This paper examines entrepreneurship as both a marketing philosophy and a practical business orientation in the 21st-century global economy. Drawing on the concept's French origins and its connection to innovation, risk, and growth, the paper argues that entrepreneurial thinking extends beyond business into psychology, education, and social science. The author reflects on personal background in military leadership and evaluates three potential business ventures: a beauty supply store, a gentlemen's cigar club, and a dental clinic. Each idea is assessed through demographic, competitive, and financial lenses. The paper concludes with a broader vision of systems thinking, ethics, and global cooperation as drivers of the next wave of entrepreneurialism.
Trends in globalism, stakeholder knowledge, and technology — all part of the 21st-century environment — have changed marketing from a monolithic approach to the market into a model that has actually been in place for centuries, yet has now found a way to move from the small business environment into the larger organizational model. This shift has occurred precisely because its strengths are exactly what is needed to perform in a new environment. This concept, entrepreneurship, has its origins in the French verb entreprendre, meaning "to undertake" (Hultman et al., 2011). In a sense, every organizational idea starts with a core concept and thus carries some entrepreneurial tendencies. These ideas share a fundamental relationship in that they require innovation and risk in order to come to fruition — that is, to achieve economic gain.
More than anything else, the idea of entrepreneurship is a mindset — a mode of operating as opposed to a strict method, a style of thinking. It represents the difference between management and leadership, and the degree of tenacity necessary to successfully complete a project. From the Western model, entrepreneurship is about growth opportunities, motivation, and a style of approaching the impossible to make it possible. Indeed, the very nature of capitalism and modern growth depends on culture, economic conditions, and, essentially, the idea of risk versus reward (Foreman-Peck & Zhou, 2010).
In the 21st-century global culture, hyperactive competitiveness, rising expectations, advancing technology, and increased buying power all contribute to marketing-as-entrepreneurship by driving job creation and method integration that allows forward momentum. This activity tends to result in new types of organizations, new products, new services, and a revitalization of older business units and ideas. Marketing as entrepreneurship does not exist simply as a business activity; it is instead a multidimensional source of innovation and inspiration that transfers from business into psychology, engineering and re-engineering, organizational theory, the social sciences, and even education. This phenomenon is so pervasive in the 21st century that some scholars now view marketing as entrepreneurship as the core basis of a successful economy, driving growth (Audretsch, 2007).
Having served in the Army, my training in leadership, customer service, time management, and organization has proven extremely valuable and appropriate for taking on an entrepreneurial venture. When thinking about personal entrepreneurial possibilities, three major ideas emerge that — depending on location and demographics — would be both intellectually and emotionally satisfying, while offering a high degree of personal growth and a way to proactively engage with people.
The appeal of opening a beauty supply store is twofold. First, the customer base extends beyond cosmetologists to the general public seeking higher-end products. Rather than relying on a single draw for foot traffic, there is a broader customer base to serve. The U.S. Bureau of Labor estimated at least 1.2 million cosmetology jobs, with 20% growth expected throughout the decade — each representing a potential customer. Barriers to entry are relatively low: a decent-traffic location, adequate shelf space, and sufficient capital to appropriately stock the shelves are the primary requirements.
To market the business, one would need to network with surrounding salons by potentially providing delivery and bulk discounts, identify ways to carry their most-needed materials, and build operating hours around salon schedules so that owners and stylists can pick up products on their way to and from work. The key will be thorough market research to identify the number of existing supply stores, their service areas, and potential market share. One strong possibility is to locate in areas with strong consumer growth but few existing suppliers (Smith, 2012).
"Cigar lounge business model and target market"
"Dental practice startup with demographic targeting"
"Ethics, global cooperation, and entrepreneurial society"
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