What is an Entrepreneur?

People enjoy a lot oI comIorts as they go through liIe each day. Have you ever wondered who are responsible Ior all these liIe's
comIorts? You have to thank the entrepreneurs Ior it. But, what is an entrepreneur?

Entrepreneur has many meanings. II you want to know exactly what it means, just keep on reading.

A person who assumes business responsibility and the risks that comes along with it is called an entrepreneur. As an
entrepreneur, one expects to make proIits, whether big or small, depending on the business he or she is involved in. generally, the
entrepreneur decides which product or service to oIIer, obtain the needed Iacilities, hires the required labor Iorce, acquire
production materials, and provides Ior the capital.

There is no assurance that the business will become a success. However, iI the business proves to be a success, the entrepreneur
will reap all the beneIits and rewards in terms oI the proIits. In case oI a loss, the entrepreneur will also be the one to suIIer.

Assuming business responsibilities is deIinitely not an easy task. Not many individuals are willing to take huge responsibilities,
and most especially take all the risks. Only an experienced and knowledgeable individual will dare to become an entrepreneur.
The ultimate goal oI an entrepreneur is to earn proIits.

By putting up a small business, you will also earn limited returns but by establishing a big business, you will also earn more
proIits. The choice will depend on the entrepreneur and his or her available resources.

As the most important person in a business venture, an entrepreneur will be the one to decide which product or service to oIIer.
He or she must be able to determine the needs oI the people and provide the answer to such needs. A careIul study oI the targeted
market is required. This takes time because one can't decide immediately what product or service to oIIer.

Once the products or services are identiIied, it is now time Ior the entrepreneur to obtain all the needed Iacilities. This will
include the building or the place oI business.

Along with it are the other things needed such as the oIIice Iurniture, Iixtures, and many other things. The capital is usually
provided by the entrepreneur and a part oI it will be allotted Ior the acquisition oI the Iacilities. Later on, these things will be
considered as one oI the assets oI the business.

Recruitment oI the labor Iorce is also an important part oI being an entrepreneur. The business will not succeed iI it doesn't have
a loyal labor Iorce. Everyone should work together in order to achieve success. It is thereIore oI utmost importance to hire only
the qualiIied employees.
As you can see, the entrepreneur has to take care oI many things. This may be one reason why not many individuals are willing to
become one. II the business succeeds or Iails, it is all because oI the entrepreneur.

Now that you know what an entrepreneur is, would you like to become one? Well, iI you have the right attitude, skills, and
qualiIications, you too can become an entrepreneur. It would be best to embark on a humble beginning. Don't attempt to reach the
peak oI success all at once. It takes hard work, dedication, and perspiration. You must take one step at a time.
Characteristics of an Entrepreneur
It is said that in order to become a successIul individual in whatever endeavor you wish to take, you must have the right attitude
and characteristics. This is also true with an entrepreneur. Not everyone can become an entrepreneur. But beIore anything else,
what is an entrepreneur?

According to one deIinition, an entrepreneur is someone who Iinances or initiates a certain business undertaking. II you too
would want to become a businessperson, you have to possess the characteristics oI an entrepreneur.

What are the characteristics oI an entrepreneur? Are they really important? Well, oI course the characteristics are important
because iI you don't possess them, you will have lower chances in terms oI business success. The characteristics are as Iollows -

1. Risk taker - this is a very important characteristic oI an entrepreneur. II you're not willing to take any risk, then you will not
succeed as a businessperson. In the everyday course oI the business, you will encounter a lot oI problems and challenges which
you need to decide the soonest.

Some risks are worth taking aIter careIul evaluation especially iI it's Ior the good oI the business. II you're not a risk taker, then
you're not an eIIective entrepreneur and you're bound to Iail in your business undertaking.

. Smart - being smart is another characteristic oI an entrepreneur. You have to be clever, keen, and witty in all your business
dealings. You have to show mental alertness and intelligence so that you can win the respect and trust oI customers and other
clients.

3. A leader - leadership is a characteristic that is hard to Iind among individuals. Not many individuals have the nerve to take the
lead. To become a good entrepreneur, you must be a leader. Some say that this is a born characteristic but iI you don't possess it,
you can also learn to become a leader.

You're quite lucky iI you're a born leader because you only have to develop your other qualities and use them when you choose to
become an entrepreneur. As a leader, you should be able to guide, inIluence, and direct people. This way, you can handle all your
business activities with ease and Iewer worries.

