Why Delusional And Audacious Entrepreneurs Give Entrepreneurship A Bad Name
An entrepreneur definition worth analyzing is that of entrepreneur Tara Hunt, after her potential investors rejected her business proposal:
"This is when you go and take a big drink. Tequila has been my favorite...Spirit is indeed what Tara displays in this stirring speech. Considering that she opens her entrepreneur definition by saying that she is 37 and for the first time as an adult she cannot pay her rent because she is "all in" on a venture that she knows not yet whether it will pan out, her words are without a doubt passionate.
What happened? What happened between that really exciting meeting and this?
It's like everybody that you've been talking to either directly or indirectly are telling you the same thing -- that they don't believe in you, that they think you have a stupid idea, that you're going to fail. You might as well give up.
Give up? Are you kidding me? Never!
This is my dream and we have a great team and...and...we have users and we have a product that is advancing day by day. We have a plan. You didn't even ask us to see our damn plan!
And look it! Lots of people believe in us. We believe in us. We just need you to believe in us... You're breaking my heart!
But you won't break my spirit.
But is she speaking like the kind of entrepreneur that you'd like to be?
Some might call her entrepreneur definition reckless. I call her unprotected and anyone who ventures out, plan in hand, with no backup for failure is not a wise entrepreneur.
Entrepreneur Definition Contains A Specific Kind Of FailureFailure for an entrepreneur should be an expensive lesson but not a complete vanquishing. In failure you may retreat to live and fight another day. But if instead you are vanquished, then you will not rise again. Entrepreneurs who fail, retreat. They don't disappear vanquished.
Tara creates a dichotomy between what she calls the "unclear path" of the entrepreneur vs. the fear of going mad if you do not even attempt to reach your dreams. But what if your dreams are indeed delusional? No amount of wishful thinking will change that into a successful reality. What you need is not to follow an unclear path but a path of clearly mitigated risk and manageable uncertainty.
Entrepreneurship is a discipline. It is a rigorous career and not for the faint of heart, but neither are medicine, engineering, firefighting or high-rise window cleaning for the fainthearted. And though, as Tara says, you must be "all in" to accomplish your entrepreneurial objectives, I very much disagree that you will need to follow an unclear path to succeed as one or that "all in" means that you will have no life to live except for your business venture.
On the contrary, the path of the entrepreneur is very precise, very definitive and very giving. Entrepreneur definition, like that of a surgeon in effectively conducting an operation, consists of both a finely tuned focus of purpose and a rich interwoving of relationships with customers and workers but, most importantly, family to improve its lot in life. A wise entrepreneur is no lone eagle.
However, as in the case with surgeons, there are many specializations in entrepreneurship and each operation has its own risks. The skill of the entrepreneur as that of the surgeon is put to the test in each operation, and any recent school graduate or intern is not ready to perform like an experienced practitioner of 20 years in the field.
This is why any fledgling entrepreneur should be determined to learn from those who have come before and who are willing to mentor the new entrant into the valuable discipline of entrepreneurship. How valuable is this discipline?
Entrepreneurs exercise superior foresight and judgment in identifying conditions that are out of kilter, where an effort at bringing them into alignment with each other yields a profit, thereby drawing the attention, by their handling of risk and uncertainty, of other people around these situations to exploit an opportunity for the benefit of everyone involved.
This is the value that entrepreneurs bring to social change in this world. Entrepreneur definition is summed up in their being scouts and spotters, and the spark plugs that ignite the engine of change in society. They're not delusional madmen.
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What Is A Useful Entrepreneur Definition To You?
Do you have a special way of defining what an entrepreneur is or does? What is entrepreneurship to you? Share it!