Entrepreneur's Day: celebrating entrepreneurs everywhere
National Entrepreneurs’ Day in the US, falls on the 19th of November 2024. So we wanted to celebrate entrepreneurship as a way of life.
Let’s take a moment to celebrate entrepreneurs everywhere for their grit, perseverance, and contribution.
When is Entrepreneurs' Day?
World Entrepreneurs’ Day is celebrated on Wednesday the 21st of August 2024.
And National Entrepreneur’s Day is celebrated on the third Tuesday of November; 19th of November 2024.
What is the history of National Entrepreneur's Day in the US?
In 2010 entrepreneur Siamak Taghaddos started a petition to create a National Entrepreneur’s Day. He didn’t understand how America, though considered the most entrepreneurial country in the world, didn’t already have a day dedicated to recognizing entrepreneurs. Six months and thousands of signatures later, President Obama proclaimed the 19th of November 2010 National Entrepreneur’s Day.
The first Entrepreneur’s Day was celebrated in 2010 in recognition of their contribution to society by then President Obama. It’s been celebrated ever since on the third Tuesday in November.
Why celebrate Entrepreneur's Day?
Entrepreneurs are much of the driving force behind innovation and economic growth. They’re also the reason why so many of us are able to enjoy such a wide variety of products and services that might not exist if it were not for their vision and drive to bring them into existence.
Entrepreneurs are the people who create jobs, solve problems, and contribute to the lives of others. They are often self-starters with a vision that turns into something big.
In the United States, 55% of adults have been entrepreneurs at some point, and 26% have started at least two businesses.
But who exactly are these people and what do they represent?
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.
5 Trends in entrepreneurship for modern day entrepreneurs
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.
Who are some famous 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)
Here are a few of our favorite entrepreneurs and the contributions they’ve made to society.
Walt Disney
Few individuals have had a more significant impact on both the entertainment industry and 20th-century pop culture than Walter Elias Disney.
His most famous creation, Mickey Mouse, is a cultural icon that is now the universally recognized representation of the joy that Walt Disney contributed to society.
Oprah Winfrey
Oprah Winfrey, is a global media leader, producer, actress, dedicated philanthropist, and the CEO of Harpo Productions Inc., O Magazine and the Oprah Winfrey Foundation.
She has won numerous awards for her contributions to journalism as well as being named one of “Time” magazine’s most influential people several times over. In 1987, she established a private charity, the Oprah Winfrey Foundation to lead, educate, uplift, inspire, and empower women and children throughout the world.
Andrew Carnegie
Andrew Carnegie was a Scottish immigrant, philanthropist, and steel magnate who built libraries using his wealth at various locations throughout the United States.
“At the age of 13, Carnegie worked from dawn until dark as a bobbin boy in a cotton mill, carrying bobbins to the workers at the looms and earning $1.20 per week. A year later, he was hired as a messenger for a local telegraph company, where he taught himself how to use the equipment and was promoted to telegraph operator. With this skill he landed a job with the Pennsylvania Railroad, where he was promoted to superintendent at age 24.
Not just ambitious, young Carnegie was a voracious reader, and he took advantage of the generosity of an Allegheny citizen, Colonel James Anderson, who opened his library to local working boys — a rare opportunity in those days. Through the years books provided most of Andrew Carnegie’s education, remaining invaluable as he rapidly progressed through his career…” (Andrew Carnegie foundation)
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
Whilst entrepreneurship is a lonely road; it’s not an individual sport. Team members are comprised of mentors, investors, team members, and even supportive spouses and family members.
Don’t try to do everything yourself; learn to ask for and accept help to unlock growth and potential truly.
If you have ambitious people in your company, aligning their objectives with that of the company is going to drive overall success. It’s a very healthy way of realizing goals.
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.
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.
Bottom Line?
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.
So from a couple of entrepreneurs to another, we thank you for being an entrepreneur. We acknowledge your hard work and for being bold enough to make change happen!
Happy Entrepreneurs’ Day!
