Dave’s Definition of Entrepreneur

Here’s Merriam-Webster’s definition of entrepreneur:

Entrepreneur: one who organizes, manages, and assumes the risks of a business or enterprise.

Well, that sounds scary. RISK! Merriam’s definition makes it sound like the job is “Professional Shark Handler.” It’s not! As an advertisement I saw in Boston awhile back (above) brings to light is that entrepreneurs—today, they do way more than organize, manage, and assume risk. I wholeheartedly agree that it’s time for some new definitions!

Yes, entrepreneurs do take risks. Lots of them. But, what entrepreneurs do more than anything else is to think outside the box. Their endeavors appear risky, because they are finding new ways to solve problems. It’s so easy to sit on the sideline and say, “Well, that won’t work.”

The risk is in being different than the rest, challenging the status quo, and doing something totally different. Entrepreneurs know that all their ideas won’t work. But, they know that they will never find out unless they believe in themselves and try to find unique solutions to interesting problems.

My Definition of Entrepreneur

So, if Merriam’s definition is flawed, what should it be? Here is how I would define entrepreneur:

Entrepreneur: one who organizes, manages, and assumes the risks of a business or enterprise and, thereby, reaps the rewards of such business or enterprise. 

The Merriam-Webster definition completely misses the whole point of being an entrepreneur. Rewards come in many different forms—money is only one of them. Relationships, and the opportunity to be significant in the lives of other people, are uniquely tied to entrepreneurship.

Missing the fact that entrepreneurs take on risk to reap rewards is like saying Michael Jordan was simply managing risk for his team when he demanded the ball at the end of every big game. It’s flawed logic designed to scare you into getting back in line and waiting for someone else to make your dreams come true.

Don’t buy Merriam’s definition of entrepreneur! Be entrepreneurial and create your own. Take on risk and reap the rewards.

We’re here to support you while you walk the Beachbody entrepreneurial path—you just have to take the initiative and reach out.