Entrepreneurship is the act of being an entrepreneur, which is a French word meaning "one who

undertakes innovations, finance and business acumen in an effort to transform innovations into
economic goods". This may result in new organizations or may be part of revitalizing mature
organizations in response to a perceived opportunity. The most obvious form of
entrepreneurship is that of starting new businesses (referred as Startup Company); however, in
recent years, the term has been extended to include social and political forms of
entrepreneurial activity. When entrepreneurship is describing activities within a firm or large
organization it is referred to as intra-preneurship and may include corporate venturing, when
large entities spin-off organizations.

 Entrepreneurship is the act of being an entrepreneur, which is a French word meaning "one
who undertakes an endeavor". Entrepreneurs assemble resources including innovations, finance
and business acumen in an effort to transform innovations into economic goods. ...
 An entrepreneur is a person who has possession of a new enterprise, venture or idea and
assumes significant accountability for the inherent risks and the outcome. The term is originally
a loanword from French and was first defined by the Irish economist Richard Cantillon. ...
 the art or science of innovation and risk-taking for profit in business; the quality of being an
entrepreneur.
 entrepreneur - someone who organizes a business venture and assumes the risk for it.
 One special form of human capital that is important in an economic setting is
entrepreneurship (often thought of as the fourth factor of production). Entrepreneurial
abilities are needed to improve what we have and to create newgoods and services. ...
 entrepreneur - a risk taker in the business world. Usually applied to a person who sets up as
a business owner using their own money or an obligation on borrowed money.
 entrepreneur - Individual or group of individuals who take on the risk of starting a venture.
 entrepreneur - A person who engages in the process of entrepreneurship.
 entrepreneur - An innovator of business enterprise who recognizes opportunities to
introduce a new product, a new process or an improved organization, and who raises the
necessary money, assembles the factors for production and organizes an operation to exploit
the opportunity.
 entrepreneur - someone who is willing to assume the responsibility, risk and rewards of
starting and operating a business.
 entrepreneur - A person who is innovative and takes the risk of bringing the other factors
of production together in a business concern to try and profitably satisfy the needs and wants
of a particular segment of a market.
 entrepreneur - An individual who starts his/her own business.
 entrepreneur - A venturer that also carries primary responsibility for operating a venture.
 entrepreneur - French word which translates roughly as "enterpriser." In capitalism, a
speculator who invests capital in stocks, land and machinery, as well as the exploitation of wage
labor, in the pursuit of profits.
 1. An eye for opportunity: Many entrepreneurs start by finding a need and quickly
satisfying it.
2. Independence: Even though most entrepreneurs know how to work within the framework
for the sake of profits, they enjoy being their own boss.
3. An appetite for hard work: Most entrepreneurs start out working long, hard hours with
little pay.
4. Self-confidence: Entrepreneurs must demonstrate extreme self-confidence in order to
cope with all the risks of operating their own business.
5. Discipline: Successful entrepreneurs resist the temptation to do what is unimportant or
the easiest but have the ability to think through to what is the most essential.
6. Judgment: Successful entrepreneurs have the ability to think quickly and make a wise
decision.
7. Ability to accept change: Change occurs frequently when you own your own business, the
entrepreneur thrives on changes and their businesses grow.
8. Make stress work for them: On the roller coaster to business success the entrepreneur
often copes by focusing on the end result and not the process of getting there.
9. Need to achieve: Although they keep an “eye” on profits, this is often secondary to the
drive toward personal success.
10. Focus on profits: Successful entrepreneurs always have the profit margin in sight and
know that their business success is measured by profits. Is this your profile or would you
rather do your job, pick up your paycheck and leave the headaches to someone else? Most
of us, quite easily, choose the later.

The characteristics of entrepreneurship can be recognized as

• CREATIVE ACTIVITY i.e it involves innovation of products and techniques by keeping in

mind the market;
• DYNAMIC PROCESS i.e. keeps in mind changing external environment;
• PURPOSEFUL ACTIVITY i.e. purposed to earn profits or bring a difference to the
market ;
• INVOLVES RISK i.e entrepreneurial decisions are vast and can not be reverted easily
and involve great deal of investments.

Characteristics of an entrepreneur include

• ability to bear risk,

• technical knowledge about production techniques and marketing,
• ability to gather financial and motivational resources
• ability to build a sound organization.
Creative - An entrepreneur needs to be creative and innovative. His/her ability to create
something new, or to modify something old into something useful will be very crucial in the world
of entrepreneurship. The main point here is, be creative to provide value to the customer.

Good leader - A successful entrepreneur needs to be a good leader. He/she needs to know how
to handle the staff as well as the business/products. A good employment policy to retain the
company’s best people might be the entrepreneur’s only advantage over his/her competitors.

Good communicator – The ability to deliver the right idea across in a right way is always an
important skill to have, not only to an entrepreneur but to other people as well. Being a good
communicator will help the entrepreneur in sales/marketing, promoting teamwork, effective
discussion with the staff, etc.

Balanced life – Being an entrepreneur means leading a very busy life. You will most probably be
very occupied with your business, your employees, your customers, etc….but you should never
ever abandon your personal life – your family and friends. Your family and friends will always be
there to support you when your business is not in a good condition. Therefore, don’t turn away
from them….neither should you turn away from your business. Strike a balance.

Hardworking - Hardworking is the next attribute an entrepreneur should have. An entrepreneur

needs to work hard to improve himself/herself constantly, to come out with new ideas, to try
many different things, etc.

Persistent - Persistent is the next nature of a successful entrepreneur. An entrepreneur should

always have the “never-say-die” attitude.

1. Willingness to take risks. Being an entrepreneur is demanding. Everything is a risk to

someone who only depends upon themselves. Entrepreneurs learn to take calculated risks. They
can't throw complete caution to the wind, but they are much more willing to take a risk which
seems within reason.

2. Ability to identify good business ideas. For an entrepreneur one of the greatest abilities is
that of identifying a good business idea. If a person sees a good business idea, even if it is
already being done, just recognizing the idea validates the entrepreneur.

3. Determination and confidence. When every penny spent on an endeavor belongs to you, you
must believe in yourself. You can't half believe in an idea, you must be determined and
confident.

4. Single-mindedness. An entrepreneur must be focused. An entrepreneur must be able to shut

out distractions. Sometimes the must pretend they are wearing blinders.
5. Willingness to put out whatever effort is needed. When you only have yourself to depend on, you have
to be willing to put forth whatever effort is required to achieve success.