What Makes an Entrepreneur?

The late Robert F. Kennedy is credited with the following statement: "There are those who look at things the way they are, and ask why; I dream of things that never were, and ask why not."

Although first uttered in a political and societal context, the words can be applied with equal meaning to our nation's entrepreneurs. For anyone who has started a business, created a product or developed a technology has asked, "Why not?"

Entrepreneurs have the vision to see what is possible. They have the creativity to develop new approaches to old problems and to muster the right resources in the right combination to bring their dreams to fruition. And, they have the self-assuredness to see the vision become reality, often in spite of seemingly insurmountable obstacles.

For years, people have debated whether entrepreneurs are born or made. In the end, it makes little difference, as long as we continue to provide opportunities for them and create the right environment in which they can succeed.

Entrepreneurs not only benefit our economy by creating jobs, businesses and products, they ultimately help society by providing a necessary service, inventing tools that make life easier or offering subtle improvements to existing products or processes. Whatever their contribution, they leave things better than they found them, and that helps all of us. Some economists have called this the process of "creative destruction," whereby old ways of doing things and monopolistic companies are replaced by newer, more agile, more efficient and more effective solutions.

Contrary to popular definition, entrepreneurs are not by nature huge risk-takers or maverick in their approach. In reality, they are far more apt to carefully weigh their options and consider whether the short-term pain or sacrifice they may endure to bring their idea to fruition is worth the long-term gain. Neither optimists nor pessimists, they are realists who carefully approach their idea considering the advantages and disadvantages. Successful entrepreneurs know that failing to plan means planning to fail.

And while entrepreneurs are passionate about their idea for business ownership or product development, they are equally passionate about having control over their own lives. They are encouraged by the freedom to make their own decisions and chart their own course. They relish the chance to create opportunity for others, to give back to their communities and to maintain control over their own future.

Entrepreneurism appears wherever people have the will to make things better. But they can't do it alone. They need the support of friends and neighbors as well as investors. Some need education, training or technical assistance. And they need the support of communities to not only lure companies to the area but also to invest in the home-grown human capital in our own back yards.

Authored by: Mary Paulsell, Missouri Small Business Development Centers
Date Reviewed: 12/28/05