Explain how your impact statements relates to other components of The Practice of Entrepreneurship.
What will be an ideal response?
To be successful at creating and building a new business, a new strategy, a new product, or anything radically new requires desire—you have to have a strong feeling to achieve something larger than yourself. Rarely is entrepreneurship about the money or the profit. Granted, fast-growth companies are primarily concerned with wealth creation,
but the general reasons for why people start businesses go much deeper. Some pursue what they love, others value their autonomy and ability to control their work experience, and others have a strong desire to bring something new to market. The profit motive is simply not sustainable in the long run because entrepreneurship is hard work and requires satisfaction and desire that is derived from deep within. Your impact statement is what drives you to practice the other components (e.g. calculating your affordable loss, taking small actions, etc.). It is only your impact statement that determines whether or not you continue with your idea. Quit only if you no longer have the desire inherent in your impact statement.
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