Are you an Entrepreneur?

[Prop_Perspectiv]

Is this a term you relate to? I just read a really good article called "7 Lessons from Building a $15-Million-a-Year Lifestyle Business with No Loans, VCs or Angel Money".

I suppose I relate to the entrepreneur title a bit. I have to really work at staying focused on one venture at a time - one vehicle at a time in fact! I have dabbled in online business, shares, forex etc. Property is where my heart is (read; my passion) and I just have to make sure my flightly sense doesn't deviate too much. I think you can build lasting wealth with just about anything - as long as you are focused and don't give up.

This bit really stood out for me:

The problem with business plans is that they get you focused on the minutia rather than the vision.

Start with a vision. Preferably, in the words of Joe Vitale: ?One that SCARES you a little and EXCITES you a lot.?

Then develop a model to make that vision a reality. Work tirelessly towards building a beta ? but be prepared to test, pivot and move rapidly as you learn. In the words of Steve Blank: ?No business plan survives first contact with customers.?

Get out there and test, hustle, sell and grab customers. Quit planning and start doing.

 

[Truly Exotic]

My 2c,

when I hear someone is an entrepreneur , I think people who buy/start business/companies, then improve/value add or do very well because of environmental forces, and people who do this on a regular basis,

I do not consider someone who buys a franchise and works their butt off as an entrepreneur.

on the other hand, I find most of the people that call themselves an entrepreneur are no where near one, and are trying to stroke their ego and puff their chest to look better

 

[Mr. Fabulous]

You're a property investor, not an entrepreneur.

Also, this blog reads a lot like James Altucher. Personally, his writing is about a thousand times better and his podcast (The James Altucher Show) is fantastic listening.

 

[Prop_Perspectiv]

I've only just started looking into this sort of stuff as part of working on mindset. I've always thought of myself as a business person (I run a business with a partner as my bread and butter type income). Will definately be looking at James Altucher.

Is there negative connotations on the entrepreneur title now? Like it has been used too much/taken over by people "...trying to stroke their ego and puff their chest to look better"?

Property investor doesn't feel like it fits me. Not really. Or, maybe, it does now but I don't think it will in the future. What I want to do will be far more creative I feel.

Not needing an answer, just pondering (procrastinating?)

 

[sanj]

I've only just started looking into this sort of stuff as part of working on mindset. I've always thought of myself as a business person (I run a business with a partner as my bread and butter type income). Will definately be looking at James Altucher.

Is there negative connotations on the entrepreneur title now? Like it has been used too much/taken over by people "...trying to stroke their ego and puff their chest to look better"?

Property investor doesn't feel like it fits me. Not really. Or, maybe, it does now but I don't think it will in the future. What I want to do will be far more creative I feel.

Not needing an answer, just pondering (procrastinating?)

i dont think there are negative connotations re entrepreneur, i do agree with the previous post though, i wouldnt classify property investing or share trading as entrepreneurial

 

[Deltaberry]

Property investors are generally not entrepreneurs. They are normally engineers, carpenters, lawyers, accountants, sales people.

 

[Mr. Fabulous]

Is there negative connotations on the entrepreneur title now?

Not really. I network with a lot of different people from a wide range of professions who run their own businesses and (so far) no has said 'I'm an entrepreneur' when I ask them about their business.

When people ask me what I do, I tell them I'm a consultant. But that's because virtually no one outside of my profession has any idea what it is I actually do. It's just easier than trying to explain things for the hundredth time.

 

[pursefattener]

I think it's relatively easy to be an entrepreneur . It's an interesting word . Often confused with speculator .

I would describe someone like Nathan Tinkler as more of a speculator . Generally I would describe someone who starts businesses from scratch as an entrepreneur .

A friend of ours has started up a pet shop from scratch about two years ago and is doing really well . I would describe her as an entrepreneur . Most other family told her she would fail and should go out and get a proper job bla bla bla . Now most of them have green eyes . She is expanding into other lines and looking to start another shop nearby .

 

[nhg]

These days entrepreneur is anyone who is unemployed and/or is a day dreamer.

Intrepeneur is what they call themselves when they are still at a desk job yet don't want to feel left behind.

I have 5 friends who have photography businesses. I said I'd believe them when they started making more than $100 every 3 months at their Auntys kids birthday bash.

 

[Mr. Fabulous]

I have 5 friends who have photography businesses. I said I'd believe them when they started making more than $100 every 3 months at their Auntys kids birthday bash.

Fair suck of the sav! Everyone's gotta start somewhere. Do you own or have owned a business in the past?

I used to work as an assistant to a photographer once upon a time. He was immensely successful. He also told me that when he started out, he was broke and barely treading water for the first seven years.

It is exceptionally rare for anyone to start a business and start making serious cash almost straight away.

