Who Is an Entrepreneur?
Many people in today's world would say that there is no specific definition when it comes to the term Entrepreneurship. This term, Entrepreneurship is a tricky term to define because of how many different factors are in this one term. Society came to a realization that in order to define this word we need to look at the personality traits an entrepreneur has. When people think of the word 'Entrepreneur' they think of these people as risk-takers. Entrepreneurs tend to not be frightened by the uncertainty of things in their life. Entrepreneurs portray confident traits, we see these traits within the work and businesses they produce.
The personality characteristics of the entrepreneur are ancillary
to the entrepreneur's behaviors. Research on the entrepreneur should focus on
what the entrepreneur does and not who the entrepreneur is.
This behavioral view of entrepreneurship is not new. (Gartner 1988, p.11)
This quote demonstrates how people try to define Entrepreneurship in a logical manner. Entrepreneurship can not be defined this specific way because the term has to do with the person's personality traits and how they work. What makes an entrepreneur is the traits they have and how they use these traits to make a living. I have first hand seen what it is like to be an entrepreneur because my father is one. My father has a huge personality and is very out-going. One thing I have noticed what is different about my dad compared to a normal person is that his main goal in his work is to make connections. Growing up, the main thing he taught me is that connections is what will help me in life and getting a job. My father is a huge risk taker, he is unsure of most outcomes but strives to have confidence no matter what. Just looking at the behavioral aspects of an entrepreneur you can tell they are different than an average person. There are so many different traits that come with being an entrepreneur. Most people think entrepreneurs are small business owners and this is not correct. Small business owners are people that are content with where they are at with their company. A small business owner has their business as a side job or a hobby they enjoy. Entrepreneurship gives people the chance to find new groups that come up with new things that make a large profit.
The True Meaning of Entrepreneurship
Entrepreneurs are what make America so great. Being an entrepreneur means that you need to have confidence because you are the head of everything for the company. As an entrepreneur you play every part on the company because you are on your own. Instead of just looking at an entrepreneurship's personality people also look at them economically. In order to be a successful entrepreneur you have to know how to manage your finances correctly.
This human capital approach to entrepreneurship
rejects the idea of entrepreneurial rewards as a
return to risk. Schultz maintains that although risk
is omnipresent in a dynamic economy, there is no
exclusive connection between risk and entrepre-
neurial activity. (Herbert, Link 2017, p.46)
This quote explains how most people don't look at entrepreneurship as a specific thing. Many people are afraid of being risk-takers because people are terrified of failure. Entrepreneurs are so successful because they tend to not worry about the fear of failing. I have to disagree with the author saying "there is no connection between risk and entrepreneurship". There is a connection with risk and entrepreneurship. Most entrepreneurs have to be risk-takers in order to grow their company. You can't be afraid of an outcome if you have not even tried. This is why entrepreneurs are not afraid to take the risk. Not every definition has to be so precise. I feel like researchers don't want to associate risk-taking and entrepreneur because it's not a formal definition. Economics and entrepreneurship go together because in order to have a successful business you need to know what is going on in economics world.Being an entrepreneur is a lot of work because you are every position in the company and everything is on you.
How is an Entrepreneur an Entrepreneur?
Being an entrepreneur is all about connections. Without these big connections it's hard to get your name out there and become known. Most entrepreneurs are impulsive and do things without making a plan. Entrepreneurs are kind of all over the place with their work because they have to deal with so much but still manage it all. Sarasvathy states that in the effective process it matters who the entrepreneur is, what she knows, and the connections she has (Sarasvathy 2006, p.4). I completely agree with this because being an entrepreneur is all about these three things. You need to know what you are doing and you need to know certain people to be chosen to help run a company.
Instead entrepreneurs focus on
building partnerships right from the start. In
fact, the ideal beginning for a successful startup
seemed to be the induction of customers into
strategic partnerships. (Sarasvathy 2006,p.5)
I think building relationships is the biggest thing for an entrepreneur. You have to have a certain personality and mindset to make these great connections. You also have to keep in touch with these connections in order to keep them. Being an entrepreneur is not super strategic, it's all about ethics.
References
Gartner, W. B. (1988). “Who is an entrepreneur?” is the wrong question. American journal of small business, 12(4), 11-32.
Hébert, R. F., & Link, A. N. (1989). In search of the meaning of entrepreneurship. Small business economics, 1(1), 39-49.
Sarasvathy, S. D. (2006). What makes entrepreneurs entrepreneurial?