Who is an Entrepreneur?

Economists and business people differ in their definitions of entrepreneurship
Many agree that entrepreneurship is vital for stimulating economic growth and employment opportunities in all societies
It is particularly true with developing world, where successful small businesses are the primary engines of job creation and poverty reduction
Here, we are to be introduced to the fundamentals of entrepreneurship
We will also discuss the essentials for building and running a business from the planning stages to marketing a product

CHARACTERISTICS

It is being true to a dream while also being mindful of market realities
A story is told about an entrepreneur who started a fancy shop selling only French pastries
But customers wanted to buy muffins as well
It can't substitute for planning, but it will help them to stay focused and to get others to look at their plans
Self-confidence comes from thorough planning, which reduces uncertainty and the level of risk It also comes from expertise
Self-confidence gives the entrepreneur the ability to listen without being easily swayed or intimidated
Determination is the extremely strong desire to achieve success
It includes persistence and the ability to bounce back after rough times
It persuades the entrepreneur to make the 10th phone call, after nine have yielded nothing
For the true entrepreneur, money is not the motivation
Success is the motivator; money is the reward
Flexibility is the ability to move quickly in response to changing market needs