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{"id":2993,"date":"2023-02-19T16:11:16","date_gmt":"2023-02-19T16:11:16","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-8-2-what-is-an-entrepreneur\/"},"modified":"2025-06-25T12:11:42","modified_gmt":"2025-06-25T12:11:42","slug":"apply-it-8-2-what-is-an-entrepreneur","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-8-2-what-is-an-entrepreneur\/","title":{"raw":"Apply It 8.2: What Is an Entrepreneur?","rendered":"Apply It 8.2: What Is an Entrepreneur?"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Define entrepreneur&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Define entrepreneur<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Identify traits that successful entrepreneurs share&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Identify traits that successful entrepreneurs share<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Recognize the different types of people who become entrepreneurs&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Recognize the different types of people who become entrepreneurs<\/span><\/li>\r\n\t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand why people choose to be entrepreneurs&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand why people choose to be entrepreneurs<\/span><\/li>\r\n<\/ul>\r\n<\/section>\r\n<h2>Why Entrepreneurs Start Businesses<\/h2>\r\n<p>In this video, Bombas co-founders Dave Heath and Randy Goldberg share how they built a successful sock company using a buy-one-give-one model after learning that socks were the most requested item at homeless shelters, eventually securing investment on Shark Tank and growing into one of the show's most successful businesses despite early challenges with rapid growth.<\/p>\r\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api \" type=\"text\/javascript\"><\/script>\r\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/Q_yoVAljg_Y?si=jYuJulOq6VkLISH-?enablejsapi=1 \" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\r\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387222&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-&amp;vembed=0&amp;video_id=Q_yoVAljg_Y?si=jYuJulOq6VkLISH-&amp;video_target=tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-\" type=\"text\/javascript\"><\/script><\/p>\r\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/How+Bombas+Socks+Became+the+Most+Successful+Shark+Tank+Business+Ever_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cHow Bombas Socks Became the Most Successful Shark Tank Business Ever\u201d here (opens in new window).<\/a><\/p>\r\n<\/section>\r\n<h3>Which entrepreneurial DNA type (Builder, Opportunist, Specialist, or Innovator) best describes the Bombas founders, and what evidence supports your classification?<\/h3>\r\n<p>[reveal-answer q=\"18545\"]Click to Show Sample Answer[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"18545\"]The Bombas founders most closely align with the Innovator entrepreneurial DNA type. This is evidenced by their focus on creating a mission-driven company that addresses a social problem rather than just pursuing profits. They were motivated by learning that \"socks were the number one most requested clothing item at homeless shelters\" and wanted to \"have some small impact on this problem facing a community here in our own backyard.\"<\/p>\r\n<p>Their dedication to spending two years developing a superior product before launch demonstrates their commitment to quality and innovation. The founders also mention how they were \"obsessed with making something that was going to blow people's minds\" regarding comfort, showing their focus on product excellence rather than just rapid scaling or financial metrics. Innovators measure success based on impact rather than just financial returns, which aligns perfectly with the Bombas founders' approach of combining business success with social mission.[\/hidden-answer]<\/p>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Define entrepreneur&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Define entrepreneur<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Identify traits that successful entrepreneurs share&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Identify traits that successful entrepreneurs share<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Recognize the different types of people who become entrepreneurs&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Recognize the different types of people who become entrepreneurs<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand why people choose to be entrepreneurs&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14720,&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand why people choose to be entrepreneurs<\/span><\/li>\n<\/ul>\n<\/section>\n<h2>Why Entrepreneurs Start Businesses<\/h2>\n<p>In this video, Bombas co-founders Dave Heath and Randy Goldberg share how they built a successful sock company using a buy-one-give-one model after learning that socks were the most requested item at homeless shelters, eventually securing investment on Shark Tank and growing into one of the show&#8217;s most successful businesses despite early challenges with rapid growth.