The majority of wealth in the hands of the ruling class, owning one’s own business was a rare sight. The old-world entrepreneurs mostly consisted of merchants and craftsmen. Plenty of merchants created their own business, but a lot of the time the business and connections were handed down generation to generation. Skilled craftsmanship was another family affair, but anyone with the right connections that was lucky enough to land an apprenticeship and succeed at it we’re able to climb the economic ladder a little higher.
Merchants started to take over be more prominent as the world market grew because of exploration and sailing and shipping became easier. It wasn’t until the industrial age when the big business was back in a central location. Inventors were a large part of the entrepreneurial field. Using new technology, manufacturing, transportation and ingenuity, inventors dominated the industrial age.
The 20th century was the home of the media kings. Radio, television and film blew up creating new industries across the globe. Finally, our current Information Age came upon us in the 80’s. Since then moguls have been materialized from one single good idea worth billions upon billions of dollars.
Entrepreneurs have shaped the face of business and enterprise since the dawn of man. From the first wheel to the advent of the internet, these clever businesspeople evolved for centuries into their most recent incarnation, the social media entrepreneur.
We’re no longer cave-people, but we still have some things in common with our ancestors.
Instead of using the internet as a forum for their business, today’s social media entrepreneurs are reshaping it to fit their businesses. These social media entrepreneurs thrive on connectivity.
The Evolution of Entrepreneurship
The need and the constant necessity for a good leader is one of the many factors that drive the evolution of entrepreneurship. Besides this, there are a few other factors:
- Trading: With the improvement in communication between the countries and the advancement in transportation, start the process of trading.
- Advent of stable specialization and communities: When more and more individuals start to settle in secure communities, a huge change was noticed in their lifestyles. Each group had a leader who was qualified and specialized in one task and that helped in speeding the development of leadership skills and innovation.
- Need of independent career: More and more people are looking for a career path that is totally independent. The majority started to take risks by developing their own businesses in order to achieve maximum benefits.