About Entrepreneur
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About entrepreneur Entrepreneurship can be defined by describing what entrepreneurs do. For example: " En tr eprene ur s use pe rs onal in iti ative, and e ngage in calculated ri s k-taki ng, to create new busin e s s v e nt ur e s by rai s i ng r es our ce s to apply i nnovative new ideas th at so lve pr oblems , meet chall e nges , or s atisfy the nee ds of a clearl y de f in ed mark et." But as the following definitions state, entrepreneurship is not restricted to business and profit: " En tr eprene ur s hi p in volve s b r in gin g about change to achi e ve some be nefi t. Th is be nefi t may be f inancial but i t also involves the s atisfaction of knowi ng you h ave change d s ome thing for the better. (E ntr eprene ur s hi p: Cr e atin g a Ve ntu re by Lily Kretchman et al. Toronto: Wiley, 1991.) " En tr eprene ur s hi p is e s s e nti all y the act of crea ti on r e qui r in g the a bil ity to r e cog ni z e an opportu ni ty, s hape a goal, and take adv antage of a s it uati on. En tr e pr e neur s pl an, pe r s uade, r aise r e sour ce s , and give bir th to ne w ve ntu r e s ." (En tr e prene ur s hi p: T he S pir it of Adventu r e by Richard Bodell et al. Toronto: Harcourt Brace Jovanovich, 1991.) Who are e ntrepreneurs? E: xamine needs, wants, and problems to see how they can improve the way needs and wants are met and problems overcome. N: arrow the possible opportunities to one specific "best" opportunity. T: hink of innovative ideas and narrow them to the "best" idea. R: esearch the opportunity and idea thoroughly. E: nlist the best sources of advice and assistance that they can find. P: lan their ventures and look for possible problems that might arise. R: ank the risks and the possible rewards. E: valuate the risks and possible rewards and make their decision to act or not to act. N: ever hang on to an idea, no matter how much they may love it, if research shows it won't work.
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About entrepreneur
Entrepreneurship can be defined by describing what entrepreneurs do. For example:
" Entrepreneur s use personal in iti ative, and engage in calculated risk-taki ng, to create new
business ventur es by raising resour ces to apply innovative new ideas that solve problems, meet
chall enges, or satisfy the needs of a clearl y def ined market."
But as the following definitions state, entrepreneurship is not restricted to business and
profit:
" Entrepreneur ship involves br inging about change to achieve some benefi t. This benefi t may
be f inancial but i t also involves the satisfaction of knowing you have changed something for
the better. (Entr epreneurship: Creating a Venture by Lily Kretchman et al. Toronto: Wiley,
1991.)
" Entrepreneur ship is essentiall y the act of creation requir ing the abil ity to recognize an
opportuni ty, shape a goal, and take advantage of a situati on. Entrepreneurs plan, persuade,
raise resources, and give bir th to new ventures." (Entrepreneur ship: The Spir it of Adventure
by Richard Bodell et al. Toronto: Harcourt Brace Jovanovich, 1991.)
Who are entrepreneurs?
E: xamine needs, wants, and problems to see how they can improve the way needs and
wants are met and problems overcome.
N: arrow the possible opportunities to one specific "best" opportunity.
T: hink of innovative ideas and narrow them to the "best" idea.
R: esearch the opportunity and idea thoroughly.
E: nlist the best sources of advice and assistance that they can find.
P: lan their ventures and look for possible problems that might arise.
R: ank the risks and the possible rewards.
E: valuate the risks and possible rewards and make their decision to act or not to act.
N: ever hang on to an idea, no matter how much they may love it, if research shows it
won't work.
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E: mploy the resources necessary for the venture to succeed.
U: nderstand that they will have to work long and hard to make their venture succeed.
R: ealize a sense of accomplishment from their successful ventures and learn from their
failures to help them achieve success in the future.
Characteristics of Successful Enterpreneurs
Entrepreneurs are different from each other, but successful entrepreneurs tend to share
certain characteristics. Not all of them have developed each of the following to the same
degree, but they tend to have developed most of them to some degree. Here are some
common characteristics of successful entrepreneurs.
Entrepreneurs tend to:
be passionate about achieving their goals
have a spirit of adventure (in fact, the word "adventure" is derived from the Latin
word meaning "to venture")
have a strong need to achieve and seek personal accomplishment
be self-confident and self-reliant
be goal-oriented
be innovative, creative, and versatile
be persistent
be hardworking and energetic have a positive attitude
be willing to take initiative
have a strong sense of commitment
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Take
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Passed to: Passed by:
Maam cadidia umpa Mohammad O. Mangorangca
