An entrepreneur is somebody who grows a business model, acquires the essential physical and human capital to start a new project, and operationalizes it and is accountable for its success or failure. He Notes the importance of the phrase answerable for success or failure. The entrepreneur is different from the professional manager in the sense that the former whichever invests his or her own resources or raises capital from peripheral sources.
He also takes the blame for the letdown as well as reaps the rewards in case of achievement whereas the latter or the specialized manager does the job and the work allocated to him or her for a financial consideration. In other words, the entrepreneur is the risk taker and apacesetter in addition to being aninventor of new enterprises whereas the professional manager is simply the executor.
He has to be an innovator
Moving to the skills and competences that an entrepreneur needs to have, first and foremost, he or she has to be atrendsetter who has a game changing idea or a possibly new concept that can prosper in the crowded market. Note that investors typically tend to invest in ideas and concepts which they feel would produce adequate returns for their capital and investments and therefore, the entrepreneur needs to have a truly pioneering idea for a new venture.
- You will be your own Boss – Make choices, choose who you want to work with, when you want to work with them and for what quantity you work for.
- You choose how to operate your business, abstract and design your setup and work exactly how you want your sales and operation movements to be
- You have the freedom to chooseyou’re working hours, as well as what to pay and when to take holidays.
- You get more time to devote with your family and live the life that you want.
Freedom of choosing your own Projects
If you want to know that what is entrepreneur and what are the advantages of becoming one then the advantage of becoming an entrepreneur is a real motivation for people to quit job and do things on their own. Have you ever worked on a certainly, really boring, annoying, meaningless project that was however treated by your boss as if it were censoriously important? They have worked in so many places where all the details and really absurd procedures took at least half of my day. They think these were the moments where they felt the most urgent need to get out and become an entrepreneur. So many hours lost in devastating processes.
Thus, becoming an entrepreneur will help you in different manner. This helps a person to be their own boss.The entrepreneur have to be accomplished with marketing, business developments, leadership, execution, customers services, resilience, focus, determination, continuous learner and talents acquisition.
Many entrepreneur care about a cause so intentionally that build an empire to solve some of the toughest problems. If you are looking to make your mark on the world then solve a big problems or advance society.
