Undertake it is “undertake and start a work, a business, an endeavor, especially if they involve difficulty or danger“, according to the dictionary of the Royal Spanish Academy. However, beyond the linguistic definition, any entrepreneur who is in full development of his objectives may realize the existence of a greater complexity in this concept.
Thus we pose a question: what would happen if we tried to explain entrepreneurship through a formula? The answer, a priori, would be simple: it is not possible! And if so, we would speak of an equation with almost infinite variables.
However, in a purely empirical exercise, at WebEmprendedores.com we propose a simple formula that, far from being scientifically recognized, only aims to remember what in our opinion should be the basis of any entrepreneurial project:
Entrepreneurship = Motivation x Knowledge x Creativity
where,
Entrepreneurship: action and effect of undertaking your project.
Motivation: is a CONSTANT in our formula. All entrepreneurship must have enough passion to remain motivated at all times.
Knowledge: is perhaps the most complex factor. You must fully know the product, the market, your team of human talent, the public, the market, the campaign, the scope, the possible obstacles, the variability in time and any additional element that influences the development of your project. It also assumes self-knowledge as a fundamental value, that is, know yourself and what you can achieve, your potentialities and your limitations.
Creativity: Without this factor, your formula would be flat. Being creative makes you see the world in another dimension and is essential if you want to make a difference. Creativity must accompany you from the moment you conceive your ideas until the completion of your plans. In this age, if quality goes hand in hand with innovation, the chances of success are higher.