"Passion is key for anyone looking to start something new. It's not all you need, but it's a big part of what's necessary when you set out on your own. Finding the right balance of passion and realism is key."
Those are the words of Samuel Davidson, a blogger who appears to be at the cusp of Generation X and Y, and who has provided food for thought for this weblog before. I like him because he combines idealism with pragmatism. This weblog has talked about his 4 step process from dream to reality before."That's the thing about passion – it's always there with us. For some of us, we wear it on our sleeves and those who know us know that we're about something..."
"Because when you have a passion, you know it. And there's no way you can't not follow it." But passion is never all we need. It's the first thing you need during the early stages of start up, but it alone won't get you to the finish line. It may not even get you to step 2. As Robert Greenleaf so eloquently pointed out:"
"Not much happens without a dream. And for something great to happen, there must be a great dream. Behind every great achievement is a dreamer of great dreams. Much more than a dreamer is required to bring it to reality; but the dream must be there first."I am not quite as ready to accept his position on Schumpeter.
"Schumpeter was a very early advocate of entrepreneurship, believing that individual invention was what powered a capitalist economy, and not the role (or non-role) of the government. McCraw points out that while Schumpeter's ideas didn't immediately catch on in the first half of the 20th century, he now looks like a genius." McCraw writes:
"One of the hallmarks of Schumpeter's 1911 book is that he ventured into territory where no economist had gone before - namely, the psychology of entrepreneurs. Entrepreneurs, he insisted, are not propelled solely by a wish to grow rich or by any "motivation of the hedonist kind." Instead, they feel "the will to conquer: the impulse to fight, the prove oneself superior to others, to succeed for the sake, not of the fruits of success, but of success itself...There is the joy of creating, of getting things done, or simply of exercising one's energy and ingenuity.
As someone who identifies with Schumpeter's definition, I believe that the organizations and companies that will succeed in today's economy will be those that embrace entrepreneurship at every level.
While I can readily agree with, "There is the joy of creating, of getting things done, or simply of exercising one's energy and ingenuity" Schumpeter may be getting better press than he deserves because its a quick sell for the ideas people want to get across, but Schumpeter does not philosophically epitomize the ideals being expressed as he may seem on first look.
"The test of a first rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function."
We need to appreciate the effect of the destruction as well as the creation.