December 5, 2017

What is an entrepreneur?

Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.
An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.

According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success.

source: 
http://www.businessdictionary.com/definition/entrepreneur.html

What is entrepreneurship?

Entrepreneurship is a complex term that's often defined simply as running your own business. But there's a difference between a "business owner" and an "entrepreneur," and although one can be both, what distinguishes entrepreneurship is a person's attitude.

"Entrepreneurship is much broader than the creation of a new business venture," said Bruce Bachenheimer, a clinical professor of management and executive director of the Entrepreneurship Lab at Pace University. "At its core, it is a mindset – a way of thinking and acting. It is about imagining new ways to solve problems and create value."

Passion is the real drive, wrote Juan Jose de la Torre for Entrepreneur Middle East. An entrepreneur possesses an interior fuel and stamina that drives their actions, he said. This superior energy helps to overtake and surpass the different challenges, and it injects strength to continue pursuing goals when difficulties arise.

In another Business News Daily article, Jenny Ta, CEO and founding partner at VCNetwork.co, said successful entrepreneurs are typically confident and self-motivated. They are tenacious but understand their own limitations. Instead of following the status quo, entrepreneurs have a healthy disrespect for established rules and often set out to do things that others may not have the courage to pursue. They are also willing to fail and start over again, internalzing the lessons they've learned to create something new and improved.

"An entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skillset, will, and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market but make it a viable product and/or service that people want or need," said MJ Gottlieb, co-founder of consulting firm Hustle Branding and author of "How to Ruin a Business Without Really Trying" (Morgan James Publishing, 2014).

Source:

https://www.businessnewsdaily.com/2642-entrepreneurship.html