While many employees are content with the security of traditional paths to employment, avoiding the inherent risks and uncertainties that come with starting your own business, those with an entrepreneurial spirit embrace an entirely different approach to work.
This spirit, which is more interested in blazing a new trail than following an old one, is very much alive today, as 93% of Gen Zers have taken a step toward exploring business ownership, 75% ultimately want to become entrepreneurs, and 55% of other adults in the U.S. have started at least one business in their lifetime.
If you think you possess this entrepreneurial spirit and want to take it to a more actionable level, find out more about it and how you can use it to take your career to the next level.
What is Entrepreneurial Spirit?
The entrepreneurial spirit is a way of thinking that pursues change rather than waiting for it, and using it as an intrinsic motivation to drive innovation and broaden the boundaries of business. This spirit is not limited to those who start their own businesses. It can also be found in individuals within organizations, small businesses, or 9-5 jobs who tend to take initiative, think creatively, and seek out opportunities for growth and improvement.
People with an entrepreneurial spirit are more likely to be their own boss, which, according to Forbes, includes 62% of Americans. It allows business owners to run their companies the best way they see fit and creates a flexible schedule to align with the personal and professional lifestyle they desire.
Entrepreneurial Spirit Examples
The entrepreneurial spirit includes a collection of traits that set those in the workforce apart, driving them to overcome challenges and turn visions into reality. Whether you work at a large corporation or a small business, you may have many of these character traits. Here are 6 of them which are common to those who find great success in business.
1. Passion
Individuals, regardless of their professional path, can harbor an inner enthusiasm and drive that propels them toward personal goals and ultimate aspirations. This passion is the motivation that fuels their work ethic, inspires others, and serves as the engine that powers their pursuit of success. From the Latin word, “passio,” which means to endure or suffer, passionate people willfully overcome and even sacrifice for a cause, product, or business.
2. Persistence
Entrepreneurs are no strangers to setbacks and rejection. They often motivate and sharpen skills and character to fuel people to eventually succeed. Persistence is a defining trait that keeps people moving forward, even in the face of seemingly impossible challenges. It's the tenacity that weathers storms, learns from failures, and keeps pushing towards goals, regardless of the roadblock that is faced.
3. Risk Taking
Those with an entrepreneurial spirit are predisposed to a high tolerance for risk. As with persistence, which can overcome setbacks, facing risks often motivates business owners, who are prone to take on new challenges, try new methods, and welcome new experiences. Risk-taking entrepreneurs are not afraid to step into the unknown, embracing calculated risks as opportunities for growth and innovation because they see the reward beyond the risk and the victory through the obstacle.
4. Continuous Improvement
True entrepreneurs are committed to continuous self-improvement, staying informed about industry trends, acquiring new skills to stay ahead in a rapidly evolving landscape, and taking advantage of every learning opportunity and resource they face. Not easily satisfied or content with day-to-day routines, continuous improvers constantly question why something is done in such a way and look for ways to make it better.
5. Embracing Failure
Failure is not a roadblock but a stepping stone for those with an entrepreneurial spirit. They view failure as an opportunity to learn, adapt, and grow. Realizing that often the difference between ultimate success and failure isn’t intelligence, finances, luck, or connections, but has more to do with simply overcoming failure until you’ve mastered them, business owners who find the success they yearn to know that failure isn’t final and it’s not a person, but only a momentary bump along the road.
6. Proactiveness
The entrepreneurial spirit is synonymous with action. Entrepreneurs are proactive doers, taking the initiative to bring their ideas to life. Instead of waiting for opportunities, they actively seek them out, driving change and progress. Proactive people are those who likely do a lot of preparatory market research, know as much about the business landscape as they can, and create a solid, comprehensive business plan before opening a franchise This helps them start their business with the knowledge, direction, and confidence to ensure success.
How to Grow Your Entrepreneurial Spirit
Although some aspects of an entrepreneurial spirit may seem innate, it’s possible to grow your inner sense of drive. To fuel your entrepreneurial spirit, tap into your passions and identify what motivates you. Ask yourself, “What am I passionate about? What excites me? For what will I sacrifice greatly?”
If you have an entrepreneurial spirit that is ready to break free and are looking for a change from your 9-5, Neighborly® has many home services franchise brands that offer a pathway to entrepreneurial fulfillment. With the many opportunities at Neighborly, you receive a tested business model, operational resources, and a supportive network to help make your business ownership goals a reality.
Take this quiz today to explore which industries can help you take your entrepreneurial spirit to the next level.
