Entrepreneurs are all around us. They are one of the very important pillars of society. Without entrepreneurs, society as we know it may collapse and fall into anarchy. So that begs the question, who is an entrepreneur?
Who is an entrepreneur?
An entrepreneur is a person, who sets up a business or businesses, taking on financial risks in the hoping of gaining profit. This refers to everyone who runs any type of (for profit) business, no matter the scale. In very simple terms, an entrepreneur is a business owner.
This means that the woman who is hawking her wares around on the street looking for buyers is by definition, an entrepreneur. A taxi or tricycle driver, a private school owner, and a shop owner are all entrepreneurs. If you buy goods and other items for resale, both online and offline, you are an entrepreneur.
The concept of entrepreneurship may seem vague as an academic concept. However, it is actually very present amongst all of us. Despite the fact that many of us own businesses, the idea of being an entrepreneur tends to fly over our heads.
As an entrepreneur, you are very important to the overall function of society. This is because you create more than just business. You provide good and services that a lot of people cannot do without, you create and sustain jobs and give livelihoods to other people, you help to drive commerce and the economy in your way etc.
While it can be really rewarding being an entrepreneur, it is not always plain sailing all the way. This is because starting and running any business carries a certain amount of risk. This risk is unfortunately borne by the entrepreneur and sometimes these risks can be really heavy. Sometimes whole businesses can go under and the capital could be lost.
These usually weigh heavily on the mind of entrepreneurs and it can be detrimental to their mental health. In the next post, we are going to be exploring the entrepreneurial mindset and how it makes entrepreneurs who they are.
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