The history of Entrepreneurship and how we can use history in business

The first signs of entrepreneurship

The first appearance of entrepreneurs dates back many years ago when people exchanged useful raw materials for ready-made tools. They bartered food, leather and other necessities.

They sourced the materials and traded them within the tribe. There was no money exchange or commerce yet, it was a pure exchange for survival, with a pinch of specialization.

Source BBC

After the agricultural revolution 12000 years ago, people started to specialize more on specific goods. They started domesticating animals and plants, exchanging what they have produced for things they couldn't make themselves.

Examples of the specific forms of entrepreneurs and the first professions were Fishermen, Toolmakers, Hunters, Cooks, Gatherers, Homebuilders, Tailors, Shamans.

All over the world, a trend of specialization started, according to the status of the different civilisations.

First professions and specialization

Long-distance trade

After cities' appearance around livable locations like riversides, people started to exchange goods between the different cities. The merchants or the head of the families travelled long distances to make their trade.

Commerce made it possible to access a wider range of products. People explored lands, languages, acquired products that they could never produce, and got to know other cultures.

Once they developed money, this history-changing tool became the most important way of exchange. Money made trade comfortable and simple. People could start to collect savings and acquire wealth.

Source: Orobel

Early funding opportunities

In the 15th-century, the banking systems developed. The banks made it possible to borrow money and start a business even if you didn't have enough capital. Men borrowed money to by land or corns or tools.

Entrepreneurs started to work together in groups to support and protect each other; unions appeared. Many people in business combined their products and services to create something unique. This way, they were able to sell them with a higher margin.

Banking systems, Source Fact/Myth

"Early on in the history of capitalism, the idea of monetary gain was shunned and shamed by many. The practice of usury, charging interest on loans, was banned by the Christian Church.

Jobs were assigned by tradition and caste. Innovation was stifled, and efficiency was forcefully put down, sometimes punishable by death. In sixteenth-century England, when mass production in the weaving industry first came about, the guildsmen protested.

The King outlawed an efficient workshop containing two hundred looms and butchers and bakers for the workers under the pretence that such efficiency reduced the number of available jobs."

Source: StartupGuide

Merchants based wealth systems

A structure based on collected wealth developed. The system valued countries upon how much wealth they could acquire: like gold and exported goods.

Merchants and explorers like Kolumbus gained significant influence, despite the cruelty of how it happened, this was a turning point in the history of humankind.

Kolumbus leaving for a venture Source Wikimedia commons

"A man who permits his self-interest to run away with him will find that competitors have slipped in to take his trade away; if he charges too much for his wares or if he refuses to pay as much as everybody else for his workers, he will find himself without buyers in the one case and employees in the other."

Source The Worldly Philosophers

Mass production and new ways of transportation

From the 18th century, mass production in big cities gained momentum; electricity made it possible to build huge factories and introduce easier production processes. Many moved to the cities to find their fortune; the workforce wasn't a problem anymore.

Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton, was a European entrepreneur who helped design the first modern car Source Wikipedia.

Globalization

From WWII globalization got into the picture, people needed roads that made it possible to reach different countries faster. Next to these roads, the first restaurants appeared to feed the travellers on the way.

Burma road built during WWII Source: dangerousroads.org

Digitalization

Today we have a powerful tool called digitalization, which means no borders, infinite and unprecedented opportunities and much competition. Some say it is the beginning of a new rea, just like the industrial revolution. The money system is changing, and culture is changing, art is moving digital.

Source Web-strategist

In the 21st century, new types of entrepreneurship emerged, focusing on social impact, the way how we do business is developing, mastermind groups and global networks are forming. You can also venture as an employee by becoming an intrapreneur and enjoy the company's support and facilities. Many companies will employ you while trying your wings as an entrepreneur building your dream within a company.

Exercise:

Following history can help us to practice seeing patterns, read a bit of history about your industry and try to recognize specific cycles and designs, it will help you to identify trends and come up with new ideas.

In this video, I will explain the history of entrepreneurship:

Personal message: This article is not a one-time publication. I know we all struggle, and I want to support you. Strategizing, summarizing information and encouraging people is my forte. I try my best to keep you engaged with articles, assignments, exercises, videos, infographics, and more so that we can all get through this period with less stress and frustration.

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About me:

Hungarian Dancing Economist Brand strategist living in SEA

I mentor, coach, empower and inspire individuals from all walks of life to take back control over their lives by creating their personal brand. I inspire people to reach their highest potential and maximize their resilience by using physical and theoretical exercises.

I encourage people to earn a living that fulfils them personally and professionally. I am a master life coach, a personal development coach, and a personal branding expert.

“I am a born opportunity taker. I love challenges. I believe it is vital today to brand yourself to be able to stand out from the crowd. I work and live for my passion, to help people to create their own brand identity. I do what I love the most. I am an advocate of personal branding.

My motto is: Dare to dance your way!”

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