Why We Should Value Entrepreneurs More!

In the 1920s, a journalist asked Thomas Edison how it felt to fail 1,000 times in his attempt to invent the incandescent lightbulb. Edison famously replied, "I didn't fail 1,000 times. The lightbulb was an invention with 1,000 steps." This attitude, viewing challenges as steps toward success, is at the heart of entrepreneurship. Edison wasn’t the first entrepreneur to encounter failure before success, and he won’t be the last.

Entrepreneurs often receive far less credit than they deserve, both in the broader business world and in society. They're seen as risk-takers, disruptors, and even as reckless at times. Yet, their contributions are essential. Steve Jobs famously, said…

“Here's to the crazy ones. The misfits, the rebels, the troublemakers, the round pegs in the square holes, the ones who see things differently. They're not fond of rules, and they have no respect for the status quo.”

From new technologies to cultural movements, entrepreneurs drive innovation and growth across industries. Here's why we should value entrepreneurs and why more businesses should consider hiring them.

The Misunderstood World of Entrepreneurs

Perceptions of Failure vs. Learning: Entrepreneurs like Edison and Steve Jobs viewed failure as learning. Every setback provides insight into what works and what doesn't. For entrepreneurs, failure is not an endpoint but a stepping stone. However, outside the entrepreneurial world, failure is often viewed negatively. Many corporate environments shy away from hiring entrepreneurs because their unconventional career paths are hard to quantify, making it difficult to measure success using traditional metrics like salaries or job titles. Entrepreneurs often reinvest their earnings into their ventures, forgoing salaries to keep their businesses alive, or simply don’t take them.

This misunderstanding contributes to scepticism from recruiters, friends, and even family members. They see entrepreneurs as pursuing risky "get rich quick" schemes or living on the edge, without fully grasping the dedication and discipline required to turn an idea into a viable business. What looks like chaos to the outside world is, for entrepreneurs, the calculated execution of vision and perseverance. To an entrepreneur this lack of confidence from those close to them can sometimes be frustrating or even upsetting.

Negative Stereotypes: Some common misperceptions about entrepreneurs include:

• Cutting corners: Entrepreneurs are often seen as cutting corners. In reality, they work with tight budgets and timelines, managing limited resources to create as much impact as possible. The lean operation of a startup often requires frugality, not recklessness.
• Unregulated: Far from ignoring regulations, they often operate on the cutting edge of business and science in areas where regulation is yet to be written, AI being the perfect example of the moment.
• Risk-takers: While entrepreneurs do take risks, these risks are usually calculated. They balance potential rewards against the possibility of failure, often learning from past experiences to make smarter decisions.
• Egotism: Entrepreneurs are sometimes seen as having large egos, but many are driven by a passion for their ideas rather than by personal gain. They work long hours, often without recognition, to bring their visions to life.
• Unrealistic expectations: Another common belief is that entrepreneurs have unreasonable expectations of their teams or businesses. However, in reality, entrepreneurs are often deeply in tune with their business and the people who work for them. They have a comprehensive understanding of every aspect, from the ground level to strategic planning.

These stereotypes ignore the fact that successful entrepreneurs must balance creativity with discipline, inspiration with perspiration. Rather than being bullies or schemers, most entrepreneurs are deeply invested in the success of their ventures and are committed to the people who help bring those ventures to life.

Shark Tank?and?Dragons' Den

Shows like?Shark Tank?and?Dragons' Den?offer a dramatised view of entrepreneurship, focusing on flashy pitches and quick financial negotiations, which can skew the perception of what it really means to build a business. These programs simplify the process, making it seem as though securing investment is the pinnacle of success, while overlooking the years of hard work, sacrifice, and trial-and-error that most entrepreneurs go through before they're even ready to seek funding.

These shows tend to highlight high-growth, scalable businesses, promoting the idea that entrepreneurship is only valuable if it leads to rapid financial success. This ignores the contributions of countless small and medium-sized enterprises that are crucial to local economies but don't fit the mould of billion-dollar ventures. By reinforcing a competitive, power-imbalanced dynamic between investors and entrepreneurs, these shows miss the reality that successful entrepreneurship is often built on collaboration, not just capital.

I’ve met with investors to discuss hundreds of millions in investment, and I’ve never once had a meeting like those on Shark Tank or Dragon’s Den. Before you have investment meetings, investors already know who you are, what your business or proposition is, they’ve reviewed and scrutinised your pitch decks, proposals and financials, and I mean deep financial forecasts and projections, not those scribbled on a scrap of paper. You don’t get or take those meetings without a lot of due diligence on both sides.

