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What is Real Entrepreneurship?
The word “entrepreneur†is the most overused and abused word in the world of business. Entrepreneurship is special.  Real entrepreneurs are unique and rare.  We need to give the word “entrepreneur†and the real entrepreneurs themselves more respect. They deserve it.
How many times have you heard random people proclaim “I’m an entrepreneur�  In “the business world†the word “entrepreneur†is used to describe things that aren’t entrepreneurial like cutting costs, coming up with new ideas, being strategically minded, etc…When most people utter the word “entrepreneur†it’s usually a compete violation of the true meaning of the word.
I cannot give you a real definition of entrepreneurship in one simple perfect sentence. There are too many considerations and factors to give the word a respectable one sentence definition.  Go to Google and type in “define:entrepreneurship†in the search box. There are 40 or so definitions and most of them give no justice to what real entrepreneurship truly is.  Entrepreneurship, like so many other things in life, is best described by discernable actions or traits. Some call it a specific point in time. Others describe entrepreneurship as a state of mind or an inherited trait you are born with.
Are entrepreneurs born or are they made? Well actually they are both. However, that question is almost irrelevant. The real question is do you have desire? The real question is do you truly believe – religiously – in your product or service. The real question is do you already possess or can you humbly acquire the traits necessary to be a real entrepreneur? They are acquirable – you don’t need to be born with most of these traits.
If we can’t define entrepreneurship in one sentence then what are some of the traits that define real entrepreneurs? Over the next couple of weeks I will be publishing my thoughts on “real” entreprenuership. Please feel free to tell me your thoughts.
Chris,
Check out a few of these posts that relate to your question. I would be interested in your thoughts.
http://www.theentrepreneursblog.com/?p=36
http://www.theentrepreneursblog.com/?p=38
http://www.theentrepreneursblog.com/?p=30
Also, my definition of an entrepreneur is pretty simple. Show me your company (or companies) that you started, how much money did you put in to start it/them, what did it/they do in sales and profits over the course of their existence and how much did you sell it/them for (if they were sold). If you can’t show me something that is impressive in these simple categories, particularly after a period of years of being an “entrepreneur”, then I submit that you aren’t one. OR if you have been an entrepreneur for a long time and can only show me one such company, then you aren’t an entrepreneur. You are lucky.
-Alex
Left by Alex Lawrence on 12/04/2006I couldn’t agree with you more! How about a group of developers and a crazy boss working out of a basement with no pay for several weeks at a time?
Left by Kory Hoopes on 12/04/2006@Alex
You seem to be saying that if I start a business, run it and sell it with “impressive” results then I’m an entrepreneur. I don’t know if I fully agree with you. I think that entrepreneurship is more than that. There is certainly a mindframe element and a timeframe factor with entrepreneurship. Luck is certainly a factor as well. I’ll be posting soon on the difference between small business owners and real entrepreneurs - I’d like your thoughts.
Left by Chris Knudsen on 12/05/2006@Kory
See my thoughts post today (12/5) on the idea guy vs. real entrepreneurs. You might find it interesting.
http://www.chrisknudsen.biz/?p=196
Left by Chris Knudsen on 12/05/2006I did oversimplify a complicated topic with my previous post. However, I still maintain that this is a good down and dirty way to separate the ranchers from the ranch hands (all hat no cattle). I do think though that if you start a business, run it well, and sell it for an solid return then you are somewhat of an entrepreneur without going into the minutiae of entrepreneurship. Starting, executing, selling is something many, many cannot do while even more try to.
Regarding small business owners and “real” entrepreneurs, I posted extensively on this example. I suggest that the difference between a small business owner and a “real” entrepreneur is one of circumstances, primarily. The link to the post is:
http://www.theentrepreneursblog.com/?p=36
Left by Alex Lawrence on 12/05/2006As you know Chris, I’ve got plenty of ideas on what it means to be an entrepreneur.
Maybe one of these days I’ll create a list on what entrepreneurship is not, at least in my opinion. To start, it’s not MLM, it’s not buying an already successful business, and it’s certainly not what you become when you call the 1-800 number on those signs by freeway exits that read “Apprentice wanted - $20K per month.”
Left by Joshua Steimle on 12/05/2006@Josh
You nailed it.
I couldn’t agree with you more about MLM. However, you could buy a business with the intent of turning it to something much more than the original owner thought it could be. You might be an entrepreneur in that one instance. But most people buy a company so they won’t “have a boss”. There is nothing entrepreneurial about that.
Left by Chris Knudsen on 12/05/2006