What is an Entrepreneur? – A Definition

Entrepreneur

What is an Entrepreneur? – A Definition

 

What is an entrepreneur? An entrepreneur is someone who either starts a business from scratch or purchases an existing business in order to satisfy a defined need by potential customers by solving a problem or satisfying a need, taking on potential risk in order to make a profit.

 

Entrepreneur
Entrepreneur

 

First, you must identify a problem or a need and then provide a solution for the problem or need, whether by offering a product or a service. If there is no problem or no need, your efforts will be futile.

As a child, you may have decided one day to undertake a lemonade stand in order to attempt to make some money. If it not warm outside or there are no people nearby that might be thirsty, you will not succeed. No problem – no need.

However, if it is hot outside, and there are many construction workers that are building houses near your home, and you realize that they would enjoy something cold and refreshing to drink, you could decide to make that available to them. Depending on your price, and how you advertise your product, whether signage and/or directly approaching your potential customers to let them know what you have to offer, you will probably make some money.

You saw a problem (a need), and know that you have readily available customers. You solve their problem (or need) by offering them that product in order to solve their problem. You, my friend, have become an entrepreneur!

 

Fortunately for you, you probably had a generous investor (your Mom), who provided you with the pitcher, lemonade, ice, and plastic cups for your venture, along with a table for your stand. All of these items were probably made available to you at no charge, so you have no investment and no risk. Construction workers came, bought your lemonade, and you made yourself some money. No risk – all reward!

A smart Mom might let you get away with that once, but the next hot day that you decide to repeat the process, that smart Mom would make you buy your own lemonade, ice and glasses in order to start your lemonade stand. If you did not have the money to do so, she might loan you the money, which she would expect you to pay back, whether you made any sales or not. This smart Mom would be teaching you one of the most important basics of entrepreneurship; without risk, there can be no reward.

 

Some people seem to be born with the entrepreneurial spirit. As a child, they may have operated a lemonade stand, offered to wash the neighbors’ cars or cut their grass, or perhaps went door to door selling candy, greeting cards and wrapping paper, seeds, or possibly Girl Scout cookies. If you did any of these or similar things as a child, and enjoyed them, than you already have the entrepreneurial spirit. If you did any of those things and absolutely hated it, then you probably do not.

Other people develop or acquire the entrepreneurial spirit later on in life. Perhaps as a child, you grew up in a more rural area, with little access to your neighbors, so the aforementioned examples were not really an option for you. Yet, somewhere along the way, you became interested in trying to solve someone’s problem or fill a need in someone’s life. This is when you became an entrepreneur.

Being an entrepreneur can be both exciting and scary at the same time. While you might be excited at the opportunity to be your own boss and keep all of the profits, you are aware that there are risks involved, as well as potential rewards. In all businesses, you will have an investment of
time and money before you can expect any rewards.

 

To see if you have the entrepreneurial spirit, please answer Yes or No to the following questions:

1.  Have you ever had thoughts about working for yourself and going into your own business?

2.  Have you ever had a desire to run your own business, but do not know which business would best suit you?

3.  Have you ever had a desire to run your own business, but just do not know how to go about it?

4.  Have you ever had a business of your own, but things do not go so well?

5.  Are you currently in a business of your own, but are experiencing some problems that you cannot correct?

6.  Are you currently in a business of your own, but would like to take it to the next level?

7.  Are you currently successful in your business, but are unsure of how to best manage your money?

 

If you have answered Yes to any of the questions above, then, you definitely have the entrepreneurial spirit and my eBook series:  Being Successful in Your Own Business – A Step-by-Step Guide to Success is definitely for you.

 

There are (3) Books in this Series. They are as follows:

1.  Your Business Setup

You will learn how to choose:  your Business, your Business Name, and your Business Structure. You will also learn how to:  set up a Home Office, set up your Bookkeeping, create a Business Plan, get your Business Licenses, choose and purchase your Domain Name, choose a Host, choose a Website Theme, and initially set your site up.

 

2.  Work on Your Website

You will learn how to create:  a Logo, a Home Page, additional Pages, Menus, Sidebar Widgets, and a Blog Post. You will also learn about:  Keywords, Images, Affiliate Links, Product Reviews, and how to best benefit from Google and Bing.

 

3.  Get Social, Videos, & Money Management

You will learn how to set up and work with:  Facebook, Twitter, and Pinterest. You will also learn:  how to create Videos, about Money Management, how to do your own Taxes, and how to create Additional Income Streams.

 

You can view a sample of any of my eBooks by clicking on any of the eBook title links above. Once you do that, click on the version that you prefer in the area that says:  ‘Download samples of this book’. I offer a generous FREE 20% sample of each of my eBooks.

 

For a limited time, I am offering a special introductory offer (a 33% discount) on any and all of my eBooks.

 

If you would prefer to purchase my books in Paperback, you can visit Amazon KDP, and view them on my Author’s PageCJ Dodaro

 

I hope you find my eBooks worthwhile and a benefit to you.

Best of luck in all that you attempt to accomplish!

 

Thank you. Sincerely,

CJ Dodaro

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About Author

CJ Dodaro
I am a semi-retired, 65 year young man who has owned and operated a variety of successful business throughout my life. Starting most from scratch, I have acquired extensive knowledge for what is required for setting up a business properly from the ground up. Since these businesses have been both the brick & mortar type as well as the online variety, I feel qualified to help people in almost any business area that they wish to pursue. I wish to share the information that I have acquired in order to help other aspiring entrepreneurs become successful.

6 Comments

  1. Cathy

    I think everyone has a little dose of entrepreneurial spirit in them. If one has a vision or desire of doing things differently, that’s a good starting point. Having groomed to join the coorporate, I discover the entrepreneur in me much later in my early 30’s. By then, I was pretty sick of the 9-to-5 and was looking for a way out. 

    I know I have a lot of ideas and creativity in me, so why use it to build someone else’s dream? That was when I seriously thought about my future and what’s truly fulfilling at the end of the day. Since then, I’ve started a blog and learning all that I can about online marketing, search engine and traffic generation. The transition from employment to becoming an entrepreneur isn’t easy – I’ve yet to quit my job – but the day will come when I am able to take my business full-fledged online and start living my own life. 

    Reply
    1. admin

      Thank you for sharing your story. Yes, that is the key:  to realize that you want to put all of your efforts into building something for yourself, rather than for someone else. It does not matter when in life you realize this. The only importance is to do something about it. Best of Luck!

      CJ Dodaro

      Reply
  2. James

    CJ, a nice post on what is an entrepreneur. I like the example you gave of the girl selling lemonade and how she met a need. I think starting a new venture is a scary prospect especially if there are heavy start up costs. If only we had the investment of the savvy mum in your example.

    Reply
    1. CJ Dodaro (Post author)

      Thank you. Yes, if only we all had that Mom.

      Reply
  3. tman61

    your site is awesome, A newbie can go on it Starting on phase 1 and go step by step and learn to be an affiliiate. all the way to phase 3. i know you have 4 phases, but when i clicked on to the 4th phase it opened up blank.

    Reply
    1. admin

      Thank you for your comment. Phase 4 information will be added soon. A work in progress. Lol

      Reply

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