Why you are probably not an Entrepreneur
..and other hard truths…
If you listen closely to the buzz around the internet, the title “Entrepreneur” has become very widely used and it would almost seem that everyone has become an entrepreneur. Unfortunately, the reality is, owning a business or simply starting one does not make you an entrepreneur. Neither does creating images or videos and posting them on Instagram or YouTube. If you are a true entrepreneur, I guarantee you will find yourself nodding your head in agreement as you read through the following list. Here is a quick disclaimer: if by the end of the article, you find that you are indeed not a member of the “Entrepreneur Club”, this does not mean that your title is not important. :)
You are probably not an entrepreneur if you started your business after sitting in a meeting and paying $20 to $1000+ to get started. This process would make you a self-employed business owner. You have invested in a valid business idea and acquired the materials to get started, have begun promoting the services/products and are now functioning as a business. You can now proudly proclaim that you are a self employed business owner.
You are probably not an entrepreneur if you create great websites, logos, and other creative entities. If you are doing these things for money/income, and have set up your business in such a way that it is recognized by the state, congratulations! You are now the owner of a freelancing business, and can be affectionately called a “freelancer” for short.
You are probably not an entrepreneur if you started a cleaning, catering, event planning, lawn care or any other type of service industry business and you are doing all of the work in the company. This includes doing the actual job itself. You will not be considered a small business until you have employees and would therefore be consider “self-employed” or a self-employed business owner.
There are some who would not consider the owners of the above examples as business owners, however, by definition (according to dictionary.com), business is the purchase and sale of goods in an attempt to make a profit. The definition also includes a person engaged in a service. Therefore it is safe to conclude if you are selling a product or service in an attempt to make a profit, then you have a business.
So if I own any of the above mentioned business types and am a business owner, what would make me an entrepreneur?
I will discuss that in my next article. Not to leave you hanging, but I realized explaining the makings of an entrepreneur can be a little more time consuming than just simply giving you a quick definition. Just like understanding the differences in being a freelancer and being a business owner, entrepreneurship is not so cut and dry. As a matter of fact, you can actually be a combination of all the above. It just depends on your business and your level of involvement.
The bottom line.. owning a business does not instantly make you an entrepreneur. While the title may sound great, there are other things that come along with that title that further define your business “label”. Instead of searching for an intriguing way of explaining what it is that you do to those around you, be proud of the fact that you have taken a step that not many have dared to take.
There are 326 million+ people in the US alone and roughly only 27 million own their own businesses. That’s only roughly 8% of the US population that are business owners! So if you have started a business, go ahead and pat yourself on the back. You are one of the 8%, congratulations!
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