Are Already An Entrepreneur? Find Out Here!

The word "entrepreneur" is a derivative of the french word "entreprendre," which means "to undertake."   In the traditional sense of the word, an entrepreneur is anyone who undertakes something.  Most modern Americans think of an entrepreneur as undertaking a business.  But in reality, an entrepreneur is anyone who undertakes anything.  This can be a project, creative vision, or any thing else.  If you are already undertaking responsibilities, you are already an entrepreneur in the most rudimentary sense.

Let's add a little more definition to the mix.  Another interpretation of the word  "entrepreneur" is one who shifts economic resources out of an area of lower yield into an area of higher yield.  (This is where we get the modern term of entrepreneurship from.)  Basically, this just means that if you take resources and multiple them in order to have more money, you are an entrepreneur!  Think about that!  Even a stay at home mom can be considered an entrepreneur under this definition! After all, doesn't she take her family's resources and multiply them in the form of cutting costs and stretching dollars in order to have more expendable income for her household? Ummm..... Yeah!

I write this blog post to tell you that you don't have to be the founder of a Fortune 500 company to be considered an entrepreneur.  All you have to do is take on a responsibility and multiply its resources.  I'm pretty sure many of you already do that on a daily basis anyway.  The next time you cut out a coupon, make an investment, or take on an odd job..... You are practicing entrepreneurship!  So never think of these tasks as mundane again.  Think of them as an chance to emulate some of the greatest entrepreneurs on earth.  So if an opportunity does arise for you to start your own business, you'll be ready!

Aarin Elizabeth is the founder of iVi Scents | Nontoxic Bath and Body

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Why a Recession is the Best Time to Start a Business

Starting a business in the midst of a recession is one of the smartest business moves you can make.  Some of the greatest businesses of all time were born during bad times: Facebook, LinkedIn, Monopoly, Apple, Cliff Bar, Scrabble, KFC, Dominoes, FedEx, and Microsoft are just a few.

So why is now the best time to become an entrepreneur?  First, the cost to open a business is at an all time low.  A recession is the best time to buy rent estate, purchase equipment, hire designers, buy products, and seize coveted advertising space, because everyone is willing to accept discounted prices.  Second, the competition is low.  A recession creates a lower barrier of entry into the marketplace.  As the only light in the dark, you have no choice but to shine brilliantly.  Third, a recession gives you confidence.  If your business can survive through the tough times, it can survive through anything. Likewise, if your business folds under the pressure, it probably wasn't meant to be -in the first place - And it's cheaper to fail fast if you are doomed to fail. 

I know dozens of people personally who have lost their jobs due to this recession -- In fact, I was one of them.  But after opening my own business, I now have a steady income and the ability to create jobs for others. So although it may seem like starting a business now may is risky, sometimes I wonder if working for someone else may be even be riskier. 

Aarin Elizabeth is the founder of iVi Scents | Nontoxic Bath and Body

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