October 3, 2015
What is an Entrepreneur?
It’s often said, that an entrepreneur is a person who sees an opportunity; seizes it and exploits it with little to no regard to the barriers of the opportunity. This seems like a very “textbook” definition of an entrepreneur. It is easier to enumerate the definition of an entrepreneur with three essential characteristics:
- Courageous and Fearless – An entrepreneur is a person who’s courageous enough to think outside the box or see an opportunity outside the status quo. He or she is fearless enough to create something with the perceived opportunity, creating a new niche in an existing market or even generating a new market. They exploit new opportunities, through designing actions to develop a business plan as well as acquiring the resources needed such as human, financial and locational assets. He or she is not afraid of failure. In fact, an entrepreneur capitalises on these failures so as to learn more about the opportunity.
- Risk Taker – An entrepreneur is a risk taker. Entrepreneurship is associated with true uncertainty. This means, there is no statistical data to prove that the new opportunity will work; and no procedure or system which guarantees the success of this opportunity. This is not to say that they will not do their research but that their USP stands out from the crowd and offers an edge which is unique. Even though this edge may still be uncertain and off track, an entrepreneur sees this as novel and takes the risks in pursuing it. He or she is willing to risk and put everything on the line for the sake of his or her idea or opportunity, including career and financial security.
- Motivated and Hardworking and Keeps the Company of Like Minded Individuals – An entrepreneur is driven and works hard to make the opportunity into a reality and a success. He or she is relentless in honing or crafting the idea or opportunity to perfection. They also make sure that the people working for and with him or her feels the same way. This is because there is the understanding that the idea or opportunity can only be achieved through hard work and teamwork of the necessary blend of talents.
For more help on starting a business, call DAA Consulting today on 01707 527725 or contact us here.