What Does It Take To Be A Real Entrepreneur Essay

‘Herewith appear to be the most pressing matters; one, infective and inexperienced entrepreneurial leadership. Two, the dialectic nature between front of house and back of house, and three, a lack of general training motivation and direction in original concept.’

Sobel (2008), an entrepreneur is “someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change”. Sometimes becoming a successful entrepreneur is not about whether or not you have your M.B.A, it’s about your willingness to dedicate part of your life, money, and everything else to fulfilling your dreams. As Sobel’s definition includes the word “manages”, many entrepreneurs do have an advanced degree in some form of business to provide them with the knowledge to successfully manage their company. This provides them with the ability to handle their own payroll, accounts payable and receivable, and human resources. Entrepreneurs have many risks involved when beginning their company, such as: not succeeding, running out of money, or having to relocate. These risks were more common years ago when investors were not so easy to find and money was not so loosely handed out. Today’s entrepreneurs can usually fund themselves or have plenty of support from individual or group of investors. However, no matter the monetary support you have, an entrepreneur must make their company appeal to the public or their targeted group of customers. A successful entrepreneur cannot give up when things get tough, they have to accept what happened, provide a solution, and move

Entrepreneurs get so involved in taking the company off the ground that they lose focus on efficiency

Entrepreneurs are risk takers in the market. They are willing to gamble their hard work for a business that may fail or succeed. Many fail to keep their business alive, however; others are lucky to compete and survive in the market. Entrepreneurs like Maribel Galsim, owner of Maribel’s Daycare, were successful in their business. Maribel’s Daycare was successful because of hard work, patience, and being adaptable.

Sujan Patel, a self-proclaimed entrepreneur and marketer and VP of Marketing at When I Work, wrote an article for Entrepreneur.com titled “7 Things Confident Entrepreneurs Never Do.” While this article is not an exhaustive list of mistakes entrepreneurs can make, it gets the main point across—entrepreneurs need to be confident because self-confidence is key in the decision-making process (Schermerhorn). Patel says they need to be tenacious and determined and have faith in order to be successful, but he points out seven things to avoid at all costs.

A remarkable amount of people most definitely agree that an entrepreneur is someone who started his or her business. Understand that this bland definition does not quite give a full understanding of entrepreneurship. When launching any form of entrepreneurial leap, it will create circumstances that can make you better as a person mentally, physically, spiritually. By understanding your passion and visualizing the dreams you possess can push start your drive to become an entrepreneur. Entrepreneurship also requires a massive amount of trust in not only for yourself but your product and employees. At one point of most entrepreneurs life they have gone through the worst imaginable, having resilience most definitely sets them apart from the average. Even though it is extremely difficult to accept tough times, your dream should not go on pause. As an entrepreneur having patience and controlling the situation, especially tough ones is a major key factor on entrepreneurship. Thus being said there are 5 great qualities that describe a successful entrepreneur resilience, agility, Patience, trust, and passion.

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

Many first time entrepreneurs focus on the ideal luxury of upfront cash flow; although, it is not a necessity. A business owner must understand that entrepreneurship includes, but not limited to, day to day risk, having effective marketing strategies, and productive communication with colleagues and employees. Many entrepreneurs have failed to apply these basic concepts or gave up on their dream.

Repeat entrepreneurs know they have the ability to identify an opportunity and turn that opportunity into a business. In most cases, they have already done it at least once. Unfortunately, this does not mean that the first business was a success or that they will be able to repeat the success the first business may have had. In fact, if the first business was a failure, there are indications that the second business may fail as well. Recent research “shows that instead of learning from mistakes, entrepreneurs are just as apt to be overoptimistic after failure as before. Their overoptimism remains undimmed by failure” (Ucbasaran, Westhead & Wright, 2011). This overoptimism can cause an entrepreneur to take on risky opportunities, fail to properly plan for the unforeseen or waste financial resources instead of looking for and finding the right opportunity.

The following seven key lessons are to help any beginner entrepreneur strive for success with a little more ease than as if they were to tackle it without any guidance. This book will focus on seven key lessons to becoming a successful entrepreneur as well as examples of entrepreneurs that have become successful either following these methods or creating their own pathway through the battle of entrepreneurship. To become and entrepreneur there are the lessons, the theories, the playbook that exists for entrepreneurs to help them succeed, but the ones who really thrive are the ones that will be taken about in the following pages. These entrepreneurs followed the lessons and took every step a successful entrepreneur should take to become

We will need to send the bank quarterly statements using this format for the startup loan. It is good to use GAAP in the accounting process for any business so that all financials are being reported fairly and accurately. Sunshine Bakery will use the cost principle “The cost principle (or historical cost principle) dictates that company’s record assets at their cost.” (Weygandt, J., Kimmel, P., & Kieso, D. (2012)

Becoming a business owner is one complex process one could undertake since aside from discovering a person’s self and entrepreneurship spirit, one needs to understand key business practices, importance of business models and how to position a start up business in a competitive advantage.

Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest

You need to launch a business internationally and you need to choose 3 countries 1 in the Middle East, 1 in Asia, 1 in Latin America:

Business success may causes due to many factors, but the greatest determinant of the business success is the entrepreneur himself / herself. Therefore, the question of what makes a successful entrepreneur is very important. There have been many answers to this question. Some people think entrepreneurs are born, others that they are made. Some see entrepreneurs as passionate leaders with a vision that is totally focused on one objective, while others describe them as compulsive controller. Some says entrepreneurs are risk takers while others say they are