Entrepreneur
“An Entrepreneur tends to bite off a little more than he can chew hoping that he’ll quickly learn how to chew it” - Roy Ash. Entrepreneurs are people who exercise initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced. What does it take to be an entrepreneur? What are the risks, and what are the rewards?
Entrepreneur’s can be described in words such as passion, perseverance, values, empathy, skills, hard work, creativity, humility, vision and commitment. An entrepreneur needs passion to continue with their idea even when things get tough, since if they are not passionate about something then they will give it up when things start to get hard. Perseverance, when the going gets tough the tough gets going well others will just walk away. Values are needed to form a steady foundation for the ideas and company to grow off of. All of these words describe the characteristics of an entrepreneur, because no matter how hard things get if they have these characteristics then they will keep trying until they succeed.
There are many risks and negatives that come with being an entrepreneur. Risks can be but are not limited to administration, competition, loneliness, paycheck, and work schedule. Even though an entrepreneur makes all of the decisions from the employees that are hired and fired to the direction that the company goes. There will always be someone trying to do better than someone else, so they must always stay on their toes and try to stay ahead of the competition. Another issue can be the loneliness that they face such as a potential separation from friends and family, and also the success or failure of the company riding on their back. A challenge entrepreneurs also face is that they may not always receive a paycheck, how much they make depends on how well business goes if business is doing very well, then the paycheck will be solid and then if it is doing poorly the paycheck will be less or potentially none. Lastly the work schedule can be grueling if something needs done and no one else is there to do it then the entrepreneur will have to do it. Above are several risks or negatives of becoming an entrepreneur, even though there are a lot of risks and negatives there are also a lot of positives and rewards.
Well there are many risks and negatives there are also a lot of positives and rewards that come with being an entrepreneur. Some positives would be control, excitement, flexibility, freedom, and rational salary. An entrepreneur sees working for themselves and control as it is better to work 80 hours for themselves instead of working 40 hours for someone else. There is never a dull moment and that excitement is what draws them to be an entrepreneur. Their schedules are determined by themselves and they can work as little or as much as they want. Entrepreneurs work for themselves and they can have as much freedom as they want to make their choices. By being an entrepreneur they can make an unlimited amount of money, they have no base salary and no maximum amount of money that they can make.
There are many risks but so many rewards that an entrepreneur can encounter, but they must be able to stand strong in the face of challenges. I am drawn to be an entrepreneur by all of these rewards, but also by all of these challenges. I believe that anything worth having is worth working hard for. With this way of thinking I eventually want to put everything on the line to make my dreams a success. As Farhan Masood said “The things you regret most in your life are the risks you didn’t take.”
Signing out!
~ Liz
Resources
Apfelbaum, Joe. “10 Words That Describe an Entrpreneur.” Linkedin.com, Linkedin, 1 Dec. 2014, www.linkedin.com/pulse/20141201164151-6350172-10-words-that-describe-an-entrepreneur
Britt, Darice. “Pros and Cons of Being an Entrpreneur.” Pros and Cons of Being an Entrepreneur, South University, 2017,
source.southuniversity.edu/pros-and-cons-of-being-an-entrepreneur-96101.aspx.
“Do You Know This Term?” BusinessDictionary.com, Business Dictionary, www.businessdictionary.com/definition/entrepreneur.html.
Very interesting topic. Many people know that an Entrepreneur creates their own business but that is as much as they know. You did a very good job explaining more in depth what it is that an entrepreneur does and what it takes to become one. You seem to have a good sense of the reward and risk as well, are you planning on opening up a business of your own one day?
ReplyDeleteThank you for your response! Yes, I eventually want to be an entrepreneur and run my own business. I am currently going into business management and I hope that someday I can run my own company, but I want to start by climbing the corporate ladder to gain some experience before I branch out on my own.
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