Entrepreneur homework



Everyone wants to be an entrepreneur!

The word sounds sexy, inviting, welcoming, life-changing. Those are the dreams that are sold.

I’m Jim Duggen, Donkey Butler

Sounds better as:

I’m Jim Duggen, Entrepreneur

In the same way that:

 I’m Karen Cage, Boil Lancer Extraordinaire

Is improved to:

I’m Karen Cage, Entrepreneur


Deciding on the type of entrepreneur you want to be

You can be an ‘Entrepreneur’ just by calling yourself one. I’m an entrepreneur!

There are 4 states of Entrepreneur:

  • Self proclaimed – A person who called them self an Entrepreneur.
  • Actual – A person who has succeeded to the level we perceive to be an Entrepreneur through certain criteria (see below).
  • Celebrated – A person who has been heralded as an Entrepreneur, who has a reputation as one and uses this reputation to extend beyond.
  • Failed – That Entrepreneur who had it but gave up on striving, had a bad run and retired.


How to assess whether you are the Entrepreneur

It’s all about perspective.

There is no stated guideline on the amount of money you had to earn to be a successful Entrepreneur. You don’t even have to earn money if that is not what is valuable to your business.

Potentially everyone is an Entrepreneur because Human nature is to seek to fit in to the community we are surrounded by. We capitalise on enterprises, we seek out jobs to be filled, we undertake business.

We do something for value. We work. We pursue.


The dictionary determines that…

Entrepreneur is a noun and means the following:

  • a person who sets up a business or businesses, taking on financial risks in the hope of profit. – Oxford Dictionary

So a successful entrepreneur in this case is one who has a business and assumes the financial risk with a slim hope that they get more than what they spent.

  • a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. – Dictionary.com

Similar to the above only this time not limited to a business per sé. It mentions that Risk word again. Initiative is mentioned, a key attribute of an entrepreneur.

  • a person who organizes, operates, and assumes the risk for a business venture – www.thefreedictionary.com

An approximation of the the two above. The mention of the “venture” makes an entrepreneur sound like an adventurer.

  • a person who starts a business and is willing to risk loss in order to make money – www.merriam-wesbster.com

In this case the Entrepreneur is the “Initiator”.

  • someone who starts their own business, especially when this involves seeing a new opportunity – dictionary.cambridge.org

Cambridge mention nothing of risk and are the only ones to mention opportunity.


Criteria for an Entrepreneur

  • A business owner
  • Someone capable of dealing with risk, especially financial
  • Someone with initiative
  • A motivated individual
  • Opportunistic
  • Adventurous

What is not defined but is passively implied:

  • Being successful
  • Earning money


Quickest and easiest way to be an Entrepreneur

Sell something on eBay.

eBay is really the quickest way. You essentially become a second hand goods vendor. That is a business, the risk is that your item doesn’t sell, your profit is making more than the postage cost. Yes, you are selling your item for less than you bought it (in most cases) but you are making a second income. You are an Entrepreneur.

So remember, the next time you sell something on eBay, you are an entrepreneur!

2 Comments Entrepreneur homework

    1. Jackson Davies

      Hi Yourfriend, thanks for your comment! Your statement is very true. Being a boss of your own is one of the key attributes of an entrepreneur. For many it is also a goal because having your own autonomy (rights to decide). High autonomy is the key to work liberation. I seek that myself. Best wishes to you!


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