What is an Entrepreneur?

What is an entrepreneur - Fooxz

An entrepreneur is a person who creates a product or service that no one has ever thought about before. Starting an old business or starting a new one is sometimes considered a business venture but in fact, a new product or service is basically an enterprise.

In this case, the entrepreneur has to think about how to start the business, how to run it and what the future plans are. To be an entrepreneur you have to think a little differently from ordinary people.

Read more: What are the characteristics of a successful entrepreneur?

Need to think outside the box. Many more traits exist in an entrepreneur that sets him a little different from the common man.

However, in this article, we will answer all the questions including what is an entrepreneur, what are the characteristics you need to be an entrepreneur and why be an entrepreneur. If you want to be a successful entrepreneur, it is very important for you to know these things first. So let’s start the discussion without delay.

What is an entrepreneur?

The entrepreneur has got a small idea about this so far. Now there will be a detailed discussion on this issue. There are many of us who think that entrepreneurship means business. There is no difference.

In fact, the matter is completely different. There are many differences between a businessman and an entrepreneur. A merchant sells a product or service. But an entrepreneur invents that product or service. In this case, all entrepreneurs are businessmen but not all businessmen are entrepreneurs.

A businessman becomes an entrepreneur only if the product he is selling is invented by himself.

What features should entrepreneurs have

As an entrepreneur, you must have some special qualities that may not be found in the other 10 people. So let’s find out what qualities you should have as a successful entrepreneur.

Fancy ideas

This is the main difference between a businessman and an entrepreneur. We have already said that a businessman deals with an old product or service that someone has invented before that seems profitable to him. But in this case, an entrepreneur is the guide of the businessmen who are basically inventing these products, services or ideas.

Taking risks

Entrepreneurs do not want to take much risk. Again, the risk is much less than the entrepreneurs in their work. It takes a lot of time and money to bring a new product or service to market. In this case, a lot more uncertainty works.

But in the case of old products, services or ideas, things are completely different. If you want, you can measure your risk and reduce the amount.

The purpose of the work

The purpose of working as a businessman is basically to make a profit. But the purpose of the entrepreneur is to surprise the world by bringing something new to the market and to make people’s life easier. In this case, they do not think much about profit or financial gain.

Use of time

Traders are very conscious of time. They usually do not want to waste a single second. Try to do everything fast. But entrepreneurs don’t see it that way. They must also value time. They do time management with utmost awareness. They believe they are working with the industry and are willing to spend a long time here.

How do you see the world?

Entrepreneurs usually see the world as an opportunity from which they want to meet their life needs very well. But an entrepreneur usually comes to show the world. In their endeavours, people and people’s lives are getting better and better.

The definition of success

The definition of success is actually different for different people. The success of a business comes when it is able to sell a targeted amount of its product or service.

But the success of an entrepreneur actually lies in making people’s lives easier by inventing something new.

Why be an entrepreneur?

If you can answer this question, maybe thousands of words will be written. If a country like Bangladesh has to move forward, then there is no alternative to being an entrepreneur.

In the old days, if Samson H Chowdhury had not started a pharmaceutical company with a small amount of money, there would not be an organization like Square in the country today.

There are thousands of other examples of people around the world who have changed the world through their actions. At the age of thirteen, the naughty boy, who went out in search of a livelihood with only 18 rupees, wanted to become an entrepreneur, after a while, the government banned him from selling land. Yes, you are right, I am talking about Sheikh Akij Uddin, the founder of Akij Group.

These organizations would not have come if they had not dared to become entrepreneurs. So if you want to give something to the country or the world like these people, being an entrepreneur will be the easiest way for you.

Ways to be an entrepreneur?

Honestly, we don’t know any checklist that you can follow to become the future entrepreneur of Bangladesh. But yes, there are some things that you must have in mind as a future entrepreneur. At least it can be said that you can’t become an entrepreneur without working hard.

You have to work hard and use your talent and intellect. Only then can you become a successful entrepreneur.

Qualities of a successful entrepreneur

By now I hope you understand why it is important for you to be an entrepreneur. The idea of being an entrepreneur is actually given to a person’s inner self. It can’t happen if anyone wants it.

It’s not like your family wants you to be an entrepreneur anymore. No matter what ancestral property you have, you can be a businessman if you want. But you can’t be an entrepreneur if you want to.

However, there are some qualities that are usually found by reviewing the biographies of all successful entrepreneurs. Let’s take a look at some of the qualities you have that would make you an entrepreneur:

Risk-taking mentality

Not everyone has the ability to take risks. That’s why everyone can’t be an entrepreneur if they want to. Traders also take risks; But not so much. They usually measure the risk first and then try to minimize it as much as possible. Then they started a business.

But in the case of an entrepreneur, there is no opportunity to increase or measure risk reduction. You can’t even want to because your idea is completely new. So if you don’t have a problem with taking too much risk, then you have the potential to be an entrepreneur.

Ability to lead

To be an entrepreneur, you must have the ability to lead. Hundreds of people can work in your organization when you become a successful entrepreneur. In that case, you have to have leadership skills to handle them all alone.

This is also a given quality inside a superhuman because one thing you will notice is that not everyone can be a leader. Leaders are but very few people.

Competitive attitude

You must have a competitive attitude so that you can compete with everyone and go ahead and give the best products or services to society, the country and the world.

Decision-making power

When you run an organization, you have to make all the big and small decisions yourself. The success of your venture will depend on your right decision.

No cooperation can be expected in this case. The better you decide, the better your organization will be.

Intelligence

To be an entrepreneur, you don’t just have to have business knowledge. You just have to be more discriminating with the help you render toward other people. You can’t tell in advance when any knowledge will come in handy.

Flexibility

The quality of the most intelligent and mentally strong people who can adapt to any situation. This quality is basically called flexibility. If you want to be a successful entrepreneur, you must have the ability to adapt to all situations.

When a situation comes in front of you, no one knows. If the right decision cannot be made by adapting oneself to that situation, then it is not desirable to expect success.

Communication skills

Communication skills are a very important quality for a successful entrepreneur. Because in order to sell your product or service to the customer, you must be very good in sales.

If you don’t know how to communicate with people, how will your initiative reach people? Much of business success actually depends on this quality.

Ability to adjust

When you are the head of a place you may have to coordinate the work of many departments. There may also be a need for coordination among co-workers, employees, etc.

So this quality must take some time if you want to be an entrepreneur. There are many such organizations where success does not come only from a lack of coordination.

Discretion

Those who can make the right decisions at the right time are the most successful in life. Long ago, when Dhaka city was basically a village, Zahirul Islam somehow realized that one day the price of land in Dhaka city would increase a lot. So he bought a lot of land in different parts of Dhaka, which has now been converted into gold.

The secret to success is entrepreneurship

After all, I don’t know why the article didn’t seem complete without this thing. Among the characteristics of being an entrepreneur, it was said that entrepreneurs have to work hard.

But most people in our country do not want to agree with this. We are always looking for a shortcut system to do each task. The reason for looking for shortcut systems is not that we want to save time. Rather, we want to know how to become rich in a short period of time.

Honestly, there is no secret to being an entrepreneur. Everything is told to us in this article. All you have to do now is implement it. And if you can’t do that, then it’s very sad to say that entrepreneurial life isn’t really for you.

Conclusion

This was basically a discussion on entrepreneurship. I hope you have found the answers to all your questions here. If you have the qualities discussed here then you should definitely try to be an entrepreneur. Thanks.


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