What Exactly Is An Entrepreneur?
by Takara Alexis

An entrepreneur is a person who takes on the risk of beginning a new business or putting together a new product. Why do entrepreneurs take this risk? The most obvious response is for money. Entrepreneurs, like every one else, need money so they can survive. But, entrepreneurs have a passion for doing things differently from other people. They tend to think creatively. They enjoy challenges and the risk of a new business venture is the perfect challenge.

Not everyone who starts a business is an entrepreneur. Many people start businesses to fill gaps between jobs. Or, some begin businesses because of the advice from someone else. Maybe an accountant told you about potential tax savings from starting your own business. Entrepreneurs start businesses because of passion for a dream and vision. They usually find new business ideas by trying to solve old problems in new ways.

As an entrepreneur you are your own boss. You make your own decisions and don't have to answer to a manager or superior. This is also one of the things that makes entrepreneurship difficult because that means it is up to you to figure out how to make the business work.

You have the chance to make money doing something you love, rather than working at a job you don't like just to make ends meet. Being an entrepreneur give you the chance to establish your own job security. You might seek the advice of other business owners, or employees if you have them, but ultimately, every decision about your business falls on your shoulders. You will pay the price for bad business decisions, but you also get the benefits from the good ones.

Entrepreneurs are always negotiating, not only with customers, but also with other people who are key to the business, like suppliers and lenders. Being a successful negotiator means you can always come up with a solution where everyone wins. No one walks away from the deal feeling like they were taken advantage of. This way, you'll establish the type of relationships that can keep your business going.

As a small business begins to expand, it becomes increasingly hard for the entrepreneur to work alone. You'll have to hire people to help you do some of the business tasks. Otherwise, the quality of work may suffer because you're trying to do jobs you do not have the time or skills to execute. Even worse, the business might fail.

It isn't enough to delegate tasks and forget them. As an entrepreneur, you are still ultimately responsible for the work established for your business. So, you have to ensure the jobs you've assigned are completed on time, within cost, and at the expected quality. Make sure your employees have the skills, money, and time they require to perform that task you've assigned.

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