I define the entrepreneur as one who envisions and creates a more advanced and cheaper good or service with the potential to sell in greater numbers to more people for more profit. While we tend to think of entrepreneurs as those coming up with revolutionary and break-through things that make the inventors and developers immensely rich, these individuals are rare. Bill Gates comes to mind. The extremely numerous and more common things all around us, such as cheaper yet better-built houses, were also the products dreamed up by entrepreneurs. Again, they were driven by the profit motive, and these people became affluent through their productivity, and many people benefited.
Do you agree?
Grab a copy of my book, “Return to Capitalism,” to start the conversation!