Say YES! to Success Peg Stookey – Founder of Legacy Connection

What We Are: DEVELOPERS of Entrepreneurial Mindset

What is an "entrepreneur"?  This series of posts is my attempt to enlighten us all on this vast topic.  I'd love to hear what you think being an "entrepreneur" is!!

I was recently posting an article to www.franchiseprofs.com which lead me to think about what is means to be "entrepreneurial".  Literally, I'VE EXPERIENCED MORE CONTROVERSY OVER THIS TERM THAN AROUND ANYTHING ELSE THAT I/WE DO!

Here's an excerpt of what I wrote:

The Encarta dictionary defines it (entrepreneur) simply as “risk-taking businessperson, somebody who initiates or finances new commercial ventures”.  I’m going to have to write to Encarta and respectfully DISAGREE!

First, you can’t possibly sum up the definition of something so complex in a mere 12 words.  I tried searching “entrepreneurial” to see if I got anything different.  The same definition came up.  I tried the thesaurus and got words like capitalist, industrial, consumerist, consumer, commercial.  Still-way off the mark!  For one thing I know many entrepreneurs that can’t seem to finance even the smallest venture yet they hang on!  I also know a number of investors that are financing ventures.  I REALLY don’t think that makes them an entrepreneur.   I do agree that two of our (I consider myself an entrepreneur) characteristics are risk-taker (in the sense that we’re willing to take a risk-just  not stupid risks), and that we are initiators.  But, as a whole, that definition is just way to limiting.

So, here’s what I’m going to do.  Rather than wasting time fighting with the powers that be at Encarta, I’m going to simply redefine this so misunderstood word-FOR OUR PURPOSES.  Why can I do that?  BECAUSE I’M AN ENTREPRENEUR.  I create my own future.  I’m willing to risk being misunderstood for the reward that it will bring us all.  I’m proactive and ready to step into the fray.  I’m centered on my mission and willing to overlook an inconvenient untruth to stay focused.  I’ve surrounded myself with others that support me in this thought.  Because I’m the boss of me and I say I can.

ENTREPRENEURIAL (as defined by Peg Stookey, one who lives the word-how many at Encarta can say the same?): a state of mindset and of being that reflects ones commitment to seek new opportunity, to fill a gap of need, to create, to generate, to seek, to ask compelling questions like, “What if…?”, “Can I….?”, “How do I….?”,  to take control of ones future, and yes, to find the best way to make money in doing so.

Another definition:  LEGACY ENTREPRENEURISM

This is a concept that I work under that, in essence, is entrepreneurism with a higher, more personal purpose.  In my world, “legacy” equates to choice and to long lasting, or sustainable, success.  Putting them together it means that we consciously make choices today that will affect our future and the future of our descendants and perhaps, of the descendants of those that we touch with our businesses, products, services, relationships, etc.

Legacy Entrepreneurism is a phrase that I use to mean that by activating and leveraging entrepreneurial mindset an individual can accelerate and take control of their future, making choices that will lay a firm foundation for future success and lead to the creation and growth of efficient, profitable and valuable businesses.

Why are these definitions important to you?  Why do you care how WE define "entrepreneur"? Maybe you don't but.......I believe that it's a critically important level of awareness (remember that I love to say that "lack of awareness is the root cause of ALL failure!"  Do you really WANT to succeed?).  Most people that are starting businesses today (upwards of 90%!) come from long-term, employee situations.  They have learned VERY well how to be a good employee, how to play the game, how to climb the ladder, how to negotiate the politics.  NOW, for whatever reason, they are suddenly starting a business.  Is it any wonder that they are operating from "employee mindset"?  Does it make sense to you that remaining in employee mindset is largely responsible for small business failure?

WHERE/WHEN DO YOU FIND YOURSELF SLIPPING INTO EMPLOYEE MINDSET?  Do you blame others or are you accountable for ALL?  Do you take initiative or do you wait for others to do so?  Do you seek opportunity or complain that there is none?  Do you see yourself as the CEO or as the "technician" of your business?  DO YOU REALLY GET THAT YOU CAN GENERATE $$$$?????

Please read this last sentence again.....DO YOU REALLY GET THAT YOU CAN GENERATE $$$$?????  That's what sets YOU apart from those with employee mindset/skill set.

To YOUR success!

Peg

About Peg

Peg is a passionate entrepreneur, wife and mother (of 4 kids and 3 dogs). She loves to write and to share what she's learning by working with business owners, as a parent, reading, training or general life experience. Through her blog she hopes to create discussion and to continue to learn as she also has the privilege of teaching! More than anything, she wishes for you to grab the brass ring and say YES! to success!