Entrepreneurship Defined And Explained

What It Really Means To Become An Entrepreneur

To become an entrepreneur has become a very important part of today’s society and people are increasingly joining the trend. It is very fashionable now to start a business than it was in the past especially in Nigeria given what it has to offer.

To become an entrepreneur has become a viable alternative to the failings of the Nigerian government in the area of job provision.

Our focus though is not on why people want to become entrepreneurs but on what entrepreneurship really is. There are a lot of definitions of entrepreneurship given the very many dictionaries available to us.

However, we want to take a practical approach to the entrepreneurship definition. By practical approach, I mean we will look at what entrepreneurs who have successfully run a business are saying what it takes to become an entrepreneur.

I came across an article by Paula Fernandes of businessnewdaily.com  and it gives me a direct link to what entrepreneurs are saying on what it takes to become an entrepreneur. She interviewed these entrepreneurs and their revelations on what it takes to become an entrepreneur are mind-blowing.

To become an entrepreneur goes beyond opening shop or hawking wares on the street. It is much more than that.

I know you are curious now. Maybe this guy should get this over with and be done with it. I will. Just a little longer. Stay with me and I know you won’t regret it.

Have you ever wondered why people would rather get a job and be comfortable than becoming an entrepreneur and becoming financially independent? It is easier to work for someone that is by extension, working for money than getting people to work for you.

When people work for you, money works for you. To become an entrepreneur guarantees that. This and other things are what the definitions and explanations of what it takes to become an entrepreneur or simply entrepreneurship as the interview by Fernandes show.

Let us get to the point.

Definitions Of Entrepreneurship: What It Takes To Become An Entrepreneur

  • “Entrepreneurship is at the core of the American dream. It’s about blazing new trails, about believing in yourself, your mission and inspiring others to join you in the journey. What sets [entrepreneurs] apart is the will, courage and sometimes recklessness to actually do it.” – Derek Hutson, CEO of Datical


  • “Entrepreneurship is the persistent progression towards an innovative solution to a key problem. It’s the constant hunger for making things better and the idea that you are never satisfied with how things are.” – Debbie Roxarzade, founder, and CEO of Rachel’s Kitchen


  • “At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is about imagining new ways to solve problems and create value. Fundamentally, entrepreneurship is about … the ability to recognize [and] methodically analyze [an] opportunity, and ultimately, to capture [its] value.” – Bruce Bachenheimer, clinical professor of management and executive director of the entrepreneurship Labat Pace University


  • “It is important to balance strong vision with a willingness to embrace change. The ability to listen, whether it be to the opinions of  customers or employees, is also integral to success. While you must have the confidence to make your own choices, it is still incredibly important not to become detached from the people whose needs you are trying to meet. – Tirath Kamdar, founder, and CEO of TrueFacet


  • “Being an entrepreneur is like heading out into uncharted territory. It’s rarely obvious what to do next, and you have to rely on yourself a lot when you run into problems. There are many days when you feel like things will never work out and you’re operating at a loss for endless months. You have to be able to stomach the roller coaster of emotions that comes with striking out on your own.” – Amanda Austin, founder and president of Little Shop of Miniatures.


  • “To be a successful entrepreneur you must have a passion for learning– from customers, employees and even competitors.” – James Bedal, CEO of Bare Metal Standard


  • “To me, entrepreneurship means being able to take action and having the courage to commit and persevere through all of the challenges and failures. It is a struggle that an entrepreneur is willing to battle. It is using past experiences and intelligence to make smart decisions. Entrepreneurs are able to transform their vision into a business. I believe this process is at the core of any true entrepreneur.” – MJ Pedone, founder, and CEO of Indra Public Relations


  • “Being a successful entrepreneur requires a great deal of resourcefulness because as an entrepreneur, you often run into dead ends throughout the course of your career. You need to be able to bounce back from losses if you want to be successful. There will be much more disappointment than progress when you first start off, and you need to have a short memory in order to put the past behind you quickly. It’s imperative to stay optimistic when bad things happen.” – Vip Sandhir, founder, and CEO of HighGround


  • “Entrepreneurship is the ability to recognize the bigger picture, find where there’s an opportunity to make someone’s life better, design hypotheses around these opportunities, and continually test your assumptions. It’s experimentation: Some experiments will work; many others will fail. It is not big exits, huge net worth or living a life of glamour. It’s hard work and persistence to leave the world a better place once your time here is done.” – Konrad Billetz, co-founder, and co-CEO of Offset Solar


  • “[Entrepreneurs] have to be people-oriented. Your business will die without a good team to back you up. Study management techniques, learn from great leaders, review where you’re succeeding and failing so you can help others improve. An entrepreneur has to be able to build a team that cares about their work, and to do that you have to care about how you create your team.” – Jonathan Barnett, founder, and CEO of Oxi Fresh Carpet Cleaning


  • To be a successful entrepreneur you need perseverance. Most successful business people or entrepreneurs have never given up on their idea. When challenges arise, they have found innovative ways of overcoming them. You must be able to adapt to changing economic conditions, and innovate and embrace technological advances to keep your customers engaged. These things take determination and a strong focus on the end goal.” – Stacey Kehoe, founder of Brandlective Communications


  • “Entrepreneurship is the mindset that allows you to see opportunity everywhere. It could be a business idea, but it could also be seeing the possibilities in the people that can help you grow that business. This ability to see many options in every situation is critically important; there will be unending challenges that will test your hustle.” – Preeti Sriratana, co-founder, and COO of Sweeten.

I believe you have enjoyed the ride through the entrepreneurship journey. It was interesting to me and revealing too. Hope you also had the same experience. I believe you now understand better what it takes to become an entrepreneur.

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