Today, we’re going to do a bit of a 101 experience. I help business owners and executives strengthen their leadership teams, but there is frequent talk about being an Entrepreneur. What is that exactly?
Entrepreneur – A word that has been associated in many fields and is defined in a variety of ways.
The word itself is of French origin which evolved into meanings that pertain to people who take the risks, founders of businesses and or someone who is accountable in case of failure or success in a business venture. Being a person who founded a new enterprise, it is also understood that entrepreneurs take the largest part when it comes to risks inherent to businesses. After all, they are normally the owners of the company or the business unit.
The common perception with entrepreneurs is that they are the founders of new entities that aim to offer innovative or existing services or products in the market. The talk of profit or non-profit issues also varies, depending on the type of business structure that is used.
Entrepreneurs are, of course, one of the main components of the capitalistic world. They take the largest loses or gains since they are the manipulators of the funds. Central to this is the belief of opportunities in a specific area that requires the filling of the demands. They are like the providers for the needs and thus, they take the gain in exchange for the provision. They are basically service- or product-oriented who device means to create the fillers for the two said demands. The main focus of their acts is towards the gain of profit.
In the United States, there are about 1,800 companies considered to be “large”. Yet there are over 32 million registered small businesses; the entrepreneurs. The segment is clearly a mainstay of the economy.
There are many types of typical entrepreneurs. And because of this evolution from the simple merchants to the more sophisticated corporate men, entrepreneurship has also matured in ways unimaginable when men first thought of selling their own produce.
The Risk Bearers
Risks are sometimes incalculable and rather undefined. They come as problems arise and they develop as more problems sprout. There are no specific ways by which risks come out. They just do and they seem to be integral parts of most business ventures. Entrepreneurs are not only risk bearers, they also take on all the disadvantages of uncertainties.
Risks can be something like insurance principles. Meaning, there are methods by which their intensity or frequency of risk can be measured. Thus, we can provide options in decreasing one’s susceptibility to risks. However, uncertainties may be considered to be more on the subjective side.
Since all risks can’t be calculated and their very nature can’t be estimated, it is easy to assume that entrepreneurs can be characterized both as decision-makers and improvisers. They provide solutions to immediate and long-term demands, which are uncertain, even when business routines are carefully structured.
Entrepreneurs certainly are great risk takers. Without this element of uncertainty, no business can create new, never before seen solutions and products. There are things that must be met with responses that are creative and productive for the business.
Entrepreneurs are typically the founders. It is only proper that they are equipped with facilities that make leaders lead. Founders are the leaders of the pack, they are the builders. They too are planners and the organizers of schemes for giving birth and growth to a business organization.
They are the planners for maximizing the resources. They combine specific factors like land resources, the capital from a partner, the labor of his employees or the resources that came from him to create products that would meet certain demands.
They will then create organizational tactics to come out with the earnings of the profit after everything is settled.
Being the organizers, it is understood that they are also the leader. Organizers always have the authority to set things in their proper places. They can be a leader because of position in the organization (i.e. the founder), but not necessarily a good leader.
Being a good leader is a matter of having a strong combination of values and abilities that will nurture and inspire the team. And because not all are born leaders, nor were made leaders, too few really achieve successes in business. However, leadership alone is not at the core of entrepreneurship. The founder can have a great vision that can become wildly successful, but they must have leadership surrounding them in order to accomplish the greatest achievements.
Entrepreneurship is the will; the will to start with uncertainty and keep believing that it shall, in the end, turn out well.
If your effort to become an entrepreneur could use a boost, I offer two options.
First, you can schedule a short and free chat to discuss your situation. If I can help in any way, we’ll figure that out quickly. LINK HERE to set that call.
Or… you can visit my Finding the Edge website. At this site, I am offering the best collection of resources, tools, tips, and hacks to help new entrepreneurs grow the business FAST! I have partnered with a very successful group of business growth experts. They have poured their 20+ years of experience into this powerful platform.
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