NowLifestyle

by Chris S. Business Owner

What is an entrepreneur?

An entrepreneur is a person who is building a business. And a business is an automated system that generates cash flow for its owner.

So, what is the task of an entrepreneur?

The task of an entrepreneur is to envision a working system that generates cash flow and turn it into reality. This means that the system needs to be grounded in reality.

That could mean things like:

market realities (i.e. do customers really want this? Are they really willing to pay for this? Am I solving a real problem? Can I realistically compete with this existing competitors?)
feasibility realities (i.e. Is this actually scalable? Can this make enough money to be a viable business? Does the infrastructure exist to turn this into reality?)
personal realities (i.e. can I really build this considering my budget? Do I have the skills to execute on this business? Can I build this before going broke?)

You can come up with great ideas all you want, you can dream up all you want, if it is not possible to turn this idea into a business that generates a reliable (and sufficient) amount of profit, then it’s worthless.

After all, there is only one logical reason to be in business:

To set up a system that automatically generates cash-flow for you without you necessarily having to be involved in it very much. To free up your time so that you can use it in the most useful way possible.

If you then want to use that time in order to do more work on your business and scale it, then that’s fine.

A business is not a business unless it is:
scaleable (i.e. has the potential to either serve a lot of customers or provide extremely deep value for a selected few)
automated (i.e. doesn’t require substantial amounts of time from the owner’s side and can sustain itself in the owners absence)
profitable (i.e. makes more money than it costs to maintain AND is financially worthwhile for the owner)
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