Can Entrepreneurs Create Jobs During a Recession?

There are many books and articles that explain how an economy grows, how it works and why it can fail. Entrepreneurship has been the driving force behind our economic system for over two centuries, yet many people don’t fully understand how the economy is created and sustained. In “The Road Ahead: Creating an Economy of Learning and Growth”, Jack Collins and Seth Godin provide new insights into creating an innovative economy. Here are some key tips from the book:

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Can Entrepreneurs Create Jobs During a Recession?

There are many books and articles that explain how an economy grows, how it works and why it can fail. Entrepreneurship has been the driving force behind our economic system for over two centuries, yet many people don’t fully understand how the economy is created and sustained. In “The Road Ahead: Creating an Economy of Learning and Growth”, Jack Collins and Seth Godin provide new insights into creating an innovative economy. Here are some key tips from the book:

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First, define entrepreneur and what it means. As defined by Collins and Godin, entrepreneur is “a person who uses his personal physical resources, such as time, talent, knowledge, skills, and money, in order to produce and promote an original product or service.” Next, identify five key benefits to entrepreneurship. These include having the freedom to pursue personal passions and dreams, creating jobs or working with other like-minded individuals, experiencing financial security, providing for yourself and your family, and being your own boss. The next tip identifies why many people fail in entrepreneurship: they do not have a clear vision or plan.

Another important tip in “The Road Ahead: Creating an Entrepreneurial Economy” is to look at the” entrepreneurial mindset.” According to Collins and Godin, “the entrepreneurial mindset is the ideal combination of intellectual, social, psychological, emotional and physical energy that motivates people to take risks, develop ideas, seek expansion, and bring to bear on their lives the full consequences of those ideas.” Just as there are many people who are not successful at entrepreneurship, so too are there many who are successful entrepreneurs. The key to becoming an entrepreneur is to take responsibility for your actions, take ownership of your failures, and learn from your successes. The book also offers a number of online entrepreneurship tips, which include: Starting a blog, selling items online, launching your own website, setting up informational websites, and using blogs and word of mouth to promote your business. Other valuable online tips include: Avoiding a negative lifestyle, staying positive, maintaining healthy habits, establishing goals, and using free will.

Finally, consider the fifth and final “Economy Entrepreneurs” tip: identifying your “vibes,” or what your online friends refer to when they reference you. In this regard, entrepreneurs may view entrepreneurship as a means of providing social interaction, sharing, or community. The Internet has made this easier than ever. As a social network, the Internet has a number of important online entrepreneurs: bloggers, podcasters, Internet marketers, copywriters, and more.

The entrepreneurship and online culture of the Internet are changing the face of business. The Internet entrepreneur definition continues to evolve, just as the entrepreneurial definition has changed. Today’s Internet entrepreneur may be a landscaper, a computer programmer, a writer, or an Internet marketer. Each of these entrepreneurs brings something unique to the table.

This is just one description of how entrepreneurship works. It may also mean “discipline, application, and problem-solving ability.” In other words, it describes someone who is resourceful, creative, and uses their imagination to bring solutions to problems.

This article is just one piece of the “Economist” series on entrepreneurship and the economy. Read more about it at economy blogs. The series continues with “When In Doubt, embrace failure.” Additionally, “Entrepreneurism is one piece of the economic puzzle that creates a vibrant US economy.” Additionally, learn about other great entrepreneur quotes on our dedicated entrepreneurship page.

While the recession is officially over and the recovery period is still a few months away, I’ve found that being resourceful and creative in business is an effective way to recover. That doesn’t mean you should abandon your goals, but it does mean that you need to be realistic. And remember, for most entrepreneurs, failure is not an option. It’s not something that can be avoided. If you’re finding it difficult to get started or are finding it difficult to follow through with your business venture, why not consider using the services of a virtual assistant? A virtual assistant offers flexible work hours, professional business skills, and the ability to set your own pace – making it easier than ever before to start a home based business while suffering through the recession in the process.

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