Entrepreneurship – That’s An Entrepreneur?
I found realize that entrepreneurship may be there for so decades and that there are many individuals who cannot define correctly who a business owner is. This is because there exists a disagreement of whether entrepreneurs are born or made. Incidentally, are entrepreneurs born or made? I’m afraid as we start this discussion we might not come to a conclusion.
Do you know why there is no universal agreement whether entrepreneurs are born or made? First, entrepreneurs are born as there are some people who have develop new business ideas which can be currently recognized as successful businesses but these people were never educated on the way to become entrepreneurs. On the other hand entrepreneurs are made because there are some successful entrepreneurs who have studied entrepreneurship courses (diploma and degree programs) made available from colleges and universities.
According to a few things i studied in high school under the subject of business, an entrepreneur is “a one who sets up successful businesses and business deals.” However definition does not draw out a clear definition because few people who sets up a small business and is running it successful is an entrepreneur. There is more of who a true entrepreneur is aside from setting up a business and running it successfully.
Economics and people don’t seem also to agree with who is a true entrepreneur. From economist perspective, “The entrepreneur is one that’s willing to bear the chance of a new venture when there is a significant chance for profit. Others emphasize the entrepreneur’s role being an innovator who markets his innovation. Still other economists point out that entrepreneurs develop new goods or processes how the market demands and are not currently being supplied.”
Entrepreneurship concept first launched in the 1700s. Subsequently it has evolved to what it is now today. Inspite of the failure of defining who a real entrepreneur is, we can all agree that entrepreneurs play a significant role in enhancing the lives of people in many different ways. They come track of new ideas which have led them to create business organizations.
These organizations apart from creating job opportunities directly or indirectly additionally, they serve people in ways. Entrepreneurs are viewed as people that either create new products or improve the existing products in an attempt to solve problems facing people.
We can easily describe who an authentic entrepreneur is by using the trait approach. Under this process, the common traits successful entrepreneurs possess describes if a person is a true entrepreneur. The traits are:
1.) Taking Risks: They take risks after they have discovered viable online business offerings. They already know that business ideas which have got high risks are the ones which yield high profits. In most cases, successful entrepreneurs have risks to be where they’re now.
2.) Passion: No matter what business idea they are offered up with, they have adoration for it. Passion keeps successful entrepreneurs indicators being focused.
3.) Hardworking: Successful entrepreneurs have a common trait of spending so much time. They work hard in seeing that all the tasks with the business are completed on time and efficiently.
4.) Optimistic: Optimism is the trait that successful entrepreneurs have in common. They believe that later on their ideas is going to be successful businesses. They have no room for doubting their businesses.
5.) Good Leadership: They have the trait of fine leadership. Successful entrepreneurs learn how to motivate their employees so they give their best in achieving success. They create policies and goals for his or her businesses. They oversee that these policies are followed and the goals are accomplished punctually.
6.) Determined and chronic: Successful entrepreneurs are determined and persistent in making their home based business ideas successful. They do not give up after experiencing some failures in executing some tasks but you are persistent and determined since they are motivated by success instead of money. For them, cash is only a reward they get.
7.) Flexible: Entrepreneurs who have succeeded respond to market needs swiftly. Whenever there are changes in market needs they respond swiftly so as not to lose their clients. They search for the possiblility to exploit when a change occurs. Successful entrepreneurs use a common trait of adjusting their entrepreneurship ventures to fluctuating economic conditions. “The entrepreneur always mission to find change, responds to it, and exploits it an opportunity-By Peter Drucker.”
8.) Creativity: They research are available up with creative new business ideas. Successful entrepreneurs continuously innovate new means 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 the above information, I urge explore to fail to appreciate such a true entrepreneur continues to be working on. This is because a true entrepreneur never surrenders no matter the failures he experiences in executing some tasks. He could be optimistic that one day his business idea would have been a successful business.