Do you think that every inventor believes enough in their invention that they want to share it with the world? Although this question is rhetorical, it may also add a flicker to your light bulb.
While reading “Awakening the Entrepreneur Within“ by Michael E. Gerber, his chapter about understanding “The Five Realities of the Entrepreneur” I’ve come to grasp the following:
Reality #1: An Entrepreneur is an inventor
Reality #2: Entrepreneurs do not buy business opportunities; they create them
Reality #3: Invention is contagious
Reality #4: The success of the invention- the business – is measured by growth
Reality #5: Everyone possesses the ability to be an entrepreneur
Consequently, an entrepreneur can be perceived as an inventor. They can either create something the world does not have or enhance something it already does.
The eyes of an inventor are always awake and alert in order to search for that million-dollar idea, product or service. You must first understand that entrepreneurs do not buy into business opportunities, they would much rather prefer creating their own. Sure, purchasing a franchise that you think will be extremely successful can be seen as a bread winner, but it can also be seen as taking the easy way out.
You no longer have the entrepreneurial passion of owning your own business because truthfully it is not entirely yours. You have become a branch on another person’s entrepreneurial tree. The uniqueness of having a business that you create is far more rewarding than running another person’s million-dollar idea.
Thirdly, there are plenty of businesses that started off in the basement of their parent’s house or even the comfort of their college dorm. The reality is that the power of invention is contagious. When people began to realize that their inventions could be profitable, a mass amount of “inventors turned entrepreneurs” are at large. People are no longer solely creating things for themselves, but more so creating things to change the world.
The true beauty of being a successful entrepreneur is knowing how to measure your success. It is not about the amount of money that is being made; rather it’s the growth of the business and how it is being perceived by the community.
Nothing is more satisfying for an entrepreneur than to have created something that can help so many people. The person behind the creation of the project is more satisfied than the person it is being sold to.
One must understand that not every invention is going to be successful or transform you into an entrepreneur. Although everyone possesses the ability to be an entrepreneur, you have to realize that entrepreneurs are made, not born. Practice makes perfect. Because you are an inventor, the creativity to forge ideas will come easy to you, but trial and error is essential.