I was talking with a client yesterday regarding how some individuals would like to be known as an entrepreneurs, even labeling themselves as such, though they are doing nothing in terms of assuming risk and taking initiative to generate income. So here was my response to him regarding my definition of entrepreneur with sub-definitions:
- Entrepreneur – Someone who assumes risk, takes initiative, and manages an enterprise to generate income, not relying on “the man” to get paid.
- Unaccomplished entrepreneur – Someone who successfully generates income and builds wealth for himself or his family, but not directly for others (i.e. contractors, freelancers, consultants, etc.)
- Successful entrepreneur – Someone who builds wealth directly for more than one individual or family.
How do you define an entrepreneur?