Entrepreneurs’ Economics: Key Lessons From YP Entrepreneurs

Abstract

Economist's Corner - Key lessons about entrepreneurs’ economics from YP entrepreneurs. The draw toward entrepreneurship is clear: The opportunity to control your own destiny, reach your full potential, and reap large profits all while doing what you enjoy sounds pretty good, right? The oil and gas industry is a veritable breeding ground for those who want to make this dream a reality. However, this dream cannot be achieved without a significant amount of personal risk and hard work. YPs Can Be Entrepreneurs According to the Global Entrepreneurship Monitor’s 2011 and 2012 reports, there has been a dramatic increase in startup businesses in many countries throughout the world. Given a sympathetic underlying government policy and public support, entrepreneurship is a real possibility in many aspirant YP entrepreneurs’ career roadmaps. Since its beginnings in the mid- 1800s, the capital-intensive oil and gas industry has borne witness to many visionaries who overcame myriad obstacles to set up successful businesses. Most lessons they learned apply to those who want to take advantage of opportunities and test their self-belief, creativity, and determination to do something for which they have a passion.