Sunday, May 24, 2009
Although the prospect of having your own business seems to be cool and great but the fact is it is never that easy. Being an entrepreneur involves hard work and dedication. When you loan money for your business you need t ensure that there loans are repaid on time so that you can loan again if you need it.
An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. It is an ambitious leader who combines land, labor, and capital to create and market new goods or services. The term is a loanword from French and was first defined by the Irish economist Richard Cantillon. Entrepreneur in English is a term applied to the type of personality who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome. Jean-Baptiste Say, a french economist, believed to be coined the word Entrepreneur first in about at 1800. He said an entrepreneur is "one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labour".
Entrepreneurship is often difficult and tricky, resulting in many new ventures failing. The word entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service, by carving out a niche in the market that may not exist currently. Entrepreneurs tend to identify a market opportunity and exploit it by organizing their resources effectively to accomplish an outcome that changes existing interactions within a given sector.
Observers see them as being willing to accept a high level of personal, professional or financial risk to pursue opportunity.
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