<\/p>\n<section class=\"textbox watchIt\" aria-label=\"Watch It\"><script src=\"https:\/\/www.youtube.com\/iframe_api\" type=\"text\/javascript\"><\/script><\/p>\n<p class=\"cc-media-iframe-container\"><iframe id=\"tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-\" class=\"cc-media-iframe\" src=\"https:\/\/www.youtube.com\/embed\/Q_yoVAljg_Y?si=jYuJulOq6VkLISH-?enablejsapi=1\" frameborder=\"0\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p class=\"cc-media-iframe-container\"><script src=\"\/\/plugin.3playmedia.com\/ajax.js?cc=1&amp;cc_minimizable=1&amp;cc_minimize_on_load=0&amp;cc_multi_text_track=0&amp;cc_overlay=1&amp;cc_searchable=0&amp;embed=ajax&amp;mf=13387222&amp;p3sdk_version=1.11.7&amp;p=20361&amp;player_type=youtube&amp;plugin_skin=dark&amp;target=3p-plugin-target-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-&amp;vembed=0&amp;video_id=Q_yoVAljg_Y?si=jYuJulOq6VkLISH-&amp;video_target=tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-\" type=\"text\/javascript\"><\/script><\/p>\n<p>You can view the\u00a0<a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/How+Bombas+Socks+Became+the+Most+Successful+Shark+Tank+Business+Ever_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \u201cHow Bombas Socks Became the Most Successful Shark Tank Business Ever\u201d here (opens in new window).<\/a><\/p>\n<\/section>\n<h3>Which entrepreneurial DNA type (Builder, Opportunist, Specialist, or Innovator) best describes the Bombas founders, and what evidence supports your classification?<\/h3>\n<p><div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q18545\">Click to Show Sample Answer<\/button><\/p>\n<div id=\"q18545\" class=\"hidden-answer\" style=\"display: none\">The Bombas founders most closely align with the Innovator entrepreneurial DNA type. This is evidenced by their focus on creating a mission-driven company that addresses a social problem rather than just pursuing profits. They were motivated by learning that &#8220;socks were the number one most requested clothing item at homeless shelters&#8221; and wanted to &#8220;have some small impact on this problem facing a community here in our own backyard.&#8221;<\/p>\n<p>Their dedication to spending two years developing a superior product before launch demonstrates their commitment to quality and innovation. The founders also mention how they were &#8220;obsessed with making something that was going to blow people&#8217;s minds&#8221; regarding comfort, showing their focus on product excellence rather than just rapid scaling or financial metrics. Innovators measure success based on impact rather than just financial returns, which aligns perfectly with the Bombas founders&#8217; approach of combining business success with social mission.<\/p><\/div>\n<\/div>\n","protected":false},"author":21,"menu_order":12,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"How Bombas Socks Became the Most Successful Shark Tank Business Ever\",\"author\":\"Fortune\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/Q_yoVAljg_Y\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":2981,"module-header":"apply_it","content_attributions":[{"type":"copyrighted_video","description":"How Bombas Socks Became the Most Successful Shark Tank Business Ever","author":"Fortune","organization":"","url":"https:\/\/youtu.be\/Q_yoVAljg_Y","project":"","license":"arr","license_terms":"Standard YouTube License"}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"<script type='text\/javascript' src='https:\/\/www.youtube.com\/iframe_api'><\/script><script type='text\/javascript' src='\/\/plugin.3playmedia.com\/ajax.js?cc=1&cc_minimizable=1&cc_minimize_on_load=0&cc_multi_text_track=0&cc_overlay=1&cc_searchable=0&embed=ajax&mf=13387222&p3sdk_version=1.11.7&p=20361&player_type=youtube&plugin_skin=dark&target=&vembed=0&video_id=Q_yoVAljg_Y&video_target=tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-'><\/script>\n","media_targets":["tpm-plugin-hcaeechb-Q_yoVAljg_Y?si=jYuJulOq6VkLISH-"]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2993"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":11,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2993\/revisions"}],"predecessor-version":[{"id":9801,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2993\/revisions\/9801"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/2981"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/2993\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=2993"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=2993"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=2993"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=2993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}