What Does It Take To Be An Entrepreneur?

There have been a lot of confusion and complication on who is an entrepreneur, some take an entrepreneur to be a business owner(employer) that is those who employ other labor. Those that define entrepreneur this way are not wrong, only that they fail to understand that an employee can also be an entrepreneur. Don't be surprised by this statement, why not get a comfortable position as you read further.
Before i go into details to explain who is an entrepreneur and how a lot of people have been mislead, because they have little information on who an entrepreneur is. It should be noted that all entrepreneurs are managers, but not all managers are entrepreneurs. This might be confusing but the statement is correct.
A manager is charged with the responsibility of planning, organising, coordinating, staffing and controlling the affairs of the organization towards making profit. An entrepreneur on the other hand does more than that, in term of turning weakness and threat into strength and opportunity respectively.

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The term entrepreneur is a french word derived from the verb entreprende which means to do or undertake. It can be divided into two words which are entre meaning between and preneur meaning taker putting this two words together then entrepreneur means "between taker" or "go beween".

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Though there are diverse way by which entrepreneur have been defined, but the core element that should not be missing are, innovation, risk, opportunity recognition, resources usage, ability to add value and action applied to carry out plans.

Now that you have some insight on this special features let now define entrepreneur.

An entrepreneur is defined as a creative thinker, with a positive mindset, who is able to make proper use of any available resources, channel them into realistic risk and lastly turning the organization weakness into strength so as to make it possible towards making effective and efficient profit.

What i mean by realistic risk is that entrepreneurs don't just invest into any business venture (offer or risk) but on risk risk that they are able to makeup for. Any risk an entrepreneur endeavors to carry out should not drive them towards bankruptcy. This is why an entrepreneur will always be different from a gambler, as a gambler can risk all his available resources with future anticipation towards making profit.

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The things expected from an entrepreneur are as follows

i. Team collaboration: All entrepreneurs are expected to work as a team instead of been a perfectionist. A perfectionist can't be an entrepreneur because because entrepreneur always work based on people feedback and not just what he/she think is perfect for that situation. Working based on feedback is where research and survey come into practice.

ii.Creativity: this is one of the most essential parts expected of an entrepreneur. The entrepreneur is not only expected to carryout an assignment, but to come up with a much more better ways in carrying them out.

iii. Flexibility: the more flexible an entrepreneur is, the more it will be easier to adjust to any difficult situation. The level of efficiency and effectiveness is determined by the entrepreneur flexible behavior as it will make it much more easier to reshaped based on both external and internal forces that may want to limit their performance.

iv.Value Creation: this is also one of the essential part of been an entrepreneur, if what you are creating is not valuable, you might end running at loss after wasting so much time and effort.

V. Discipline: an entrepreneur is expected to be well discipline not only towards subordinate but also him/herself so as to be focused towards achieving goals and objectives in other to achieve efficient result.

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At this point the question you will need to ask yourself are, how has your life been as an entrepreneur, what are the skills you have developed or learnt as an entrepreneur, are you growing or you are stagnant?
Before you start answering those questions, let me explain in summary the five types of entrepreneur.

1.The personal achiever: this type of entrepreneurs will always strive to be the best regardless of any circumstances and hindrances he/she encounter. This type of entrepreneur are drive by goals and are always willing to be the best. They pay attention to feedback so as to reshape their goal towards achieving desired result.

2.Super sales person: this type of entrepreneur belief more on social relation, as they put more effort on social tactics towards achieving an efficient and effective results. They mostly engage other people to manage part of their business.

3.Real manager: This type of entrepreneur likes to be in charge of every activities. They are known as a special entrepreneur or corporate manager.

4.The expert idea generator: these are entrepreneurs that focus more on generating idea that should supersede the current ones. They are known for their level of intelligence. They take minimum risk, as they believe their newly introduced product or idea will perform more than the previously one.

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As an entrepreneur there are few things you need to be aware of, so as to be a successful entrepreneur. The question you may want to ask is "what are this things?". They are nothing more than the over looked asset and liabilities. A lot of people mistake liabilities as asset at times.

When you ask some people about their asset they might end up saying, cars, houses, ships, and other things they spend their fund on frequently so as to maintain it. It should be noted that any valuable asset that cannot generate more asset but rather consume available asset should not be regarded as an asset but a liability.

All successful entrepreneurs will always invest more on assets that can generate more assets, as this is one of basic for profit, growth and expansion.

^{image credit @mayowadavid - The diagram above is use to show, how profit can be made by investing more on asset that can generate more asset}

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Every blog on steemit should be regarded as an asset, except the dormant ones. A blog on steemit is an asset not because it can be use to store fund, but because it can be used to reproduce and generate more fund. The activities perform by the user on each blog will determine the value of each asset.

Now that you aware that a blog on steemit is an asset, below are some of the functions you might need to exercise as an independent and dependent entrepreneur on steemit.

A. Always search and discover new information.

B. Learn to translate information generated into usable form.

C. Be flexible while adjusting to new situation and development.

D. Always create valuable content.

E. Be versatile that is been able to work outside demand.

Having gotten to this point, it is high time i will say you need to challenge yourself with new tasks towards growth and development. So as to be a successful entrepreneur.

Conclusion

I have discussed who an entrepreneur is, types of entrepreneur and functions of an entrepreneur. I have also been able to discuss in summary the things expected from an entrepreneur.

Thank you for reading have a wonderful time on steemit, i will like to appreciate @velimir for the opportunity he gave me to make this article possible.

Image Source

[Reference - characteristics of successful entrepreneur]

Authored by @mayowadavid