Problem with "entrepreneurs"

Edition 27th: What it really means to be an independent business owner

These days, everyone wants to become an entrepreneur. They want a fancy title but have no substance. I feel we are putting grand values into what it means to be an entrepreneur.

The tea shop from where I'm writing this newsletter is also a business. It's simple, I pay for my tea, they have a certain margin and earn the money. You don't have to raise Millions of dollars, have a huge office, or get featured in tech crunch to become an entrepreneur.

What you need is customers willing to pay money for your product/service.

I was reading Re-work by Jason's friend and came across this essay on “entrepreneur”.

Let’s retire the term entrepreneur. It’s outdated and loaded with baggage. It smells like a members-only club. Everyone should be encouraged to start a business, not just some rare breed that self-identifies as an entrepreneur.

There’s a new group of people out there starting businesses. They are turning profits yet never think of themselves as entrepreneurs. A lot of them don’t even think of themselves as business owners. They are just doing what they love on their own terms and getting paid for it.

So let’s replace the fancy-sounding words with something a bit more down-to-earth. Instead of entrepreneurs, let’s just call them starters. Anyone who creates a new business is a starter. You don’t need an MBA, a certificate, a fancy suit, a briefcase, or an above-average tolerance for risk. You just need an idea, a touch of confidence, and a push to get started.

Self-employment is also a form of business. I know many independent designers who are making $100K+ via freelancing, many veterans in their field who make courses and earn a great living by selling them, or creating e-books and selling them over Gumroad or Amazon.

It’s not binary i.e. it’s a full-time job or else you should start your startup. Many people end up doing that when they quit their job due to peer pressure.

It is easier to say you are a founder at XYZ than you are earning your living while selling courses/e-books over the internet. Although the latter is often profitable, low investment, and can be tested faster.

Self-employment is a form of entrepreneurship. We should ridicule someone as a PDF hustler if they giving value to people by selling their PDF. No work is shallow work, what matters is are you able to sustain it? Is it fun for you?

Never forget, the most important function of any business is to improve your lifestyle.

Cartoon credits: Here