Home > Entrepreneurs, Tips for Parents/Teachers > We Have Entered the Entrepreneurial Age, says Farrell

We Have Entered the Entrepreneurial Age, says Farrell

“The twenty-first century,” wrote Larry Farrell, contributing columnist to The Conference Board Review magazine, “Is clearly shaping up as the Entrepreneurial Age…unlike anything we’ve ever seen in its depth and scope.”

In his article he describes the evolution of entrepreneurship which once was only for the tycoons (i.e. Rockefellers, Carnegies, etc.), but then took a back seat during what he wittingly calls the “Managerial Age” – when B-school theories drove entrepreneurship right out of town.

But all of that has changed now. He notes that big businesses are now “re-installing an entrepreneurial spirit” within their organizations so they can compete against the little guys – the entrepreneurs. In regard to big business, Farrell says:

“In a world where 70% of the original 1955 Fortune 500 is gone and where half of all economic growth now comes from industries that didn’t exist twenty-five years ago, becoming an entrepreneurial organization is the only way to stay in the game.”

What he doesn’t say is why it changed. But my hunch tells me it’s mostly due to the Internet – it certainly gave me the resources to become more entrepreneurial.

He goes on to list many governments that are fostering entrepreneurship to create more jobs and grow their economies.

But here’s the message that is most important for anyone who is a parent and/or teacher. [Note: I’m replacing his “individuals” and “yourself” with “your kids” to drive his point home.] He says,

Getting entrepreneurial could very well be the best weapon for [your kids] to prosper in the future world economy.

He adds,

Preparing [your kids] to survive by [their] own wits is an absolute necessity in a downsized and uncertain world.

What a great, exciting time to be alive! I can’t wait to see what the next decades of the great Entrepreneurial Age will bring us, what cool new technologies will be developed, and how entrepreneurs will improve our standard of living.

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