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The True Definition of Entrepreneur

The only constant in the business world is change. Many businesses fail. Some struggle to make a small profit. Many are bought out. Few grow into huge global success stories, but the few that do are most certainly being directed by a true entrepreneur. Steph Korey

Every business owner is an entrepreneur. However, entrepreneurs bring key personal traits to running a company that others lack. In addition to developing, nurturing, and administering their start-ups, they actively search for better ways of doing business. They look to the future. An entrepreneur is always on the look-out for the next big development in their respective industry.

Much of the definition of entrepreneur is embodied in the German word; zeitgeist. Zeitgeist means to live in the spirit of the times; in the core of the era. Zeitgeist is the cultural, intellectual, or political climate of a nation or a specific group. Ones level of entrepreneurship lies heavily on this idea, and the ability to take advantage of opportunities it brings to light.

Entrepreneurs strive to find the best candidate for the job. They look for people who are motivated and excited about the business and the work. A true entrepreneur mentors, delegates, and expects excellence from the firm’s employees. When an entrepreneur finds an employee doing something right he or she acknowledges it. Appreciation of the company’s workers fosters productivity, cooperation and loyalty. True entrepreneurs intuitively grasp the importance of a workforce that likes to come to work every day.

Entrepreneurs understands the importance of communication. He or she is open to suggestions and new ideas. The entrepreneur shares information that is necessary to meet the company’s goals.

He or she takes the risks and assumes responsibility for both the good and the bad decisions.

While they are natural risk takers, entrepreneurs are not reckless. They investigate the unique and creative opportunities presented to them. They listen. They ask questions. Facts are considered and information weighed. However, a good entrepreneur will also follow his/her instincts.

The entrepreneurial businessman or woman searches out ideas and concepts that will move the business forward. They are skilled at identifying factors to enhance the business, its assets and its place in the global marketplace.

The enterprise is never permitted to stagnate under old rules and rigid formulas. True entrepreneur’s live in the present, but are always preparing for the future. With that in mind, would you consider yourself to be an entrepreneur?

 

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