Babson College thinks the world needs a new definition of entrepreneurship, and they’re getting ready to write it. The school has just launched an advertising and marketing campaign designed to “extend the definition of entrepreneurship,” asking the community at-large to participate in redefining the word by visiting their new digital hub, define.babson.edu, and sharing their thoughts on what it is that makes up entrepreneurship.
During a soft launch of the campaign last month, more than 1,000 definitions were entered by students, staff, faculty and friends of the College, including Daymond John, host of ABC’s Shark Tank, founder of FUBU and the school’s current Entrepreneur in Residence.
“I define entrepreneurship as creating opportunity, decisive, empowerment and visionary,” John said in an email to BostInno.
As more definitions continue to roll in, Babson plans on incorporating them into their branding campaign, putting a new spin on how people interpret entrepreneurship. Sarah Sykora, Babson’s Chief Marketing Officer, said she was “awestruck” at the volume of definitions they’ve received so far, coming from all over the world. People from Sri Lanka, Singapore, India and Mexico have begun submitting their responses, a lot of which have been in sync with Babson’s message.
“For us, entrepreneurship is not just starting a business, but really a methodology,” Sykora said. “We want people to understand that methodology. Entrepreneurship is very important for our world, and anyone can participate in it.”
Conceptualized and executed in partnership with Boston-based advertising agency Connelly Partners, the campaign includes print, digital and radio components. The first ad (above) features the work of footwear designer Ruthie Davis, a Babson alumna, and will run in several outlets, ranging from Forbes and Fortune to People and Sports Illustrated.
Some of the definitions of entrepreneurship the College has received so far, include —
- An opportunity to prove ones beliefs by envisioning the whole forest, not a single tree.
- Empowering people and simplifying life.
- A state of mind.
- ‘Entrepreneurship’ means creating value. Value to customers, value to employees, value to stake-holders and finally value to yourself. The day you believe you can create value, become an entrepreneur.
- Entrepreneurship is recognizing opportunity in uncertain times.
What’s your definition of entrepreneurship? Head to the site and comment! Stuck for ideas? You can check out Babson’s video below for some inspiration.