Entrepreneur Defined Explained
Among the world of business today the people that are at the centre are known as entrepreneurs other names they can be recognized for are businessmen, they are the sole owners who run the business however the meaning of a real entrepreneur varies.
Entrepreneurs are very much interlinked to the American business world, if you look back in history you will find that the term entrepreneur has been recognized as the adamant part involved in the economy since the mid 1970s so depending on the concept with each various meaning comes from the understanding of today’s society.
Webster’s revised dictionary defined that back in 1913 entrepreneurs were the people who make products for a beneficial purpose only, so it would seem that over the years this term has successfully evolved from back in the 1913s, in today’s world though this definition would seem quite blurred.
You may ask yourself how a person can be known as an entrepreneur when all he seems to do is produce a product. What then is a person recognised as that takes and labels some other persons product and makes a success from them? Would they not be named as an entrepreneur as well? According to the Webster’s dictionary an entrepreneur is a person who organizes, manages and takes on all the risks that are relevant to that business this definition is richer in content compared to the one above the risks they face are the ones that most businesses face with their investments in the market.
Social entrepreneurs are people who start up a new line of business within the health, educational and many other subjects that they feel they can promote within the social change, a definition that was put forward by Ashoka refer to the entrepreneur as a person that organizes society that promotes social change.
Those people who lead the innovations within the world of commerce is better known as a business entrepreneur where as those who are known are social entrepreneurs are the marketers that drive social change to society. To sum all this together such definition points out that a business entrepreneur can not only start and promote any type of business but they can also promote change within this industry, one entrepreneur defines the term as a person who decides to take hold of his own future and becomes a self employed person earning his own income from the products he wishes to promote creating his own business, he can also joint venture becoming part of a team such as multi level marketing.
For a person to be called an entrepreneur he needs to be daring by taking risks he needs to accept the challenges of either winning or losing in the business world and keep an open mind to the possibilities with the results from that business,
What skills do you require to become an entrepreneur?
There are a few pointers that need to be addressed before you venture into the business of entrepreneurship the following list can help you prepare:
Plan and organize: This is part of the setting up and specifying that goal that you wish to commit to keeping to the work schedule that you put in place.
Working with people: socializing with people is always needed in an entrepreneur for if you cannot interact or influence people chances are you will not succeed.
Handling money: Your budget is important your business needs to be carefully worked out, all financial transactions have to be recorded such as loans and other costs you may encounter while you are setting up your business; the entrepreneur has to be an expert in this field.
Selling products and ideas: The entrepreneur needs to know the correct way of selling, it does not matter whether it is the form of information or a material product you will still need to know the correct method to selling as this is the only way you are going to make a profit.
Management: some say if you do not have management skills that you should not be an entrepreneur, I disagree with this in some respects somewhere inside each of us is the skill to manage ourselves you decide what is the right or wrong way to do things if you are working with a budget you know how much you need to put aside for business expenses, everyone is a manager of his own life in some way or another, If you truly desire to become an entrepreneur then you will.
Risk taking: Like any business venture risks are there, winning is not always possible there are two possibilities one is winning the other is losing, whichever one confronts you anyone with good business sense will know how to handle the problem.