Who an Entrepreneur Is - Free Paper Sample

The purpose of this study is to define clearly who an entrepreneur is. To understand the mindset of an entrepreneur. What he/she visions that others don’t.

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Entrepreneurship is mostly about creating something from nothing. Creating something from nothing requires boldness. So, we can talk of an entrepreneur being a risk-taker. More of a traveler with no specific destination. An entrepreneur creates and innovates by accepting risks and failures (Intrama et al., 2017). Entrepreneurship can also be said to be the creation of a new process or method. Creativity is the basic requirement for an entrepreneur.

We do not always record everything that happens in our daily routines. Many things happen in our daily lives that go unnoticed. It is the same reason we make decisions at times and revoke them later. We make plans and later overturn them. So many deals happen day today in our lives that are not documented.

There are those things that we observe and others that go unnoticed especially when we are in a hurry. There are those products and services that we use and don't use. This is because behavior tends to be purpose-driven. Our perceptions guide our thoughts. There are those products and services that we think we need but actually, we don't need them and there are others that we don't usually perceive but we need them.

Some of the products that we usually use in our daily routines are mainly basic needs. They include;

• Clothing. A very crucial need that we need to survive and to protect our bodies from harsh weather conditions. During rainy seasons we wear heavy clothing. On hot seasons we put on lighter clothing. It’s the reason during rainy seasons that more umbrellas and gumboots are seen in the market places. A risk-taker would put all their efforts, energy, and money during such seasons. That’s why clothes are sold everywhere in the world. Since people need to cover themselves
• Food. Another basic need that we use every day and we can’t survive without. We depend on food for existence and nourishing our bodies. It is a necessity for one's survival. Food joints, hotels, and restaurants are found in every corner of the world.
• Shelter. We need to protect ourselves from danger and bad weather. Not having a place to call home would be a threatening thing. A big percentage of the world is covered by buildings. It’s a trend to invest in housing projects nowadays.
• Vehicles. Transport has become more of a basic need. People need to travel, run errands, do business, luxury, etc. for the same purpose you find people have sought to venture into the vehicle business. The influx of new car companies is a good indicator.
• Digital cameras. Some of these gadgets are found in certain shops and you can easily tell that they have been in store for a long period. With the era of smartphones, no one would need a digital camera. Investing in such a venture as an entrepreneur would be a miscalculated risk.
• Newspapers and magazines. This service has been rendered useless with the invention of smartphones. Websites post readily available newspaper content. One can subscribe to newspaper content rather than having to stock a pile of magazines in the house. Anyone in his/her right mind would not waste his/her time/money and efforts in investing in such a venture.
• House Decorations. Gone are the day's people used to buy flowers and flower vessels for decorations. People have sought creative ways to paint decorations. Taking risks in such a business would not be worthy.
• Disposable Razors. Several companies have come up with replacement blades. Customers would prefer such innovation rather than depending on disposable razors which would be costly.
• DVDs and CDs. With this era of the internet and advancements in technology, one would seek to stream content rather than waste money and time going for DVDs and CDs.
• USB Flash Drives. One would rely on emails rather than pocked-sized storage. Technology advancements have made it easier for people to rely on network storage e.g. cloud computing.

Entrepreneurship is mainly thought of as starting a business. It is more than that; it encloses creating something from nothing. Starting from scratch. This means one has to be creative, innovative, risk-taker, and opportunity focused. Entrepreneurship is the mindset of an individual (Allen, 2015). Entrepreneurs are people and people have dreams, hopes, and think and plan for the future. Entrepreneurship is about taking into consideration people's needs and this inspires the motivation to start up a venture. Anyone starting a business understands clearly that it is mainly about people. Entrepreneurs play a role in influencing the economic growth of a country. Innovative entrepreneurship is considered a pillar for the economic development of any country (Block, Fisch & Van, 2017). The benefits accrued from innovative ventures has made policymakers draft measures to protect the entrepreneurs and opening more space for them to venture

Businesses vary to cater to various human needs. Just as the businesses they set up vary, Entrepreneurs to differ depending on the motivation that inspired them to become entrepreneurs. Craft entrepreneurs are those entrepreneurs who start from scratch and mainly are found at home or roadsides. Tailors, cobblers, consultants, and freelancers are some of the craft entrepreneurs. Nonprofit entrepreneurs are those that offer services to people free. They in return attract favors from donors and well-wishers. Some of them end up terminating their services due to a lack of donor funding or token of appreciation from well-wishers.

The journey of becoming an entrepreneur is not an easy one. It requires monumental and tireless efforts. The risk involved should not be taken for granted. One ought to be prepared to face demanding challenges (McMullan & Kenworthy, 2015). A focused entrepreneur is one who will survey the market niche i.e. what suits his/her motivation, seek ideas, connect with people, and calculate the risk of his/her venture.

References

Allen, K. R. (2015). Launching new ventures: An entrepreneurial approach. Nelson Education.

Block, J. H., Fisch, C. O., & Van Praag, M. (2017). The Schumpeterian entrepreneur: A review of the empirical evidence on the antecedents, behavior and consequences of innovative entrepreneurship. Industry and Innovation, 24(1), 61-95. https://www.tandfonline.com/doi/abs/10.1080/13662716.2016.1216397

Intrama, V., Sookbanjung, S., Santawee, K., & Teerasawad, P. (2017). Path of creativity in entrepreneur: Basic concept of creative economy development. In Advances in human factors, business management, training and education (pp. 263-272). Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-319-42070-7_25

McMullan, W. E., & Kenworthy, T. P. (2015). Modernizing Schumpeter: Toward a New General Theory of Entrepreneurship. In Creativity and Entrepreneurial Performance (pp. 57-72). Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-319-04726-3_5