What is an Entrepreneur?

by Prince Yusadolat

By Fatima Balde

Entrepreneurship involves taking certain business risks, proper planning and being creative. An entrepreneur is someone who takes on the risk of starting a new business or creating a new product. Entrepreneurs often work in small niche markets to create a new product or service. The most obvious reasons why they do take the risk is money. Entrepreneurs, like every one else, need money to survive. But, entrepreneurs have a passion for doing things differently from every one else. They tend to think creative. They like challenge and the risk of a new business. Entrepreneurs have often shown a hint of entrepreneurship even as kids perhaps organizing a family garage sale, selling candy to friends on the school bus, or running the neighborhood lemonade stand.

Not everyone who starts a business is an entrepreneur. Some people start businesses to do between jobs. Entrepreneurs start businesses based on the passion for a dream and vision.  They often find new business ideas by trying to solve old problems.
What Makes a Successful Entrepreneur?

Risk-taking is just one of the qualities an entrepreneur must have to be successful. Good planning skills. Although, lack of a good business plan is one of the reasons why many small businesses don’t make it, but also with other people who are key to the business, like suppliers and lenders. Being a successful negotiator means you can always come up with a solution where everyone wins. No one walks away from the deal feeling like they were taken advantage of. This way, you’ll create the type of relationships that keep your business running long-term.

As a small business begins to grow, it becomes increasingly difficult for the entrepreneur to work alone. You’ll need to hire people to help you do some of the business tasks. Otherwise, the quality of work may suffer because you’re trying to do jobs you don’t
have the time or skills to complete. Even worse, the business could fail.

Checking the work done by others

It’s not enough to delegate tasks and forget them. As an entrepreneur, you’re still ultimately responsible for the work done for your business. So, you have to make sure the jobs you’ve assigned are done on time, within cost, and at the quality you expect. Make sure your employees have the skills, money, and time they need to deliver what you’ve assigned.

Make it very long

Successful entrepreneurs take the time to plan out their business ventures before taking on the risk.

Entrepreneurs are always negotiating, not only with customers, but with other business negotiator and CEO of other companies and other people. So being an entrepreneur is that hard, just always have the key state of mind and creative idea. Thank You.

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