How to Tell if You Are a True Entrepreneur

What exactly is the true meaning of "entrepreneur"? It's a word that is used freely and in various contexts. Let's take a few minutes to look at what being an entrepreneur really involves...and what characteristics lead to success.  The dictionary defines an entrepreneur as...

“a person who starts a business and is willing to risk loss in order to make money.” Notice there are two parts to the definition: starting a business AND risking loss. Anyone can announce a startup. But without truly investing yourself--time, money, energy, reputation--there is no risk. In fact, you're just a dreamer.

Steve Tobak, a contributor to Entrepreneur Magazine, says it bluntly: "Entrepreneur is not a job. Leader is not a job. Social media guru is not a job. If there’s no real expertise, no real product, no real business, no real risk, and no real prospect for return on investment, you’re not working. And you’re not an entrepreneur, either."

One of the criticisms of today's surge of self-declared "entrepreneurs" is that they really don't have careers, because they're basically unemployed. They have no incomes, and no real strategy to develop a company to sell a product or service. No profit equals no business. Period.

This is not meant to discourage you, but to motivate you to move toward genuine progress. Once you know what is NOT an entrepreneur, you can get a clear vision for your purpose and direction. You can begin your path to becoming a successful entrepreneur.

What are some characteristics of successful entrepreneurs?

• They love what they do--and take it seriously. Not only are they able to follow their passion, they truly believe their product or service has value. They ignore skeptics and stick with their work, every day.
• They have a business plan, including finances. A serious entrepreneur knows that a business plan is the road map. Alternate routes will happen, but overall, it's the strategy that drives the business in a prudent manner. 
• They network and self-promote. Entrepreneurs don't wait to be discovered. They work tirelessly to meet people, make connections, and tell their story. Because they are excited about their business, entrepreneurs know the importance of a positive self-image.
• They know their customers and provide outstanding customer service. Successful entrepreneurs study their ideal customers in order to develop the best marketing plan. Then they unfailingly deliver the best possible customer service, which results in customer loyalty and retention.
• They invest in themselves. While running a business often requires constant attention, authentic entrepreneurs know that time away is essential. As the driving force of their business, entrepreneurs may be tempted to work non-stop to keep things going. But leadership and customer service suffers when the entrepreneur gets run down--or burnt out. It's important to continue to learn and grow professionally. Time with family and friends brings relaxation and reminders of life's true gifts. These also make entrepreneurs positive role models.

Becoming an entrepreneur can be rewarding, both professionally and personally. Take time to see where you are on your path. Make adjustments as necessary, and continue to move forward. Take some risks and find your way to success!  Attend one of our events to continue your journey.