Category Archives: Lisa Lloyd

Entrepreneurship = Mindset

Entrepreneur is a considerably big word. So much that I have yet to type it correctly without the help of Spellcheck. Even the definition of entrepreneur can be quite complicated. The Oxford English Dictionary defines entrepreneur as: “A person who new profile bworganizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.” This description though correct according to English standards, is about as inspiring as box of rulers. A slighter better definition of entrepreneurs is given by the researcher Richard G. Seymour of the University of Sydney who states: “Entrepreneurs are those persons (business owners) who seek to generate value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.” Professor Seymour arrived at his definition after years of researching the history of the word and according to what academics fondly refer to as the phenomenon of entrepreneurship. Inspired yet?

For now, I’d like to share with you what entrepreneurship means to me. True I could write for hours, however given my own experience I think I can sum it up in one sentence. Entrepreneurship is a mindset that states any business idea that meets a need has the potential to be profitable. At its core, entrepreneurship is not complicated nor is it reserved for an elite few as so many would have us believe. It doesn’t require an advanced education. It doesn’t call for off the charts intelligence. The only thing you need to truly become an entrepreneur is an idea and the firm belief that it is indeed possible to bring your idea to market.

The reason I joined is because of my fundamental belief that any business idea is possible. I know it’s hard to launch a business, not to mention reach the breakeven point, and exceedingly more difficult to maintain sustainable profitability. I also know that once you’ve been infected with what I like to refer as the entrepreneurship disease, you’re stuck with it. Nothing else will bring you more satisfaction, and (hopefully) greater financial reward than taking than an idea you have created and monetizing it. It doesn’t matter whether you’re a one-woman enterprise in Bolivia or a team developers in Bangalore, true entrepreneurs will always be launching new ideas to create revenue. Entrepreneurs are never satisfied with what is. Entrepreneurs are always thinking of what could be.

Experienced entrepreneurs all acknowledge one fundamental rule: Your idea has to meet a need in order to be marketable. Humans have many needs the basics of which include, water, food and shelter, communication, companionship; and the need to evolve and move forward to what they can become. New ideas developed by experienced entrepreneurs serve all of these needs. People will always need something more. Entrepreneurs understand this need and know how to meet it.

No business can meet an expressed need for a long period without being profitable. Profitability when closely examined is not complicated. Simply put; Profit = Income – Expenses. Tattoo it on the back of your hand. Spray paint it on the wall above your desk. Make it your screensaver. Now repeat after me: Profit = Income – Expenses.

My hope for is for it to become a vibrant community where you will find inspiration and can get the help you need to bring your ideas to market. We’ll be adding resources to help you reach your full potential and grow your profitability. We welcome your ideas and feedback regardless of your location, country of origin or residence, industry and background. Your ideas matter and its our job to help you to make the best of them Yes, being an entrepreneur can be very complicated. Hopefully, can make it a little easier.

Build on!

Lisa Lloyd