Entrepreneurship - Who Is An Entrepreneur?

 I came to comprehend that entrepreneurship has been there for therefore a few years which many of us cannot define correctly who an entrepreneur is.


This is often because there's a disagreement of whether entrepreneurs are born or made. By the way, are entrepreneurs born or made? I'm afraid if we start this discussion we'd not conclude.





Why is it that there's no universal agreement on whether entrepreneurs are born or made?


According to Chad Storey, first entrepreneurs are born because some people have come up with new business ideas that are currently recognized as successful businesses but these people were never educated on a way to become entrepreneurs.


On the opposite hand, entrepreneurs are made because some successful entrepreneurs have studied entrepreneurship courses (diploma and degree programs) offered by colleges and universities.


Is it true that individuals haven't succeeded in defining who a real entrepreneur is?


My personal experience was that for ten years we ran a pursuit center in entrepreneurial history; for ten years we tried to define the entrepreneur. We never succeeded.


Each folk had some notion of it what he thought was, for his purposes, a useful definition. and that I don't think you are going to urge farther than that-By Arthur Cole.





According to what I studied in high school under the topic of business, an entrepreneur is "one who sets up successful businesses and business deals."


But this definition doesn't bring out a transparent definition because not everyone who sets up a business and is running it successfully is an entrepreneur.


There's more of who a real entrepreneur is aside from putting in place a business and running it successfully.


Economics and business people don't seem also to agree on who could be a true entrepreneur.


From an economist's point of view, "The entrepreneur is willing in touch the chance of a brand new venture if there's a major chance for profit.


Others emphasize the entrepreneur's role as an innovator who markets his innovation. Still, other economists say that entrepreneurs develop new goods or processes that the market demands and aren't currently being supplied."


The entrepreneurship concept first came into existence within the 1700s. Since then it's evolved to what it's now today.


Despite the failure of defining who a real entrepreneur is, we can all agree that entrepreneurs play a significant role in enhancing the lives of individuals in many various ways.


They are available up with new ideas which have led them to form business organizations.


These organizations other than creating job opportunities directly or indirectly they also serve people in various ways. 


Entrepreneurs are viewed as folks that either create new products or improve the present products so on solve problems facing people.


Trait Approach


We can describe who a real entrepreneur is by using the trait approach. Under this approach, the common traits successful entrepreneurs possess describes if someone may be a true entrepreneur.





The traits are:


1.) Taking Risks:


They take risks after they need discovered viable business opportunities. They already know that business ideas that have gotten high risks are those which yield high profits said "Chad Storey".


Generally speaking, successful entrepreneurs have taken risks to be where they're now.


2.) Passion:


Regardless of the business idea, they are available up with, they need a passion for it. Passion keeps successful entrepreneurs going by being focused.


3.) Hardworking:


Successful entrepreneurs have a standard trait of working hard. They push in seeing that every one the tasks of the business are completed on time and efficiently.


4.) Optimistic:


Optimism is that the trait that successful entrepreneurs have in common. They believe that within the future their ideas are successful businesses. they need no room for doubting their business ideas.


5.) Good Leadership:


They need the trait of excellent leadership. Successful entrepreneurs understand how to motivate their employees so that they furnish their best to achieve success.


They create policies and goals for his or her businesses. They oversee that these policies are followed and therefore the goals are accomplished on time.


6.) Determined and Persistent:


Successful entrepreneurs are determined and chronic in making their new business ideas successful. 


They do not hand over after experiencing some failures in executing some tasks but they're persistent and determined because they're motivated by success and not money. For them, money is just an award they get.


7.) Flexible: 


Entrepreneurs who have succeeded answer market needs swiftly. Whenever there are changes in market needs they reply to them swiftly to not lose their customers.





They look for opportunities to take advantage of when a change occurs. Successful entrepreneurs have a typical trait of adjusting their entrepreneurship ventures to fluctuating economic conditions said, Chad Storey.


"The entrepreneur always searches for change, responds thereto, and exploits it as an opportunity-By Peter Drucker."


8.) Creativity:


They research and are available up with creative 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 labor, land, and capital in running their entrepreneurship ventures.


With all the above information, I urge you to not fail to understand what a real entrepreneur continues to be acting on.


This can be because a real entrepreneur never gives up regardless of the failures he experiences in executing some tasks.


He's optimistic that in the future his business idea are a successful business.

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