Recently I read an article that pretty much stopped me dead in my tracks. The content of the article gave me an expanded version of my interpretation of the term “entrepreneur” and gave me cause for some additional self-examination.
One definition of the term “entrepreneur” I studied basically alluded to a person who began an undertaking related to business and accepts responsibility for its outcome. A new perspective was presented dealing with entrepreneurship by Austrian economist Joseph Schumpeter. Schumpeter in his definition focuses on innovation; dealing with new products, manufacturing procedures, markets and methods of organization.
Author Bill Crosby in his article “A Basic Understanding of Entrepreneurship” states that a difference exists in entrepreneurial ventures and small business with regard to the amount of wealth that is created, the speed at which the wealth is created, amount of risk involved as well as the magnitude of innovation.
Seeing this new (at least new for me) take on the concept of being an entrepreneur made me take a stronger look at what I was doing. It was somewhat disturbing to say the least to think that my view of being an entrepreneur could be inaccurate. If I compared myself to Bill Gates, Donald Trump, Sir Richard Branson and Warren Buffett, I would rank as a proverbial nobody.
But one thing cannot be denied and that is the internal presence of a spirit the drives me to do new and great things. Yes, money is a factor but I also look to the good that can come about as a result of the money. In addition, the sense of pride in accomplishment that results from doing new and great things is something that cannot have a price-tag placed upon it. My thanks to Bill Crosby for sharing this article (see link below) that gives new meaning to the term “entrepreneur.”