Here is a definition that I’m paraphrasing from one of my mentors – Eben Pagan – “The entrepreneur creates profitable businesses”. The sum of those words is what differentiates an entrepreneur from other professions and people plus the necessary characteristics an entrepreneur should have.
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3 Important Words To Clarify The Meaning of Entrepreneur
Reading the previous definition about meaning of entrepreneur – you will realize that includes 3 VERY IMPORTANT words. Let’s dig in them a little bit more to help you get more juice out of them :
An entrepreneur creates! NOT copy’s – NOT imitates – NOT rips off. But creates – innovates – adds something new to the equation.
An entity that offers products or services that meet the needs of others, successfully. Else named as “corporation”, a business is technically thought as a person and treated as a person. It’s a separate entity – a system that has its own needs and it’s separated from you.
It generates more value than it consumes and that’s usually referred to financial profit. Here is another great article by Brett Nelson on Forbes about the meaning of entrepreneur.
Meaning of Entrepreneur – Additional Benefits You Will Obtain During The Process
Living by this meaning of entrepreneur WILL bring you additional benefits & profits in the process. Many of them you can’t even dream from before and that’s why we call the entrepreneur profession…a transformation journey. Once your mind opens and acquires an entrepreneurial spirit, there is no way back.
All of these additional benefits & profits come from building and running a business or learning the needed mindsets & skills. Here are several more benefits and profit examples:
Social Profit – Social Relationships – Social Good
Those include all of the social gains you will receive in the process of turning yourself into an entrepreneur like new social relationships with people, the chance to do social good-by serving and solving other people problems etc.
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Emotional – Intellectual & Learning Profit
Those include all the benefits you can gain in the field of education (like undertaking several new education trainings for your business), experience (from running and growing up your business) and emotional (from the relationships you get to create in a personal level)
Another meaning of entrepreneur – “Is an identity of a human being that is creating profitable businesses”. Here is another amazingly valuable article written by the definition of entrepreneur – himself – Sir Richard Branson about the meaning of being an entrepreneur.
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