By Howard O 'Gollegos
Jan 20, 2011
Hard working small business owners are often called entrepreneurs tough in some case this may not be so. Though this may be a matter of definition, as a small business owner or self employed person simply replacing an income stream from an employee with one from your own business can hardly be described as entrepreneurial. This is something I have done and I suppose that is one way of looking at it. A colleague of mine would describe an entrepreneur as someone who generates large amounts of wealth whereas he would describe me a "lifestyle" business!
Whatever the successful entrepreneur is doing it s going to be risky, probably requiring high levels of innovation and market disruption. The rewards however will be high and if it all comes together they will come faster! A non entrepreneurial business owner will more than likely be operating in a less risky area, requiring less innovation probably with an existing product or service and competing on price alone.
So a small business owner is not necessarily an entrepreneur but I am sure their paths start in the same place and probably cross. Setting up a business may not, by definition, be entrepreneurial but it is one of the first steps. I can imagine most entrepreneurs will have gone through this process probably many times. Whether it be setting up as a sole trader, a limited company, buying a franchise or setting up a simple market stall you are following a path, beaten by many a successful entrepreneur before you.
To become successful as an entrepreneur you need to understand your own strengths, know your weaknesses and learn from your successes and mistakes. We generally view entrepreneurs, as business people who s...
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...ood one however a counter point is that true entrepreneurs are not developed, they are born. Or they come from some form of necessity (i.e. poverty). Obviously these are all true and all equally valid. The foundation for all of these is being clever and working hard. I don 't think I have ever met a successful entrepreneur who wasn 't smart and hasn 't worked hard, I 'm talking about really hard, to the detriment of family and friends. Having these two attributes is going to set anybody on the right track which ever route they take.
Entrepreneurs are being recognised for the benefit they bring to society and our economy. The supporting structures are in place to develop your entrepreneurial spark and as Peter Jones says have a vision, be confident, be results orientated, take action, use your influence and don 't underestimate your abilities. And as we say, be lucky!
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