Entrepreneurs are persons that undertake and operate a new enterprise or venture and are accountable for the associated and inherent risks. When an enterprise is created with the purpose of making profits, the founder of such an enterprise is most often known as an entrepreneur. The entrepreneur is the person that forms a new entity to offer new or existing products or services into new or existing markets. The characteristic of an entrepreneur is that he or she can perceive and hold strong beliefs regarding market opportunities and will accept a high level of personal, financial, and professional risk to further that opportunity. The entrepreneur is a critical component of the capitalist society and is highly regarded in the US and in most other economies.
Entrepreneurs are persons that can organize as well as manage an enterprise and is an employer of productive labor and one who has dealt with or who initiates an enterprise. He or she is the decision-maker whose role stems from alertness to unnoticed business opportunities and who utilizes resources in novel ways to achieve entrepreneurial ideas.
The entrepreneur is the person that organizes a system that will create or sell, or both create and sell, a product or service to make a profit. He or she will also be an agent that buys factors of production at a price in order to combine them into a product that can be sold at another and higher price in the future. Uncertainty is the risk that is not insurable and which also cannot be calculated. The entrepreneur is an economic functionary who undertakes the responsibility of uncertainty that is not insured or capitalized or salaried against this uncertainty. The entrepreneur is a decision-maker who can improvise solutions to problems that are not able to be solved through existing means.
The entrepreneur is the person that may combine the land of one, labor of another, and capital of yet another and so produce a product that, when sold in the market, will fetch enough to pay interest on capital, rent on land, wages to employees and what remains shall be his or her profit. The entrepreneur is usually a strong personality who is able to lead others, has good management ability, and team building qualities that are essential in any good entrepreneur.
The essential characteristics of an entrepreneur are a desire to achieve, being able to perform hard work, desires to work independently, having a nurturing ability, accepting of responsibilities, is reward oriented, is full of optimism, is drawn towards excellence, has good organization abilities, and is profit oriented.
Wade Anderson is a CPA and operates DigitalWorkTools.com
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