What is your definition of entrepreneur?
Speaking at an entrepreneur event in Egypt earlier this week with President Carter, he mentioned how President George W Bush had reportedly said “the French don’t have a word for entrepreneur.”
A quick Google will tell you that the word entrepreneur is a loanword from the French verb “entreprende”, which means “to undertake”. That sounds quite fitting, as entrepreneurs are always undertaking new challenges and coming up with new ideas.
Joseph Schumpeter’s definition is pretty good. “Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services.” Peter Drucker was onto something too when he made the following definition in 1964: ” An entrepreneur searches for change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.”
But to me, being an entrepreneur simply means being someone who wants to make a difference to other people’s lives.