What is Entrepreneurship? Entrepreneur Definition and Meaning

What is Entrepreneurship?

Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit. However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern entrepreneurship definition is also about transforming the world by solving big problems. Like initiating social change, creating an innovative product or presenting a new life-changing solution.

It can even help lower unemployment rates through job creation to help reduce poverty. Entrepreneurship is what people do to take their career and dreams into their hands and lead it in the direction of their own choice. It’s about building a life on your own terms. No bosses. No restricting schedules. And no one holding you back. Entrepreneurs are able to take the first step into making the world a better place, for everyone in it.

What is an Entrepreneur? Entrepreneur Definition

An entrepreneur is a person who sets up a business with the aim to make a profit. This entrepreneur definition can be a bit vague but for good reason. An entrepreneur can be a person who sets up their first online store on the side or a freelancer just starting out.

The reason why they’re considered entrepreneurs, though some disagree, is because where you start out isn’t where you’ll end up. An entrepreneur is someone who starts a side hustle that can eventually create a full-time, sustainable business with employees. Same with the freelancer. If you’re focused on creating a profitable business, you fit the entrepreneur definition.  

However, the entrepreneur meaning involves much more than being a business or job creator. Entrepreneurs are some of the world’s most powerful transformers. From Elon Musk sending people to Mars to Bill Gates and Steve Jobs making computers part of every household, entrepreneurs imagine the world differently.

Entrepreneurs see possibilities and solutions where the average person only sees annoyances and problems.

Understanding what is an entrepreneur can help more people recognize the value they contribute to the world.

What is the meaning of entrepreneurship?

The meaning of entrepreneurship is complex. The meaning of entrepreneurship involves an entrepreneur who takes action to make a change in the world. Whether startup entrepreneurs solve a problem that many struggle with each day, bring people together in a way no one has before, or build something revolutionary that advances society, they all have one thing in common: action.

It’s not some idea that’s stuck in your head. Entrepreneurs take the idea and execute on it. Entrepreneurship is about execution of ideas.

Entrepreneur Meaning from Real Entrepreneurs

“It’s all about doing something better than it’s been done before. Making something simpler, cheaper, more enjoyable. We live in world where creating ‘brand new’ products is difficult, but perfecting and improving a product, service, or delivery of product is easier to do.” – Adam Pearce, Director of Marketing and Management at Blend Commerce  shares his entrepreneur quote.

“If you think it’s in you, just start. Building your own business is not for everyone. You need to really ask yourself if you are ready to dedicate and sacrifice everything around you for what you hope to build.” Parker Burr, founder of Feat Socks gives the advice few follow in his entrepreneur quote.

“I think in today’s business climate being an entrepreneur is as it’s base level creating something of your own. It can start as something small, but having your own source of income that you create directly is easier to do that ever with so any tools. From there you can test, see what is scalable and then go all in.” – Travis Nagle, cofounder of Stem.

Importance of Entrepreneurship

Entrepreneurs are often superhumans. Their business skills include being smart, creative, and ambitious. An entrepreneur is the person who sees a problem in the world and immediately focuses on creating the solution. They’re the leaders that strike out on their own to improve society. Whether they’re creating jobs or a new product, they constantly take action to ensure world progress. In the process of understanding what is entrepreneurship, let’s look at why entrpreneurs are important in society. 

Why Do People Become Entrepreneurs

With over 400 million entrepreneurs, entrepreneurship has an international appeal. Every entrepreneur has their own ‘why’ that drove them to dive into being their own boss. Whether entrepreneurs need more freedom or to make the world a better place, they all take control of their life by living life on their own terms. Here are a few of the reasons why people become entrepreneurs:

Examples of Entrepreneurs

Walt Disney cofounded the Walt Disney Company one of the leading motion picture studios. He was also the visionary of theme parks like Disneyland and Walt Disney World. His brand started with the creation of the Mickey Mouse character and eventually expanded to include characters like Snow White, Cinderella and more. As an entrepreneur, he had to overcome adversity with challenges such as people stealing his work, commercial failures and more. However, he kept pushing through staying committed to his vision.

Mark Zuckerberg created several products before building Facebook. He created an instant messaging tool that his father used in his dentistry practice to communicate with his receptionist. Zuckerberg also created music software that Microsoft and AOL were interested in buying even though he was only a teenager. Within the year he first founded Facebook, he had already had 1 million users. Today, Mark Zuckerberg has a networth of $68.3 billion.

