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What is your definition of Entrepreneur?

What is your definition of Entrepreneur? A self employed tradesmen? A Franchise owner? A E-Commerce arbitrator? What it the line of someone owning a job and be an entrepreneur?

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level 1
15 points · 7 months ago · edited 7 months ago

An entrepreneur is one who can recognize and/or create opportunity where opportunity either doesn't exist, or is under-utilized. He/she then is capable of extracting value from that opportunity in exchange for leverage or monetary gain.

To go further, an entrepreneur not only is capable of doing the above, they also can put together teams and processes (sales, marketing, management, procurement, biz dev strategy etc) to continue that process on an ongoing basis.

Lastly, an entrepreneur skillfully assess risk (money, time, resources) to his/her own level as the final variable to the above formula.

EDIT: a few of typos

level 2

How does that differ from a business owner? I'm so confused about the difference.

level 3
2 points · 7 months ago

Well, as I see it, they can be the same. But this is the main differentiator: Where the entrepreneur's focus is on value creation and opportunity maximization of various resources to create a business (or exchange the created value for money).. the business owner's focus is on the operation and long term viability of said business. This is what I've observed personally from the businessmen I've associated with.

An entrepreneur will see a row of soccer mom's dirty minivans every saturday.. he then tells mom A that he'll clean her car top to bottom while at the next soccer practice, he hands out business cards to passers-by, then hires the kids who aren't playing to detail the cars.

A business owner says, that's a great idea, I'll pay you 1x your money to buy that business from you.

Both are similar. The entrepreneur had the vision and resources to pull it all together, where they business owner didn't necessarily have the vision initially but still understood it and bought in.

I may have made even less sense. What's your take on it all?

level 3
2 points · 7 months ago

To say it another way- I think a business owner has a focus on the stewardship of the business as where the entrepreneur focuses on the creation of an opportunity and transforming that into a business.

level 1

A high risk, high reward individual willing to forgo a job from someone else in order to create a life where they are able to pay themselves through one or multiple sources of income.

level 2

So someone that has a side business while having a full time job doesn’t qualify? Honest question

level 3

Imo I would consider that person a business owner. There's a difference between owning a business and being an actual entrepreneur, as entrepreneurship is a lifestyle and mind-set while many business owners simply buy themselves a new job, but ultimately end up working for their customers with little growth (which is perfectly fine if that's your ambition).

level 3

According to me he does.

level 1

Living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't

level 1

My friend told me it is french for: "People who build cool shit"

(I know that is not what it directly translates to)

level 2
Original Poster6 points · 7 months ago

Let’s just pretend that is the direct translation. Lol

level 1

An entrepreneur is someone that can see, make and take advantage of possibilities. It's a mindset, thinking big and always striving to improve!

level 1

Risk taker. Creator of ones own future.

level 1

Someone who is afraid to be a part of the rat race

level 1

Someone who creates something new.

level 1

A business minded individual who knows that he want's to be an alpha and work his way up and call the shots. Entrepreneur never has just one income in mind, they will have minimum of three and pursue there efforts on their own time to accomplish success. Enterpreneurs take greater financial risks to accomplish/reach the successful peak.

level 1

Literally anyone who makes money on their own, without a boss.

level 1
2 points · 7 months ago

Entrepreneur a mindset, and is is a highly coveted title. Unfortunately it is overused by trustfund babies these days. It is a word that represents those who create from scratch. Those who make a vision a reality, and do so without a safety net. You see, there is a huge problem these days with rich-kids calling themselves "Entrepreneur" because they invested some of their trust fund into a good idea. They are not adding the value of creation, or vision. These investors are moving the needle with capital.

Entrepreneur/investors are those, such as shark tank judges, that wear both hats. They have shared misery, and suffering with entrepreneurs who are bootstrapping their ideas, and making sacrifices. Now, they have the capital to make wise investments in startups, and wear the hat of investor, but they will always understand the entrepreneur mindset (doing more with less, and no real safety net). Entrepreneur is someone who is self-made. If you have never been in a situation where you have no one to call, no safety net, no other resources and you're not sure if you can pay your expenses...than you're probably not an entrepreneur.

level 1

It's one of those questions where if you ask 2 entrepreneurs, you'll get 5 answers. I believe self-employed individuals are entrepreneurs, some folks don't (doctors, lawyers and the like), what does it matter in the end though?

level 1

I feel that the word entrepreneur gets thrown left & right, along with digital nomads way too often.

I like the word Entrepre"DOER" better.

An individual who actually puts things into action & not just with glamourous story telling of dreams.

level 1

The word entrepreneur has evolved. The current evolution isn't a definitive thing, it's a mindset. Being a student and working in the startup ecosystem in Boston, when "entrepreneur" is used to describe someone it's about how they think and act, rather than just having their own business.

level 1

My definition is someone who works to create the business trifecta: Vision, Team, Financing. If you are working for someone else (including clients, because then you're just an independent contractor), I wouldn't consider you an entrepreneur.

level 1

Professional problem-solver

level 1

A person who starts his/her own business/event/thing, to be in charge of it and and full of ideas to support his/her passion. Everyone who wants to be his/her own boss can be an Entrepreneur, but only the good ones will succeed till the end.

level 1
Comment deleted7 months ago(1 child)
level 2

I think the low risk is just this sub.

level 1
[deleted]
1 point · 7 months ago

Good question and everyone will have an answer. To me entrepreneurship is defined by scalability.

level 2
Original Poster2 points · 7 months ago

Scalability is key! Nice.

level 1
[deleted]
1 point · 7 months ago

Someone who hustles 24/7

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