Entrepreneur - Revision history

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-An '''entrepreneur''' is a person who organizes the means of production to engage in entrepreneurship, often under considerable uncertainty and financial risk. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit. Entrepreneurs may partner with other entrepreneurs to jointly found companies (co-founders), or with an existing organization (e.g., corporate or university spin-outs).
+An '''entrepreneur''' is a person who organizes the means of production to engage in entrepreneurship, often under considerable uncertainty and financial [[risk]]. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and [[marketing]] them, often with the end goal of selling the [[business]] to turn a [[profit]]. Entrepreneurs may partner with other entrepreneurs to jointly found companies (co-founders), or with an existing [[organization]] (e.g., corporate or university spin-outs).
 '''Motivating Factors of Entrepreneurs<ref>What motivates entrepreneurs [https://www.businessnewsdaily.com/7275-entrepreneurship-defined.html Business News Daily]</ref>'''<br />
 What motivates entrepreneurs to venture forth when so many others would run in the opposite direction? Though each person's motivation is nuanced and unique, many entrepreneurs are spurred on by one or more of the following motivators:
-*Autonomy: Entrepreneurs want to be their own bosses, set their own goals, control their own progress and run their businesses how they see fit. They recognize that their business's success or failure rests with them, yet they don't view this responsibility as a burden but, instead, as a marker of their freedom.
+*Autonomy: Entrepreneurs want to be their own bosses, set their own [[goals]], [[control]] their own progress and run their businesses how they see fit. They recognize that their business's success or failure rests with them, yet they don't view this responsibility as a burden but, instead, as a marker of their freedom.
-*Purpose: Many entrepreneurs have a clear vision of what they want to accomplish and will work tirelessly to make that happen. They genuinely believe they have a product or service that fills a void and are compelled by a single-minded commitment to that goal to keep pushing ahead. They abhor stagnation and would rather fail while moving forward than languish in inactivity.
+*Purpose: Many entrepreneurs have a clear [[vision]] of what they want to accomplish and will work tirelessly to make that happen. They genuinely believe they have a [[product]] or [[service]] that fills a void and are compelled by a single-minded commitment to that goal to keep pushing ahead. They abhor stagnation and would rather fail while moving forward than languish in inactivity.
 *Flexibility: Not everyone fits into the rigidity of traditional corporate culture. Entrepreneurs are often looking to free themselves from these constraints, find a better work-life balance or work at times and in ways that may be unconventional. This doesn't mean they are working fewer hours – often, especially in the early stages of growing a business, they work longer and harder – but, rather, they're working in a way that is instinctual for them.
 *Financial success: Most entrepreneurs realize they aren't going to be overnight billionaires, but that doesn't mean they aren't interested in the potential of making a ton of money from a hugely successful business over which they have full control. Some want to establish a financial safety net for themselves and their families, while others are looking to make a huge profit by creating the next big thing.
-*Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a brand that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an innovation that improves people's lives in some tangible way.
+*Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a [[brand]] that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an [[innovation]] that improves people's lives in some tangible way.
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 *Passion: Talk to successful entrepreneurs and you'll nearly always hear the word passion when they describe what they do. Following your passion is one of the best predictors of success.
 *Independent thinking: Entrepreneurs often think outside the box and aren't swayed by others who might question their ideas.
-*Optimism: It's difficult to succeed at anything if you don't believe in a good outcome. Entrepreneurs are dreamers and believe their ideas are possible, even when they seem unattainable.
+*Optimism: It's difficult to succeed at anything if you don't believe in a good [[outcome]]. Entrepreneurs are dreamers and believe their ideas are possible, even when they seem unattainable.
 *Confidence: This is not to say entrepreneurs never have self-doubt, but they're able to overcome it, and believe they can achieve their goal.
 *Resourceful and problem-solvers: Lack of assets, knowledge, and resources are common, but entrepreneurs can get what they need or figure out how to use what they've got to reach their business goals. They never let problems and challenges get in the way, and instead, they find ways to achieve success despite hardships.
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 '''Entrepreneurs and the Economy<ref>Entrepreneurs and the Economy [https://www.investopedia.com/terms/e/entrepreneur.asp Investopedia]</ref>'''<br />
-''Entrepreneurs Impact the Economy''<br />
+''Entrepreneurs [[Impact]] the Economy''<br />
-In economist-speak, an entrepreneur acts as a coordinating agent in a capitalist economy. This coordination takes the form of resources being diverted toward new potential profit opportunities. The entrepreneur moves various resources, both tangible and intangible, promoting capital formation.
+In economist-speak, an entrepreneur acts as a coordinating agent in a capitalist economy. This coordination takes the form of resources being diverted toward new potential profit opportunities. The entrepreneur moves various resources, both tangible and intangible, promoting [[capital]] formation.
-In a market full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as he makes judgments or assumes the risk. To the extent that capitalism is a dynamic profit-and-loss system, entrepreneurs drive efficient discovery and consistently reveal knowledge. Established firms face increased competition and challenges from entrepreneurs, which often spurs them toward research and development efforts as well. In technical economic terms, the entrepreneur disrupts course toward steady-state equilibrium.
+In a [[market]] full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as he makes judgments or assumes the risk. To the extent that [[capitalism]] is a dynamic profit-and-loss [[system]], entrepreneurs drive efficient discovery and consistently reveal knowledge. Established firms face increased competition and challenges from entrepreneurs, which often spurs them toward research and development efforts as well. In technical economic terms, the entrepreneur disrupts course toward steady-state equilibrium.
 ''Entrepreneurs Help Economies''<br />
-Nurturing entrepreneurship can have a positive impact on an economy and a society in several ways. For starters, entrepreneurs create new business. They invent goods and services, resulting in employment, and often create a ripple effect, resulting in more and more development. For example, after a few information technology companies began in India in the 1990s, businesses in associated industries, like call center operations and hardware providers, began to develop too, offering support services and products.
+Nurturing entrepreneurship can have a positive impact on an economy and a society in several ways. For starters, entrepreneurs create new business. They invent goods and services, resulting in employment, and often create a ripple effect, resulting in more and more development. For example, after a few information technology companies began in India in the 1990s, businesses in associated industries, like call center operations and [[hardware]] providers, began to develop too, offering support services and products.
 Entrepreneurs add to the gross national income. Existing businesses may remain confined to their markets and eventually hit an income ceiling. But new products or technologies create new markets and new wealth. And increased employment and higher earnings contribute to a nation’s tax base, enabling greater government spending on public projects.

