What’s up internet my name is TridentLion & welcome to this blog. On this blog I’m going to be discussing the origins of the word entrepreneur.
Entrepreneur and entrepreneurship is a word i didn’t really become familiar with until after college, I’ve always heard of it but it has been a word of ever increasing popularity. The increase of popularity can be attributed to the rise of online business. Thousands of people are there own boss now because of the internet and a desire to be a entrepreneur. When I hear the word entrepreneur I think of various successful business leaders, even anyone that hustles and makes a living being there own boss. Business leaders such as Garyvee have discussed the differences between a entrepreneur and a wantrepreneur. Due to entrepreneurship becoming increasingly popular and it being so easy to claim yourself to be an entrepreneur on social media there are a lot of fakers. According to Garyvee to be an entrepreneur it is a way of life, you know you’re an entrepreneur if you can’t breath working for someone else. Actions always speak louder than words. You can tell if someone is a entrepreneur by there actions.
So what does the dictionary define entrepreneur as and where does the words origins come from?
According to Merriam-Webster “Entrepreneur” is defined as: One who organizes, manages, & assumes the risks of a business or enterprise.
Where does the origins of the word entrepreneur come from?
The first known use of the word was in 1762. It comes from the french, from the word “entrepredre” which simply means to undertake enterprise.
It doesn’t mean to talk about how your gonna start a business, but rather to undertake responsibility, and risk of a business.
What’s interesting for me reading the definition in comparison to my originally assumed definition of entrepreneur is the risk that the individual takes on. My original thought of an entrepreneur is anyone that tries to make money on there own by monetizing a product, service, and/or intellectual property. A real entrepreneur does that however they also take on risk. How a person manages there risk will determine whether they are a success entrepreneur, a wantrepreneur, or an idiot.
A successful entrepreneur has self awareness, adapts to what the consumers and market wants, and jumps in first by putting 1 foot in to test the water, especially if they have others they are responsible for, kids a family. A successful entrepreneur learns from failure and grows through knowledge gained by experience.
A wantrepreneur is basically someone that is more talk than action. Someone that doesn’t take on much risk at all. A successful entrepreneur whether they jump all in or go partially in due family responsibilities or something manage there risk but working a lot. Hustling more and more to lower the risk and getting closer to there income goals. A wantrepreneur’s hustle will be half assed. They might even give up on a project or idea at the first sign of defeat.
So I talked about successful entrepreneur, wantrepreneur, and now what would make someone a idiot with regards to risk management. An idiot is someone with no self awareness, no consumer awareness, basically someone that thinks they have a great idea, go into debt and jump into head first into there idea. I remember seeing some people on the show “Shark Tank” acting like this. No offensive to anyone, much respect for at least going after it instead of just sitting on the sidelines. But holy crap, its amazing to see some people so blinded by there own love of there idea. There love for there idea has blinded them to the point where they can’t see how no one wants there product, and how they can’t get people to want there product by going further into debt. It’s a important step before going all-in with your idea to have self awareness, to do market research, establish proof of concept, and test the product with consumers to see if its something worth providing.
Everyone is a idiot at some point with regards to something. The way to become less of an idiot is by learning from the failures and mistakes. Every successful entrepreneur has experienced failures, set backs, and mistakes. I’ve heard the definition of insanity is repeating the same mistake expecting different results. That can also be the definition of an idiot in the business world.
Comment below what your thought are on entrepreneurship? What do you think makes someone an entrepreneur rather than a idiot or wantrepreneur. If you’re new to the blog please give me a follow and share it to any wantrepreneurs you know. Thank you so much for reading and until the next blog remember…
Always be learning, always be creating, and always be inspired!