“An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome.” (Wikipedia).
An entrepreneur is someone who takes the risk to invest in capital market and labor to create innovative solutions in order to realize a profit. An entrepreneur is not motivated by making money alone, it’s the passion to create and develop the most efficient and practical easy-to-use innovation that changes the industry, market, and that; by making a name for him/herself.
A profit only becomes a complimentary factor after implementing your solution. Hence if your only motivation to become an inventor and therefore an entrepreneur is making money, then you will simply miss the opportunity; you will never make it. Because your entire focus will be on making money instead of developing a solution that would help make life better for other people (your targeted customers), and therefore be able to find someone who may want to pay and use your solution.
A profit is never realized overnight; first you have to spend long days and nights and a lot of other people’s money (investors) in order to successfully develop and market your innovation, and make it a huge success by attracting a large user-base and brand loyalty (your targeted market) for your innovation, only thereafter you will earn income and then perhaps realize a net profit (based on your cost structured) from your innovation.
It’s your patience, passion, stubbornness, resilience, and your willingness not to be just another Joe. It’s your spirit of perseverance that must precede your greediness that will enable you to become successful in your entrepreneurial endeavor.
Remember, Facebook was not built in one day, not even in one year, it didn’t even generate revenue until after 2 long years.