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What is an entrepreneur

Author: entreptreneur

Entrepreneur

In the strict definition of the term, an entrepreneur is a person who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome. There is more to it than that.
Speak to any entrepreneur and they will also reveal a personality trait that would be best be described as an “out of box” personality. A person who looks for solutions for common (and sometimes uncommon) problems. Often they have the kind of personality that reveals itself as an independence streak; one which seeks to be self determining rather staying in job or role that is strictly regulated by a job description and reporting to a boss. More than money as a goal, entrepreneurs seek this independence, financial freedom and their own ‘vehicle’ from which to express themselves.

Entrepreneur's Characteristics

Take a look at a number of successful entrepreneurs and you will note certain characteristics that, when viewed at as a whole, appear to account for a kind of ‘shopping list’ of attributed necessary to be successful. You would note a quality of determination, of self-reliance, a strategic thinker, a risk-taker.
The average person, from a personality perspective, is mostly risk averse, that is, they seek job security and financing security. These are not high on the entrepreneur’s set of criteria. Whereas the average person is quite comfortable in a job which provides them a decent salary and some kind of career track ,the entrepreneur, typically is a risk taker. They see opportunity where others may see risk. They se a problem waiting to be solved whereas the next person may not have any sight at all about this “problem.”
Indeed this is one of the strong, discerning characteristics of an entrepreneur: they have almost an innate capacity to identify a problem that is really an opportunity.

Dan Joyce Young Entrepreneur

Consider the case such of Dan Joyce as an illustration;
Dan Joyce was a successful analyst working for Macquarie Bank when at the age of 23 he identifier a “problem” waiting for a “solution.” He had a friend staying with him at one time – a French man – who, after dinner and some drinks with friends, asked Dan (at around midnight) where the nearest DVD “kiosk” was. Three years ago there were no DVD kiosks in Sydney or anywhere else in Australia.
But Dan’s friend was accustomed to walking out of his apartment in Monmatre in Paris at any hour and use his credit card to dispense a movie from an auto-operated vending type machine. That set Dan off into his entrepreneurial venture – RedRoomDVD now operating half a dozen or so kiosks with plans to install several hundred around shopping malls in Australia.

Anyone Can Be An Entrepreneur

Despite the fact that such personalty traits are prevalent in the more stereotypical entrepreneur outlined earlier, it is possible for anyone to become and entrepreneur. The challenge is mindset. As we noted earlier, where the average person is more risk averse than the entrepreneurial ‘type’ that does not mean they can’t adopt a more entrepreneurial “mindset”.
It requires a kind of ‘re-wiring’ of thoughts. For example, looking at an ‘opportunity’ with a more objective view. The Dan Joyce case was not a flash-in-the-pan outcome. It took months of travel and research and some serious capital to get the idea up and running. The homework does not eliminate the risk, it simply enables the ‘solution’ to be carefully defined and planned, thus reducing the ‘perceived’ risk. Some people are very good planners and despite their fears or their risk aversion, they too can undertake the entrepreneurial pathway.
Above all, an entrepreneur needs to be self-aware; that it takes a good deal of planning and aligning of resources before a new venture can be undertaken.

www.youngbusinessnetwork.com.au


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