A wise man once said there are three types of people in the business world; the technician, the manager and the entrepreneur. Of these three, the one we all want to be is the entrepreneur. In the world we live entrepreneurs enjoy rock star status, and the hugely successful are seen as demigods; think Elon Musk, Steve Jobs, Richard Branson, Aliko Dangote, Patrice Motsepe, Isabel Dos Santos, Folorunsho Alakija. The list is endless. But what is an entrepreneur?
I recently returned from a 7 week stint in the US as part of the Mandela Washington Fellowship where I gained a great deal of insight and perspective on business, entrepreneurship and leadership. Before I left I was convinced I knew what an entrepreneur was, after all who doesn’t know what an entrepreneur is? We hear and read their stories every day. So let’s revisit the question; what is an entrepreneur? One definition I was given recently by a colleague was “a person who runs a start up that offers something innovative”. Another one, which I got when I googled “what is an entrepreneur”, said “a person who sets up a business or businesses, taking on financial risks in the hope of profit.” These definitions fall pretty much in line with what I previously thought an entrepreneur is. But what if I said to you someone who sets up or owns a business is a business owner and not necessarily an entrepreneur; or that there are some amazing entrepreneurs out there, working in other people’s businesses, who have no interest in ever setting up or owning a business?
Now that I have your attention, let me present a perspective. Many an entrepreneur, or business owner, will agree with the idea that at its core, entrepreneurship is about filling a gap or solving an identified problem. Entrepreneurs therefore are problem solvers; they understand that opportunity exists where there is inefficiency, and consequently never stop asking “how can this be fixed, changed, and done better?” I add; this problem solving mindset exists regardless of the environment. This means then, that being an entrepreneur is about having a particular mindset. The entrepreneur always starts with identifying problems or inefficiency, then looks for solutions, and develops a process to solve the identified problems; without any fear of failing. Now, have I described a mindset that is seen only in people who set up businesses? Of course not! In fact the mindset of the entrepreneur is absent in many who set up and run businesses, sometimes with great success!
I completely support the notion that every one of us should aspire to become entrepreneurs, especially today where business success has become so dependent on constantly pushing the proverbial envelope and highlighting our businesses’ unique point of difference. But let’s understand that not having the desire to set up a business is NOT the lack of a desire to become an entrepreneur. We can’t and shouldn’t all want to set up businesses; for the business to continue existing there has to be an employer, and there has to be an employee. So the next time you proudly declare that you are or want to become an entrepreneur remember that just because you own and run a business it doesn’t make you an entrepreneur; and just because you don’t own and run a business and maybe don’t ever wish to, it doesn’t mean you’re not an entrepreneur.
*Moroka is a Radio and television personality
