Starting a business is the desire of many people who strive for financial stability. For a company to strive, business expert Shalom Lamm believes that there must be sacrifices to be made by the business’s proprietor. They must have the capital to invest in the business for it to be profitable and successful. Engaging in and developing business is called entrepreneurship, and those involved in starting the business are called entrepreneurs. The origin of entrepreneurship dates back to 17000 BCE in New Guinea. The trade took place between black volcanic glass used to make arrowheads with other tools they needed for hunting. During the early years, many communities were preoccupied with pastoralism and hunting and never took a keen interest in business development. This was because of the lack of skills and specialized interest.
The agricultural revolution was the stepping stone towards establishing roots in entrepreneurship. This was 12000 years ago when communities started farming and gathering to exchange farm produce with what they did not have. Communities began to organize themselves and identified people with different skills and specialized in specific areas. Different communities became experts in certain areas, and they would always meet to exchange other products that they would have produced. This meant that young entrepreneurs seized this opportunity to start small businesses to help lift their respective communities’ living standards.
With the advent of the agricultural revolution and subsequent development of entrepreneurship, There were the establishment of cities and the agricultural revolution, including Tigris and Euphrates that was established due to the abundance of water from the river Euphrates. Back then, this became an economic hub where entrepreneurship led to an increase in population and more towns in the region.
There was the invention of money that changed the way trade was made. Before then, trade was made through barter trade which only involved the exchange of goods with goods. With the invention of a common denominator currency, people were free to trade and carry back money which was high in value and easy to carry and conceal.
In the modern world, we have experienced entrepreneurs establishing multi-million companies that have scaled success heights. People have found companies that have become successful and made marks in the international realm.
Shalom Lamm is the Chief Executive Officer of Operation Benjamin, who has vast experience in entrepreneurship. He holds a bachelor of philosophy from Yeshiva University. He is interested in the real estate industry, having invested as a managing partner of Lion and Lamm Development for over a decade.
Lamm outlines some of the qualities an entrepreneur should possess, which propelled him to reach the pinnacle of his success. As an entrepreneur, you must have the right mentality before investing in a business. You should be able to gauge and know any obstacle that might arise in the process of setting up the business and how to overcome it. Experience is good for starting your business, and this is because it will give you lessons on how to deal with the current challenges in your business.