The Meaning That Defines an Entrepreneur

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.

Good luck with your future

Be an Entrepreneur

You know those people, right? Those people that are always wheeling and dealing; making deals with almost everyone they meet. Those people are surely entrepreneurs, right? They probably are not. Strictly defined, an entrepreneur is someone that manages an enterprise. Making deals might be a part of being an entrepreneur, but it isn’t everything.

So, who is an entrepreneur? Being an entrepreneur is so much a part of who we are as humans that anyone can be an entrepreneur. Being an entrepreneur encompasses everything that we humans seek out; social interaction, competition, building alliances, helping others and doing all this in a way that benefits society as a whole. If any of these things are activities that you like to do, then you can be an entrepreneur. You just need to learn how, right?

Learning how to be an entrepreneur, a good entrepreneur, is a lifelong process. You don’t have to have a formal education, in other words a college degree, but you do need to learn. What you need to learn depends on what you want to do as an entrepreneur.

A common way people are entrepreneurs is to be business owners and operators. If you have a passion for a product or service, this might be for you. If you aren’t a hands-on type of person, you may want to be an investor and invest in companies that you believe in. This can be done through stocks or by simply finding a privately owned business and buying it. In this way, you can let more qualified people make the business successful.

Any business, whether operated by you or simply owned by you, requires knowledge of the market, local, state and federal laws (possibly international laws, too), knowledge of accounting, marketing, business management and a variety of other trades. You don’t have to be an expert, but you either have to have enough knowledge or know people that have enough knowledge if you want to be successful.

So where do you get the information you need to be a successful entrepreneur? You probably aren’t going to find all of the information you need all in one place. Legal knowledge can be found in law books at a library and online, or you can hire a lawyer. Libraries and book stores are great places to find information on marketing, accounting and industry specific information. Trade magazines and online news groups and associations are great places to learn from other people how they accomplished their goals and how to avoid problems they experienced in their endeavors.

You now know a little bit of what you can do and how to get the information you need to move forward with being an entrepreneur now. Have fun and enjoy the journey.

Entrepreneur News- 3 Ways To Get Your Reconnaissance

As an entrepreneur, information is the base of all profits. Knowing how to get the right information about your projects and doing it quietly is like money in the bank.

1) Networking is number one on the list. A good working relationship with a selection of peers can really help in finding and assessing projects. It takes time to develop a good network of hand picked people that you commonly keep contact with. Trust is a big issue but more importantly quality of positioning is more of an issue. By positioning I mean how that person fits within the relationship of the type of project you do and where they fit within that scheme. For example a rich source of contacts is the humble sales person or broker. They are easy to meet and very willing to do business with you even if you aren’t buying anything from them initially. Real estate agents, Car dealer principles and Marine brokers all fit in this group. It depends on your market, your niche of course.

Experts and valuers are also excellent quality positioning candidates for your network. Finally your competition. Other entrepreneurs that deal prolifically in your market. This last one might seem counter intuitive, but entrepreneurs often “hunt” in groups and help each other. There are only so many projects you can take on at any one time, however your network will continue to keep filling your Hopper with fresh leads and contacts. These can be traded or exchanged for favours later on or Joint Venture’s could be formed with other entrepreneurs. Usually there are two elements that stop you from taking every acceptable project that arrives on your door step, they are time and money. You may be over extended financially but have lots of time up your sleeve with the way your current project is structured. So you can often trade off with another entrepreneur who has funds, but is over committed time wise. And vice versa.

2) Expert authors are an excellent source of inspiration and information. By seeking out authors that deal with topics that you yourself are engaged in you leverage your knowledge. By reading a lot you save time and money by avoiding problems and being opened up to seeing things in different ways. Authors often are old hands looking for a less strenuous way of moving in some income and their own insight is often worth the cents per dollar you pay for their information.

3) Current people you are doing business with. Making a profit is seen as a shameful thing. Well not quite, but we tend to deal with the people that are directly responsible for our profits with guarded care. This is a reasonable attitude, however it need not be so guarded. If they are happy with the deal they made, there is no reason why you should feel concerned about their having remorse. Its not your concern, you are an entrepreneur not a nurse maid. With this in mind, often a chatty attitude will uncover all sorts of insights from the people you do business with. Maybe they know somebody else who is in precisely the same position they were in and you could repeat your deal with their acquaintance. Possibly the biggest reconnaissance you can get from people you have done business with is to be able to identify your own strengths and weaknesses through their eyes. What this does is give you valuable insights into how you operate and how you can improve that core business of yours…..doing deals.

Martin Thomas (c)2005