Commitment & Determination – What Makes You an Entrepreneur

What makes you an entrepreneur ?; this question is simple but very difficult to answer. For a long time, people have studied the science behind entrepreneurial process, what drives a great entrepreneur, the things that make an ordinary person transforms into a job creator.

To answer this question, it's much better if we try to understand what's behind an entrepreneurial process. At the heart of every entrepreneurial process is the founder, the opportunity seeker, the creator and initiator, the leader, problem solver, and motivator; the planner and the guardian of vision and mission. Without this human energy, behavior, drive, and vitality, the greatest ideas-even when they are backed by an overabundance of resources and people-will fail, grossly underperform, or simply never get off the ground. Brilliant athletic aptitude and potential is not equal with the great athlete. The difference is invisible and intangible: commitment, tenacity and determination.

Commitment and determination are seen as more important than any other factor that inspiring an entrepreneur. It makes an entrepreneur can overcome incredible obstacles and also compensate enormously for other weaknesses. Almost without any exception, entrepreneurs live under extreme, constant pressure (when they start their business, for them to stay alive, and for them to grow). A new business requires top priority of entrepreneur's time, emotion, patient, and loyalty. The level of entrepreneur's commitment can be measured in several ways: through a willingness to invest a substantial portion of his or her net worth in the venture, through a willingness to take a cut in pay because he or she will own a major piece of venture , and through the other big sacrifices in lifestyle and family circumstances. Clearly, commitment and determination usually demand personal sacrifice.

What you should keep in mind is that the desire to win never equal to the will to never give up. And this is actually a critical distinction. So many lead entrepreneurs say that they really want to win, but only a few have the dogged tenacity and unflinching perseverance to make it happen. Just take an example of a young entrepreneur who made several phone call but none were returned. He made a few more calls but still, no response. Over the next week he made yet another series of calls that once again received no response. At that point, what would you do? Would you keep trying, or decide to move on and not waste any more time? Only you can answer this question, and the answer will give a clear picture of your persistence's level.

Entrepreneurs who successfully build new business seek to overcome hurdles, solve problems, and complete the job. They are disciplined, tenacious, and persistent. They are able to commit and recommit quickly. They love to win and love to compete at anything. However, if tasks are unsolvable, an entrepreneur will be the first person to give up than the others. There is a fair opinion says that while entrepreneurs are extremely persistent, they are also realistic in recognizing what they can and can't. They know where they can get help to solve a very difficult but necessary task.

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Why A Medical Coding Study Guide Makes Your Life Easier

Trying to get certified by passing the medical coding certification exams are no joke. For you to qualify as a CPC (Certified Professional Coder) or a CCS-P (Certified Coding Specialist – Physician), you need to study and you need to study hard. But spending hours after hours scouring over your notes and books won't really do much if you do not have the right tools and techniques to help you along. It is not uncommon to find people who have failed the exams time and time again. But if you want to qualify and move onwards to better coding jobs, getting certified is a must.

The fact that the certification exam is open book does not seem to make it any easier for most people. The problem is, they do not know what to focus on and as a result, they wind up studying late into the night and still fail. You need to know what to look for; what is necessary for you to pass that coding exam, get certified and stay certified. You also need an experienced trainer telling you exactly what you need to know and do when you're in the exam hall. Learning from one of the most experienced and certified medical coders gives you that added advantage.

That is why having the highest rated medical coding study guides by an experienced and certified medical coding trainer is a brilliant idea.

Laureen Jandroep's Medical Coding Certification Review Blitz Videos is one of the most highly rated study guides online. By simply looking at the testimonials she has garnered, you can see just how many people lives this study guide has made easier; how many coding professionals it has helped pass their coding exams without the seemingly insurmountable stress that comes with studying for these exams. You get an insight into what makes her one of the best and how she got to where she is right now.

Her videos do more than just help you pass your coding exams. They give you a lifelong skill that will go a long way into helping your career in the future. With her study guide, you'll have her email support and monthly Q&A webinars to help you along in your journey. You also get to be part of an exclusive group of medical coders that meets online and discuss beneficial industry matters such as best practices and dish out job opportunities. When it comes to continuing support, Laureen Jandroep's Medical Coding Certification Review Blitz Videos is without a doubt the best medical coding study guide that you have been looking for.

