Becoming entrepreneurial is very much like learning a new language. While others are headed off for another predictable day, entrepreneurs are thinking about ambiguity, uncertainty and, even, paradox.
Eavesdrop on a group of self-employed folks at your neighborhood coffee shop and the conversation bears little resemblance to those overheard in an employee lunchroom.
To aid in the transition, I’ve created The 21st Century Entrepreneur’s Lexicon to help you become fluent as quickly as possible.
Adventure—any undertaking, the outcome of which cannot be known at the outset
Boss—a four-letter word that is banished, unless, of course, it’s what other people call you
Businessperson—Duncan Bannatyne said it best. “Business is not the same thing as being an entrepreneur. Businessmen have fat bellies, red braces and pin stripe suits.
“Entrepreneurs do their own thing to create a business. I want to raise the profile of the entrepreneur and make it a sexier word so that more people will do it.”
Collaboration—working with kindred spirits to produce a project or product of mutual benefit; far more satisfying than the old competition model of business
Comfort zone—place to avoid or exit from quickly
Creativity—the secret weapon of entrepreneurs
Dreambasher—one who attempts to interfere with the dreams of another; also known for nipping their own dreams in the bud
Dreambuilder—person assuming responsibility for creating the life of their dreams
Expense—financial outlay used to run a business
Failure—an option often mistaken for running out of patience
False security—trusting someone else to take care of you
Fun—the acid test of a good idea
Homework—gathering information, doing research, talking to trusted allies; a preliminary to taking action, but not a substitute for action
Inspiration—an entrepreneur’s trusted invisible friend
Integrity—the cornerstone of any worthy enterprise
Investment—financial outlay spent in the expectation of a greater future return
Kindred spirit—those folks whose faces light up when you walk in the room
Laughter—sound emanating from the Joyfully Jobless throughout the day
Lifelong learning—wonderful bonus of being self-employed
Multiple profit centers—the jigsaw pieces that make up your perfect business
Natural monopoly—when you are so perfect for the situation that the competition disappears
Options—the more, the better; sound decision-making comes from considering multiple choices and selecting the best
Problems—the hiding place of great opportunity
Purpose—the guiding light for decision-making and business-building
Quotation—wise thoughts to be collected; a good one is a seminar in a sentence
Remarkable—a worthy aspiration for an entrepreneur
Right brain—the generator of entrepreneurial ideas
Risk—not knowing for sure, but being confident enough to move ahead because you’ve done your homework
Security—knowing you can solve problems, create profit centers, always find a way
Ubiquitous—my favorite definition says “appearing to be everywhere at once”; a smart entrepreneur keeps looking for new ways and places to appear
Vision—a place to come from
Although I’ve shared my lexicon in other places, I was inspired to dig it out again today after reading Scott Stratten’s delightful Top Tep Things Entrepreneurs Never, Ever Say.
If you haven’t seen it yet, check it out for yourself.