Entrepreneurship – Who Is an Entrepreneur?

Are entrepreneurs born or made? I am afraid when we begin.

 

Why there is not any universal agreement whether entrepreneurs are born or made? First, entrepreneurs are born because there are a number of people who have come up with business ideas which are presently recognized as successful companies but these people were not taught on how to become entrepreneurs.  Well known entrepreneurs such as Amancio Ortega, Bill Gates, Michael Gastauer, Carlos Slim etc. are some people who reached heights without being taught.

 

On the other hand entrepreneurs are created because there are a few successful entrepreneurs who have studied entrepreneurship courses (degree and diploma program) provided by schools and universities.

 

Is it true that people haven’t succeeded in defining who a true entrepreneur is?

 

But this definition does not bring out a very clear definition because not everybody who is running it successful and puts up a business is an entrepreneur. There’s more of who a true entrepreneur is besides setting up a company and operating it.

 

Business and economics folks do not seem to agree on who’s a real entrepreneur. From economist perspective, “The entrepreneur is one who is ready to bear the danger of a new venture if there is a significant chance for gain. Others emphasize the entrepreneur’s function as an innovator who markets his own invention. Still other economists say that entrepreneurs create new products or procedures that the marketplace needs and are not now being supplied.”

 

Entrepreneurship concept first came into existence. Ever since then it has evolved into what it has become today. Despite the failure of defining who is a legitimate entrepreneur, we all could agree that entrepreneurs play a important part in enhancing the lives of people in distinct ways. They come up with new ideas which have led them to make business organizations.

 

Trait Approach

 

We can explain who a legitimate entrepreneur is by using the trait approach. Under this approach describes if an individual is a true entrepreneur. The traits are:

 

1.) Risk takers: They know that business ideas that have obtained risks are the ones that yield large profits. Generally, successful entrepreneurs have taken risks to be where they’re now.

 

2.) Enthusiasm: Regardless of the company idea they develop, they have passion for this. Successful entrepreneurs going by being concentrated are kept by passion.

 

3.) Hardworking: Successful entrepreneurs have a frequent trait of working hard. They work hard in discovering that the activities of this business are completed on time and efficiently.

 

4.) Optimistic: Optimism is the trait that successful entrepreneurs have in common. They believe that their ideas will be successful businesses. They have no room for doubting their business ideas.

 

5.) Good Leadership: They have the trait of superior leadership. Successful entrepreneurs know how to inspire their employees in attaining success so they provide their best. They produce targets and policies for their companies. They oversee that these policies are followed as well as the goals are accomplished in time.

 

6.) Launched and Persistent: Successful entrepreneurs are persistent and determined in creating their new small business ideas successful. After experiencing any failures in executing some jobs, they don’t give up because they are motivated by achievement rather than cash, but they’re decided and persistent. Money is a reward they get.

 

7.) Flexible: Entrepreneurs who have triumphed respond to market needs swiftly. They react to them so as not to lose their customers; there are changes in market demands. Every time a change occurs, they hunt for chances to exploit. Successful entrepreneurs have a common trait to varying economic conditions of adapting their entrepreneurship ventures.

 

8.) Creativity: They study and think of innovative new business ideas. Successful entrepreneurs continuously innovate new ways of satisfying customers.

 

9.) Organization Ability: Successful entrepreneurs are well organized. They organize factors of production like land, labor and capital in conducting their entrepreneurship ventures.

 

Considering all the information, I recommend you to not fail to appreciate what a genuine entrepreneur is working on. He’s optimistic that one day his business idea is going to be a business.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.