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What Do You Do When You Have An Emergency In Spain?

Emergencies do occur – If you found yourself witnessing or involved in one would You Know What To Do?

The 'standard' emergency number in Spain is 112 . Not 999 or 911 .

An alternative for Guarda Civil (Local Police) only is 602 .

In addition to knowing what numbers to dial – you need to know what to say.

The sections below show some useful words & phrases – the English version shown in italics while the Spanish version is shown normal.

If you have a specific medical condition I would strongly recommend that you research, translate it and add it to this list.

Note: Due to platform constraints not all of the syntax of the Spanish versions of the words can be produced.

GENERAL WORDS AND INSTRUCTIONS

Help! ==> Socorro!

Fire! ==> Fuego!

Bomb! ==> Bomba!

Run! ==> Corre!

Stop! ==> Para!

Look out! ==> Cuidado!

Get down! ==> Al suelo!

Danger! ==> Peligro!

Rape! ==> Violacia!

MEDICAL

I am injured ==> Estoy herido

I feel ill ==> Me siento mal

Please call an ambulance ==> Llame una ambulancia por favor

I have an allergy to (eg penicillin) ==> Tengo alergia a (la penicilina)

I have problems with (eg my heart) ==> Tengo problemas de (corazon)

I need my medication ==> Necesito mis medicamentos

EXPRESSIONS

Do you speak English? ==> Habla ingles?

I need … ==> Necesito …

… an ambulance ==> … una ambulancia

… a hospital ==> … un hospital

… to go to the accident and emergency unit ==> … ir a urgencias

… a doctor ==> … un doctor

… the police ==> … la policia

… the fire service ==> … los bomberos

… a pharmacy ==> … una farmacia

I need to report a crime ==> Tengo que hacer una denuncia

Can I use your phone please? ==> Me permite usar su telefono por favor?

It is an emergency ==> Es una emergencia

I have been robbed ==> Me han robado

I have been attacked ==> Me han atacado

I have been raped ==> Me han violado

There has been an accident ==> Ha habido un accidente

I have lost my money and passport ==> He perdido mi dinero y pasaporte

I do not have any identification ==> No tengo identificacion

GENERAL

Drive safely ==> Conduzca con seguridad

Fasten your seatbelt ==> Abrechese el cinturon de seguridad

Wear a helmet ==> Use casco

Drink sensibly ==> Beba con moderacion

Not drinking water ==> Agua no potable

Keep your belongings safe / in sight ==> Mantenga sus pertenencias a la vista

Do not enter ==> No entrar

Do not swim / dive ==> No nadar / No tirarse al agua

Please ==> Por favor

Thank you ==> Gracias

Of course it is fine having a list of Spanish words and phrases to use should an energency occur – but to be understood in Spain you must have some idea of ​​how to pronounce these words. This is beyond the scope of this article – follow the link in the resource box for more help with this.

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Recruitment as the Most Important Aspect of Human Resource Management

Human Resource Management theories focus on methods of recruitment and selection and highlight the advantages of interviews, general assessment and psychometric testing as employee selection processes. The recruitment process could be internal or external or could also be online and involves the stages of recruitment policies, advertising, job description, job application process, interviews, assessment, decision making, legislation selection and training (Korsten 2003, Jones et al, 2006 ).

Examples of recruitment policies within healthcare sector and business or industrial sectors could provide insights on how recruitment policies are set and managerial objectives are defined. Successful recruitment methods include a thorough analysis of the job and the labor market conditions and interviews as well as psychometric tests to determine the potentialities of applicants. Small and medium sized enterprises (SMEs) also focus on interviews and assessment with emphasis on job analysis, emotional intelligence in new or inexperienced applicants and corporate social responsibility (CSR). Other techniques of selection that have been described include various types of interviews, in tray exercise, role play, group activity, etc.

