The Meaning of being an Entrepreneur

I'd  like to start a conversation among like-minded people within the global Search community. 

Last week I was facilitating a session with a client in the education sector. A key component of developing their students (in Australia – from pre-Kindi 3 year olds to graduating Year 12 at 18 years of age) is in the arena of Entrepreneurship. In conversation one of the executive members of staff made comment on his belief that entrepreneurs all drive Lamborghinis, have massive mansions, big boats, and live a special life in a rarefied atmosphere. 

I challenged him on this. Indeed I work with entrepreneurs every day who don’t drive Lambis or live in 10 bedroom homes. Most live what I would call a “normal” life, drive nice cars and live in upper-middle class environments. All of them have a great mindset for creative development of their businesses and tend to take the risks that no one else would – that is why they own a business and not work for someone else. It got my business partner Lui Pangiarella and I thinking about the nature of entrepreneurship.

What does it really mean to be an entrepreneur? Surely its not about the trappings of fast cars and other toys?
What does being an entrepreneur mean to you? What are the attributes? Mindset? Skill sets?