Definition
Entrepreneurship is the process of starting and running a business, typically involving innovation and risk. Founders reach for it when a vague conversation needs a shared, specific meaning. Name it clearly, then let the next decision — a hire, a price, a test, or a pass — follow from that meaning.
In the room
How the word shows up in a real conversation.
Two cofounders disagree until they define Entrepreneurship. Once they agree it means “Process of starting and running a business, typically involving innovation and risk”, the argument becomes a decision.
Common mistake
Using Entrepreneurship as a label instead of a fact. If you cannot point to the evidence — a number, a customer, or a written assumption — you are using the word as jargon.
See also
Entrepreneurial strategy
Plan for creating and capturing value through innovative business approaches.
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Entrepreneurial venture
New business undertaking that involves risk and potential for significant returns.
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Exit strategy
Plan for how investors or founders will sell their ownership in a business.
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Expense
Cost incurred in the process of generating revenue or running a business.
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