Entrepreneurship and self employment part 1

   Many people simply equate entrepreneurship with starting one's own business.To economists,entrepreneur is one who is willing to bear risk of a new business venture.others believe that an entrepreneur innovates and market his innovation to make profit.
An entrepreneur developed new goods and services that the market demands which is not currently existing.AN entrepreneur actually searches for change as an opportunity example is change from typewriter to personal computer and to the internet.Most economists agree that entrepreneurship stimulates economic growth and generates employment opportunities.

What makes someone an entrepreneur?

Successful entrepreneurs come in various ages,income level,gender and race.They also differ in education and experience,in fact dropped out of university.Most successfully entrepreneurs share certain personal attributes such as creativity,dedication,flexibility, determination,leadership,self confidence and passion.They are also smart.

Creativity is what usually lead to development of new producs or service or spark of new ways of doing business entrepreneurs continuously learn,question and think outside the prescribed formulas.

Dedication is what motivates an entrepreneur to work hard against all odds.An entrepreneur can decide to work 12 hours,even  seven days a week to get the business of the ground.Hard work a lone is not enough to make an entrepreneur succeed.He must combine hardwork with planning and ideas to succeed.

Determination is intense desire to success against all odds.determination includes persistence and the ability to bounce back after rough times.It persuades the entrepreneur to make the tenth phone call to close the sale,after nine have yielded no fruit. A true entrepreneur does not see money as motivator rather a reward while success is the motivator.

Flexibility is the ability of the entrepreneur to respond to market needs.Though the dream is to be successful, an entrepreneur should be mindful of market realities.

Leadership is the ability to create rules and follow set goals.It is the ability to follow through the process to see that rules are followed and that goals are accomplished.

Passion is what get's the entrepreneur started and keeps them there. It gives them the ability to convince others to believe in tneir vision.
Passion can't substitute for planning but help the entrepreneur to remain focused and to get others interested in their plans.

Self confidence reduces uncertainty and level of risk. it is as a result of planning
Self confidence also comes from expertise.the ability of the entrepreneur to listen without being intimidated.

Every entrepreneur has the above qualities in different degrees.Eve if any entrepreneur lacks one or more of these skills.Many skills can be learned or the entrepreneur can hire someone with the skills he lacks.The best strategy is to  is to recognise the strengths and  build on them.