The Value Entrepreneurs Bring to Businesses

Resilience and Problem Solving: Entrepreneurs bring a wealth of experience that can be incredibly valuable to established companies. Having often faced failure and learned from it, entrepreneurs can adapt quickly, solve problems on the fly, and pivot strategies when necessary. They’re skilled at managing crises, navigating limited resources, and staying focused on long-term goals even in the face of short-term setbacks.

Companies that avoid hiring entrepreneurs may be missing out on these valuable skills. Entrepreneurs have often weathered storms that corporate employees haven’t, giving them a unique perspective on problem-solving. They’ve seen both failure and success, and they know how to chart a course through the chaos.

Big Picture Thinking: Entrepreneurs are visionary thinkers who can connect the dots that others might not even see. They bring an outside perspective that can challenge the status quo within companies. Where others see insurmountable obstacles, entrepreneurs see opportunities. This ability to think holistically and strategically is invaluable for companies looking to innovate or expand. Entrepreneurs can spot inefficiencies, suggest creative solutions, and drive growth in ways that more traditional employees might not. As a result, it is difficult to pull the wool over the eyes of entrepreneurs.

Deep Knowledge and Network: Entrepreneurs know their businesses inside and out, often wearing multiple hats across operations, finance, marketing, and product development. This makes them agile and resourceful. Their broad experience means they can see things that others don’t, offering a fresh perspective in corporate settings. Additionally, entrepreneurs often have vast professional networks that can open doors to new partnerships, clients, and opportunities.

Hiring an entrepreneur means bringing in someone who understands the intricacies of business at every level, from big-picture strategy to the minutiae of daily operations. They often have a keen sense of when things aren’t going to plan, or when systems are inefficient, which can drive positive change within an organisation.

Why Society Should Recognise Entrepreneurs More

Dismissive Society: Entrepreneurs are often dismissed as dreamers or risk-takers. But every innovation we take for granted today started with someone who dared to dream big and take a chance. From tech startups that reshape industries to small businesses that enrich communities, entrepreneurs drive economic growth and change in our society. Yet, despite their contributions, society is often quick to undervalue the hard work behind entrepreneurial success.

We see this attitude in industries like Film & TV, where the efforts that go into production, and especially pre-production, are often dismissed without outside recognition if that production gets cancelled, or fails at the Box Office. The countless hours of planning, strategising, and problem-solving go unnoticed because the project didn’t "make it." Yet, these failures lay the groundwork for future successes, teaching valuable lessons along the way.

Focus on Wealth: When entrepreneurs do succeed, society frequently reduces their achievements to mere financial success, focusing on their wealth rather than the years of hard work, sacrifices, and persistence it took to get there. The narrative should shift to acknowledge the resilience, creativity, and courage required to turn an idea into reality.

Why Companies Should Hire Entrepreneurs

Recruiting Entrepreneurs: Hiring entrepreneurs can be a game-changer for companies. They’ve often made mistakes and learned from them, so your company doesn’t have to; or to put it another way, they already know how to build a lightbulb, and 999 ways not to! The

Big Picture: Their experience in managing limited resources, understanding market needs, and building businesses from the ground up can bring fresh ideas and new ways of operating. Entrepreneurs are adaptable, big-picture thinkers with a keen eye for efficiency.

Status Quo (Not the Band): They’re also not afraid to challenge the status quo, which can be refreshing in a corporate environment that may be slow to innovate. Entrepreneurs thrive in environments where they can make an impact and drive change, making them excellent candidates for roles that require leadership and creativity.

The Unsung Heroes of Innovation

In summary, entrepreneurs are the unsung heroes of business and innovation. While their paths may not always be conventional, their contributions are invaluable. They are visionaries, problem-solvers, and big-picture thinkers who can drive industries forward. Society and businesses alike should give more credit to entrepreneurs, not just for their successes but for the risks they take, the challenges they overcome, and the innovations they bring to the world.

Hiring an entrepreneur is an opportunity to bring that energy, resilience, and creativity into your business. So, the next time you look at a CV or resume with a history of entrepreneurship, don’t dismiss it. Embrace it, you might be hiring your company’s next visionary leader.

As someone with over 30 years of experience in the Film, TV, and Media industries, and an established track record as an entrepreneur, I’ve lived the life first-hand. My deep understanding of business development, brand building, and navigating complex challenges allows me to help other entrepreneurs and businesses grow sustainably. Whether it’s driving innovation, finding strategic solutions, or leading high-level discussions on emerging technologies, I bring a wealth of knowledge and a forward-thinking approach that can transform ideas into tangible propositions. Let's connect and turn your business vision into reality.

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