So, who exactly is an entrepreneur, what are the qualities of an entrepreneur?… well Wikipedia says, “An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome”… umm… okay but I would rather say, that an ideal entrepreneur is a person who guides a manpower in order to apply an idea(doesn’t matter if it’s his or of someone else and whether it is new or old) to satisfy those who need the benefits produced by it, which results in financial outcomes or profits.
So the basic characteristics or qualities of an entrepreneur would be:
– He or she should have an Idea (again, irrespective of who originally thought of it and whether it is new or old).
– He or she should have the motivation/urge to pursue or apply the idea.
– He or she should have access to manpower or to the ability to make manpower accessible to him (marketing skills apply here).
– He or she should be a good leader.
But then, there are other kinds of people too who have some or many of the above mentioned qualities; but we don’t call them Entrepreneur. A good example of such an individual could be a scientist. Scientists do have ideas or, in other words, they can actually create ideas. They are definitely excited or motivated about pursuing their ideas and no doubt, they are good leaders as well and they, for sure have access to at least minimal manpower (No, most scientists don’t work in solitude as shown in movies like Robin Williams’ Flubber or Frankenstein, they have at least 2-10 people working under them as junior scientists). But then why don’t we call a scientist an entrepreneur as well? Is he an exception to the above definition?… food for thought huh?
And how about a dictator? He has his own or borrowed ideas, He wants to apply them, he has access to man power, can guide them very well… in fact, they will do almost anything he wants. So, does that mean, a dictator is an entrepreneur or, an entrepreneur is a dictator!!