A guest post by Jared Morrison.
The term entrepreneur refers to an individual who takes risk in order to exercise an idea or venture that he himself is the architect of. It is important that we do not confuse regular businessmen with entrepreneurs. Entrepreneurs try to incite change, whereas traditional businessmen work with the motive of earning a profit.
Entrepreneurial ventures, of course, also earn profits for their creators but the underlining difference between them and traditional business concepts is that entrepreneurial ventures are not started solely with the intention of earning a profit.
Entrepreneurs, as mentioned earlier, strive for change. They have an idea and they would do all it takes to put that idea into action. They are high risk takers – not caring about the hazardous consequences they might face if their plans fail.
Like leaders, some people are born to be entrepreneurs. Others can learn how to be one with the proper training. However, it is important to understand that despite the training, one can only be a successful entrepreneur if he has that innate flair.
Like every other project that one might choose to start, entrepreneurs also require the right set of skills to be successful. The fact that makes them stand out is that they are very passionate about their business. A businessman may be interested in his business as long as it earns him a fair bit of profit but it he may not necessarily love his job. An entrepreneur, however, would treat his venture as his baby. He would love everything about it, regardless of its profitability, because he has fathered the very idea of its existence.
Other than the passion that needs to be possessed by every entrepreneur, there are a number of skills that determine the success of every entrepreneur. The first, of course, is self confidence. Unless a person is extremely stupid he would never invest in an idea he is not confident about. Entrepreneurs are extremely confident about themselves and of course, their ideas. Moreover, they require extremely good team management and leadership skills. These skills become essential when the venture requires human resources to operate. Human resource is, of course, required by all ventures but not all entrepreneurs can invest largely in human capital when they decide to first implement the idea. They are visionary people and do not cares about short term gains as long as they are on track with the long term targets they have set for themselves.
Remember, these are the skills that you need to work on if you plan to be an entrepreneur one day. However, the list of skills required is not limited to these only. Entrepreneurs have to be creative and be good planners because they, themselves, know exactly what their venture is all about and where they want to see it in the future.
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