producing goods, as well as those who have the strong need for achievement. Developing an entrepreneurial mindset, therefore, is a catalytic genesis to subdue scarcity within nations in general.

     The focus of growth up to the global tier businesses is directed towards a science and technology-based, scalable and impactful entrepreneurship. Technopreneurship is a sophisticated advancement of no mere trading but the involvement of bigger high-tech corporations and thousands of propitious startups. This community is commonly coined as the Silicon Valley. As aforementioned, startups are propitious and at the same time a threat to existing businesses as these aim to disrupt current enterprices which tends to divert from the traditional commerce offering consumers more convenience; an opportunity to opt out of the hustle. Entrepreneurship once again play a big role in achieving this high-end innovated competition.

     The way to being an effective entreprenuer is as simple as surviving each day of one's life. This involves certain stages starting with (1) opportunity recognition and ideation. This stage promotes to look  beyond what is given, to recognize opportunities and formulate ideas out of the situation at hand. Simply, taking a calculated risk or so called a business venture. Ventures are launched to attain values; product-centric or service-centric. These values are directed towards and for the government, businesses, or the consumers. Phase two (2) is the idea generation wherein one needs to identify a point of pain or the needs of the target market in order to initiate a product or service. Testing the business model is a vital component to ensure monetization and business viability. Promoting one's venture can also be challenging yet the most substantial part. The three irritants (MADs) are basically identifiers upon creating a business. A missing, annoying, or disappointing  feature is the drive for entreprenuers to propose solutions which offers a win-win situation between the seller and consumer. However, as entrepreneurship does prominently begin in seeking opportunities, it does not necessarily follow a linear process. It is more complex and people oriented.

     All in all, entrepreneurs hold the future of the world as they are becoming more insatiable and diverse in terms of generating solutions from small to global hustles. They lead the march to a more innovative and futuristic  lifestyle.

      "You just have to pay attention to what people need and what has not been done." -Russel Simmons