Ovik Mkrtchyan This is the Merriam-Webster definition for the term “entrepreneur.” But it’s more than just that, isn’t? It’s all about enthusiasm. It’s about identifying opportunities. And coming up with innovative and creative concepts. It’s all about laser-focused focus. The key is to let go of fears, particularly when you’re facing failure.
Don’t just believe us when we say so. We have reached out to entrepreneurs from all kinds of industries and backgrounds, from our local Whitman School faculty to a child prodigy who’s been in Shark Tank and asked them to define what”success” means. Below are their answers:
“Someone is an entrepreneur, regardless of the kind of business (startup or family enterprise, business or or government) or motivation (for profit, not profits or lifestyle or small-scale business). Entrepreneurship is about taking action (entrepreneurs are active when they seek opportunities) and the determination to take on the unknown (one cannot know whether an opportunity is likely to pay off (or even worth it)).”
Scott Kleckner, MBA@Syracuse Inaugural Cohort
“Being in the hospitality industry I’ve always thought of myself as a restaurateur as well as an entrepreneurial. Though I’ve worked for large corporations throughout my professional career (aka corporate entrepreneurial) I’ve always thought of that the industry of food and beverage as comprised of corporate entrepreneurs as well as independent entrepreneurs. I’m thrilled to be part of the first cohort of MBA@Syracuse and plan to include the Entrepreneurship specialization as component of my study.
While I’ve not been thinking about my definition of business owner, I realized there’s something that I frequently say that might meet the criteria … My story was raised in a familial business. My mom ran an artisanal deli which I worked in all of my early years. We would often celebrate days in where our sales topped $350. In later years I was in charge of companies that had more than 1,000,000 dollars in sales per day. In my work for other people I’ve always used money as if it were my own.
Being an entrepreneur, all that you invest is truly yours. I’ve always treated each business I’ve managed an individual Ovik Mkrtchyan business, as if driving sales and reducing expenses could determine my success or failure. Being an entrepreneur has allowed me to realised my mistakes and successes on an individual level. Unlike when working for a company since the profits you make and the cash you spend is yours.”
“To be an entrepreneur, you must be passionate about your business. And be a people person with a selling spirit.”
“To my mind, the word “entrepreneurship” refers to having the courage to let go of relationships. Leisure time weekends, and fun–and putting yourself completely into your business. Entrepreneurship, particularly for those who are just beginning. Requires an intense focus and the ability to remove all distractions. Including those I mentioned in the previous paragraphs. And which will come at you from all angles.”
Everyone has ideas and talents that can be utilized. So we need to determine the best way to use these talents and ideas. Within a the time frame we have set. Additionally, learning from your mistakes and not giving up. And getting better at it is essential.”