Recruitment is almost central to any management process and failure in recruitment can create difficulties for any company including an adverse effect on its profitability and inappropriate levels of staffing or skills. Inadequate recruitment can lead to labor shortages, or problems in management decision making and the recruitment process could itself be improved by following management theories. The recruitment process could be improved in sophistication with Rodgers seven point plan, Munro-Frasers five-fold grading system, psychological tests, personal interviews, etc. Recommendations for specific and differentiated selection systems for different professions and specializations have been given. A new national selection system for psychiatrists, anesthetists and dental surgeons has been proposed within the UK health sector.

Recruitment is however not just a simple selection process and requires management decision making and extensive planning to employ the most suitable manpower. Competition among business organizations for recruiting the best potential has increased focus on innovation, and management decision making and the selectors aim to recruit only the best candidates who would suit the corporate culture, ethics and climate specific to the organization (Terpstra, 1994). This would mean that the management would specifically look for potential candidates capable of team work as being a team player would be crucial in any junior management position.

Human Management resource approaches within any business organization are focused on meeting corporate objectives and realization of strategic plans through training of personnel to ultimately improve company performance and profits (Korsten, 2003). The process of recruitment does not however end with application and selection of the right people but involves maintaining and retaining the employees chosen. Despite a well drawn plan on recruitment and selection and involvement of qualified management team, recruitment processes followed by companies can face significant obstacles in implementation. Theories of HRM may provide insights on the best approaches to recruitment although companies will have to use their in house management skills to apply generic theories within specific organizational contexts.

Bibliography

Jones, David A .; Shultz, Jonas W .; Chapman, Derek S. (2006) Recruiting Through Job Advertisements: The Effects of Cognitive Elaboration on Decision Making International Journal of Selection and Assessment, Volume 14, Number 2, pp. 167-179 (13)

Korsten AD (2003) Developing a training plan to ensure employees keep up with the dynamics of facility management Journal of Facilities Management, Volume 1, Number 4, pp. 365-379 (15)

Papers For You (2006) "P / HR / 254. HRM: methods of recruitment and selection", Available from http://www.coursework4you.co.uk/sprthrm18.htm [22/06/2006]

Papers For You (2006) "E / HR / 21. Using relevant frameworks and theories critically evaluate the recruitment and selection appraisal processes used by an organization with which you are familiar contribute. How does it contribute to the performance of the organization?", Available from http://www.coursework4you.co.uk/sprthrm18.htm [21/06/2006]

Shipton, Helen; Fay, Doris; West, Michael; Patterson, Malcolm; Birdi, Kamal (2005) Managing People to Promote Innovation Creativity and Innovation Management, Volume 14, Number 2, pp. 118-128 (11)

Terpstra DE (1994) HRM: A Key to Competitiveness Management Decision, Volume 32, Number 9, pp. 10-14 (5)

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American Health Care Trends: Old, Fat and Lazy

The recent AMA Executive Summary "Health in the United States: Health Care Trends" contains both a little hope and a lot of gloom.

Population Trends

By 2050 the segment of the population over 65 will double from today to 83.7 million. This means that the prevalence of chronic illness will rise dramatically. Since 1990, smoking has decreased from 29.5% to 18.1% of the adult population. Probably as a result, stroke has declined 34%, heart disease 27%, and cancer 17%. This sounds good but …

Fat and Sluggish

Since 1990, the obesity rate in adults (defined as BMI over 30) has increased from 12% to 29.6%. During the same time diabetes increased from 4.4% to 10% of all adults. Not old adults, all adults. The CDC predicts that by 2050, thirty percent of adults will have diabetes. As a result, obesity is now the leading cause of heart attacks. Physical inactivity is a major reason. Only 21% of adults get the US Department of Health and Human Services recommended 150 minutes of exercise weekly. My observation is that most get no exercise. Many employers now offer wellness programs that give financial rewards for healthy behaviors. This could be a big step in the right direction. Of course, punitive actions denying health insurance to the morbidly obese or uncontrolled diabetics could also be coming, especially if the federal government leaves the health insurance business to private companies.

Is There a Doctor in the Zip Code?

The AMA reports that primary care doctors are closing their practices and either retiring early or moving to non-clinical areas like insurance, quality management, the pharmaceutical industry or even medical informatics. Since the demand for health services will increase dramatically, an increasing percentage of primary care will be provided by PAs and Nurse Practitioners. I expect they will have increasing independence. This is not necessarily a bad thing, many of these caregivers are excellent and offer compassionate and comprehensive care. A possible byproduct of this trend may be an increase in demand for referrals and subspecialty care, such as sending diabetics to endocrinologists and COPD patients to lung specialists.

