A quick look at the many available definitions of the word all seem to revolve around the idea of starting a business. Some examples:

- A person who takes the risk of organizing and operating a new business venture

- A risk-taker willing to try new things typically by creating new businesses (can be product, service, technology or market-driven)

I freelanced as a digital audio engineer for years and I would not consider that portion of my career entrepreneurial. Essentially, I performed a job function for many clients instead of one company. What I gained was the freedom to determine my own hours by not being locked in to the policies of any one organization.

My entrepreneurial years began when I took an idea for a restaurant and turned into reality.

I would consider a true entrepreneur one who has the wherewithal to go through the process of turning an idea into reality. The world is full of "brilliant" ideas. What it seems to often lack are people to effectively execute them and turn them into viable businesses.

If I had nickel for every person who told me during my start-up phase that they had also thought of the same idea, I could probably retire young. The real question that separates the entrepreneurs for the idea guys is "what did you do with it?"

Now...having said that - I have run across people who I would consider to have the entrepreneurial spirit. Often, instead of applying that spirit to their own "company" and taking on the risk of a start-up, they apply it to their jobs by thinking and acting well beyond the scope of their job description. It is often these people that produce innovation within an existing company.

So I would say you can have the spirit of an entrepreneur in your life, but to truly assume the role is to go through the risk of a start-up process. That process will likely forever change your life - it did mine.

posted 5 months ago

Great question :)

I didn't dare to personally define entrepreneur or give a criteria as to what makes someone an entrepreneur, and used the wikipedia to see what the majority of us think an entrepreneur is. Unsurprisingly, it is what I thought it should be ;)

An entrepreneur is a person who has possession over a new enterprise or venture and assumes full accountability for the inherent risks and the outcome. The terms "accountability, risks and outcome" are of importance here to define an entrepreneur.

Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities.

So, you can be an entrepreneur even if you are working on your own or just part time...You can be an entrepreneur even if you don't have a company incorporated however, having one always helps and safeguards you...

Feel free to reach out/ follow-up with questions and comments.
Devesh

Links:

• http://en.wikipedia.org/wiki/Entrepreneur
• http://en.wikipedia.org/wiki/Entrepreneurship
• http://www.idea2inception.com

posted 5 months ago

The dictionary definition of entrepreneur is "someone who owns and operates a business, taking a greater financial risk to do so". So I guess if one freelances and earns a living by getting their own business contacts, and receives money for services, then technically they are an entrepreneur. Obviously, not every situation is that cut and dry. Many freelancers get their work from a couple of reliable sources and really don't have to beat the bushes for work. So I can see where they would feel as though they are not entrepreneurs. The same is true of some sales folks, they have the support of an office but are really creating their own business leads.
I really understand the why Michael Gerber would make the comments he did, since when I think of an entrepreneur I really think of someone who is an innovator, someone who creates the service or product and pushes through the obstacles to get it to market.
Having said that, there are a lot of network marketers out there who are pushing through obstacles to get a product to market and develop a team, which sounds pretty entrepreneurial to me.
I really don't think there is a line drawn in the sand about who is an entrepreneur. I feel like I am one, since I have always wanted to own a business and was willing to give up some financial security to do so. I created something that was not there before, however I am not the only coach in the world, so does that disqualify me?
Entrepreneurialism is kind of a spirit or way of thinking. It is innovative, risk taking and exciting. It is about the unknown, and success or failure. It is about everything depending on you and that sick feeling you get in the middle of the night when you realize that. I think entrepreneurs are willing to accept failure if the it leasts to the next success. They are tenacious and open and will "do what it takes" to make their dream a reality. So in that regard, not everyone is a entrepreneur even if they own their own business.

posted 5 months ago

The easiest interpretation for me is a person with an insatiable appetite for business. It is more than just "starting a business" or being a "business owner" but rather someone who is always looking at expanding and are never satisfied with the status quo.

posted 5 months ago

I'm gonna go ahead and disagree with Gerber's interpretation right out of the gate. To create something new infers that there IS "something new," and there isn't. Not under the sun. There are old things done in different ways, mind you, for different audiences and with incrementally updated technology.

NOTE: Your definition of "new" may not match mine. Just understand that where we disagree, I'm right. LOL

Gerber also errs in the above statement that self-employed people have jobs where they're the boss. That isn't true either: self-employed people have jobs where their customers are the boss. And this is an error many, many entrepreneurs make -- some to the ultimate demise of their companies.

The entrepreneur is therefore the person who decides to do something differently, and is willing to get right in front of the customers to do it.

As to your original question, whether you need a "company" or not for this depends entirely on your view of "customers." If you are in another company, and you see internal customers, then you have a chance to be an entrepreneur in that context. Y'feel me?

posted 4 months ago

Sheer insanity! Just kidding.

A fierce sense of independence that cannot function in any other work environment than the one created by the individual.

posted 4 months ago

Passion for their business idea that fuels an unrelenting drive to bring that concept to fruition and success.

posted 5 months ago

Why has an entrepreneur to be designated as a freelancer, investor and a risk taker etc ? Could the main criteria for an Entrepreneur be some one with a passion to achieve something that he believes in?
An entrepreneur may take risks, turn ideas into reality,create systems, relationships, teams and opportunities, all to achieve his dream..

Actually there are entrepreneur's in all successful companies. One key reason for companies to succeed, maybe are these "entrepreneurs" who are on its payrolls and they are the people who make the company what they are...

Or is it something else ?

posted 5 months ago

Yes, of course. You may have just a job - buy you have to create the processes, take inputs and create valued outputs. That is creation too.

I see the entrepreneur more as someone who is a corporate misfit. Either they knew that from the get-go, or figured it out as they tried to fit into the assigned seat and box...

posted 5 months ago

People that know how to use resources effectively in a business.

posted 5 months ago

Willingness to take the plunge with calculated risk and a vision to sustain and grow.......On anon anon

Best
Ravi

posted 4 months ago

Typical Characteristics of entrepreneur are -

- Risk taking abilities
- Out of the box thinking
- Ability to lead & inspire a team
- Long term vision, instead of working for someone else for quick paycheck
- Hard working

posted 4 months ago

Andrea,

No, not without a company or organization. I think Michael Gerber was saying an entrepreneur leads the formation of a business or organization. Freelancers are independent service providers. If somebody organized a group of freelancers then, in my opinion they could call themself an “entrepreneur”.

posted 4 months ago