are microBusiness people entrepreneurs?

Does it matter? Maybe not, except for the fact that entrepreneurs are often thought of as rich, adventurous icons of the modern business world, and microBusinesses are to a great extent ignored. This leaves many micros with a small opinion of themselves, and that’s not the way to grow a successful business.

To many, the entrepreneur is a larger-than-life character of mythic proportions, who conceives of billion dollar ideas, wields influence over important people, and has mastered the art of acquiring venture capital. This, of course, is not the true definition of an entrepreneur.

I have interviewed many microBusiness people over the years, and I have discovered that many of them don’t think of themselves as entrepreneurs. This is especially true of soloists--the smallest of the small--and the micros who were once corporate people, but for various reasons have been forced to find a more organic way to make a living.

Webster’s defines entrepreneur as...
 “A person who organizes and manages a business undertaking, assuming the risk for the sake of the profit.”

Entrepreneurs are willing to take a chance in the marketplace

My own (overly simplified) definition of an entrepreneur is this: "a person with a good business idea who is courageous enough to go out on her own--against all odds--to try to make it a reality."

That idea could be as complex as producing a documentary on the recent discoveries from the ancient Mayan culture, or conversely, it could be an idea for creating a shoeshine business at the airport. The entrepreneur believes her business is viable, and wants to create this business so badly that self-financing is not only acceptable; it’s often the only source of start-up capital. An entrepreneur is not afraid to put her own money on the line. Does this sound like you?

Entrepreneurs often have the strong desire to create

On-the-job-training is often a key component of the entrepreneurial start-up. Virtually every entrepreneurial endeavor requires someone to start with the kernel of an idea, having limited knowledge of what lies ahead, and through the process of learning-by-doing, create something from nothing. Does that sound like you?

It’s your turn to be a larger-than-life character.

microBusiness owners are indeed entrepreneurs, and they wear an impressive array of hats. They're idea people, they're creators, they're risk-takers, they're financiers, they're managers, and they're the backbone and spirit of innovation that keeps America rolling. Our current economic crisis will give birth to thousands of new microBusinesses. And these entrepreneurs will play an important part in getting our economy back on track.

So, don’t let a recession postpone your dream creation. Now is the best time to begin. It's your turn to be the larger-than-life character of mythic proportions who wields influence over important people. And as a microBusiness creator that's the team you're joining.

“until one is committed there is hesitancy

I have kept this quotation from W.H. Murray in my desk drawer for decades. I re-read it every time I find myself hesitating in my own microBusiness.

“…until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then providence moves too. A whole stream of events issues from the decision, raising in one's favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way. I have learned a deep respect for one of Goethe's couplets:
     Whatever you can do or dream you can, begin it.
     Boldness has genius, power and magic in it!”

-- W.H. Murray

Comments

[Donna L. Johnson]

Lloyd,

Thank you for nailing the definition of an entrepreneur - Webster's definition was rather bland!

I'm an advocate for lifelong learning and have taken away a bit of knowledge from my very first visit to your blog. I now know that I'm a microbusiness owner.

You have great content here and I look forward to coming back!