The Fundamentals of Entrepreneurship: The American Dream

I have always been fascinated by the concept of the â€Å"American Dream†. Even if, nowadays, this concept is more and more criticize because some people believe that the structure of American society doesn’t follow anymore the idealistic goal of the â€Å"American Dream†, providing example such as inequality in class or race which suggest that the â€Å"American Dream† is not attainable for all. But to me the term â€Å"American Dream† stays unchanged: all people can succeed through hard work, and all people have the potential to live happy and successful lives. And in my mind, the entrepreneurship is one of the most famous way to achieve this â€Å"American Dream†. Steven BUYERS who is the founder and owner of EnergyLogic –a fast-growing company in Northern Colorado, appears to me as a very good example of this â€Å"American Dream† which is about hope and the potential for change. In fact, I feel this at the same time through the very innovative and sustainable development oriented concept of his company, and the take of initiative he seems able to show without having a precise idea of where it will lead him. In this paper, I’m going to discuss two major topics which seems relevant to me given Steven BUYERS’ experience, they are: the self-made man and the capacity to see opportunity. Self-made man The first thing I would like to precise is about the vision I have of a self-made man. Obviously when I use this term I’m not saying that Steven BUYERS is the only one responsible of the success of his company, because it would mean that nobody have accompanied him in this project and it wouldn’t be fair not to think about his employees or his wife who has apparently plays a huge role in his success. But I rather mean that he had managed to create and manage a success business starting from like nothing. The concept of the self-made man is necessarily connected with the â€Å"American dream† that I have mentioned before. The self-made man comes from unpromising circumstances, is not born into privilege and wealth, and manages to become a great success in life by his own efforts. The story of the self-made man embodies the goal of every man: â€Å"to become the captain of his own destiny. Actually this is really close to the reasons that people become entrepreneurs and starts their own firms, that is to say: â€Å"be their own boss, pursue their own ideas and pursue financial rewards. † A self-made man is anyone who attains far greater success which was not predictable. The background that Steven BUYERS told us about isn’t exactly what we can call a â€Å"predestinated background†. Indeed, he went through many different jobs and life’s experiences (from the army to a bookstore) before he found his way which tends to prove us that he is one of whose are able to create their own greatness. Finally I would say that being a self-made man, as being an entrepreneurship, is the result of a difference in your character and a willingness to do whatever it takes to be the best and achieve your dreams, just as the concessions made by Steven BUYERS at the beginning of his project. Capacity to see opportunity â€Å"An opportunity is a favorable set of circumstances that creates a need for a new product, service or business. † When we know that homes represent 20% of the energy use in USA –whereas transport â€Å"only† represents 27%, it appears logical to focus on this problem. But at the time that Steven BUYERS started his business, that is to say in 1998, nobody cared about saving energy. He came with this really simple question: â€Å"How to be more efficient with houses’ energy? †, and his project was to provide people with a solution. As far as the opportunity recognition is concerned, Steven BUYERS has done a really good job. Indeed, he identified a product/service that people need and are willing to buy. Everybody isn’t able to see opportunity, because opportunity isn’t just an idea you come with thinking it could work. And this is a crucial point which will determine if the business is going to work, or not. An opportunity has to perform four essential qualities: attractive, durable, timely and anchored to a product. That was the case for Steven’s idea. It was attractive because it allows people to save money; it was durable because it lasts a life-time; it was timely because sustainable development was beginning to develop; and finally it was anchored to a product because it deals with houses and isolation. What is even more impressive in this recognition of opportunity is that Steven BUYERS hasn’t done any real market study or business plan before launching his company. To me the way to identify an opportunity which fit the best to Steven BUYERS is the personal characteristics of entrepreneur. This capacity to see opportunity is an essential trait in my mind which is related to creativity. To conclude I would cite the philosopher Ralph Waldo Emerson: â€Å"Do not go where the path may lead, go instead where there is no path and leave a trail. † Being an entrepreneur means being able to go where nobody else went before you, being able to take risks, being able to see opportunities where nobody has looked before you†¦ In my mind there is different ways to succeed in your job. Steven BUYERS succeed by seeing opportunities and managing his own success story as many self-made men have done before him. But no matter what is your background as far as you take your chance to develop successfully your business idea. Unfortunately, nowadays, entrepreneurs are more and more assimilated to capitalism and all the unfairness it can raise. As a result, famous self-made men such as Rockefeller are not as well-recognized as they were in the past –and sometimes even criticized. So we can wonder if the â€Å"American Dream† is still an example to follow or a goal to reach for the majority of American people.