Whenever the term entrepreneur is mentioned, what comes in the mind of many is money. But then who or what is an entrepreneur? Jean Baptiste, who is believed to have coined the term “entrepreneur”, defined an entrepreneur as an individual who starts an enterprise, particularly a contractor, and acts as the intermediately between labour and capital. An entrepreneur can be described as an individual who has purposed to undertake one or more new enterprises and accepting financial risks. An entrepreneur in most societies is highly valued and thus is often encouraged by being given easy access to management advice, tax exceptions and inexpensive capital. An entrepreneur has to have willingness and ability to make own decisions even where there is no solid date. An entrepreneur should also have creativity and be a great risk taker. As an entrepreneur one will be moved by the necessity to come up with a new thing making it tangible.
Any entrepreneur must realize that entrepreneurship is sometimes tricky and difficult and may result into failing of new ventures. He is expected to create value by providing a service or a product. One duty of an entrepreneur is to spot an opportunity in the market and then exploit it, which he does by planning resources effectively so as to accomplish ending that alters the present interactions within a particular sector. Before one becomes an entrepreneur, he or she must be a self starter, not waiting until another makes a decision on his behalf. An entrepreneur should also be able to create working connections with customers, staff, vendors and professionals. Since being an entrepreneur is quite challenging, one need to be emotionally and physically strong.
Every entrepreneur must know how to organize in inventory, financials, schedules and production as this assists them to not fail in their ventures. Being an entrepreneur is advantageous in that one gets to be his own boss and gets more own profits after working hard. The growth and earning potentials of an entrepreneur are not so much limited as the harder he works the greater the returns. Being an entrepreneur also allows one to have endless challenge and more opportunities to learn. In addition being an entrepreneur is quite exiting. A social entrepreneur operates in the market aiming at creating social value by improving services and goods that are offered in the community. Such person aims at offering better services and in the process improves his community.
