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Entrepreneur

Definitions of Entrepreneur

  • An entrepreneur is a person who undertakes a business venture.
    Although he dropped out of college, Bill turned out to be quite an entrepreneur when he turned his computer hobby into a successful business.


Entrepreneur

In the simplest sense of the word, an entrepreneur is one who embarks on a business venture. Of course, there is much more to an entrepreneur than simply undertaking a business venture. The demands of undertaking a new business venture require a unique set of skills and attributes that may also define an entrepreneur.

Higher Risk Tolerance

Opportunities and business environments are diverse and dynamic. Most new businesses fail. Consequently, entrepreneurs can tolerate greater levels of risk.

Tenacious and Self Motivated

The wind is rarely at anyone's back when getting a business off the ground. Challenges come in all forms, so an entrepreneur may also have to be very tenacious. Sometimes the difference between success and failure in business is simply having the strength to see things through to the end. The ability to find strength and motivation within oneself is inherent in an entrepreneur.

Disciplined

Unlike most jobs in a company, entrepreneurs have to manage themselves and define their own roles. Entrepreneurs need discipline and an ability to follow the path they lay out for themselves. Setting goals and objectives and staying on course is a fundamental part of entrepreneurship.

Self Aware

Entrepreneurs should have a sense of their own strengths and weaknesses. First, entrepreneurs need to understand their abilities and limitations so they don't bite off more than they can chew. Entrepreneurs also need to be self aware so they know how to surround themselves with the right people that will accelerate their success.

Team Oriented

Even the greatest entrepreneurs of all time recognize their success was based on their ability to build the right team. The team may change as the business takes shape and grows, but there is always a team at the foundation of the most successful entrepreneurial endeavors.


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