What is an Entrepreneur?
Entrepreneur is one of the most over used and least understood words in the business lexicon. Entrepreneur has become a common descriptor for people who simply own their own business. They are called entrepreneurs whether they started the business from scratch, bought the company from someone else or even if they inherited the business. An entrepreneur is so much more. They are not just owners or operators of business. So what is an entrepreneur?
The following definitions have been written primarily by academics who study the entrepreneurial phenomena but who are not themselves entrepreneurs. These definitions are presented here so that they can be compared later to the definition of an entrepreneur that was created by an entrepreneur who has trained more entrepreneurs than any other single person, not only in America, but worldwide – Gordon Bizar.
Some authoritative definitions of entrepreneur include:
Merriam Webster – Definition of an Entrepreneur: one who organizes, manages, and assumes the risks of a business or enterprise.
Wikipedia – An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome.
The Free Dictionary (by Farlex) – Entrepreneur: A person who organizes, operates, and assumes the risk for a business venture.
Collins English Dictionary – Entrepreneur (Business / Professions): the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits.
A more precise and more accurate definition of entrepreneur:
So here is the definition by a successful practitioner entrepreneur and the number one trainer of other entrepreneurs. Gordon Bizar – An entrepreneur is a person with a vision who orchestrates the time, talent, money and resources of other people to make their vision real.
Notice in this definition of entrepreneur, there is no assumption of risk. A successful entrepreneur has mastered the techniques of passing the risk on to others. It's investors who take risk. An entrepreneur can start with nothing but a vision utilized to draw in all of the necessary investors and other stakeholders.
Notice in this definition of entrepreneur, there is no reference to new venture. A successful entrepreneur can orchestrate a vision of combining already existing companies into a more efficient or more effective organization of assets.
Notice in this definition of entrepreneur, there is no reference to profit. In fact many a vision has been manifested in the world of not-for-profit organizations. So profit may not be the motive and is not a necessary outcome.
Notice in this definition of entrepreneur, there is no reference to even operating a business. Many a successful entrepreneur has learned to license or franchise their idea to others to operate.
Notice in this definition of entrepreneur, even the vision may not be native to or owned by the entrepreneur. Many a successful entrepreneur has manifested a vision rented, borrowed or even stolen from someone else.
Notice that this definition of entrepreneur is the only definition which even mentions the word vision. The other definitions ignore it as if any worthwhile or productive enterprise has no need of an entrepreneurial vision.
When you boil entrepreneur down to its bare essence, the only skill set necessary is getting other people to put up their time, talent, money and other resources to manifest a result. It's all about leverage. One person's efforts acting alone cannot accomplish all that much. One person, an entrepreneur, leveraging him or herself through the time, talent, money and other resources of many other people can accomplish a result as grand and as glorious as their vision will allow. Equipped with only a vision, every other resource on planet earth is clay in the hands of the entrepreneur sculptor.
What about becoming an entrepreneur?
So where does a person learn how to be an entrepreneur? If you Google a phrase like "center for entrepreneurial studies", "center for entrepreneurship" or center for entrepreneurism" you will get links to colleges and universities that teach the academic version of entrepreneurship. You will learn to take risk as a necessary element of entrepreneurship. You will not learn how to hone your vision and how, through vision alone, you can orchestrate the time, talent, money and other resources of other people to fully manifest your desired outcome. You might even think that since these colleges and universities command the first page of the search results, that they must be the most authoritative source of entrepreneurial knowledge. Those who understand search engine ranking know that their page position has nothing to do with their entrepreneurism teaching capability. Their position ranking is based on the website traffic of the entire institution of which their traffic related to entrepreneurism is but a fraction. So the website of an entrepreneurship specialist will not likely be positioned as well in any search where educational generalists are also listed.
If you really want to become and unstoppable entrepreneur, molding the world to your vision by orchestrating the time, talent, money and other resources of other people, you need to go to the source of the definition. To find out more about what you can learn from Gordon Bizar and how you can use his time honored methods to start, buy or build your own successful business, watch his free 25 minute video Getting Rich Your Way.