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What does it mean to be an entrepreneur? It's more than being a business owner; it's a perspective and a lifestyle.
The road to entrepreneurship is rarely a straight line. It’s full of unexpected detours, roadblocks and dead ends. There are sleepless nights, plans that don’t pan out, funding that falls through and customers who never show up. At times, you may wonder why anyone would willingly take on such a challenge. And yet, every year, thousands of people do just that, launching tech startups, opening brick-and-mortar businesses or turning ideas into products or services. They’re driven by vision, determination and the belief that they can fill a need in society.
With the right mix of motivation, inspiration and a solid game plan, you can join them and find success, too. In fact, many experts now describe entrepreneurship less as a career choice and more as a mindset — one centered on spotting opportunities, solving problems in new ways and leading with creativity. This modern view goes well beyond the older notion of just starting a business to make a profit; it reflects the innovative spirit that drives lasting change.
An entrepreneur identifies a need that no existing business addresses and finds a way to solve it. Entrepreneurial activity can include developing and starting a new business, building a marketing plan or even creating a product with the end goal of eventually selling the company for profit.
Entrepreneurship isn’t just theory; it’s surging in practice. The U.S. Census Bureau reported more than 470,000 new business applications in July 2025 alone. And, according to the 2024-2025 Global Entrepreneurship Monitor, Total Entrepreneurial Activity (TEA) has reached 19 percent. In other words, nearly one in five American adults is actively engaged in starting or running a new business.
Some entrepreneurs launch once and stick with a single company, while others are serial entrepreneurs who regularly start businesses, sell them and move on to the next idea. Whether or not every business owner counts as an “entrepreneur” can depend on how the company was created, but one thing is certain: Every founder of a household-name business started with the same first step.
If you’re thinking about taking that step yourself but are concerned about startup costs and other money issues, finances don’t have to stop you. Many entrepreneurs turn to alternative financing options like angel investors, who provide early capital in exchange for equity, or venture capitalists, who invest in high-growth businesses with long-term potential.
Many of today’s most recognizable business leaders started out as unknowns with nothing more than an idea and a lot of determination. Here are just a few examples of entrepreneurial success:
What motivates entrepreneurs to venture forth when so many others would run in the opposite direction?
Part of the answer lies in who today’s entrepreneurs are. According to the U.S. Treasury Department, entrepreneurship is more diverse than ever: 43 percent of self-employed Americans are women, and the share of Black, Asian and Hispanic entrepreneurs is near record highs. That broadening mix reflects the variety of motivations people bring to the table.
Though each person’s inspiration is unique, and the reasons entrepreneurs start businesses vary widely, many are spurred by one or more of the following:
If you’re considering entrepreneurship, it helps to hear directly from those who’ve been there. The founders and leaders below shared their thoughts on what makes a successful entrepreneur. While each perspective is unique, together they highlight recurring themes: vision, grit, empathy, leadership and adaptability.
Some emphasize vision and courage:
Others stress resilience and grit:
Some highlight empathy, leadership and listening:
Others focus on adaptability and innovation:
Across all these perspectives, one message comes through clearly: successful entrepreneurs don’t rely on just one trait. They blend vision with grit, empathy with leadership and adaptability with persistence.
There’s no single path to entrepreneurship. Success often comes down to having the right mix of skills, mindset and ideas and introducing them to the world at the right time. While there are no guarantees, these steps can increase your chances of building a thriving business:
Being an entrepreneur isn’t easy. It often takes more hard work, ingenuity and perseverance than a typical 9-to-5 job, and even then, success isn’t guaranteed. But when it does work out, the rewards can be extraordinary. You’re building something on your own terms, shaping your future and often making a real impact on society.
That impact goes beyond individual businesses. According to the U.S. Treasury Department, small businesses — many launched by entrepreneurs — have created more than 70 percent of net new jobs since 2019, up from 64 percent in the previous business cycle. In other words, entrepreneurs don’t just chase personal goals; they play a central role in driving economic growth and job creation.
For many entrepreneurs, those rewards outweigh the risks. There’s never a guarantee an idea will succeed, but that doesn’t stop people from trying. After all, failure is just as uncertain as success, and the chance to build something meaningful makes the journey worth it.