The Three Models of Entrepreneurship
Entrepreneurship takes various forms, depending on the motive of the operator. However, the forms are in three broad categories — classic, social, and spiritual.
Classic Entrepreneurship
This is a natural or customary way to do business. The pattern was set since the dawn of modern capitalism.
Concisely, the focus is on making as much money as possible; business is business, nothing else. And, it’s all about accumulating wealth for the sake of wealth, to boost one’s ego.
But, what follows is emptiness, even in the midst of all the money! There’s never satisfaction.
Social Entrepreneurship
This is a relatively new model, and it’s yet to prove its worth of a money-maker. The model aims at making the world a better place in some way and equally, tries to make money along the way.
Nonetheless, charity is confused with business. In that, the entrepreneur aims at making money out of doing things for the society. An example is the Grameen Bank in Bangladesh. It has influenced many rural poor economically, but runs on donations (though registered as a business company). It won a Nobel Peace Prize award in 2006, but proved it is a money-losing company. It lost over $650m in its 30 years of existence (as at 2013), according to Levi Brackman.
Notwithstanding, social entrepreneurship has a laudable goal. But, it’s yet to prove that it is the proper vehicle for attaining social goals. And yet to show that, it’s a medium to really make money.
Spiritual Entrepreneurship
This is a model for making money, applying divine principles. It’s very different from social entrepreneurship, both in form and in function.
Actually, the spiritual entrepreneur makes money out of any profitable enterprise that is legal and ethical. He uses the money to improve the world in the manner he believes to be God’s purpose for the world.
Most importantly, the spiritual entrepreneur sees business as a means to serve God better. And, giving is his motivation for making money.
The benefits of this model include:
- By applying divine principles in his business, he’s connected to God, the Supplier.
- He is blessed the more because giving is his motivation for making money.
- He receives great vision continually, and innovation on what business is really about. To him, business is a means of making money to serve others better.
- Making money becomes enjoyable and fruitful.
- His business organisation becomes his personal place of worship.
What About Philanthropists ?
Philanthropists are generous givers, but not necessarily spiritual entrepreneurs. Prominent among those who make giving their motivation for making money include:
- Sir Mobolaji Bank-Anthony — He sold his stocks to donate an ultra-modern ward at a Lagos State government hospital.
- Michael Dell, of Dell computer company, gave over $1.1 billion to charity.
- Gordon Moore, co-founder of Intel, committed $5 billion (77% of his assets) to humanitarian causes.
Summary
Making good money is important but what is done with the money is by far more important. If we choose to work with God, then our money and energy would be directed at making the world better to God’s glory.
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