01/03/2024
Entrepreneur without a business

What’s an Entrepreneur Without a Business?

I’m an entrepreneur. I’ve built a business or two, and got them successfully up and running, and entrepreneurship is something I truly immerse myself in. Ask any of my business partners, I really do throw myself into being a business owner. But, would I still be an entrepreneur if I didn’t have a business? It’s a question that I have long debated with myself, questioning whether being an entrepreneur relies on me having my own business, or if being an entrepreneur is something that goes far beyond that, something that goes much deeper. In this blog, I’m taking a look at what’s an entrepreneur without a business. 

If any of my businesses in the future suddenly disappeared, could I still consider myself an entrepreneur? Would I be in an entrepreneurship limbo until I started a new business? These are hard questions to answer, and I’m yet to come up with a definite answer. 

Defining What it Means to Be an Entrepreneur

By definition, an entrepreneur is something who creates a new business. Being an entrepreneur means taking the risk, setting up a business and growing into a successful brand. But, what about in the off season? After all, I don’t wake up every day and start a new business. A lot of what I do involves nurturing successful businesses and helping struggling businesses achieve success. When I’m doing this, I still consider myself to be an entrepreneur. 

When we think of an entrepreneur, we often envision someone starting a multitude of successful businesses, leading a team and creating innovative products or services. However, as far as I’m concerned, the essence of entrepreneurship goes beyond just having a business in action. It’s about the entrepreneurial mindset, the passion for creating something new in the world of business. It’s about having the passion to bring new ideas to life, and not being afraid of failure. As we all know, success isn’t guaranteed, failure is something that a lot of entrepreneurs face. 

The concept of being an entrepreneur is a complex one, and an entrepreneur without a business… Well, that is even more complex.

Having What it Takes to Be an Entrepreneur Without a Business

At its very core, an entrepreneur is someone who embraces business. An entrepreneur is a visionary, a risk taker and someone who likes to solve a problem. We are individuals who spot opportunities in business, take a risk, and we are not afraid to challenge what’s been done before us. We are driven by passion and a desire to create something meaningful, whether that’s a product or a service. An entrepreneur without a business doesn’t immediately lose all of these attributes. Here’s what it takes to be an entrepreneur, even if you don’t have a business. 

An Entrepreneurial Way of Thinking – One of the key parts of being an entrepreneur is having the entrepreneurial way of thinking. This means thinking like an entrepreneur, even if you don’t have a business established at the moment. It involves being proactive and always looking out for solutions, and continuously adapting to the changing business landscape.

Passion and Drive – Passion is the fuel that drives entrepreneurs. Without passion, I wouldn’t be where I am today. It’s my desire to solve problems, make a difference and bring my business ideas to life that has given me a continuous boost. Whether you have a business running or not, if you have a deep passion for something and are actively working towards making it a reality, you have what it takes to be an entrepreneur.

No Fear of Calculated Risks – Entrepreneurs are no strangers to risks. Not all businesses are successful, and there is always the chance that your entrepreneurial venture will fail. However, it’s essential to take calculated risks as an entrepreneur, but not reckless ones. You need to have the ability to assess risks and make informed decisions, and the sensibility to stay away from reckless decisions. 

Innovation and Creativity – Entrepreneurship thrives on innovation and creativity. After all, you need to stand out and do something different. Entrepreneurs are constantly thinking of new ways to solve problems and meet the needs of customers. Whether you’re in the process of developing a business plan or you are in the middle of brainstorming ideas, embracing innovation is key.

A Strong Network – Entrepreneurs understand the importance of networking and building connections, and every social engagement is an opportunity to expand your network. Even without a business, you can still network. These connections can offer valuable insights and support as you work towards your entrepreneurial goals, even if they are happening much further down the line.

Being an Entrepreneur is a Way of Life

Being an entrepreneur is not just about having a business. It’s a mindset and a way of approaching life. If you have the passion, drive and entrepreneurial way of thinking, you can consider yourself an entrepreneur, even if you haven’t started a business yet, or if you’re in between projects. 

My advice to you is to embrace the journey, keep learning and be open to opportunities. There is no knowing when your next entrepreneurial opportunity will arise. 

Written by
Scott Dylan
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Scott Dylan

Scott Dylan

I’m Scott Dylan, Inc & Co Co-Founder. I oversee the company's strategic direction and work to acquire and invest in distressed and viable companies, helping businesses improve their business processes and setting strategic directions.

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