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Opportunities and Entrepreneurs

July 18, 2007

We spent a long time trying to define what an entrepreneur is and who qualifies as an entrepreneur and who doesn’t.

We talked a lot about risk and that an entrepreneur has to start a business, but we didn’t talk much about opportunity. After spending the week thinking about this, it would seem to me that an entrepreneur is someone who takes advantage of a business opportunity in the face of personal risk. With that idea then, almost all of the examples we discussed could be considered entrepreneurial because they all involved someone taking the initiative to seize a business opportunity.

This would also mean that in some sense an entrepreneur is someone who can recognize opportunities.

This opens up a lot of other questions though. What classifies as a business opportunity? Are all business opportunities entrepreneurial? If not which ones are and which ones are not? Does an opportunity have to have the potential to make money for it to be entrepreneurial or can non-profits and similar ventures be considered entrepreneurial?

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