Take Responsibility or Someone Else Will

A dystopian future looms where the cost of medical care is greater than our resources can manage. In this rather terrifying situation, someone will have to be denied services, probably either the powerless or those who refuse to adopt mandatory health guidelines. It hasn't come to that yet. We still have time to make recommended changes in diet and activity. Remember, who could have predicted everyone would stop smoking?

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Standard Home Insurance and Lightning Damage

The National Lightning Safety Institute gives us the statistics on lighting strikes.
Did you know that the odds for a person to be hit by lightning are quite slim – 1 in 280,000. When it comes to lightning striking a home there is much greater frequency, however: a likelihood of one in two hundred!

The insurance companies seem to underscore the possibility with a 2015 report that found related insurance damage claims surpassed even the high $ 825 million index.
Alarming as it is, the fact that standard home owner insurance can cover this type of peril up to the limits of the particular policy provides a form of peace of mind to those thinking individuals that are concerned about disasters like a lighting strike.

Losses associated with lightning may incorporate the following:

• Damages related to personal property, including things like electronics and appliances

• Structural as well as damages on property that were caused by a fire sparked by a lightning's direct strike

The issues involving lightning strikes are not resigned only to the above information. Read on for a summary on further related matters.

Additional Matters regarding Lightning Damages Coverage to Know

Electrical surges that are caused by a lightning strike may significantly damage connected personal electronic equipment. Possible losses can run into reach immense financial proportions in today's society where electronics is an investment most make. Because insurance payment is based on the actual cash value, equivalent to the present day price for similar items, reduced by depreciation, it may be worth the while of someone in a high frequency lightning occurrence to add replacement cost coverage to their home insurance policy.

Insured homeowners are advised to read through their homeowners' policies to see if additional living expenses are included in coverage. If a related fire makes a home unfit for occupancy while it is being repaired or rebuilt, such coverage will pay for temporary comparable housing accommodations.

Insurance experts also have another underscored recommendation for the homeowner: make sure to draft a comprehensive list of all the items in your home so that in the event of a related claim, there will be less complications to the process.
Just as every face in a household differs in its uniqueness, so does every home owner's exposure to perils. Let an experienced independent agency navigate your homeowners insurance so you know you will have coverage for your individual needs and requirements.

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Twelve Information Security Principles of Success

Information Security sounds like a complicated task, but it really isn't. Knowing what needs protected and how to protect it are the keys to security success.

Twelve Information Security Principles of Success

  1. No such thing as absolute security. Given enough time, tools, skills, and inclination, a hacker can break through any security measure.
  2. The three security goals are: Confidentiality, Integrity, and Availability. Confidentiality means to prevent unauthorized access. Integrity means to keep data pure and unchanged. Availability means to keep data available for authorized use.
  3. Defense in Depth as Strategy. Layered security measures. If one fails, then the other measures will be available. There are three elements to secure access: prevention, detection, and response.
  4. When left on their own, people tend to make the worst security decisions. Examples include falling for scams, and taking the easy way.
  5. Computer security depends on two types of requirements: Functional and Assurance. Functional requirements describe what a system should do. Assurance requirements describe how a functional requirement should be implemented and tested.
  6. Security through obscurity is not an answer. Security through obscurity means that hiding the details of the security mechanism is sufficient to secure the system. The only problem is that if that secret ever gets out, the whole system is compromised. The best way around this is to make sure that no one mechanism is responsible for the security.
  7. Security = Risk Management. Security work is a careful balance between the level of risk and the expected reward of expending a given amount of resources. Assessing the risk and budgeting the resources accordingly will help keep abreast of the security threat.
  8. Three type of security controls: Preventative, Detective, and Responsive. Basically this principle says that security controls should have mechanisms to prevent a compromise, detect a compromise, and respond to a compromise either in real-time or after.
  9. Complexity is the enemy. Making a network or system too complex will make security more difficult to implement.
  10. Fear, uncertainty, and doubt do not work. Trying to "scare" management into spending money on security is not a good way to get the resources needed. Explaining what is needed and why is the best way to get the resources needed.
  11. People, process, and technology are all needed to secure a system or facility. People are needed to use the processes and technology to secure a system. For example, it takes a person to install and configure (processes) a firewall (technology).
  12. Disclosure of vulnerabilities is good. Let people know about patches and fixes. Not telling users about issues is bad for business.

