“The entrepreneurial vision is not about creating new products or services. It is all about creating a better way of doing something that enriches people’s lives.”
-Joe Love, entrepreneur
According to Forbes, there are 28 million small businesses in the U.S.
Over 22 million of those businesses are self-employed with no additional payroll or employees. They are non-employer businesses with average revenues of around $44,000 a year.
What does that mean?
Over 75% of small businesses start out as jobs.
Tech company, Manta, teamed up with Dell to interview more than 3000 small business owners (SBOs). Here is what they found:
49% of small business owners (SBOs) decided to start a business while working at their last job. (…and I can only imagine the decision came after they performed one too many of the “other duties as assigned” that appears in EVERY job description…but I digress).
The same survey found that 37% of entrepreneurs started their businesses to fulfill a life-long dream, compared to 28% who upstarted to achieve financial stability.
What images come to mind when you think about an entrepreneur? Rich. Successful. Jet-setting. You probably think of business moguls and billionaires like John D. Rockefeller, Jeff Bezos, or Jay-Z . Usually grit, glamour, and financial gain come to mind. But is it possible that society has painted a rosy picture about entrepreneurship?
Entrepreneurs create value.
“An entrepreneur is not a person who starts a company, but he is a person who actually solves a problem”.
-Naveen Jain, entrepreneur
Visionary Entrepreneurs Work Well “In-Between”
Entrepreneurship comes from the Old French word entreprendre, which means “to begin something or undertake”. Richard Cantillion was the first to use the term entrepreneur in reference to self-employed people (farmers, brewers, hat makers, etc.) who “bought or made a product at a certain cost to sell at an uncertain price”.
Dave Learner pointed out entrepreneurship comes from the Latin word meaning “between” and “prendre” meaning “to take.” It is rumored that the origin and history of this word in its original French context centers on the concept of a business person being “in between jobs”.
We can look at being “in-between jobs” in a few ways.
For example, many workers have found themselves unemployed in the wake of COVID-19. Others dropped out of the traditional labor market and into the gig economy pre-COVID. Yet, recessionary conditions have caused other unemployed folks to work for themselves, becoming small business owners by default.
In a labor market that has more job candidates than job openings, even full-time employees find themselves acting as if they are in-between jobs. This is evidenced by the constant need to prove (or essentially and continually market) themselves to their employers.
On the flip side, independent contractors and small business owners constantly seek contracts with both new and existing clients. Entrepreneurs are constantly on the hunt for job opportunities. Opportunities to exchange value by fulfilling a customer’s need. It’s the name of the game.
I have run my own non-employer small business since I was about 13. And even though I have multiple degrees, here is a piece of insight that no academic or certification program could teach me.
Visionary entrepreneurs flourish in the “in-between” times.
Visionary entrepreneurs flourish in-between their idea and the target market. In between customers and cash flow. In between their full-time job and part-time business. In between a vision for a better future and a stark reality. In between yes and no. Between starting a business and staying on their job for one more year. In between the proverbial “rock and a hard place.”
I encourage you to explore the in-between. Become comfortable with dealing with the uncertainties. Practice seeing beyond the challenges and rising above them to seize your opportunities. It may or may not come natural, but it is do-able. Visionary entrepreneurship starts with you and your business takes off on the runway of your dreams, goals and the things you want out of life.
If you have a dream to start a business in the future or want to grow your current business, a good starting point to assess where you are on that journey right now.
If you enjoyed this article, you may also enjoy:
- Are You a Visionary Entrepreneur?
- How I Organized My Business Idea using the B-I Triangle
- I’m Building My Boss’ Business…But What About My Own?
- Your Little Black Book of Business Ideas
- Leapfrog Over Your Obstacles
- Create a Plan That Reflects Your Dreams
Sources
Clifford, Catherine. “Fewer Americans Are Launching Businesses. Here’s the Silver Lining (Infographic)”.
