With the increasing demands for jobs with lesser opportunities, increasing number of university graduates, the lack of satisfaction and the salary packages, the innate intelligence and creativity that people have, etc., has caused people to use ideas, opportunities and resources to capitalize and create new business.
This paper will expound some of characteristics of an entrepreneur and their associated venture, showcasing Larry Page and Sergey Brin on the founding of Google, Inc.
What is an Entrepreneur?
An entrepreneurs are the people who use innate intelligence, hard work and available opportunities altering the direction of national economies, industries and markets by inventing new products and technologies (Dr. Anurag., 2015). In another study, ‘entrepreneurs’ are defined as the individuals who are innovative and creative and commit to create new initiatives (Ramananda Singh, H & Ratvi, Dr. Habib., 2013). Entrepreneurship focuses on narrowing the gap between the supply and the demand by creating values or bringing forth the existing values (Aliyev, Farhad., 2015, p. 2).
The Story of Google Inc.,
The Birth of Google Inc.,
Sergey Brin and Larry Page (the Ph.D students) started Google as a research project in the year 1995 (Finkle, Todd., 2012), a move towards building search engines. Page started studying links (Wise, D. and Malseed, M., 2005, p. 1), which later became the building blocks of search engines. The duo developed an algorithm known as “Page Rank”, for which they gradually started to find markets. Google was founded in 1998.
Google’s move towards Business
Although, the two started with no monetary intention, they slowly moved towards exploring the investors. Sun Microsystems co-founder, Andy Bechtolsheim, issued the two with a check value of $100, 000, followed by $25 million from another group of investors (Finkle, Todd., 2012). Google started to sell various tools ranging from search capacity and Ads to android (Finkle, Todd., 2012, p. 7-8). While search results remained free, Google started making money by selling ads.
Brin and Pages’ traits- An Entrepreneurial Profile
a) Skills Organizing: Google possesses expertise in handling computer hardware (Wise, D. and Malseed, M., 2005) to simulate the Internet search. Todd (2012) found out that the duo’s ‘Page Rank’ surpassed all the other search engines.
b) Value of achievement over money: Entrepreneurs identify a need (Aliyev, Farhad., 2015). With no monetary intention in the beginning, the project moved from investments to philanthropy. Google started giving 1% of its equity and yearly profits to philanthropy (Finkle, Todd., 2012).
c) Seizing opportunities: Though the history of Internet dates back to 1950s, accessibility of the content was not easy until the birth of Google search engine. Yahoo and other search engines could not defeat Google.
d) Talent and Risk, Innovation and creativity: Another amazing story of Google is ‘Google IPO’, which was based on the bids received online instead of the road shows and ordinary advertisements (Wise, D. and Malseed, M., 2005, p. 5). In another case, despite the dotcom crash in 2000, Google hired and provided free logistics for numerous graduates, towards developing software.
Looking at the comfort of employees, Brin and Page’s provided free Internet in the buses where employees travel. Employees were free to work without any worries (Wise, D. and Malseed, M., 2005, p. 3).
e) Preference for moderate risk: Immediately after seeing interested investors and opportunities, the two took the risk by taking leave of their Ph.D program, to have a full time focus on the business (Todd, 2012).
f) Confidence in their ability to succeed and Future orientation: Mr. Schmidt(CEO of Google Inc) admits that Google is confident enough to compete the market, given that Google does not dare to share its future strategy to anyone (Wise, D. and Malseed, M., 2005). Google has already looked at fields like biology and genetics, where people have access of incredible amount of data, towards the cure of wide range of diseases(Wise, D. and Malseed, M., 2005, p. 9).
Brin and Page’s innovation, The Google Inc., is still one of the biggest search engines, since its inception in the year 1998. The project, which started with a mere monetary thoughts, had helped people with easy access to Internet resources, businesses, opportunities and alternatives.
Google poses a threat to other competitors. For instance, Bill writes an email to one of his senior executives: “We have to watch these guys. It looks like they are building something to compete with us”(Wise, D. and Malseed, M., 2005). Wise(2005) reads the remarks made by Brin “Perhaps in the future, we can attach a little version of Google that you just plug into your brain”.