These are by no means a fix-all for security. The user must know what they are up against and what is needed to secure their system or network. Following the twelve principles will help achieve success.

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Calvin Klein – Calvin Klein's Success Story

Growing Up

Klein, born November 19, 1942, was taught by his mother to love fashion. He would often accompany her when she went shopping in New York City for affordable clothes. From an early age he knew he wanted to be a fashion designer, and taught himself how to sketch and sew.

Before he turned twenty, he graduated from the Fashion Institute of Technology in New York. He married Jayne Center and began working as an apprentice sketching European coat designs for his employer Dan Millstein to copy. Klein, however, disdained the idea that the normative American practice was to imitate European fashion and longed to start his own company. He believed that original fashion ideas could come out of the States and he was just the innovator to make it happen. But the realization of his dream seemed a long way away since he was struggling financially and was working part-time at his father's grocery store in order to make some extra money

Starting The Business

Calvin Klein Ltd. was formed in 1968. Klein took a $ 10,000 loan from a friend and used $ 2,000 of his own money to get it started. Rather than hunting out success, it stumbled upon him. His first order came from a coat-buyer for the large department store Bonwit Teller who got off the elevator on the wrong floor and saw Klein's work. The buyer was impressed and ordered $ 50,000 worth of coats. In addition, an editorial praising Klein's designs was written up in Vogue. Klein's reputation was quickly established.

Five years after starting Calvin Klein Ltd., Klein moved away from solely designing coats and offered women a less-expensive alternative to the ostentatious European fashions with sportswear that could be identified as having "The Calvin Klein Look". Men also were drawn to Klein's comfortable outfits and masculine designs.

He was recognized for his accomplishments by being awarded the Coty award by the fashion press in 1973, 1974, and 1975, and his wealth grew as the public continued to buy his subdued clothing. But success troubled his home life and Klein and Center divorced in 1974. Klein embarked on a period of partying and irresponsibility. By now a prominent public figure, Klein could be found nightly at Studio 54, but his days of unconcerned ease ground to a halt in 1978 when his daughter Marci was kidnapped. Marci returned home safely, but the incident frightened Klein enough to turn away from the publicity he once so doggedly sought.

Building An Empire

It was through a titillating ad campaign in 1980, featuring a 15-year old Brook Shields in a pair of tight-fitting jeans and the line "Nothing comes between me and my Calvins," that pushed Calvin Klein Ltd. forward once more. This now much-emulated, sexually driven method of advertising was at once condemned by feminists, calling it pornographic. However, through this experience Klein learned that there is no such thing as bad press; In their first week, an astonishing 200,000 pairs of the tight-fitting Calvins were sold. In 1982, Klein was taken to court over an ad campaign featuring men wearing nothing but briefs embossed in the Calvin Klein name. Though some magazines refused to print the ads, the underwear sold incredibly well.

Due to the appearance of AIDS and the affect this had on the promiscuousness of the 1970s, the demand for the sexy, body-hugging jeans declined. The debt Klein had amassed by 1984 nearly toppled his fashion empire. Using $ 80 million in junk bonds, Klein refinanced the debt, leaving his company at great risk.

Klein married again in 1986. However, addicted to vodka and Valium around this time, Klein was admitted to a rehab center in the Caribbean. By the time he got out, bankruptcy was imminent, but David Geffen, a friend from Klein's days partying at Studio 54, helped him out financially and gave him the chance to begin again.

Saved from ruin, Klein went immediately to work churning out a variety of products. The CK brand of more affordable designer clothing, and, like Richard Branson, licencing the Calvin Klein name to sunglasses and other fashion accessories pulled the fledgling Klein back out on top.

Again controversy around one of Klein's ad campaigns in 1995 prompted the FBI and Justice Department to investigate Klein for violating child pornography laws. Klein stopped the campaign, and eventually the Justice Department's ruling came down in his favor.

