I first coined the word BizOwner and published it in an article I wrote for the Dakota County Tribune. The article appeared in the December 17, 2009 edition and was titled “Why I Hate The Word Entrepreneur”. Normally when I write an article for the Tribune a get one or two responses commenting on what I wrote. When this article came out I was amazed at the number of people who commented on it, and all of them agreed with me! Apparently a lot of people also hate the word “entrepreneur”!
Since BizOwner is a word I coined, I have the right to give it my own definition, which is “someone who owns, operates and is responsible for everything in his or her business.”
BizOwners wear multiple hats. During any one day they are the salesperson, the marketing director, the accounts payable and accounts receivable person, the customer service agent—and they do all the work that brings income into the business.
So how do you know if you really are a BizOwner? If you can make the following five statements without hesitation, then you fit the bill.
- I have legally formed a business and listed myself as the owner.
- I am the person responsible for everything in my business.
- I handle almost all the sales and marketing for my business.
- I generate most of the income that flows into my business.
- I put the word owner on my business cards and it feels right.
If you are one of the nearly 500,000 BizOwners in Minnesota, then I applaud your fortitude, daring, business sense and enterprising nature. It’s about time we had a name of our own with a singular and practical definition. Economic experts across the board point to us as a major force for bringing back the economy at the local, state, regional, national and international level. As BizOwners, we should be proud of our accomplishments and continue to work hard as the little engines that could of the economic recovery.