Today there is an abundance of ideas and and abundance of capital. The scarecity is in the availability of qualified entrepreneurs who can convert capital into a working company.
I get asked a lot about what it takes to become an Entrepreneur. Today’s definition of an entrepreneur is broad and includes just about anybody with an idea.
I believe an entreprenuer is a person who has a passion for building and scaling a sustainable company that can create jobs and wealth. Even though I have a lot of respect for small business owners, I don’t automatically classify all small business owners as entrepreneurs. Many are very happy running a small operation and have no intentions of wanting to see it grow or scale. To me, these are simply successful small business owners. Their passion is not in the same space as the passion of an entrepreneur. Another group of professionals often get thrown in the category and that is what I would call the “innovators.”
Not all innovators are entrepreneurs. Being an innovator means coming up with something new, something never before seen. This isn’t the same skill or scope as an entrepreneur. However, many innovators go on to become successful entrepreneurs. The difference is in the passion and focus of scaling a sustainable company vs. the pasion and focus on producing the innovative idea in and of itself.
Being an entrepreneur means:
– Being able to connect the dots across multiple spheres of knowledge in order to assimilate where the new opportunities in business will emerge.
– Having the courage, passion, and resolve to move forward every day with self-directed energy when every bone in your body says give up or go play golf.
– Possessing a willingness to actually drive fast into the fog without needing extreme clarity.
– Having the actual courage to step out and take the plunge. 99% of being an entrepreneur is in having the courage to actually get started and committing yourself to risk.
– Inspring ordinary people to do extraordinary things through vision, challenge, and role modeling.
– Insatiably curious as a constant learner on all things required to grow a company and grow personally.
Many corporate execs dream of starting their own company but the very skills that made them successful are the least important in starting a company. They have a romantic idea of being the owner but lack the practical understanding of the steps that must be taken, in what order, and at what velocity. They are afraid to Jump, and if they do jump, they don’t know where to start.