4. Inner passion for business - another important characteristic is having the right passion Ior business. You have to maintain
your enthusiasm and interest in the business. As long as you have the right drive and passion, you can run the business Ior a long
time.

5. Honest and trustworthy - some say that eighty percent oI an entrepreneur's time is dedicated to pooling and attracting
customers. This may be true because without the customers, the business will not exist. You have to be honest and trustworthy so
that you can develop good will.

There are other characteristics that an entrepreneur should possess. These characteristics help him or her do all the business
responsibilities and obligations that need to be done.
These are also the keys to business success. II you want to Iinance a certain business venture and run the business yourselI, you
should develop these characteristics. Without them, your business will soon Iail and you will suIIer the losses.

Be thankIul iI you already have the characteristics oI an entrepreneur. All you need to do now is to study the market careIully,
think oI a good business venture, and provide Ior the capital and you're all set.
Entrepreneurship: Stories of Famous Entrepreneurs
Time is oI the essence. So why waste it when you can proIit a vast amount oI money and be the boss oI your own company at the
same time? For those who seek success beyond unimaginable boundaries, entrepreneurship would be the answer. Probably this is
what's running inside the minds oI the renowned entrepreneurs oI our economic era.

Empowered by determination and guts and eliminating the process oI Iailure, an entrepreneur should always be on the grasp Ior
suitable products to suIIice the masses. This paved their way through stability, Iame and power. Take it Irom these Top 5
personalities who gained so much Irom starting so small. Focus on their step by step challenges and experiences.

Bill Gates. As a billionaire dropout not Iinishing his education during his junior year at Harvard University, Gates is considered
as one oI the most Iamous individuals oI our time. With a vision oI personal computers emerging out oI the mainstream, he
teamed out with his colleague, Paul Allen who also studied in Harvard. Together, both oI them leIt the university in exchange Ior
a dream that led them both to their multibillion business, MicrosoIt Corporation.

Oprah WinIrey. At a very young age oI 19, Oprah started her anchoring career Ior a TV station situated in Nashville, Tennessee.
From there, she pursued her dream and traveled to Chicago. Not more than a month, The Oprah WinIrey Show was born and talk
show was never the same. Surpassing other local networks, it was tagged as one oI the best talk shows that entered national
television. Aside Irom being a host, Oprah Iounded Harpo, Inc. and O, The Oprah Magazine.

Walt Disney. Snow White, Cinderella, Sleeping Beauty, Beauty and the Beast, Pinocchio, Fantasia.need I say more? The man
behind the world's most Iamous mouse used to be a Red Cross volunteer during World War I.

With his talent as a cartoonist, Disney made his 1st debut with Plane Crazy, introducing our beloved black and white mouse.
Riding with the Ilow oI Hollywood revolution, he advanced Irom a silent cartoon to a talking Mickey Mouse. Then everything
Iollowed. His enthusiasm made him sit on top oI Disneyland garnering 26 Oscars.

Sam Walton. Does Walmart and Sam's Club ring a bell? Thanks to the undying loyalty oI Sam Walton to achieving a retail
business not beneIiting only himselI but also his Iellow Americans, everyone can live like everyone else.

Born to one oI the wealthiest Iamilies, Walton pioneered the retailing business by putting up stores that reached the whole oI
America like a caravan. Thus, he was recognized as one oI the most inIluential people chosen among many by Time Magazine.
Ray Kroc. Mr. Hamburger guy here who once made a living as a milk-shake man envisioned a Iast Iood company that can deliver
quality service in the name oI chow time. Rapid proliIeration oI McDonald's Iranchises which were oI reasonable costs generated
massive income. Seeing this burger phenomena eat its way through, Kroc remained aIloat with the priority oI oIIering Iood and
service perIection to customers worldwide.

