Redefining the concept of an ‘entrepreneur’

By Akram Sabbagh. Published at Apr 11, 2019, in Start Your Engines

An entrepreneur is not simply someone with an idea for an app.

Many people in business have everything it takes to be an entrepreneur but have never thought of themselves in those terms.

I say the definition of an entrepreneur needs to be expanded so Australia doesn’t miss out on the best business talent in the right roles.

In my conversations with business owners, I often rail against the idea that an entrepreneur is just someone with an idea for an app, a start-up or someone who juggles multiple roles.

An entrepreneur is anyone with business nous. You could be a 10-year senior manager in a firm or a student straight out of a business degree and you could be a first-class entrepreneur.

In my experience, there are four broad types of entrepreneurs:

  • The Builder: They relish taking an idea or concept and turning it into success from the ground up. They can create value and growth from scratch.
  • The Rebuilder:This rebuilder can take an existing business and give it new life – identifying what works and what doesn’t and making changes to bring it into a new age of success.
  • The Renovator: This renovator isn’t afraid to make changes to what works to see if it can work better. They’ll take an existing business with a strong core and make small changes on a daily basis to ensure it’s set for a bountiful future.
  • The Architect: The architect is someone who has strong vision and ideas and is always thinking creatively. Often found within the world of startups, they come up with the ideas that form the basis of a new business.

If this sounds like you, but you’ve never thought of yourself in these terms before, it’s time to start.

You could have what it takes to come up with the next great financial success story or steer a business from keeping its head above water to thriving and looking towards growth.

It’s not just an industry for young people, it’s not just an industry for people who work best by themselves, and it’s not just a tech-based space.

All you need to become a successful entrepreneur is the following qualities:

  • Hard work: Entrepreneurs don’t expect work to be done for them, they don’t delegate the hard things to other people and they’re tenacious and assertive.
  • They take action: Entrepreneurs are courageous, make decisions and aren’t afraid of embracing change and progress
  • Have a clear vision: Entrepreneurs have made plans and learn to back themselves in and stick to them. They are good communicators and can clearly explain their vision to others.
  • They constantly watch, listen and learn: Successful entrepreneurs are good at teamwork, listen to feedback and are always keen to learn new things. One thing they aren’t is stubborn or set in their ways – being a good entrepreneur means the ability to adapt.

So make sure you don’t dismiss the idea that you could become Australia’s next great entrepreneur – because you might already be on your way.

Second Squared is a business ownership accelerator with a difference. Rather than focusing on new products or technology Second Squared is primarily focused on the core element of business success - the entrepreneur who wants to own an already established business.

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