Category Archives: To Be Inspired

What Makes a Business Owner an Entrepreneur?

 

There are many similarities between a business owner and an entrepreneur. An entrepreneur is a business owner but a business owner may not be an entrepreneur. Both organize and manage at least one business and both assume risks associated with the business. Even a small business can have a measure of risk. So on the most basic of definitions, they are the same.

Business Owner vs. Entrepreneur

An entrepreneur is usually thought of as someone who deals with a large amount of risk for the business. A large amount of risk can bring a huge pay-off and many business owners keep the risk to their business minimal.

Entrepreneurs often are very intelligent and initiate major change. This includes pioneering new products, expanding to different markets and perhaps reinventing production methods. The key here is innovation and when innovation leads to more demand, financial success follows. In summary, entrepreneurs take huge risks, create a lot of wealth quickly and are leaders in innovation that gives them an advantage over their competition.

Marc Sparks: A Serial Entrepreneur

A serial entrepreneur is a person who starts one business after another or runs several businesses at the same time. Mr. Sparks has successfully created dozens of businesses and isn’t slowing down. He is an innovator that takes an idea and makes it happen. He has also written a book, They Can’t Eat You, based on his 35 years of success as an entrepreneur.

Marc has also been labeled an entrepreneur’s entrepreneur. This may be due to the establishment of his private equity firm, Timber Creek Capital. He has taken the knowledge he has learned over the years and started this company which mentors start-up businesses, helping them become successful. Timber Creek Capital starts with a business model and provides resources the company will need for marketing, office space, equipment, web design, staff, and more.

Philanthropy often goes hand in hand with entrepreneurship. Marc Sparks is no exception, being a supporter of American Can! Academy, a magnet high school in Dallas. He has also been involved with a homeless shelter, The Samaritan Inn, also in the Dallas area, and Habitat for Humanity.

FreedomPop Successful New Round of Funding

Suspected future profits often times cause entrepreneurs to hold on for a better offer, more money, and ultimately greater acclaim. FreedomPop, a free-to-a-limit wireless provider that leverages Sprint’s network amongst others, has sidestepped the M&A offers once again, and was able to gather up the funds they need to grow their business through private sources. The company is expanding further into Europe, which requires additional cash. At this point, with expansion being a primary component of their business plan, had they not found the funding, they would have been in the position of foregoing growth, or giving up a part of the company to obtain the necessary funding.

FreedomPop is the first 100% free wireless internet provider in the United States. Inspired by a fictional character on an HBO comedy series, when trying to secure funding, FreedomPop CEO Stephen Sokols decided independence was the way to go. They ultimately have plans to expand their menu of services, and if they were forced to give up a part of the company to foster this growth, that vision could have been altered. FreedomPop already has strong wholesale partnerships with 4G Wimax and 4G LTE mobile broadband network providers, and these partnerships are keeping the road ahead wide-open for this wireless start-up.

With the amount of interest they garner each time they look for a round of funding, much can be inferred. Investors are putting large amounts of cash into this start-up. This means that not only are they seeing how successful FreedomPop is today, investors also see the potential in this business model going forward. This confidence vote comes in the form of cash, and it is really the highest praise this company could receive. Successful rounds of funding is the best form of advertising a company could ever get, and for FreedomPop this also means they are likely here to stay.