Last Updated 10 May 2020

The Nature and Importance of Being an Entrepreneur

Essay type Research
Words 760 (3 pages)
Views 380

In today's world where various businesses are emerging, it is progressively significant for every person to regard his or her life in an entrepreneur-like manner. Whatever career route an individual has selected, the ability and determination to supplement his or her enterprising outlook and judgment is vital to one’s success.

In order to be called an entrepreneur, there are many varying perspectives on what makes a person an entrepreneur, as well as the nature of the undertaking is. In fact, the meaning of entrepreneur itself is developing as the field penetrates the mainstream of business sector in the United States. Although many of the business masterminds of the previous decades were already regarded as entrepreneurs, it was only during the middle part of the 1970s that the idea prevailed as a portion of the U.S. economy. Since then, the definition of being an entrepreneur became essential. Thereafter, literature provided a broad mixture of expectations on what this field of enterprise really means.

An entrepreneur simply means a person who has and runs his or her own business venture, assuming all its possible obligations, dangers and benefits. An entrepreneur is a businessperson who has resolved to be in charge of his or her future. In doing so, self-employment becomes the name of the game. In effect, an entrepreneur either makes a personal business or works as a group member just like in a multi-level marketing. Generally, such kind of individuals has a high level or intense vigor, experiences and shows self-assurance, and plans a permanent goal.

Don't use plagiarized sources. Get Your Custom Essay on

The Nature and Importance of Being an Entrepreneur

just from $13,9 / page

get custom paper

In addition, an entrepreneur perceives money and financial safety as the standard of achievement. Entrepreneurs insist in resolution of a problem, accept hazards, learn from personal and others' mistakes, take on the first step, acquire own obligation, and employ all accessible resources to accomplish prosperity. Entrepreneurs basically vie to nobody but themselves with the trust that their attainments and mistakes rest based on their own power or charm. Hence, they do not treat non-achievement as a misfortune but as a learning experience. Ultimately, an entrepreneur never surrenders nor stops attempting for attainment or prosperity (Tucker, 2007).

An entrepreneur's goals and motivations come from different reasons and factors. These two attributes supplement each other. This is because one's goals are the same components that prompt him or her to demonstrate what it takes to be an entrepreneur and to succeed in the field. Entrepreneurs are primarily set on making money, but in reality, it is their utmost desire to uplift their respective lives that enable them to help others. Their goal to succeed and practically earn money, in turn, allows them to provide assistance to others.

In simple essence, it is their motivation to assist in creating better lives or improving the way of living of other people that truly works. Moreover, they have a goal to be recognized, first as ambitious businesspersons, and eventually for their products or services to be acknowledged. This goal, in effect, motivates entrepreneurs to innovate or pioneer fresh and unique enterprises that would stand out in their chosen field.

Moreover, entrepreneurs aim to compete with the business tycoons. This said goal prompt entrepreneurs to compete with the field's magnates. With a goal to challenge big businessmen, entrepreneurs may be faced with setbacks which they regard as another motivation. This is because entrepreneurs are more driven if they are faced with problems and the opportunity to achieve something that is difficult (Kotite, 2008).

Meanwhile, entrepreneurs are noted for their profound contribution to the U.S. economy. For this reason, they are regarded as the backbone of the American business. A powerful and growing American economy is attributed to the contributions of the entrepreneurs. Previous American leaders, such as former President Bill Clinton and his wife Senator Hilary Clinton, have acknowledged the importance of entrepreneurs as contributors to labor sectors.

Despite struggles, the two, as well as the country's economists, have noted that the fearless, well-planned, yet low-financed undertakings of entrepreneurs have created more employments that were displaced when the country's big businesses were suffering from restructuring during the last two decades. In fact, the tremendous increase in job percentage in the United States was already being provided and sustained by the various enterprises of the entrepreneurs. Although regarded as those belonging in the small business sector, American entrepreneurs made their presence felt and settled their place in the mainstream business by having their own businesses and eventually providing employment to other Americans.

References

Kotite, E. (2008, March 19). What motivates you? Entrepreneur.com. Retrieved June 30,

2008 from Entrepreneur.com database http://www.entrepreneur.com/worklife/article191734.html

Tucker, D. (2007). Are you an entrepreneur? Home Business Magazine. Retrieved June 30,

2008 from http://www.pandecta.com/entguide.html

Remember. This is just a sample.
You can get your custom paper from our expert writers

get custom paper

Cite this page

The Nature and Importance of Being an Entrepreneur. (2018, Sep 12). Retrieved from https://phdessay.com/the-nature-and-importance-of-being-an-entrepreneur/

Not Finding What You Need?

Search for essay samples now

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Your Deadline is Too Short?  Let Professional Writer Help You

Get Help From Writers