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What Is An Entrepreneur?
As it is said, ‘The Beginning is always the best place to start’ but what if you do not know where the beginning is?
On a forum that I am a regular member of there was a thread that was started that has become quite an interesting debate – and it all revolves around:
What is an Entrepreneur?
It all started by the mention from one member that he didn’t think that affiliate marketers can be classified as entrepreneurs as they are just sales people. I think that there is some credibility in that statement, but I think that it is very generic and to stereotypical.
An entrepreneur is a person who operates a new enterprise or venture and assumes some accountability for the inherent risks. (source: Wikipedia.com)
I know there are many different definitions of an entrepreneur and this is what makes defining an entrepreneur so difficult.
My perception of an entrepreneur is somewhat similar to the above definition. I think that an entrepreneur is:
Someone that has creative ideas and takes risks and responsibility in relation to those ideas usually with the aim of creating wealth.
That is just my personal opinion, so don’t shoot me down, but it made me think does it really matter who or what is defined as an entrepreneur? I mean if a person starts a business selling shoes and floats it via IPO, walking away with a nicely padded back pocket – good on him. And if a young person creates a strategy to make money promoting affiliate programs through his blog, website or even just with PPC – then his new venture would be a success and I would give him the credit he deserves.
I think the focus shouldn’t be on ‘I’m an entrepreneur and you are not’. We should be more focused on our plans – whatever they may be, and put our effort into them.
Who Is An Entrepreneur
An entrepreneur is defined as a person who undertakes a business, bold and difficult, with the chance of profit or loss. A true entrepreneur goes beyond this simple definition. He is not the creator of any new good or service. Rather, he is an optimist with the vision and creativity to turn an innovative idea into reality for benefit of others. He has the courage to undertake financial risk, to follow his dreams. He can see opportunity in a problem. He has a burning ambition and cleverness to succeed. He sets realistic goals, takes calculated risks based on facts and experience, works hard, is totally focused and motivated to make it happen.
What is Entrepreneurship?
Enterprising individuals with time, money and ideas can convert the three production factors of land, capital and labor into a profitable enterprise. In economic terms, land is not just real estate but also includes natural resources like minerals, plants and animals as well. Capital is not money only but a resource that produces wealth. Labor refers to human endeavors that produce wealth. Land, capital and labor create value, but are not the sole contributors to wealth. The fourth factor of production, missed by many, is entrepreneurship. It makes the connection between the three to create something that had not existed before. This insight and creativity makes the other three factors productive and turns an idea into a profitable reality.
Qualities of a Successful Entrepreneur:
There are certain qualities that go to make outstanding entrepreneurs. These qualities are not inborn and can be learnt and acquired.
o Enterprise: The ability to distinguish between a ‘bright idea’ and a ‘viable one.’ He then works hard to implement those ideas into reality.
o Dynamic and Industrious: He is disciplined, motivated, and enthusiastic with high energy levels. He should be prepared to work hard for long hours with a never-say-die attitude. His enthusiasm and charisma electrifies the co-workers to pitch in with their best.
o Leads the Way: He has exceptional organizational and managerial skills, is assertive not aggressive. He remains steady and in control of the situation to lead the way by example.
o Conceptual: Trusts his gut feelings and instinct. Takes all risks even in face of co-workers opposition, recognizes opportunity and works on making the concept a reality.
o Feeling the Pulse of the Market: Does a meticulous market survey, perceives product demand and customers need.
o Introduces innovative products for the benefit of the customers
o Marketing: A dynamic sales plan to market your product is an art. To create brand recall in customer’s mind and to build brand loyalty, the promotion technique has to be unique, impressive and aggressive. This gives a perfect exposure to the product.
o Vigilance: Customer feedback is very important. Augment, improvise and upgrade to newer versions with latest technology to beat competition. Re-invent to keep the product offering relevant in a crowded marketplace.
A successful entrepreneur is always on the lookout for better options and greener pastures to expand his business horizon. A ‘never say die’ attitude and a positive approach will stand you in good stead while running your enterprise.
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What Is An Entrepreneur?
Dear Reader,
Do you see yourself as an entrepreneur? If so, have you asked yourself the question, what is an entrepreneur, specifically what is the role of an entrepreneur? Is there any one entrepreneur definition which states definitively the essentials of a successful entrepreneur?
Here is a list of characteristics that I believe are essential for the successful entrepreneur. Few of us exhibit all of these characteristics, but if you have even some you are definitely on the right track.
