entrepreneur

  

Definition

Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.

An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.

According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. Schumpeter discovered that they

  1. greatly value self-reliance,
  2. strive for distinction through excellence,
  3. are highly optimistic (otherwise nothing would be undertaken), and
  4. always favor challenges of medium risk (neither too easy, nor ruinous).

Use entrepreneur in a sentence

  • The entrepreneur had discovered a new market for her app and through proper investment and advertising was successfully generating capital for her investors.

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  • After years of working to make his emplyers rich, Ken decided he wanted to try his hand at being an entrepreneur

    8 people found this helpful    
  • After a short stint as an assistant baker, he decided to become and entrepreneur and invest all of his savings into his own gourmet bakery.

    2 people found this helpful    
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Notable Quotes

  • Dealing with Ambiguity is Key
    "If you want to become an entrepreneur, you must learn how to deal with ambiguity and even thrive on it. There is very little structure in startups when it comes to things like business model, client base, work environment etc."
    - Varun Gulati
  • Find the Thing You Do Better than Everyone Else
    "I think one way to become an entrepreneur is to find that one thing you are passionate about and realize that you can do it better than anyone else."
    - Teajai

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