 

[nhg]

Fair suck of the sav! Everyone's gotta start somewhere. Do you own or have owned a business in the past?

I used to work as an assistant to a photographer once upon a time. He was immensely successful. He also told me that when he started out, he was broke and barely treading water for the first seven years.

It is exceptionally rare for anyone to start a business and start making serious cash almost straight away.

I started my business 6 months ago. Yes it is hard and no you don't make money at the start. I'm currently on a quarter of what I made in my previous paid employment.

I should have reworded it slightly differently. I don't consider posting photos of yourself sipping mochas on the beach with the subtitle 'living the life of an entrepreneur' as someone who is serious about business.

It is hard, hard work. The word entrepreneur is thrown around too often.

 

[ok180]

It is exceptionally rare for anyone to start a business and start making serious cash almost straight away.

Very true and often even if you are making a profit you are throwing it back into the business to expand etc. It can take quite a few years to start seeing the fruit of your labour.

 

[mumbai]

I should have reworded it slightly differently. I don't consider posting photos of yourself sipping mochas on the beach with the subtitle 'living the life of an entrepreneur' as someone who is serious about business.

It is hard, hard work. The word entrepreneur is thrown around too often.

I dont see any issues with posting photos sipping mochas .... They have to garner attention and thats how they are marketing their skills (even if they do not posses it). Entrepreneurs are anyone who takes risks hoping to generate profit. You dont need to be 'successful' to be an entrepreneur.

 

[jackbak]

Is there negative connotations on the entrepreneur title now? Like it has been used too much/taken over by people "...trying to stroke their ego and puff their chest to look better"?

It was a dirty word in the '80s but people look at it differently now.

To me an entrepreneur is someone who comes up with a new way of doing things and creates value from it. I don't think it needs to involve starting a business as most people think, you can be entrepreneurial in your every day life.

In relation to property investing I think the way some people add value to a property could be considered entrepreneurial.

 

[Prop_Perspectiv]

In relation to property investing I think the way some people add value to a property could be considered entrepreneurial.

Yes! This. It is about being creative and bullish I think.

 

[pursefattener]

We need more entrepreneurial types here in Australia I think .

There is something about failure that we don't do so well here but is much more acceptable in the US . I m not talking about repeated , foolish mistakes but rather someone who has had a red hot go and gets their hide nailed to the wall . They should be able to make a new start .

I admit I have no idea what the solution is .

Play it safe and get a nice fluffy govt job with generous perks and super etc then die a boring old man/woman .

 

[sanj]

I think it's relatively easy to be an entrepreneur . It's an interesting word . Often confused with speculator .

.

it might be easy to be one but its not so easy to be a successful one. are you speaking from experience?

 

[nhg]

We need more entrepreneurial types here in Australia I think .

There is something about failure that we don't do so well here but is much more acceptable in the US . I m not talking about repeated , foolish mistakes but rather someone who has had a red hot go and gets their hide nailed to the wall . They should be able to make a new start .

I admit I have no idea what the solution is .

Play it safe and get a nice fluffy govt job with generous perks and super etc then die a boring old man/woman .

Not sure if it is just my perception being in a particular social circle, I find a lot of people are giving business a go. Some more seriously than others.

The reason I find they don't try TOO hard is the alternative is a cruisy ok paying job. Not so much to make them rich, but it provides enough comfort to make them hesitate.

I read (possible in the millionaire next door) that the highest % of driven people come from the upper-middle-class. Enough support not to worry about the basics, and not wealthy enough to become complacent.

 

[pursefattener]

A few weeks ago I had to sit through all the formal stuff of my daughters formal ball which involved over 100 year 11 Kids . Each time there is the usual spiel about what their interests are , uni plans and life ambitions and the rest of it .

You know , not one of these kids wanted to start a business or do anything a little risky . Well , a couple of the girls wanted to marry billionaires but that's about as exciting as it got . I just wanted to hear someone say how they would start a business and take it public and no ones going to stop me get out of the way .. But no . Guess I'm just getting older and grumpier .

 

[nhg]

A few weeks ago I had to sit through all the formal stuff of my daughters formal ball which involved over 100 year 11 Kids . Each time there is the usual spiel about what their interests are , uni plans and life ambitions and the rest of it .

You know , not one of these kids wanted to start a business or do anything a little risky . Well , a couple of the girls wanted to marry billionaires but that's about as exciting as it got . I just wanted to hear someone say how they would start a business and take it public and no ones going to stop me get out of the way .. But no . Guess I'm just getting older and grumpier .

Straight out of school, I just wanted to get a degree. I wasn't the most imaginative or ambitious kid, that kicked in when I turned 20 something.

There was a few young business owners at my school. One was 15. His dad worked for him, some million dollar IT company. Or so the rumors went.

Cherrybrook Technology. Good school, interesting mix of individuals.