With CK perfume and his CK jeans a success and money pouring in once again, Klein is undoubtedly the picture of a survivor who could have self-destructed, but because of a wealth of good ideas coupled with good fortune and diligence, he has become one of the world's foremost fashion designers.

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Real Estate Investment Outlook

Although it appears to have been mainly technical factors that triggered the correction in the stock market, inflation concerns have been the major cause for plummeting stock market prices. We have outlined such a scenario of inflation and its impact on real estate investments.

Indeed, the difference between current and trend economic growth is moving close to zero, rising labor demand is putting upward pressure on wages and salaries, but it is still far from a strong acceleration in inflation rates. Meanwhile, the recommendation by the US Department of Commerce in its investigation to restrict aluminum and steel imports on national security grounds is a reminder that the risk of escalating trade tension has a significant impact on real estate investments.

We are not suggesting that the probabilities of risks have risen substantially in light of these events. However, we argue that higher volatility combined with uncertainties about the future uncertain outlook for US trade policy is not an environment where we should risk everything on one endeavor, but rather seek returns by pursuing opportunities in the real estate market.

It would be more than natural that unjustified price appreciations will be corrected over time. Some teams believe that rising inflation may have played a prominent role in the recent stock market sell-off. However, higher inflation points to an overheating economy and rising wages could lower profit margins. Neither case obviously applies at the current time. However, historical evidence shows that periods when inflation begins to rise often create volatility in real estate markets and, on average, returns are meager. Finally yet importantly, higher interest rates could hit real estate prices if they reflect rising risk. Higher interest rates should be less relevant if they result from higher growth.

For now, we expect the implications of rising interest rates on the real estate outlook to be limited. A more persistent significant decline in real estate prices could, however, be associated with somewhat slower growth, either because the economy anticipates a slowdown, or because economic decline itself dampens growth.

The impact of rising interest rates on growth also depends on the factors that pushed up interest rates. The rise in interest rates could be the consequence of stronger growth momentum, in which case the economic fallout is understandably limited. However, if higher interest rates reflect rising risks, for instance, then growth may well suffer more significantly. Financial conditions remain very loose and interest rates relatively low. This should continue to support economic growth.

Therefore, we are keeping our scenario of sustained economic growth: (1) higher world economic activity, (2) rising fixed capital formation, (3) a very gradual adjustment of monetary policy in the US. We acknowledge the risks from higher protectionism, as recent announcements are a reminder that trade frictions could escalate significantly. At this point, it remains to be seen what action the US will take and how other countries may respond.

Since the beginning of the Great Recession in 2008, most have averted the specter of deflation by deploying conventional and – even more importantly – unconventional measures of monetary policy. Inflation in the US averaged around 1.5%, with a dispersion of -2% in mid 2009 to approximately 3.8% in late 2011. Currently, US consumer price inflation stands at 2.1%.

In the US, the government is embarking on a path of fiscal stimulus, and more trade tariffs and trade friction may push inflation higher. However, several factors are keeping underlying inflationary pressure contained for now, including still-cautious wage bargaining behavior by households, price setting by firms and compositional changes in the labor market. In addition, the recent readings have likely overstated current price trends, (the surprising weakness in inflation in 2017). Outside the US, wage and price trends have not changed much in recent months.

Against this backdrop, we do not foresee any surprises over the course of 2018. The Fed is expected to gradually lift rates with caution depending on the tightness of the US labor market, the evidence of accelerating wage dynamics and the potential impact of higher financial market volatility on economic growth.

In addition, a tax policy that fosters the competitiveness of Corporate America and attracts direct foreign investments, helping to raise the potential growth rate of US, should also be supportive for the greenback. At the same time, there are as many factors pointing to a glorious future for real estate markets

According to the Federal Reserve Bank of New York, the current probability of recession for the US economy stands at around 4%, moving to approximately 10% at the end of 2018. In our view, the gradual tightening of monetary policy, limited inflation expectations and cautious investment demand, will keep real interest rates relatively low. Therefore, we prefer real estate investments in 2018.

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Entrepreneurship – Who Is An Entrepreneur?

