Entrepreneur's Day: celebrating entrepreneurs everywhere
On November 19, 2024, we celebrate National Entrepreneurs’ Day in the United States, a day dedicated to honoring the risk-takers and innovators whose work drives economic growth and innovation.
Entrepreneurs bring new ideas to life, and this day is our opportunity to recognize their dedication, grit, and impact on society.
When is Entrepreneurs' Day?
Two key dates celebrate the spirit of entrepreneurship globally:
- National Entrepreneurs’ Day in the United States: Observed annually on the third Tuesday of November. This year, it will be celebrated on November 19, 2024.
- World Entrepreneurs’ Day: Celebrated globally on August 21, 2024.
These days provide a global platform to appreciate entrepreneurs’ contributions to society and to inspire future generations of innovators.
The History of National Entrepreneur's Day in the U.S.
In 2010 entrepreneur Siamak Taghaddos started a petition to create a National Entrepreneur’s Day.
His petition garnered thousands of signatures, leading President Obama to proclaim the third Tuesday in November as National Entrepreneurs’ Day. Since then, Americans have used this day to recognize and support entrepreneurship as a key driver of the nation’s economic and social progress.
What is an Entrepreneur?
The word “entrepreneur” is a French word that roughly translates to English as “one who undertakes.”
According to the Merriam-Webster dictionary, an entrepreneur is defined as someone who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
We’re sure many of you agree that the most common trait of entrepreneurs is that they are risk-takers. It takes courage to start a business and grit to keep going in the inevitable moments when things don’t go according to plan.
Why celebrate Entrepreneur's Day?
Here’s why celebrating Entrepreneur’s Day is important:
Catalysts of Innovation:
Entrepreneurs push boundaries, often pioneering new ideas and solutions that transform industries. They are the force behind products and services we rely on daily.
Economic Growth and Job Creation:
Small businesses and startups play a crucial role in job creation, and entrepreneurs are often at the heart of this growth. In the United States, 55% of adults have been entrepreneurs at some point, and 26% have started at least two businesses. This underscores the essential role of small businesses in driving local and national economies.
Solving Real-World Problems:
Entrepreneurs address challenges that improve our lives, from healthcare and education to environmental sustainability. Their efforts are often rooted in a desire to solve problems that benefit society as a whole.
5 Trends in Entrepreneurship
5.1 AI in focus
Use ChatGPT? Use Whale?
No? You should be.
AI can help you generate processes for your business, automate routine tasks and even create epic social posts!
AI technologies, including machine learning and automation, are becoming more sophisticated and accessible.
Without even knowing it, modern-day entrepreneurs are leveraging AI to optimize processes, personalize customer experiences, and develop innovative products and services.
5.2 Business runs on a framework
It’s okay not to know it all. In fact, these days, entrepreneurs are more willing to follow those who’ve been there and done that.
In recent years, frameworks such as EOS, the Entrepreneurial Operating System®, have become increasingly popular. These frameworks have been developed to assist entrepreneurs maximize results and benefit from learnings, such as developed by Gino Wickman, founder of EOS, in his book Traction.
5.3 It's all about Systemization
Remember the days when you only had to do one or two things to be successful?
Nowadays, business is much more complex. That means in order to achieve success, it’s a matter of systemization. In other words, it’s all about developing processes in your business.
The goal is simple; to make sure your business runs confidently and seamlessly.
5.4 Banking on the Gig economy
The gig economy is booming stated a report by Mastercard in 2020.
In 2021 it was worth a cool $300 billion as of 2021 and was expected to reach $455.2 billion in 2023.
What does this mean for entrepreneurs? A more efficient way to run a business; a truly agile approach.
5.5 Being open to learning
Building a culture of continuous learning and improvement is essential if you want to remain competitive.
In the past, life was more stable. You could predict future results based on the past. Now it’s a matter of testing and learning and being open to new ways of doing things.
Regular training and employee development can help ensure that your team, and business have the right skills to handle future challenges.
Advice from Top Entrepreneurs
Entrepreneurship is a way to change the world. It’s a way to make money and help others, too.
It’s not just about being creative and selling products that people love; it’s about being innovative and tackling problems no one else has solved before. True entrepreneurship isn’t about generating wealth; it’s about contributing to society and solving problems.
“Entrepreneurship has become increasingly socially conscious, taking stock of the impact of entrepreneurial activity on societal issues and tending to view the possibility of addressing those issues as an important function of entrepreneurship.” (Investopedia)
Entrepreneurship was made famous thanks to the likes of;
- Andrew Carnegie
- Oprah Winfrey
- Walt Disney
- Gino Wickman
- And more
But more recently, we held interviews with some of the world’s best entrepreneurs and here’s their advice;
STOP thinking about Scaling - Nick Franklin, ChartMogul
Entrepreneurship is all about growth.
But Nick Franklin, CEO of ChartMogul says if you really want to grow, you have to stop focusing on scaling and think about what matters;
- Customers
- Your product
- And adding value.
