What is a Data Entrepreneur?
And what is left on the table without them
There is no shortage of hype around data and its role in our future. As a result, it seems that all the cool jobs these days are required to include the word data, e.g. data scientist, data analyst, data engineer, etc. However, there is a data “job title” that sits apart from the rest, data entrepreneur.
At first glance, we may think context distinguishes the data entrepreneur from the rest. The former roles operate in large organizations, while the latter might be on their own or in a small team. This may be typical, but I’d say some data entrepreneurs operate in the largest corporations, and some data analysts in small businesses.
Next, we might say the difference is an appetite for risk. Data entrepreneurs are risk-takers chasing a big exit. While I don’t doubt this view drives many, they likely have a short life as an entrepreneur.
A friend of Elon Musk once said, “Starting a company is like eating glass and staring into the abyss.” Accordingly, one often needs more than just thrill and money to persevere through the constant adversity and uncertainty that comes with entrepreneurship.
So if not context or risk, what distinguishes the data entrepreneur? I’d say it is a drive to explore new possibilities rather than exploit known solutions.
Sure, the stereotype of a solo risk-taker might fit the bill, but there is much more variation than that. A data entrepreneur could be a salaried data engineer pushing for new initiatives at a large tech company; she could be a content creator with a passion for helping people grasp data science concepts or even a researcher who leverages emerging data technologies to drive scientific discovery.
More concisely, a data entrepreneur is a person who pursues data-centered ventures using the skillset of a data practitioner with the mindset of an entrepreneur.
The Problem — We’re all living the dream
The three most harmful addictions are heroin, carbohydrates, and a monthly salary — Nassim Nicholas Taleb
One thing that makes all these data jobs appealing is that companies pay a pretty penny to attract and keep talent. This might sound good initially, but this is a big problem if we want to maximize our collective potential.
We, i.e. human beings, are very bad at doing uncomfortable things when we don’t have to. Going for a run might be hard, but if a family of snakes appeared by your feet, you’d run right out the door. This (silly) example highlights a key feature of human behavior and motivation.
We are very good at doing uncomfortable, hard, and even impossible things when it is demanded by our environment and situation.
This is the problem with the current norm. Many data practitioners have well-paying and comfortable gigs where they aren’t (typically) forced to push beyond themselves to grow, adapt, and get better continually.
The Opportunity — Value & Vacuum
There is a reason data roles get paid the big bucks. The work provides tremendous value to the employer. Herein lies the first opportunity for the data entrepreneur. The skillset of the data entrepreneur is valuable.
While there are many others with this skillset (e.g. data scientists, data engineers, etc), far fewer have the mindset of an entrepreneur. This brings up the second opportunity. The ubiquity of well-paved and clearly defined data opportunities naturally leaves all the lesser-known and ambiguous options on the table. In other words, there is a massive vacuum in the space of opportunities that data entrepreneurs can exploit.
How Do I Become a Data Entrepreneur?
For the data practitioner, the path to data entrepreneurship is simple. Move toward discomfort. More specifically, this might be any of the following actions:
- Carve out an hour a day for independent research or development
- Connect with other data entrepreneurs and learn from each other (my door is always open 😁)
- Identify a problem that would bring you despair if never solved then pursue it
- Create content based on your data expertise and share it online
- Pick-up data contract work on platforms like Upwork or Fiverr
- Set aside time to work on interesting projects
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