Of the very diverse stimulants and motives
for entrepreneurship, the need for money or
personal job creation have been two very eminent
determinants. In an economy like the Egyptian
one, the number of individuals looking for more
income or for job opportunities has been on the
rise. Not only there is a significant level of
unemployment, but also those who have had a
decent job in the past have become in need to
increase their incomes in response to inflation.
Is entrepreneurship a solution?
Definitely! Aside from social enterprises, people
engage in entrepreneurship primarily to make
profits. Even those of us who have a job are now
considering a side business. Why not open a
restaurant? Maybe engage in some brokering or
trade activities? Start a tech app with a friend?
An endless list of options and ideas we bring up everyday.Sadly, they don’t grow further than being ideas because of resources.People never develop their
ideas and exploit the opportunities they identify
because they find themselves short of one or
more resources. Sometimes money, other times
knowledge or connections or maybe distribution
channels and physical locations. The list goes on
How can effectuation help?
It might not be the best of scenarios, but in times
of need and uncertainty, it’s better to dwell upon
what you have and can control, rather than what
you want. It is safer and more practical to try and
predict the future rather than create it. In times of
uncertainty, advice is to not think «backwards.»
Don’t think what do you want to do and then work
on acquiring the resources. Rather think on what
current resources you have, how can you utilize
them and how can these resources help you fill in
gaps in the market or match with a target market
demand. Steve jobs predicted people’s needs for
smartphones and the abundance of an opportunity.
He didn’t invent the I phone nor develop it in a lab from scratch. He utilized his network and available resources, went out to the tech industry and«prepared the meal» with the given resources and knowledge. Most technologies in your I phone were not developed by apple, they were out there and were only licensed and brought together.
When in need think of what you can do, not what you should do. Start a business with the available resources. You never know, it might get you the resources to do what you wanted to do in the future. Take action, as you cannot win the lottery without buying a lottery ticket. You may not be able to control the winds, but you can control the sails.