Entrepreneurship – Qualities You Need

It is almost certain that a country’s economic progress could never happen without a sufficient number of entrepreneurs. These are people who are prepared to risk starting new enterprises whether they are prepared or not. Of the millions of enterprises created in the last hundred years, a handful became conglomerates and household names. Amazingly, the rest, often described as small and medium enterprises provides for eighty per cent of employment. It is thus clear that we need people with the entrepreneur’s mindset to keep our economic progress going.

In an online dictionary as defined by the Webster’s Revised Unabridged Dictionary, in the year’13, entrepreneur has been defined as the person who makes some products for his own benefit or account. This gives about the idea that the term has successfully evolved way back in the year’13. Now such definition may quite be blurry.

How can a person be called an entrepreneur when he does nothing with that product aside form creating it? What term will be labeled to a person who takes other people’s products and make a success out of them? Will they be not branded as entrepreneurs too? According to Merriam-Webster dictionary, an entrepreneur is someone who organizes, who manages, and who assumes the risks posed by the business or enterprise world. Now this definition of an entrepreneur is richer in content compared with the first one. Risks-these are literally faced by entrepreneurs as they pursue with any type of investment in the market.

In a much formal definition of Ashoka, an entrepreneur goes to refer to an organizational society that promotes nothing but social change. Social entrepreneurs are those individuals who open up some new and major possibilities in the areas of health, education, environment, and all other areas of the human needs.

To drive a stricter point, the business entrepreneurs are those who lead the innovations in the world of commerce while the social entrepreneurs are those who drive social change in the society. In more ways than one, such definition all the more points out that those business entrepreneurs not only start with any type of business but they do promote change within the business range.

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Tagged as: business, entrepreneur, Entrepreneurship, Home Based Biz, small business, start a business, start a company, Start up, starting a business