Entrepreneur

Definition:

Entrepreneur’ is a French word which means to undertake, to pursue opportunities, to fulfill

needs and wants of the people through innovation and starting business. An entrepreneur
undertakes a venture, organizes it, raises capital to finance it, and assumes the whole or major
part of the risk of business. In other words, entrepreneurship is the process of giving birth to a
new business. An entrepreneur is one of the most important inputs and segments of economic
growth. He/she is one of the responsible person who can set up a business or an enterprise.

Entrepreneur can be defined by different individuals as follows:

 An entrepreneur is a person with a high need for achievement. He is energetic and a

moderate risk taker (David McClleland, 1961)
 An entrepreneur searches for change, responds to it and exploits opportunities.
Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts
a source into a resource.(Peter Drucker, 1964).

How To Become A Successful Entrepreneur:

It’s important to state from the outset that there is no magic bullet that can transform you into
a rich and successful entrepreneur overnight. However, for those prepared to work hard to
succeed, there is an almost formulaic blend of entrepreneurial skills that can help set successful
businessmen and women apart from the rest:

1. Don’t take ‘no’ for an answer

2. Learn from the best

3. Stay hungry and ambitious

4. Never stand still; evolve with the times

5. Nurture long-term business relationships

6. Inspire those around you

7. Trust your gut instinct, not just your spreadsheet.

Example of an entrepreneur:

Steve jobs:

Steve Jobs is an entrepreneurial legend. He famously

started Apple in a garage with co-founder Steve
Wozniak in 1976 after dropping out of
college. According to Jobs, two things are required to
build a successful company: passion and people. His
legacy includes the Mac computer, the iPod, iPhone
and iPad.

Steve Jobs was an influential entrepreneur, investor

and innovator who is considered to have been one of the most brilliant and powerful men in
the worlds of business and technology. Job’s career had more triumphs than defeats and was
he stands out as one person who revolutionized numerous fields. Compared with other leading
technologists and entrepreneurs, Jobs was able to achieve great success in distinctly different
industries. Being a strongly opinionated perfectionist clearly driven by success in any venture
he undertook, Jobs was able to transform, at global scales, a number of industries. Walter
Isaacson, a notable biographer recognizes Jobs as a creative entrepreneur whose passion and
ferocious drive revolutionized six key industries including; phones, digital publishing, tablet
computing, animated movies and personal computers. Jobs is, the ultimate icon of
entrepreneurship, inventiveness and applied imagination, an individual who could best create
value by integrating creativity, technology and entrepreneurship skills. Steve jobs Success
Story teaches us that no matter how difficult the situation is. We should always learn from our
past and keep moving forward in direction of your dreams. Always keep moving forward with
belief in yourself and your dream. Forgive the people who demotivated you and keep moving
forward.