What is an Entrepreneur? If you search the net you will find out various definitions about it. Consider the following definitions of “entrepreneur”: one found in Merriam-Webster’s dictionary, the other from Dictionary.com and the last one from investopedia.com.
- Merriam-Webster: “one who organizes, manages and assumes the risks of a business or enterprise.”
- Dictionary.com: “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.”
- Investopedia.com: “an individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.”
All of these definitions are correct and would point out to a single concept: “An Entrepreneur is one who creates, assumes risk and reward to pursue their ideas and concepts of a business or an enterprise.”
Entrepreneurs are necessary for a country’s economy to grow. It plays an important role in achieving high economic response. Since entrepreneurs create enterprises, along with it are jobs, income and positive gross domestic outputs. Every enterprise helps, no matter how small or unnoticeable it is. As long as it generates jobs, promotes income and increases output it will make a chain-reaction effect all throughout. Each and every proprietor out there has its own role to play for the global stability of the economy.
The challenge of being an entrepreneur is creating or innovating new things and determining possible business opportunities. It is a continuous cycle: CREATE/DETERMINE, INVEST, BUILD, AND REPEAT.
While some think of entrepreneurs as crazy bunch of people who has a personality disorder of risk addiction, others also give high regard on what they do in order to create an impact to the society.
To put it simply, Entrepreneurs are change makers! The ability to create new product or determine opportunities, pursuing it, regardless of the availability of resources in order to make a living and boost the economy are indicators what makes entrepreneurship hard but still necessary.
The necessity of entrepreneurs is quite evident especially on third world countries. The increasing numbers of unemployment rate all around the globe is far stretch and is expected to fluctuate over time. The job opportunities and creation cannot cope up with the risen number of population for every country.
Bluntly, it is very hard to create and seek for available opportunities nowadays. Everything seems to be present and available. There is also this difficulty of having that competitive edge against corporations with names and money that could eat you up if you play within the status quo. But you should not be discouraged nor feel threatened. Remember, some things you see today might not yet exist yesterday. Those things you grow up with are foreign to your grandparents or even to your parents. The point is, the world is continuously revolving and accompanying it are people’s wants and needs. BE PATIENT, BE OBSERVANT, and BE OPPORTUNISTIC.