Entrepreneurship 3.0

March 11th, 2008 by gvanourek

Entrepreneurship is a defining feature of our time. Unfortunately, our thinking about it is now obsolete.

We typically think about entrepreneurship in the business context (what we call “version 1.0” of entrepreneurship). Of course, business entrepreneurship has been around for centuries. Its conceptual origins can be traced back to the 18th and 19th centuries (through the influential work of economists Jean-Baptiste Say and Joseph Schumpeter among others), and there are examples of entrepreneurship going back millennia.

In recent decades, the phenomenon of social entrepreneurship—geared toward social transformation, not profit-making—exploded onto the scene. We call it “version 2.0” of entrepreneurship. The term was coined in the 1960s but became popular in the 1980s and 1990s—and became celebrated on the world stage with Muhammad Yunus’ Nobel Peace Prize. Of course, examples of social entrepreneurship can also be traced back centuries, though the term wasn’t used then (just check out the work of Ashoka the Great).

Today, there is a new phenomenon emerging with implications equally large: life entrepreneurship (what we call “version 3.0” of entrepreneurship). With life entrepreneurship—which we define as creating a life of significance through opportunity recognition, innovation, and action—people are integrating entrepreneurial mindsets and principles into their entire lives. It’s a promising way for people to transform ordinary lives into extraordinary ones—and it is being embraced by a growing cadre of people seeking more out of life, especially rising generations of leaders and seekers.

Welcome to the dynamic world of “entrepreneurship 3.0.” It promises to be a grand adventure. How are you going to live it?

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