Define Entrepreneur

Define EntrepreneurEntrepreneur DefinedIn the field of business, the people involved inthe playoffs are called the entrepreneurs. Theyare also referred to as businessmen. They own andrun their own businesses. In the strictest sense,the definition of what a real entrepreneur isvaries.The only certain thing is that, entrepreneurs arevery much involved in today 抯 American businessarena. Tracing history back, it is said that theterm entrepreneur has been conceivablyrecognized as an adamant part of the economicworld only in the mid 1970s. The concept has then

started to evolve with various meanings dependingon the understanding of the society that givesmeaning to it.In an online dictionary as defined by the Webster抯 Revised Unabridged Dictionary, in the year1913, entrepreneur has been defined as the personwho makes some products for his own benefit oraccount. This gives about the idea that the termhas successfully evolved way back in the year 1913.Now such definition may quite be blurry.How can a person be called an entrepreneur whenhe does nothing with that product aside formcreating it? What term will be labeled to a personwho takes other people 抯 products and make asuccess out of them? Will they be not branded asentrepreneurs too? According to Merriam-Websterdictionary, an entrepreneur is someone whoorganizes, who manages, and who assumes the risksposed by the business or enterprise world. Nowthis definition of an entrepreneur is richer in

content compared with the first one. Risks 梩 heseare literally faced by entrepreneurs as theypursue with any type of investment in the market.In a much formal definition of Ashoka, anentrepreneur goes to refer to an organizationalsociety that promotes nothing but social change.Social entrepreneurs are those individuals whoopen up some new and major possibilities in theareas of health, education, environment, and allother areas of the human needs.To drive a stricter point, the businessentrepreneurs are those who lead the innovationsin the world of commerce while the socialentrepreneurs are those who drive social changein the society. In more ways than one, suchdefinition all the more points out that thosebusiness entrepreneurs not only start with anytype of business but they do promote change withinthe business range.

Dale Tucker, a personal entrepreneur, goes todefine the term as an individual who decides totake hold and control of his own future andtherefore become a self-employed person either bycreating his own business or by working with ateam just like what multi-level marketing means.On the other hand, Mark Hendricks suggests thatfor one person to be called an entrepreneur, heneeds to be particularly daring. He must be ableto meet the challenge of either winning or losingin the business. He therefore must be open to thepossibilities of the results of the competition.So how can an entrepreneur be tailored to be one?What business skills are required in order tobecome an entrepreneur? There are pointers thatmust be looked into before someone may divulgeinto any business venture. The following are someof the qualifications to look into:Planning and organization. These include thesetting up and the attainment of specific goals,

qualification to enter into a commitment, andthen being able to keep up with work schedules.The capacity to handle money. Budget must becarefully determined, loans must be secured,funds must be raised, and all of the finances mustbe recorded. For all these things, anentrepreneur must be an expert.The selling of products and ideas. Anentrepreneur should be acquainted with the properway of selling. In the world of business, theproducts whether they take the form of materialsor ideas need to sell out in order to gain profit.Management. Anyone who does not have themanagement skills is not fit to be anentrepreneur.The ability to work with people. A good rapportis always needed in an entrepreneur. If he isunable to influence people then he will not likely

succeed.The ability to be a risk-taker. In the world ofbusiness, wins are not always secured. There areonly two possibilities: winning and losing.Whichever phase confronts him, a goodentrepreneur knows how to handle it.