As evidence, these renowned entrepreneurs made everything possible just by living up to their dream oI becoming someone
everybody could appreciate and look up to. Starting Irom scratch, but reaching to this point oI earning so much cash. You too
could be an entrepreneur. Point is, when you dream, dream big.
ENTREPRENEURIAL TRAINING AND DEVELOPMENT
INTRODUCTION:
Entrepreneurial training and development can be deIined as 'a programme designed to help an
individual in strengthening his entrepreneurial motive and in acquiring skill and capabilities
necessary Ior playing his entrepreneurial role eIIectively. It is necessary to promote his
understanding oI motives and their impact on entrepreneurial values and behavior Ior this
purpose.
The participants are exposed to a general knowledge oI entrepreneurship such as Iactors
aIIecting small-scale industries, the role oI entrepreneur in economic development,
entrepreneurial behavior and the Iacilities available Ior establishing small-scale enterprises.
The Training inputs under this aim at Inducing and increasing the need Ior achievement among
the participants. This is in Iact , a crucial input oI entrepreneurship training. EIIorts are made to
inject conIidence and positive attitude and behaviors among the participants towards business.
It ultimately tries to make the participants to start their own business enterprise aIter the
completion oI the training programme
Successful entrepreneur
are invited to speak about their experience in setting up and running a business which will give
motivation to the participants.
Further more, Running a business, large (or) small, requires managerial skill. Since a small
entrepreneur can`t employ a manager he should be imparted with the requisite managerial
techniques in the Iunctional areas like Iinance, production and marketing. Knowledge oI
managerial skill enables an entrepreneur to run his entreprise smoothly and successIully.
In order to Iamiliarize the participants with real liIe situation in small business, plant visits are
arranged. Such trips helps the participants know more about an entrepreneur behavior
personality, thoughts and aspiration. These inIluence him to behave accordingly to run his
enterprise smoothly and successIully.
LnLrepreneurlal 1ralnlng
LnLrepreneurlal 1ralnlng ls provlded Lhrough enLrepreneurlal developmenL programmes 1he maln
ob[ecLlves of Lus are Lo aLLracL people Lo enLrepreneurlal developmenL programmes Lhrough effecLlve
promoLlon 1o make Lhem avallable buslness opporLunlLles 1o moLlvaLe and sLrengLhen enLrepreneurlal
quallLy 1o develop passlon and lnLeresL ln enLrepreneurshlp 1o make aware of Lhe varlous law
procedures eLc relaLlng Lo Lhe enLrepreneurshlp
The ultimate objective oI entrepreneurship training programme is to make the trainee prepared to
start this own enterprise aIter the completion oI the training programme. This is the measure oI
success levels oI the EDP
The objective oI an entrepreneurial development programme (EDP) may be divided into two
categories short-term objective, and long-term objectives.
Short - Term Objectives:
They imply the objectives, which are to be achieved immediately, aIter the completion oI the
programme. Preparing a person mentally Ior the entrepreneurial venture, making him competent
to scan the environment and situation within the existing regulatory Iramework are the short-
term objectives. In brieI, short-term objectives are to help a participant in the Iixation oI his
goal as an entrepreneurisation.
Long - Term Objectives:
In the long run, an entrepreneurial development programme seeks to equip the participant with
all the skills required Ior the establishment and smooth running oI business ventures. The
ultimate objectives are that the participant under training should establish his own venture.
Having discussed the signiIicant aspects involved in entrepreneurship development
programme,it is pertinent to highlight the objectives oI ETD .
Objectives of Entrepreneurial Training and Development (ETD)
1. To let him set & reset the objectives Ior his business and work individually and along
with his group Ior the realization oI them.
2. To prepare him Ior accepting to totally unIore seen risks oI business Ior a long time aIter
such training & development
3. To enable him to take strategic decision
4. To enable him to build and integrate team equal to the demands oI tomorrow
5. To communicate Iast, clearly & eIIectively
6. To develop a broad vision to see the business as a whole and to integrate his Iunction
with it
. To enable him to relate his product and industry to the total environment; to Iind what is
signiIicant in it and to take it into account in his decision and actions
8. To enable him cope up and co-ordinate the diIIerent types oI paper work, most oI which
is statutorily obligatory
9. To make him subscribe to industrial democracy that is, accepting workers as partners in
enterprise and,
10.To strengthen his passion Ior integrity, honesty and compliance with the law which is the
key to success in the long-run.
11. To let him set & reset the objectives Ior his business and work individually and along with
his group Ior the realization oI them.
12. To prepare him Ior accepting to totally unIoreseen risks oI business Ior a long time aIter
such training & development
13 To enable him to take strategic decision.
14 To enable him to build and integrate team equal to the demands oI tomorrow
15 To communicate Iast, clearly & eIIectively
16To develop a broad vision to see the business as a whole and to integrate his Iunction with it
1.To enable him to relate his product and industry to the total environment; to Iind what is
signiIicant in it and to take it into account in his decision and actions.
CONCLUSION:
From the above disscussion, it is clear that, Entrepreneurial training and development is an
organized and systematic eIIort. It is now regarded as a tool and a solution to unemployment
problem. The signiIicant aspect involved in the entrepreneurial training and development is to
motivate a person Ior entrepreneurial career to make him capable ,perceiving and exploiting
successIul opportunities Iorthe enterprises.