To be or not to be an entrepreneur…

The definition of entrepreneur is “a person who sets up a business or businesses, taking on financial risks in the hope of profit”. So, in essence, any small business owner who takes that brave step to set up their own business is an “entrepreneur”.

However, I tend to disagree with that and think any small business owner is entrepreneurial but there is more to whether they can be labelled as an entrepreneur.

For me, there has to be more substance to the term being applied to someone who has set up their own business – there needs to be elements of success and a proven track record in establishing the business (or multiple businesses). Don’t get me wrong, failure is likely to be part of the process, as not every venture will be successful (as the stats indicate). There will be numerous “war stories” for those people that have gone down this path and eventually reached the level of success where being described as an entrepreneur is appropriate.

As Richard Osborne states in this month’s “spotlight on” interview, “entrepreneur” has become commoditised and is used far too frequently that you could argue it no longer has the kudos associated with it that it may have done historically.

Richard also agrees with me that the “honour” of being deemed an entrepreneur is something that should be bestowed on you, not self-claimed. That peers looking from the outside can assess your success and in so doing, give you that label.

Paul Green
The Business Bulletin

Don't miss out...

Enter your email address to ensure you receive the next edition of The Business Bulletin as it is published.

To be or not to be an entrepreneur…

by Paul Green Time to read: 1 min