Have you got what it takes to be an entrepreneur?

By Kevin Golder of HR Solutions

Entrepreneur

“A person who undertakes an enterprise esp.  a commercial one, often at personal financial risk; the managing proprietor of a firm who supplies the capital, bears the risks of production and is the controller of day-to-day management and marketing; a contractor or employer; an organiser of musical or other entertainments.”

Source: The Chambers Dictionary

“Any attempt at new business or new venture creation, such as self-employment, a new business organisation, or the expansion of an existing business, by an individual, a team of individuals, or an established business.”

Source: The Global Entrepreneurship Monitor

Regardless of which definition you prefer, and there are many others around, the emphasis always includes directly or indirectly the words risk and money. 

Entrepreneurs contribute to the economic well-being of a country both in terms of economic growth and job creation.  Traditionally, entrepreneurial ability tended to focus on the following four attributes:

• Initiative – in bringing together the resources to create a profitable business.
• Decision-making – policy decision-making that gives direction.
• Innovation – introducing new products and new ways of doing things.
• Risk-taker – his or hertime, effort, business reputation and invested funds in the entrepreneurial venture.