The Definition of an Entrepreneur

I have never thought of myself as an entrepreneur, until that is, there was something worthwhile to pursue. A quick search came up with the definition of an entrepreneur as: One who assumes the financial risk of the initiation, operation and management of a given business or undertaking. That sure sounds a lot more exciting than what I am involved in now. The only problem is that, well, as the definition states, it’s risky.

The more I learn about the law, the more my interests shift towards the business world. If only I would have had more exposure to business when I was younger and in college making these decisions, I could have perhaps been guided down that path from the beginning. Instead, I join thousands of other lawyers, unsatisfied with the profession, seeking to one day join the business world of marketing, managing, innovating and profiteering. I have recently been speaking with a good friend regarding starting our own business. The business plan is starting to come together and the market for the services we plan to provide is apparent. It’s an exciting feeling. One of the aspects of working I looked forward to was the ability to work in teams to achieve clear goals. Law firms don’t always provide that opportunity.

Of course, unlike starting one’s own company, a law firm, for the most part, is a stable job. As the saying goes, lawyers make money in good economic times and in bad; if lawyers aren’t doing deals, they’re litigating and restructuring companies. But stable job or not, the chance to build and shape a business with my friends, to build a clientele and successfully meet their needs and to make money in the process, now that would be a great job. Whether we will be able to plan and execute successfully will largely be determined in this next year. Stay tuned.

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