A lot of people like to throw around the term “entrepreneur”. They brandish it like it’s an elite title that sets them apart from the average businessman or corporate suit. Yet few people truly understand what an entrepreneur is and what makes them different from standard MBAs or wall street investors.
Entrepreneurs play a key role in any economy, but their importance is often undervalued. They are the risk-takers who are willing to invest their time and money in coming up with new ideas and turning them into new businesses. Without entrepreneurs, there would be no new businesses and no economic growth. Entrepreneurs create jobs and help to drive innovation. They are the engine of the economy.
In this article, we’ll dive into the world of entrepreneurship and discuss what makes them different from average businesspeople. We’ll define the term entrepreneur and share some examples of industry leaders who meet the bill. So, if you’re wanting to join the ranks of global entrepreneurs find out more about them here.
What is an Entrepreneur?
In the simplest of terms, an entrepreneur is someone who starts their own business. Yet, what sets them apart is that they are the driving force behind a new company, product, or service and are willing to invest their own time and money into an idea that they believe in. They are often passionate and have a vision for their business.
Entrepreneurs are different from standard business people in that they are not content to follow the status quo. They want to create something new and innovative, not just drive profits. Often, it’s their desire to make a difference or to solve a problem that pushes them to innovate and advance technology to never before seen levels.
What Does Entrepreneur Mean?
The word entrepreneur comes from the French word entreprendre which means “to undertake”. In the 17th and 18th centuries, it was used to refer to someone who took on projects or tasks, usually involving risk.
The first recorded use of the word in English was in 1755 by Richard Cantillon. In the early 1800s, the word started to be used more specifically to refer to someone who starts their own business, and, by the mid-1900s, it had morphed into the definition we use today.
Can You Study to Become an Entrepreneur?
There is no one specific path to becoming an entrepreneur. Some people are born with the natural ability to take risks and think outside the box while others have to learn it. However, there are a few things that will give you a leg up on the competition.
A college degree is not necessarily required to become an entrepreneur, but it can help. A degree in business, economics, or accounting can give you the foundation you need to understand the financial side of running a business. A degree in engineering or computer science can also give you the skills you need to develop new technology.
There are also many programs and courses available that can teach you the basics of starting your own business. These can be found at many colleges and universities or online. The key is to find one that is reputable and has a good track record.
There are also many books and articles written on the subject of entrepreneurship. These can be a great source of inspiration and information but you should be careful to not get too caught up in the stories of other entrepreneurs and forget to focus on your own business. The most important thing you need to become an entrepreneur is passion.
What Makes an Entrepreneur Different from an Inventor or Business Executive?
An entrepreneur is different from an inventor or business executive in a few key ways. First, an entrepreneur is someone who is willing to invest their own time and money into a new business, particularly a business they feel is innovative or groundbreaking. They don’t simply sit back and pour money into an existing business to turn a profit.
Second, an entrepreneur is often passionate about their business and has a vision for what they want to achieve. They are not just in it for the money. True entrepreneurs set out to find solutions to longstanding problems, generating innovation and technology breakthroughs for all mankind.
Third, entrepreneurs are often willing to take risks that inventors and executives are not. They are not afraid of failure and are willing to experiment in order to find new and innovative ways to do things. Entrepreneurs are the driving force behind new businesses and refuse to tow the company line.
So, if you are passionate about your business, have a vision for what you want to achieve, and are willing to take risks, you may have what it takes to be an entrepreneur.
Famous Entrepreneurs Throughout History
Some of the most successful entrepreneurs are those who have found a new way to do something or have created a new product or service. Steve Jobs, for instance, was a master of innovation. He took existing technology and made it better by creating products that people didn’t even know they needed.
Another example of a successful entrepreneur is Mark Zuckerberg. He created a new way for people to connect and communicate. He saw a need for a social platform that didn’t exist and he filled it, creating what we all know as Facebook today.
Yet entrepreneurs are nothing new. Some of history’s greatest giants of industry were all entrepreneurs. Henry Ford was the first person to create an affordable automobile that the average American could purchase. Likewise, Cornelius Vanderbilt made a fortune by linking the American East Coast with the Midwest by rail, allowing commerce to spread throughout the nation.
These innovators all saw the need for something new and filled the gap in the market. Their genius is what makes them entrepreneurs.
The Bottom Line
Entrepreneurs are often lumped together with run-of-the-mill businessmen yet they’re far more important to the economy. Their eye for innovation and dedication to their passions drives technological advancements and fill needs we didn’t even know we had.