Sara Blakely first started her Spanx brand in 1998. She was one of the first creators of women’s leggings. Her brand specializes in shapewear and also includes bras, panties, hosiery and more. She’s also the inventor of arm tights which allows women to wear their summer clothing year round. At one point, Blakely was the youngest self made female billionaire.

Tips for Aspiring Entrepreneurs

“Being a successful entrepreneur does not mean being impulsive with your risks. Always be strategic, plan excessively and run your ideas by trusted people. Measure measure measure! Look at what you’re doing, observe what you see is working and tailor your strategy often (monthly at least). Stay sane—Entrepreneurs live and breath work. It’s important to take time for self-care.”  – Daffnee Cohen, founder of Daffnee’s Boutique

“My best advice for an entrepreneur, always start small and build every day.  Start off as a side hustle and build your company to the point where it is successful enough to support you and your family and then go all in!  Put in the long hours, join clubs and groups and make connections.  Listen to other people’s advice that have been in your shoes and benefit from their advice.   A great mindset for an entrepreneur is that you can take over the world on your own, but as your company gets larger this mentality will hurt you more than it will help you. If you want to grow your company you need to let people help you.  Your company can only grow so much with one person doing all the work.” – Chris Gronkowski, CEO of Ice Shaker  

“Collaborative is the new competitive. Some level of competition is healthy, but when your goal is to beat out another company by being faster or cheaper, you’ll run yourself into the ground. Instead, figure out ways you can align yourself with businesses in a collaborative and mutually beneficial way.” – Jess Ekstrom, founder of Headbands of Hope.

“Do shit. Don’t think anything is going to drop in your lap. Sometimes it seems like nothing is moving and all the effort you’re putting in isn’t working. But if you truly believe in what you’re doing, a spark will come. Put the pedal down to the floor!” – Ari Banayan, founder of Habit Nest.

Entrepreneur Quotes

“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” – Peter Drucker, entrepreneur quotes

“From my very first day as an entrepreneur, I’ve felt the only mission worth pursuing in business is to make people’s lives better.” – Entrepreneur quote from Richard Branson

“A person who sees a problem is a human being; a person who finds a solution is visionary; and the person who goes out and does something about it is an entrepreneur.” – Naveen Jain’s entrepreneur quote


“Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people can’t.” — Student (unidentified) of Warren G. Tracy’s entrepreneur quote

“An entrepreneur is someone who jumps off a cliff and builds a plane on the way down.” — Entrepreneur quotes from Reid Hoffman

“It’s not about ideas. It’s about making ideas happen.” – Scott Belsky, co-founder of Behance.

“There’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.” – Phil Libin, CEO of Evernote.

“Being an entrepreneur is a mindset. You have to see things as opportunities all the time. I like to do interviews. I like to push people on certain topics. I like to dig into the stories where there’s not necessarily a right or wrong answer.” – Soledad O’Brien

Entrepreneur Ideas

A startup entrepreneur can build almost any type of business. Here are a few business ideas to get you started:

What are entrepreneur skills?

The most popular entrepreneur skills are marketing, business development, customer service, leadership, execution, resilience, focus, determination, talent acquisition, continuous learner. Want to find more popular entrepreneur skills? Check out these business skills.


In this article, you learned what is entrepreneurship, what is an entrepreneur, discovered the entrepreneur definition from first-hand accounts from popular startup entrepreneurs. Many falsely believe that entrepreneurs are only in it for the money, but many entrepreneurs care about a cause so intensely that they build an empire to solve some of the toughest problems society faces. If you’re looking to make your mark on the world, solve a big problem or advance society, consider entrepreneurship as your next step. You could just be the person to change the world.

What first attracted you to entrepreneurship? Let us know why you became an entrepreneur in the comments below.

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Nicole Martins Ferreira: Nicole Martins Ferreira is a self-employed eCommerce entrepreneur. Her passion for eCommerce is so strong that she works on her website 7 days a week and has never been happier. She is committed to helping others succeed and is constantly learning new tricks to provide more value to entrepreneurs. Follow Nicole on Twitter at @NicoleMarFer
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