what does entrepreneur mean
We have talked a lot about entrepreneurship, but do we knowwhat does entrepreneur mean? In Hispanic Entrepreneurs We will try to make you very clear about this key concept for the success of your business ideas.
Entrepreneurship goes beyond starting a business, this activity involves risks and many difficulties to get where you want. Statistics indicate that between 80 and 90% of businesses fail in the first year.
But do not be alarmed, there are many institutions that provide advice and financing to this line. The important thing is that you know what it is about and define if you meet the main characteristics to continue advancing.
what does entrepreneur mean
In simple words, an entrepreneur is the person who starts his own business project by identifying a business opportunity in his environment. Provides innovative solutions that others have not known or been able to address successfully. This assumes the financial risks to develop it with the goal of obtaining benefits.
Usually, the entrepreneur is in charge of directing and organizing the company from its origin to its start-up. He studies and analyzes the market to know the attitude and preference of the public. At the same time, it gathers the economic, technological and human resources to start the plan to which it adds innovation and originality. All by their own means.
He wants to develop sustainable and lucrative business initiatives, in conclusion, he is the one who has a dream and works to achieve it.
There are several types of entrepreneur, the main ones are:
1-Visionary: It is the one that anticipates trends by using, for example, a technology that has a limited scope for now. But he knows that this resource must be implemented progressively.
2-Opportunist: Work to discover an unmet need to attack the market niche.
3-Social: Its main objective is to help society, to have a positive impact beyond the profits it can generate. Your intention is that your product or service helps save the planet. To correct an injustice or to help the population become aware of a risk.
4-by accident: Arrives by chance at the enterprise. He gets involved through acquaintances or relatives in this without looking for it.
5-Investor: It is limited to providing the money for the business idea to start.
6-Persuasive: It does not generate the business idea, but influences people to support it.
7-Specialist: It focuses on a specific area to develop the business in a small but highly profitable niche.
8-Corporate or business: They are the ones who start an innovative company using their passion and knowledge like startups.
9-Digital: They rely 100% on the use of the Internet and new communication technologies to offer different services. They emphasize the new possibilities of such technology. Blogs and the sale of infroproducts are examples of this.
We have as an example of famous entrepreneurs who have emerged developing an idea Bill Gates with Microsoft, Elon Musk with Tesla and Steve Jobs with Apple. Their personal commitment and business vision led them to success and they are role models.
Characteristics of entrepreneurs
¿How to know if you are an entrepreneur? Well, the successful entrepreneur is characterized by being independent because he generally risks having his own business because he does not want to receive orders. Has an autonomous character and prefers to be the leader of projects. He works well in a team as long as he is the one holding the reins.
Therefore, he also stands out for taking the initiative, sees beyond ideas and is willing to take smart risks. He seeks to have a different vision of the challenges that arise along the way.
His idea is to propose something different from what is on the market and provide great solutions with simple tools.. Entrepreneurs are creative people who spend their time pursuing new goals and learning more and more about the industry they work in.
He is passionate about his brand and believes in what he does, these are factors that make him achieve his goal, even if the road is not easy. Also, his persistence helps him not to give up and be negative, because entrepreneurs often fail on their first attempts.
This leads him to analyze his mistakes and start again, that is, he handles failure differently than a traditional entrepreneur. He adapts and makes changes on the fly to improve results. He plans and outlines the strategy day by day to reach the final goal. His confidence in himself and in the business transmits it to his work group to achieve the objectives.
It is also differentiated by its ingenuity, because it does the best with the resources at hand.On top of that, create networks that help enlarge your resource limit. It is even able to focus on what is most important based on the context and objectives. Saving or setting aside other good ideas that do not help solve the specific need.
The entrepreneur is good at Networking and Teambuilding, that is, he weaves external networks to communicate and socialize and internal ones to consolidate his work team. He has the ability to surround himself with people who go in the same direction as him, who share his vision and help him refine his knowledge.
Besides, he is brave because he goes out of his comfort zone to take risks. At the same time, he has commercial skills and negotiation skills to make sales.
Entrepreneurship Characteristics
Entrepreneurship creates jobs, the ambition of entrepreneurs to grow their business guarantees more jobs for workers. They favor change, because their ideas are designed to create an impact that improves the future.
At the same time they help society by paying taxes and making donations. They are some of those who most help the progress of the communities with their contribution.
While the ventures High-impact programs are developed by a multidisciplinary team that makes it easier for them to achieve their goals. They are born from the union of several entrepreneurs who share a passion.
They have the ability to solve a problem effectively and simply, making life easier for the consumer. They take advantage of the technology at their disposal to reduce costs and increase profits. Similarly, to avoid geographical barriers and reach new markets with a global presence.
This leads them to be profitable and apply sustainable environmental policies, attending to the concerns of customers. They have the ability to grow and target markets that are trending towards development. In the same way, they do not stop innovating and adding value to their products or services.
Nowadays, more people want to start a business because they have the goal of changing something on the planet, but mainly because they aspire not to have bosses. They think that there are other effective ways of doing things and seek to succeed in their own way. They need flexible hours to combine their studies or family life with work.
They want to take calculated risks, although starting a business is always an adventure. There is also the factor of the high unemployment rate, for some the difficulty of finding a stable job or low wages leads them to try on their own. Another reason is that you don't fit into the corporate environment, you don't tolerate your workplace politics or your role.
Equally, your curiosity and ambition are combined. In entrepreneurship they will find possibilities to grow and answer the questions that are asked.