Reinventing the Entrepreneurial Journey
Reinventing the Entrepreneurial Journey
Join Adam Wolcott, Lecturer at University of Tennessee at Chattanooga, as he discusses how innovation, specifically technology, has impacted the activity of entrepreneurship itself. Learn how who we are as individuals—our skills, resources, intentions, and commitments—impact the success of our ideas.
October 28th, 2022
Watch the full webinar in the video above, or read the recap below.
INTERGENERATIONAL ENTREPRENEURSHIP
Adam Wolcott’s belief in the power of entrepreneurship stems from his grandfather’s success in the trucking industry. After learning about the business from a very young age, Adam learned the humble beginnings of the company. His grandfather—”Poppy”—worked two jobs for over five years to earn enough money for his first truck. After marketing himself for almost three more years, Poppy acquired his first customer. During the process of differentiating himself from the competition, Poppy brought about an ingenious piece of marketing—a stainless steel “S” fastened upon the grill of every truck. Now, that company is responsible for the bulk of site excavation and landscaping within the state of New York.
TECHNOLOGICAL PROGRESS & ENTREPRENEURSHIP
Adam Wolcott likened the journey of his grandfather to ascending Mt. Everest—the time, effort, and resources poured into the company were incredible; especially considering the inherent risk that was involved. Entrepreneurship has changed with the 21st century, however. Adam highlights the importance of technology in the shifting landscape of entrepreneurship. We are capable of shortening entrepreneurial journeys from five to seven years to five to seven days, due to technological advances in funding, networking, marketing, etc. In other words, the barrier to entrepreneurship is considerably lower in the modern era.
SOCIAL PROGRESS & ENTREPRENEURSHIP
Entrepreneurship has progressed in the modern sociopolitical climate, as well. According to several newfound statistics, the entrepreneurial workforce has shifted in favor of diversity:
The average age of entrepreneurs has shifted from 45 to 23.
Some countries are reporting higher business ownership by women than men.
Over 50% of newly-registered businesses are minority-owned.
With the advent of modern-day entrepreneurial tactics, anyone can be part of the growing world of entrepreneurship. If you have an idea or a solution to a problem, you can start to test it. According to Adam Wolcott, there is no better time than now.
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