You heard it here first – today I am coining a new term …
Open Source Entrepreneurship
More than 600,000 new businesses are started every year in the United States (an average of 40 a day here in the Richmond, VA area alone) – and the overwhelming majority of them will fail within a few years. That is unacceptable. A new model is needed to do a more effective job of helping small businesses succeed. One component of that new model will be what I refer to as “Open Source Entrepreneurship” or “OSE” for short.
OSE is …
“The collaborative pursuit of opportunities by individuals through free and open access to resources, knowledge, and experience.”
The best definition of entrepreneurship is from Harvard Business School Professor Howard H. Stevenson – “Entrepreneurship may be defined as the pursuit of opportunity without regard to resources currently controlled.” – So I am borrowing partly from that line of thought (thanks Howard).
Stay tuned for more on this movement – and I would love your thoughts on my definition (that’s a part of collaborating!).