I came across a unique thought today:
What if there were no entrepreneurs in the world today? What would the world look like?
As I began thinking of an apocalyptic earth where entrepreneurs disappeared off the face of the planet, the very qualities of entrepreneurs began to go missing along with them too. This though experiment highlighted for me the value of entrepreneurs in modern society today.
So here are 3 features that I think would be in an entrepreneur-less world:
1. The World Would Be Boring
The very first thought that came into mind was that the world would be a dull and lifeless place. Sure we would exist, but I think a large part of the human experience is the process of creation. Humans love to create things, and entrepreneurship is all about creating new products and services as well as building businesses.
Entrepreneurs, like myself, LOVE to create. They are creative.
Not only that, entrepreneurs enjoy pushing the boundaries of what’s already in existence. They innovate and many entrepreneurs really do change the world with their inventions and ideas.
A world without entrepreneurs would be dead boring in my opinion.
2. The Economy Would NOT Function
On a more practical level too, I think that the entire global economy (and even local economies) are built upon entrepreneurs and their spirit. The economy relies on businesses, which create jobs and which give people opportunities to live a productive life.
However, businesses are started up by entrepreneurs, and new businesses are consistently required in any economy. As the world unceasingly changes, new opporunities to create meaningful and worthwhile businesses are formed, and entrepreneurs are required to take advantage of these opportunities.
Without entrepreneurs, I see a world where the current mode of economy is defunct. Capitalism relies on entrepreneurs who are the total epitome of today’s modern capitalist – people who use capital to invest it in worthwhile goods and services for a profit.
3. More of the World’s Problems Would Remain Unsolved
The very reason why entrepreneurs are able to generate a profit is because they do provide value. Entrepreneurs who do not provide economic value will fail.
The value that entrepreneurs provide can be found in the way that their business must solve some human problem, whether great or small. Human beings will always face some problems. Some problems are basic necessities of human existence such as the need for shelter, food, clothing. Other problems are not so fundamental but the perceived problem can be enough for a person to want to find a solution. These sort of problems could be the need to be entertained or the desire to have a better lifestyle.
I see entrepreneurs as essentially problem-solvers. Entrepreneurs provide value through the solutions that they come up with via their business.
In a world without entrepreneurs, I envision a world where there are more human problems that are left unsolved. More people will be frustrated, bored, annoyed, or struggling to survive because entrepreneurs have not been there to come up with an adequate solution to the problem.
What Do You Think Would be Missing in an Entrepreneur-Less World?
These are the big 3 things that I think would be missing in a world without entrepreneurs. It seems like a sad, grim picture. Share your thoughts about how the world would look without entrepreneurs. Would the world be better or worse?