So what is an entrepreneur?
Entrepreneurship is all about attitude. Entrepreneurship is all about drive, hard work and applying your mind properly. Entrepreneurship is about sacrificing a lot to pursue your business interests. Entrepreneurship is about compete and utter dedication to your ideas and ultimate goal. Successful entrepreneurs are people who are compulsive in their need to ultimately succeed, even if this takes time and includes disappointment and failure along the way. Entrepreneurship is about total focus. Successful entrepreneurs go to bed thinking about their ideas and wake up in the morning still thinking about them. It is about constant attention to every detail. It is about networking, understanding your customer and convincing them about your ideas. Also, you have to be constantly in touch with clients, customer and business partners. Entrepreneurship is about leadership: A successful entrepreneur understands how to be a leader and adds value to any existing leadership with their ideas. Entrepreneurship is about confidence: Successful entrepreneurs are people who literally live with their ideas and confidently believe with conviction that even if things don’t work out in the initial stages, later on everything will be in place and they will emerge a winner. Entrepreneurship is all about taking calculated risk. To become a successful entrepreneur one needs to be dreamer, and yet practical and realistic at the same time. Finally entrepreneurship is about failure. An entrepreneur as a person who is willing to fail. Fascinating but true. Think of the great success stories and the paths to success have been strewn with failure. I’m thinking of Sam Walton the founder of Wal-mart who famously had a difficult and bumpy ride to success and who is quoted to have said “Commit to your business. Believe in it more than anybody else”.
So as you can see, it is hard to define exactly what is the role of an entrepreneur, there is no one entrepreneur definition for a successful entrepreneur, and an entrepreneur is many things. But if you are taking the time to read this article – entrepreneurship might just be about you!
Who Is an Entrepreneur?
There are people, who would do anything to stick on to a job and there are people, who would do anything to run away from it and do things on their own. The second category of people are typically called as entrepreneurs.
George Bernard Shaw once said
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. “
The entrepreneur is the unreasonable man. Can you ever imagine life without an electrical bulb? If Thomas Alva Edison did not take pains, failed about 10,000 times and not persisted, we would be today living in the dark. The entrepreneurs of the world make it a place worth living. Just look around yourself, how many things you see started with a small bit of entrepreneurship and ended up changing the world. Some of the examples are computers, Television, internet etc.
Some people are born to lead and become entrepreneurs, while others learn on the way. Most of them however often have similar characteristics. I have outlined some of these characteristics.
An Entrepreneur is a person,
who is not happy with status quo who wants to bring a positive change to the world who has definite ideas and a plan who does not worry about failures who has willingness to take risks and to spend his hard earned money who is constantly learning new things who sees setbacks as opportunities who understands that success comes with patience who takes criticism in his stride, talks less and is action oriented who goes against the ‘popular wisdom’
To summarize, an entrepreneur is a person who believes in his idea, is not afraid to take risks and is action oriented.
If you feel that you have these in you, what are you waiting for? Go ahead and jump in the pool of entrepreneurship. At least you will learn swimming.
The Entrepreneur – A Modern-day Artist
Usually when you think of an artist or creator, your mind immediately associates those words with images of painters, musicians, or writers. Or in other words, people who make something as tangible as a work of art or a piece of music that can be viewed or heard. However, one of the great creators of the modern world is the entrepreneur. Though his work can’t be viewed like a sculpture in a museum or listened to as you would a song in a concert hall, what the entrepreneur creates is just as tangible.
Entrepreneurs create ideas. The word entrepreneur is of French origin and means “to undertake.” This phrase, in relation to its modern association, was originally coined by French economist, Jean-Baptiste Say. This simple definition both understates the complex role and also adequately describes it. Because an entrepreneur does so many different things, a more specific definition might leave something out.
In today’s world, when we hear this word, we usually associate it with someone who comes up with an idea and then creates a business or company around that idea. However, an entrepreneur is more than just an idea man. He also assumes the responsibility of his idea and must see it through to accomplishment. Because of the dangers and difficulties of presenting new ideas and creating new companies, an entrepreneur’s reputation, like a musician or a painter, is at stake, depending on the outcome.
Due to the prevalence of successful companies that started with the hard work and groundbreaking idea of a single person, entrepreneurship is viewed as something to aspire to. So in today’s world, when a child is asked what he wants to be when he grows up, his answer might include something new…An entrepreneur.