Paradox of Entrepreneurship 2


In the previous posting we considered two paradoxes on entrepreneurship. Today we take a look at two more.
Paradox 3: To create and build wealth, one must relinquish wealth. It is critical to understand that wealth is created through the principle of seed. You sow a seed to have a harvest. You expend some energy in order to produce a result. To build wealth one has to give up some seed capital. There is no business that does not require an investment of time and money. The only difference is that some wealth creating systems require less monetary investment and more time and effort investment. The other way to view this paradox is that in order to pursue one wealth creating opportunity you have to give up another opportunity that may be equally potentially viable. Not many people can successfully pursue many entrepreneurial opportunities at the same time. There is thus an opportunity cost involved in relinquishing some wealth opportunities for the one you ultimately pursue. In other words one needs to focus on the opportunity at hand. Many do not understand this principle and so pursue their opportunity half heartedly while looking around for other alternatives. Entrepreneurship requires commitment to pursue the one opportunity and abandon other potentially good ideas until this opportunity releases its harvest. So you relinquish wealth in order to pursue wealth. In some cases you may need to relinquish the wealth of your current career and stable job in order to pursue wealth within an entrepreneurial setting. However if you opt to go this route it is better to start a second income stream while still at your current job. There are multitudes of second income opportunities online as well as work at home opportunities that can be exploited like this.
Paradox 4: Entrepreneurship requires considerable thought, preparation, and planning, yet is basically an unplannable event. Many times we can plan and work our plans in order to achieve our dreams. But sometimes entrepreneurship is a result of “divine coincidence.” One can plan for ever and never get the opening break to launch while someone can just happen on a ripe opportunity. So in effect entrepreneurship is more a mindset ready to identify and exploit an opportunity that suddenly presents itself. I know a colleague who went to buy a fitted kitchen and was treated badly by the staff of a renowned fitted kitchen company. She was so insulted that the bad experience inspired her to realise that the arrogance of this company was due to lack of competition. It also made her realise that if she has been handled this badly there should be many disgruntled customers who were also treated like this who are looking for alternatives. She went out and without experience started her own fitted kitchen company which has give the original company a run for its money. She has done very well. This opportunity was really unplanned. So in a sense we can say that we need to be ready for the opportunity when it suddenly appears. As someone once said, “Opportunities of a lifetime should be seized and exploited during the lifetime of the opportunity”. We can therefore conclude that entrepreneurship is the art of planning for the unplannable opportunity.
To recap: To create and build wealth, one must relinquish wealth. Entrepreneurship requires considerable thought, preparation, and planning, yet is basically an unplannable event.

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