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The Meaning Of Entrepreneur Explained

By Adam Crawford

In an online dictionary as explained by the Websters Revised Unabridged Dictionary, in the year 1913, entrepreneur has been defined as the person who makes some products for his own gain or account. Now such a description may be a little blurry.

According to Merriam-Webster dictionary, an entrepreneur is somebody who organizes, who supervises, and who takes the dangers posed by the business or enterprise world. Now this definition of an entrepreneur is more substantive in content when compared to the first one.

So how can an entrepreneur be tailored to be one? What business qualities are required in order to develop into an entrepreneur? There are pointers that must be looked at before someone may get involved into any business venture. The ensuing are among the prerequisites to look into:

improve your capability to be a risk-taker. In the environment of business, wins are not always safe. There are only two alternatives: winning and losing. Whichever probability confronts him, a good entrepreneur knows how to cope with it.

Arrangement and organization. These involve the setting up and the attainment of specific goals, qualification to enter into a obligation, and then being able to keep up with work schedules.

The capacity to manage money. Budget must be carefully figured out, loans must be secured, funds must be generated, and all of the monetary resources must be documented. For all these things, an entrepreneur must be an expert or have the cunning to employ one .

The promoting of goods and concepts. An entrepreneur should be acquainted with the appropriate way of marketing. In the realm of business, the goods whether they are products or concepts will need to sell out to be able to gain profit.

Management. Anybody lacks management skills is unfit to be an entrepreneur.

The aptitude to work with people. A good rapport is always needed in an entrepreneur. If he is not able to influence people then he will probably not succeed.

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Article Citation
MLA Style Citation:
Crawford, Adam "The Meaning Of Entrepreneur Explained." The Meaning Of Entrepreneur Explained. 25 Jul. 2010. 5 Aug 2014 <>.

APA Style Citation:
Crawford, A (2010, July 25). The Meaning Of Entrepreneur Explained. Retrieved August 5, 2014, from

Chicago Style Citation:
Crawford, Adam "The Meaning Of Entrepreneur Explained"

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