You've got to keep reinventing yourself - Matt Verlaque, SaaS Academy
Matt Verlaque started out as a fireman and is now a entrepreneurial fire lighter in his role as COO of SaaS Academy.
In this action-packed episode, we dive into the incredible journey of Matt Verlaque, COO of SaaS Academy. From his early days fighting fires to building successful ventures, Matt’s story is loaded with insights every entrepeneur needs to hear.
His top entrepreneurial tip is that you have to keep reinventing yourself.
You've got an obligation to grow - Brendan McGurgan, Simple Scaling!
Brendan McGurgan is the mastermind behind simple scaling.
In this power interview he reminds entrepreneurs that entrepreneurship is a gift that needs to be shared.
Essentially, says Brendan, you have an obligation to grow.
Learn…
- 🔑 The #1 reason businesses don’t scale (and how to overcome it!)
- Why the mindset of a leader is the biggest scaling block 🌍
- How Brendan scaled his company from 15 people in Northern Ireland to 700 across 6 continents! 🎯
- The 3 key principles that will get your scaling journey off the ground
To succeed you need to make yourself irrelevant - Mike Montague
"If you keep hiring people like yourself, you’re going to have two people who don’t like to do the things you don’t like to do."
Mike Montague is the head of franchise strategy at Sandler, the world’s largest sales training organization.
His top entrepreneurial tip is to make yourself irrelevant as a founder.
You won't succeed without learning - Curt Cronin,
Dedicate yourself to mastery and to continuous learning, as opposed to perfection, says former Navy Seal turned Entrepreneur, Curt Cronin.
Misconceptions about entrepreneurship
The idea is everything
The truth is no one cares about your idea.
People care about what your idea or your product/service can do for them or how it can help them solve a problem. Find how the solve a problem and then think about the product, not the other way around.
You have to do it all yourself
Although entrepreneurship can be a lonely road, it’s not a solo journey. Mentors, partners, investors, and supportive teams are essential. Successful entrepreneurs know when to seek guidance and build networks that help them grow.
It’s an easy way to get rich
Entrepreneurship is certainly not easy and whilst it is a wealth path to which there is no upper limit to how much you will earn, it will take time, and you will need to be dedicated to the journey.
You just have to find the one right way
Entrepreneurship is a rollercoaster. Even when you find your secret to success, it’ll most likely change. What got you here, won’t get you there and you’ll need to be able to adapt.
Bottom Line: Why Celebrating Entrepreneurs Matters
Naturally, as an entrepreneur, you will always be pushing for more, it’s important to celebrate the moments of victory in the entrepreneurial journey, which is why celebrating Entrepreneur’s Day is the perfect opportunity.
Entrepreneurs are innovators, leaders and innovators who have the power to transform industries, create jobs, improve society and make our lives better. Entrepreneurs are people from all walks of life who have taken risks in their own lives and succeeded with their ideas, becoming role models for others and creating change in our world economy.
We understand the journey of entrepreneurship and the considerable risk and challenges involved in creating a business. Our founders started Whale because they’d experienced that challenge of having no process involved in their business and wanted to help others solve the problem.
To all the entrepreneurs out there, thank you for your passion, creativity, and hard work.
Happy Entrepreneurs’ Day!
FAQs about Entrepreneurs’ Day
How can I celebrate Entrepreneurs' Day?
To celebrate Entrepreneurs’ Day, you could:
- Network with Other Entrepreneurs: Attend events, workshops, or webinars aimed at entrepreneurs. It’s a great way to meet like-minded individuals, share experiences, and learn from each other.
- Support Local Businesses: Make a conscious effort to shop at or use the services of local small businesses. Promoting them on your social media channels can also help increase their visibility.
- Educate Yourself: Take the time to read books, listen to podcasts, or watch documentaries about entrepreneurship. There’s always something new to learn that can help you grow your business or inspire you to start one.
- Mentorship: If you’re an experienced entrepreneur, offering to mentor someone just starting out can be incredibly rewarding. Alternatively, seek out a mentor for yourself.
- Celebrate Your Achievements: Take a moment to reflect on your own entrepreneurial journey and celebrate your successes, no matter how small they might seem.
Is there a Women Entrepreneurs' Day?
Regarding Women Entrepreneurs’ Day, while there isn’t a global standard date, some organizations and countries observe specific days to honor women entrepreneurs. For example, the Women’s Entrepreneurship Day Organization (WEDO) observes Women’s Entrepreneurship Day annually on November 19th. This day is celebrated to acknowledge the significant contributions of women entrepreneurs to the global economy and to empower and support women entrepreneurs worldwide.
To celebrate Women Entrepreneurs’ Day, similar activities to those mentioned above can be undertaken, with a special emphasis on supporting and mentoring women in business. This could also include attending or organizing events that specifically focus on the challenges and opportunities faced by women entrepreneurs.
