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11 Jul 2016
Entrepreneurship - Who Is A business owner?

Yosef Ocbai



I came to understand that entrepreneurship continues to be there for thus a long time which there are lots of people who cannot define correctly who an entrepreneur is. The reason being you will find there's disagreement of whether entrepreneurs are born or made. By the way, are entrepreneurs born or made? I'm afraid as we start this discussion we may not visit a conclusion.



Do you know of there is absolutely no universal agreement whether entrepreneurs are born or made? First, entrepreneurs are born since there are a lot of people who have develop start up business ideas which can be currently acknowledged as successful businesses however these people were never educated concerning how to become entrepreneurs. Alternatively entrepreneurs are made since there are some successful entrepreneurs who have studied entrepreneurship courses (diploma and degree programs) made available from colleges.



Is it true that individuals have not succeeded in defining who a real entrepreneur is?



 My personal experience was that for ten years we ran a study center in entrepreneurial history; for a decade we experimented with define the entrepreneur. We never succeeded. Everyone had some understanding of it-what he thought was, for his purposes, a handy definition. And that i don't think you will definately get farther than that-By Arthur Cole.



In accordance with things i studied in senior high school underneath the subject of economic, a business person is "a individual who sets up successful businesses and business deals." But this definition will not reveal a clear definition because not every person who arranges a business which is running it successful is an entrepreneur. There exists a greater portion of who a genuine entrepreneur is other than generating a business and running it successfully.



Economics and business owners don't appear also to agree on that's an authentic entrepreneur. From economist standpoint, "The entrepreneur is a that's prepared to bear the risk of a new venture if you have a tremendous chance of profit. Others emphasize the entrepreneur's role as a possible innovator who markets his innovation. Still other economists say that entrepreneurs develop new goods or processes how the market demands and are not becoming supplied."



Entrepreneurship concept first came into existence from the 1700s. Since then they have evolved to what now it is today. Inspite of the failure of defining who a genuine entrepreneur is, we can all agree that entrepreneurs play an important role in helping the lives of individuals in various ways. They are available up with new ideas who have led these phones create business organizations.



These organizations besides creating occupations directly or indirectly additionally they serve individuals different methods. Entrepreneurs are viewed as those who either create new products or increase the existing products in an attempt to solve problems facing people.



Trait Approach



We can describe who a real entrepreneur is to use the trait approach. Under this method, the common traits successful entrepreneurs possess describes if someone is a true entrepreneur. The traits are:



1.) Taking Risks: They take a risk after they have realized viable work at home opportunities. They already know that businesses who have got high risks are the type which yield high profits. Generally speaking, successful entrepreneurs have risks being where they're now.



2.) Passion: No matter what business idea they are offered on top of, they've got adoration for it. Passion keeps successful entrepreneurs going by being focused.



3.) Hardworking: Successful entrepreneurs have a common trait of spending so much time. They work tirelessly in seeing as all the tasks from the business are completed punctually and efficiently.



4.) Optimistic: Optimism is the trait that successful entrepreneurs have in common. They presume that down the road their ideas will probably be successful businesses. They have no room for doubting their business ideas.



5.) Good Leadership: They have the trait of fine leadership. Successful entrepreneurs know how to motivate their employees so that they give their best in attaining success. They've created policies and goals because of their businesses. They oversee these coverage is followed and also the goals are accomplished by the due date.



6.) Determined and protracted: Successful entrepreneurs are determined and persistent to make their new business ideas successful. They don't really quit after experiencing some failures in executing some tasks however they are persistent and determined because they are motivated by success and never money. On their behalf, funds are simply a reward they get.



7.) Flexible: Entrepreneurs who may have succeeded respond to market needs swiftly. Whenever there are modifications in market needs they respond swiftly in order not to lose their potential customers. They seek out opportunities to exploit whenever a change occurs. Successful entrepreneurs use a common trait of adjusting their entrepreneurship ventures to fluctuating economic conditions. "The entrepreneur always looks for change, responds to it, and exploits it as being an opportunity-By Peter Drucker."



8.) Creativity: They research and come up with creative new company ideas. Successful entrepreneurs continuously innovate new means of satisfying customers.



9.) Organization Ability: Successful entrepreneurs are organized. They organize factors of production including labor, land and capital in running their entrepreneurship ventures.



Because of the above information, I urge you not to are not able to appreciate such a true entrepreneur is still taking care of. For the reason that a real entrepreneur never surrenders regardless of failures he experiences in executing some tasks. He's optimistic any particular one day his business idea might be a successful business.

Yosef Ocbai



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