Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit.
However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern entrepreneurship definition is also about transforming the world by solving big problems. Like initiating social change, creating an innovative product or presenting a new life-changing solution.
What Is the Meaning of Entrepreneurship?
The meaning of entrepreneurship involves an entrepreneur who takes action to make a change in the world. Whether start up entrepreneurs solve a problem that many struggles with each day, bring people together in a way no one has before, or build something revolutionary that advances society, they all have one thing in common: action.
It’s not some idea that’s stuck in your head. Entrepreneurs take the idea and execute it. Entrepreneurship is about execution of ideas.
What the entrepreneurship definition doesn’t tell you is that entrepreneurship is what people do to take their career and dreams into their hands and lead it in the direction of their own choice. It’s about building a life on your own terms. No bosses. No restricting schedules. And no one holding you back. Entrepreneurs are able to take the first step into making the world a better place, for everyone in it.
Who is an Entrepreneur?
An entrepreneur is a person who sets up a business with the aim to make a profit. Besides, an entrepreneur can be defined as someone who starts a side hustle that can eventually create a full-time, sustainable business with employees. If your entrepreneurial mindset is focused on creating a profitable business, you fit the entrepreneur definition.
However, the entrepreneur meaning involves much more than being a business or job creator. Entrepreneurs are some of the world’s most powerful transformers. From Elon Musk sending people to Mars to Bill Gates and Steve Jobs making computers part of every household, entrepreneurs imagine the world differently. And the entrepreneur definition rarely ever talks about the enormous impact that entrepreneurs have on the world.
Entrepreneurs see possibilities and solutions where the average person only sees annoyances and problems.
Understanding what is an entrepreneur can help more people recognize the value they contribute to the world.
Main Differences between a Businessman and Entrepreneur
Are you a businessman or an entrepreneur?
Have you ever wondered what is the difference between these two? Business people and entrepreneurs have many similarities. They both provide jobs for the unemployed, give solutions to the consumers, and help developing the economy of a certain nation. However, they are not the same kind of people.
The following are 10 differences between a businessman and an entrepreneur:
1. On the originality of idea
2. On the purpose of doing
Most businessmen are doing business for profit, livelihood, for reaching their financial goals, and for becoming their own boss. Though, there are some business people who are not profit-oriented but people-oriented, that is, they are more concerned on the welfare of their workers and the satisfaction of their customers. Entrepreneurs are more concerned on changing the world. They want to pursue their passion and achieve an ultimate goal. They are not keen on financial returns, rather they are focused on what they can offer to the world. Their purpose for entrepreneurship is simply to make a difference in this world.