Who Is An Entrepreneur And What Is Entrepreneurship?

Who Is An Entrepreneur And What Is Entrepreneurship

I think it’s only fair that today we look at who is an entrepreneur given that the main theme of this blog is to Encourage The Spirit Of Entrepreneurship.

Although we’ve in the past looked at some aspects of entrepreneurship e.g.  10 things every young entrepreneur needs to know, how to turn your hobby into a profitable business and tips on how to make a profitable business (just to mention a few), I feel that it would be better to start a FREE course on Entrepreneurs and Online Entrepreneurship from which we shall see how one can start and run their own online business.

For now I won’t say much regarding the FREE course on Entrepreneurs and Online Entrepreneurship that we’ll be looking at in the days to come but what I can promise you is that the entire experience will be Mind-Blowing! To start us off we’ll look at “Who is an Entrepreneur and What is Entrepreneurship” and this post will be the cornerstone of the entire course.

Who Is An Entrepreneur And What Is Entrepreneurship: So, Who Is An Entrepreneur? 

When I was in campus a few years ago, I did a unit called “Entrepreneurship Skills” and in our first lecture we defined an entrepreneur as;

A person who is able to identify an opportunity to come up with a new business or to transform an existing business in order to earn a profit

 

This simply means that an entrepreneur is a business AND profit minded individual who takes action. If you have something to show for your effort (however minimal) then you’re definitely an entrepreneur. On the other hand, if you only have a business and profit mentality but don’t have anything tangible to show for it then you’re what I would call a potential entrepreneur which is still good! You just need to push a little bit further to get things going.

Who Is An Entrepreneur And What Is Entrepreneurship: What Is Entrepreneurship?

In the same lecture, we also defined entrepreneurship as;

The process of identifying a business opportunity and gathering or organizing business resources to be able to start and run a business

 

This simply means that entrepreneurship is the ability to see a gap in the market AND capitalize on it by filling it up with what is required. In other words, entrepreneurship is all about making sure there’s supply for a demand in the market.

So once again, if you have been physically looking for a business opportunity while gathering the necessary resources,

then you’ve definitely been carrying out entrepreneurship but for those who have been mentally looking for one, you’ve been doing what I would call brainstorming which is also good! You just need to act on your ideas and voilà! Entrepreneurship will be knocking at your door.

It would be worthwhile to mention that in addition to our definition of who is an Entrepreneur, an entrepreneur also is someone who carries out entrepreneurship i.e. the process of him/her identifying an opportunity to come up with a new business or to transform an existing business in order to earn a profit is called entrepreneurship.

Breakdown Of Who Is An Entrepreneur And What Entrepreneurship Is All About

So far I think it’s safe to note that:

An Entrepreneur=A business and profit minded person +Identified business opportunity+ Taking action

Entrepreneurship =A business and profit minded person + Identifying a business opportunity+ Taking action

I’ll call it a day for now BUT in the next post, we’ll use the above information to look at who is an online entrepreneur and what online entrepreneurship is all about.

(Who Is An Entrepreneur And What Is Entrepreneurship: Image Above Courtesy of Freedigitalphotos.net)

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