I came to realize that entrepreneurship has been there for so many years and that there are many people who cannot define correctly who an entrepreneur is. This is because there is a disagreement of whether entrepreneurs are born or made. By the way, are entrepreneurs born or made? I'm afraid if we start this discussion we might not come to a conclusion.

Why is it that there is no universal agreement whether entrepreneurs are born or made? First, entrepreneurs are born because there are some people who have come up with new business ideas that are currently recognized as successful businesses but these people were never educated on how to become entrepreneurs. On the other hand entrepreneurs are made because there are some successful entrepreneurs who have studied entrepreneurship courses (diploma and degree programs) offered by colleges and universities.

Is it true that people have not succeeded in defining who a true entrepreneur is?

My own personal experience was that for ten years we ran a research center in entrepreneurial history; for ten years we tried to define the entrepreneur. We never succeeded. Each of us had some notion of it-what he thought was, for his purposes, a useful definition. And I don't think you're going to get farther than that-By Arthur Cole.

According to what I studied in high school under the subject of business, an entrepreneur is "a person who sets up successful businesses and business deals." But this definition does not bring out a clear definition because not everyone who sets up a business and is running it successful is an entrepreneur. There is more of who a true entrepreneur is other than setting up a business and running it successfully.

Economics and business people don't seem also to agree on who is a true entrepreneur. From economist point of view, "The entrepreneur is one who is willing to bear the risk of a new venture if there is a significant chance for profit. Others emphasize the entrepreneur's role as an innovator who markets his innovation. Still other economists say that entrepreneurs develop new goods or processes that the market demands and are not currently being supplied. "

Entrepreneurship concept first came into existence in the 1700s. Since then it has evolved to what it is now today. Despite the failure of defining who a true entrepreneur is, we can all agree that entrepreneurs play a major role in enhancing the lives of people in many different ways. They come up with new ideas which have led them to create business organizations.

These organizations apart from creating job opportunities directly or indirectly they also serve people in various ways. Entrepreneurs are viewed as people who either create new products or improve the existing products so as to solve problems facing people.

Trait Approach

We can describe who a true entrepreneur is by using the trait approach. Under this approach, the common traits successful entrepreneurs possess describes if a person is a true entrepreneur. The traits are:

1.) Taking Risks: They take risks after they have discovered viable business opportunities. They already know that business ideas which have got high risks are the ones which yield high profits. Generally speaking, successful entrepreneurs have taken risks to be where they're now.

2.) Passion: Whatever the business idea they come up with, they have passion for it. Passion keeps successful entrepreneurs going by being focused.

3.) Hardworking: Successful entrepreneurs have a common trait of working hard. They work hard in seeing that all the tasks of the business are completed on time and efficiently.

4.) Optimistic: Optimism is the trait that successful entrepreneurs have in common. They believe that in the future their ideas will be successful businesses. They have no room for doubting their business ideas.

5.) Good Leadership: They have the trait of good leadership. Successful entrepreneurs know how to motivate their employees so that they give their best in attaining success. They create policies and goals for their businesses. They oversee that these policies are followed and the goals are accomplished on time.

6.) Determined and Persistent: Successful entrepreneurs are determined and persistent in making their new business ideas successful. They don't give up after experiencing some failures in executing some tasks but they're persistent and determined because they're motivated by success and not money. For them, money is only a reward they get.

7.) Flexible: Entrepreneurs who have succeeded respond to market needs swiftly. Whenever there are changes in market needs they respond to them swiftly so as not to lose their customers. They search for opportunities to exploit when a change occurs. Successful entrepreneurs have a common trait of adjusting their entrepreneurship ventures to fluctuating economic conditions. "The entrepreneur always searches for change, responds to it, and exploits it as an opportunity-By Peter Drucker."

8.) Creativity: They research and come up with creative new business ideas. Successful entrepreneurs continuously innovate new ways of satisfying customers.

9.) Organization Ability: Successful entrepreneurs are well organized. They organize factors of production such as labor, land and capital in running their entrepreneurship ventures.

With all the above information, I urge you not to fail to appreciate what a true entrepreneur is still working on. This is because a true entrepreneur never gives up no matter the failures he experiences in executing some tasks. He is optimistic that one day his business idea will be a successful business.

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