by Danny Moorjani
When you see or hear a new word, what do you normally do? Do you ignore it or do you try to look it up in Wikipedia, Google, Yahoo or maybe – a dictionary? Most people would probably do the latter – look it up. If you’re doing business, you might want to look up ‘entrepreneur’.
Why?
Well, are you an entrepreneur?
According to the more reliable dictionaries, there is a specific definition of entrepreneur. “An entrepreneur is a businessperson who finances or initiates emerging commercial enterprises.”
Basically, he or she is the person who provides the capital of the business. However, I my opinion, providing capital alone is not enough to be called an entrepreneur.
Why do I say that?
It’s because sometimes individuals prefer to invest in a certain business venture but that person will let someone else handle all the business activities.
Anybody who finances a business venture and runs it can be called an entrepreneur but in my opinion, it would probably be more accurate to call these people investors or venture capitalists.
I would be more inclined to agree with leading economists who say, an entrepreneur is a person who develops a fresh and new product, a new way of producing something, or an innovative marketing strategy. Usually, entrepreneurs start with a small business and if it proves to be successful, the business will slowly expand.
So why start a small businesses? Small businesses require smaller amount of capital while larger ones demand huge capital. In a soft economy, most entrepreneurs are not able to secure cheap loans, nor are they willing to take the risk of putting up big businesses without expensive research and studies.
Some say that being an entrepreneur starts at birth. The qualities are already possessed by the child from the moment of birth. The individual is already a thinker and planner.
These individuals will want to reach the impossible. So if you’re a born entrepreneur and want to make the impossible possible, it’s important that you properly learn to develop and sharpen those skills and qualities to give you the competitive edge.
Starting a new enterprise may sound very hard but for the budding entrepreneur but as I said earlier, almost anything is achieveable if you have the right tools.
Innovation, creativity, leadership, being a risk-taker, having the right tools and having the right inner drive or passion are some of the keys to being a successful entrepreneur. If you possess these things, nothing can stop you from being one of the biggest names in the marketplace. Prime examples of these are Richard Branson, Donald Trump and our own Li Ka-Shing.
There are thousands of opportunities that you can find from emerging sectors like communications, culture, and science and technology. However, there are probably only a handful that will appeal to you and that you are suited to. All you need to do is identify these sectors which you will perform best in and turn them into a real business enterprise. However, choosing a good business opportunity requires careful study and market research. Even if entrepreneurs are known to be risk-takers, they still have to make sure that they are making a sensible choice.
Being an entrepreneur is an exciting and challenging task if you have the guts, the capital, the right inner passion, appropriate qualities, skills and most importantly – the right skills!
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About The Author: Danny Moorjani is a behavioural specialist, a NLP trainer and primarily treats Phobias, Anxiety and OCD / OCB. His corporate website at www.power-one.org offers practical solutions for anybody who needs to know more about human behaviour.
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