I realized that entrepreneurship has been a reality for many years, and many people do not know the definition of an entrepreneur. It is because there is the question of whether entrepreneurs are created or born. What is more, do entrepreneurs come from birth, or are they made? If we get into this debate, we may not reach a consensus.
What is the reason there isn’t a consensus regarding whether or not entrepreneurs are created? In the first place, entrepreneurs are born because a few individuals have come up with innovative business concepts that are now recognized as successful. Still, they were not taught how they could become successful entrepreneurs. However, entrepreneurs are born because successful business owners have completed the entrepreneurship classes (diploma or degree programs) offered by universities and colleges.
Does it really matter that we haven’t succeeded in defining the definition of an entrepreneur?
My personal experience is that we had an entrepreneurial research center for ten years. In the past; 10 years, we attempted to define an entrepreneur, and we didn’t succeed. We all had an idea of what was, in his view, an acceptable definition. I don’t think you’re going to reach any further than that. Dr jay Feldman.
Based on what I learned in high school on business subjects, an entrepreneurial person can be defined as “a person who sets up successful businesses and business deals.” But this definition doesn’t provide a precise definition since not every person who creates an enterprise and makes it successful is a businessperson. There’s more to what an authentic entrepreneur is than establishing the business and operating it with success.
Business and economics experts aren’t able to be able to agree on what constitutes an entrepreneur. From an economist’s perspective, “The entrepreneur is willing to bear the risk of a new venture if there is a significant chance for profit. Others emphasize the entrepreneur’s role as an innovator who markets his innovation. Still, other economists say that entrepreneurs develop new goods or processes that the market demands and are not currently being supplied.”
The concept of entrepreneurship first appeared in the early 1700s and has since evolved into what it is now. Despite the difficulty of defining what a true entrepreneurial person is, we can acknowledge that entrepreneurs play an important part in improving individuals’ lives in various ways. They have innovative ideas that can lead them to establish companies.
They not only create jobs directly or indirectly, but they also assist people in different ways. Entrepreneurs make new products or modify existing ones to resolve problems faced by people.
Trait Approach
We can define who an entrepreneur truly is using the trait method. In this method, the typical traits experienced by successful entrepreneurs indicate what makes a person truly a professional. These traits include:
1.) taking risks: They take risks when they discover potential business opportunities, and they know that high-risk business concepts will produce high profits. Most successful people have taken risks to get the position they are in now.
2.) The Passion Whatever business idea they develop, they are passionate about it. Passion drives successful entrepreneurs by keeping their eyes on the prize.
3.) Work-hardy: Successful entrepreneurs have the common trait of working tirelessly. They are dedicated to ensuring that all tasks in the company are completed punctually and efficiently.
4.) Positive: Optimism is the characteristic that successful entrepreneurs share. They are convinced that their ideas will succeed as business models the next time they think of them. They don’t have a reason for questioning their business plans.
5.) Effective Leadership The HTML0’s possess the characteristic of a good leader. Successful entrepreneurs can motivate their employees to strive to achieve success. They set up guidelines and goals for their business, ensure that the policies are adhered to, and the plans are completed promptly.
6.) Persistent and Determined: Successful entrepreneurs are determined and persevering in making their business concepts profitable. They do not give up even after a few failures in the execution of certain tasks, but they’re also persistent and determined because they’re driven by success instead of money. They believe that money is just the reward they earn.
7.) flexible: Entrepreneurs who have quickly responded to market demands. When there are changes to the market, they can respond to them quickly to avoid losing customers. They look for opportunities to capitalize whenever a shift occurs. Successful entrepreneurs share the characteristic of adapting their entrepreneurial business to the changing economic environment. “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity-By Peter Drucker.”
8.) Creative thinking: They research and come up with innovative business concepts that are innovative and new. Entrepreneurs who are successful constantly invent new ways to please their customers.
9.) Ability to organize: Successful entrepreneurs are well-organized. They arrange production elements like labor, land, and capital for their entrepreneurial ventures.
With all the information above, I encourage you not to forget what an entrepreneur of the highest caliber is striving to achieve. It is because a genuine businessman is never satisfied, regardless of the failures he encounters in the execution of tasks. He is confident that one day his idea for his business will succeed.