What Is The Role Of An Entrepreneur In A Business?

If you’re planning to one day start your own business or you’re currently the brains behind a running business, then it’s important that you get to know what the role of an entrepreneur in a business is, so that you can be in a position to better perform as the man/woman who’s in charge.

To help you achieve this, we’ll today be looking at what is the role of an entrepreneur in a business.

What Is The Role Of An Entrepreneur In A Business? #1: To Be The Prime Mover In A Business

It is every entrepreneur’s role to be the leader in terms of seeking new forms of innovation and other forms of development that will help take the business to higher heights e.g. you can seek new and effective techniques (such as Social Media Marketing) that will help to better spread your brand.

Business has only two functions; marketing and innovation-Milan Kundera

What Is The Role Of An Entrepreneur In A Business? #2: To Provide Finances

It’s an entrepreneur’s job to ensure that his/her business never lacks finances which could lead to the business stagnating or worse collapsing. The three major forms of finances include:

1. Fixed Capital-For financing the assets
2. Working Capital-For day to day expenses
3. Growth Capital-For the expansion of your business

Stay on top of your finances. Don’t leave that up to others-Leif Garrett

What Is The Role Of An Entrepreneur In A Business? #3: To Manage The Business

Because entrepreneurs are the architects behind businesses, the responsibility of making sure that a business runs smoothly rests squarely on their shoulders.

Care should however be taken not to run a business as though it were an army barrack, with you as its commander (unless you’d like to have a hostile working environment)

Effective leadership is putting first things first. Effective management is discipline, carrying it out-

Stephen Covey 

What Is The Role Of An Entrepreneur In A Business? #4: To Be A Risk Taker

It’s every entrepreneur’s job to take calculated risks in order to ensure their business grows. 

Even though not all the risks taken will result in profit making, it’s the entrepreneur’s job to “man up” and take responsibility for any losses that may occur, but more important to learn from them.

You don’t concentrate on risks. You concentrate on results. No risk is too great to prevent the necessary job from getting done-Chuck Yeager 

What Is The Role Of An Entrepreneur In A Business? #5: To Bring Out The Best In Others

There’s a quote that I came across a couple of year ago and it went something like “An army of sheep led by a lion can defeat an army of lions led by a sheep”.

I therefore tend to think that if an entrepreneur is strong willed, resilient and willing to bring out the best in others, then he/she can lead his employees and company at large to higher levels of success, irrespective of how the competition looks like.

When we seek to discover the best in others, we somehow bring out the best in ourselves-William Arthur Ward 

Last Word On What Is The Role Of An Entrepreneur In A Business

It’s not governments nor NGOs that create jobs which drive the economies of the world but entrepreneurs who in their individual ingenuity set up businesses that are the backbones of these economies.

It’s my hope that you’re now in a better position to spearhead your business having looked at what is the role of an entrepreneur in a business.

We could go on and on looking at what is the role of an entrepreneur in a business, but I feel the above 5 are the major ones.

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