What is entrepreneurship? Transforming the potential value of goods, services and places in real value added

What is entrepreneurship ? How to become successful entrepreneurs ? 

It is simple: transforming the potential value of goods, services and places in real value added. An example can explain the meaning of this statement. I live in Reggio Calabria, a small town in southern Italy, located on the sea in front of Sicily. The waterfront of Reggio Calabria is considered by many the most beautiful in Italy. My town has few entertainment activities. Taking advantage of this weak point of the city in a boost for starting a business, a company had the excellent idea of ​​installing an ice rink on a small public area on the waterfront, rented for a month by the Municipality of Reggio Calabria. Excellent business idea! Every day, from 10 am until midnight a large number of skaters are using the ice rink paying € 6 per hour each. The ice rink is always full of people. It is easy to estimate the relevant income arising to both the company and the Municipality of Reggio Calabria, which rents space before unused. 

What are the ingredients of entrepreneurial success?

1) sell something missing in the market (novelty / originality of the business idea);

2) sell something that solves a problem deeply felt by consumers (in our specific example: to provide entertainment in a small town poor of entertainment activities).

What general lesson can be drawn from this example, both by those who want to start businesses and public administrators who want to run the city development processes?

Exploit the great potential value inherent in the places, goods and services to meet critical problems for consumers. 

Specifically, the city of Reggio Calabria we must take advantage of the waterfront and not leave it unused, wasted. A great opportunity to exploit is to create a permanent agribusiness Expo of the Mediterranean, in which all countries of the Mediterranean can to showcase their food products in our city so that it can grow, becoming the gateway to the rich markets of Europe.

Domenico Nicolò


Informazioni su domeniconicolo

Domenico Nicolò, papà di Carmen e Vincenzo, sposato con Paola Suraci, straordinario di economia aziendale, Università Mediterranea di Reggio Calabria, domenico.nicolo@unirc.it