What exactly is an Entrepreneur? (The Economist)

[Singularity]

http://www.economist.com/blogs/schu...fsrc=scn/fb/wl/bl/whatexactlyisanentrepreneur

This article from the economist talks about two kinds of entrepreneurs:
"The first is the popular view: that entrepreneurs are people who run their own companies, the self-employed or small-business people. The second is Joseph Schumpeter’s view that entrepreneurs are innovators: people who come up with ideas and embody those ideas in high-growth companies."

Which one do you fit in with?


(If you are at your limit of reading articles in The Economist website, then open up the article in "Incognito mode")

 

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[MJ DeMarco]

Not sure why it matters. Both definitions seem highly applicable, doesn't need to be either/or.

IMO, an entrepreneur is someone who is able to pave their own road while serving the needs of others, preferably, the masses (for Fastlaners).

However, I would NOT call an MLM'er or a franchisee an entrepreneur - I'm sure that would generate some hate mail.

 

[IceCreamKid]

I would NOT call an MLM'er or a franchisee an entrepreneur - I'm sure that would generate some hate mail.

I hate you MJ DeMarco. Jk I actually love your message and your book.

I don't think an MLM'er is an entrepreneur, but I do feel that you can approach being a franchisee from an entrepreneurial angle. For example instead of buying a franchise the way most people do, why not find 5 struggling hamburger franchises and buy them in bulk at a discount. Then fix them up and sell them a few years down the road for profit.

I remember reading about how a 25-year old guy did this with Subway sandwich stores. He went from 1 store to 35 within 3 years.

 

[MJ DeMarco]

I remember reading about how a 25-year old guy did this with Subway sandwich stores. He went from 1 store to 35 within 3 years.

Ah, yes, very entrepreneurial. However, most don't take that approach -- they buy a franchise and become a general manager and enter into a lifetime of management and then pay royalties to the true entrepreneur, err, or Fastlaner.

 

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[IceCreamKid]

Ah, yes, very entrepreneurial. However, most don't take that approach -- they buy a franchise and become a general manager and enter into a lifetime of management and then pay royalties to the true entrepreneur, err, or Fastlaner.

You just described the last 30 years of my father's life. He bought a franchise and we never broke out of that middle class barrier. The founder of the franchise sold the company to Home Depot for millions and that's when things got REALLY ugly. They squeezed so many fees out of the franchisees to the point where it became almost impossible for the franchises to survive. Tons of them went out of business and the only reason why my dad's is still around is because he has built a loyal following over the course of decades.

No control. Blaze your own path. Because I can.

 

[cristian tello]

Blaze your own path.

So you are the genius behind the fb page with the same name ?

 

[IceCreamKid]

So you are the genius behind the gb page with the same name ?

No I think that's @Vigilante lol I will never take credit for the man's awesomeness. I just love his catchy phrases.

 

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[Gale4rc]

definitely the second.

had trouble getting the hang of the forum at first because it seems like most of the entrepreneurs here are based around the first

 

[benhebert]

Entrepreneurs look to change the status quo.

ie Mark Zuckerberg inventing Facebook

Businessmen excel and master the status quo.

ie Someone who owns a bunch of pizza shops

 

[RogueInnovation]

I don't call myself anything. Thats my own preference. Just call myself myself.

On another note though, I'm totally cool with running what already exists just as much as something new, because they both require diligence and both pay out in relation to how cleverly you approach it. The less barriers you have inside yourself, the more freely you can choose what to do without anyone telling you its the BS choice.

If I work at a store, as a freelancer, as a franchisee, as a manager, as the director of a startup, does it really matter?
Most guys need to get rid of the fear that keeps them trying to be "percieved better", and just take on the attitude that sees them know more about how to do what they want, and get what they need from it.

Just be an action taker. Believe in the job infront of you and kick its a$$. Because the job infront of you is the ONLY thing in your way you have control over, so go kick its a$$.

 

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