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-An '''entrepreneur''' is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit.
+An '''entrepreneur''' is a person who organizes the means of production to engage in entrepreneurship, often under considerable uncertainty and financial risk. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit. Entrepreneurs may partner with other entrepreneurs to jointly found companies (co-founders), or with an existing organization (e.g., corporate or university spin-outs).
@@ Line 9: / Line 9: @@
 *Financial success: Most entrepreneurs realize they aren't going to be overnight billionaires, but that doesn't mean they aren't interested in the potential of making a ton of money from a hugely successful business over which they have full control. Some want to establish a financial safety net for themselves and their families, while others are looking to make a huge profit by creating the next big thing.
 *Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a brand that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an innovation that improves people's lives in some tangible way.
@@ Line 24: / Line 37: @@
 Entrepreneurs create social change. They break tradition with unique inventions that reduce dependence on existing methods and systems, sometimes rendering them obsolete. Smartphones and their apps, for example, have revolutionized work and play across the globe.

@@ Line 13: / Line 13: @@
 '''Entrepreneurs and the Economy<ref>Entrepreneurs and the Economy [https://www.investopedia.com/terms/e/entrepreneur.asp Investopedia]</ref>'''<br />
-''Entrepreneurs Impact the Economy''
+''Entrepreneurs Impact the Economy''<br />
 In economist-speak, an entrepreneur acts as a coordinating agent in a capitalist economy. This coordination takes the form of resources being diverted toward new potential profit opportunities. The entrepreneur moves various resources, both tangible and intangible, promoting capital formation.
 In a market full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as he makes judgments or assumes the risk. To the extent that capitalism is a dynamic profit-and-loss system, entrepreneurs drive efficient discovery and consistently reveal knowledge. Established firms face increased competition and challenges from entrepreneurs, which often spurs them toward research and development efforts as well. In technical economic terms, the entrepreneur disrupts course toward steady-state equilibrium.
-''Entrepreneurs Help Economies''
+''Entrepreneurs Help Economies''<br />
 Nurturing entrepreneurship can have a positive impact on an economy and a society in several ways. For starters, entrepreneurs create new business. They invent goods and services, resulting in employment, and often create a ripple effect, resulting in more and more development. For example, after a few information technology companies began in India in the 1990s, businesses in associated industries, like call center operations and hardware providers, began to develop too, offering support services and products.

← Older revision		Revision as of 05:02, 20 January 2021
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	*Financial success: Most entrepreneurs realize they aren't going to be overnight billionaires, but that doesn't mean they aren't interested in the potential of making a ton of money from a hugely successful business over which they have full control. Some want to establish a financial safety net for themselves and their families, while others are looking to make a huge profit by creating the next big thing.		*Financial success: Most entrepreneurs realize they aren't going to be overnight billionaires, but that doesn't mean they aren't interested in the potential of making a ton of money from a hugely successful business over which they have full control. Some want to establish a financial safety net for themselves and their families, while others are looking to make a huge profit by creating the next big thing.
	*Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a brand that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an innovation that improves people's lives in some tangible way.		*Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a brand that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an innovation that improves people's lives in some tangible way.
		+
		+
		+	'''Entrepreneurs and the Economy<ref>Entrepreneurs and the Economy [https://www.investopedia.com/terms/e/entrepreneur.asp Investopedia]</ref>'''<br />
		+
		+	''Entrepreneurs Impact the Economy''
		+	In economist-speak, an entrepreneur acts as a coordinating agent in a capitalist economy. This coordination takes the form of resources being diverted toward new potential profit opportunities. The entrepreneur moves various resources, both tangible and intangible, promoting capital formation.
		+
		+	In a market full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as he makes judgments or assumes the risk. To the extent that capitalism is a dynamic profit-and-loss system, entrepreneurs drive efficient discovery and consistently reveal knowledge. Established firms face increased competition and challenges from entrepreneurs, which often spurs them toward research and development efforts as well. In technical economic terms, the entrepreneur disrupts course toward steady-state equilibrium.
		+
		+	''Entrepreneurs Help Economies''
		+	Nurturing entrepreneurship can have a positive impact on an economy and a society in several ways. For starters, entrepreneurs create new business. They invent goods and services, resulting in employment, and often create a ripple effect, resulting in more and more development. For example, after a few information technology companies began in India in the 1990s, businesses in associated industries, like call center operations and hardware providers, began to develop too, offering support services and products.
		+
		+	Entrepreneurs add to the gross national income. Existing businesses may remain confined to their markets and eventually hit an income ceiling. But new products or technologies create new markets and new wealth. And increased employment and higher earnings contribute to a nation’s tax base, enabling greater government spending on public projects.
		+
		+	Entrepreneurs create social change. They break tradition with unique inventions that reduce dependence on existing methods and systems, sometimes rendering them obsolete. Smartphones and their apps, for example, have revolutionized work and play across the globe.

← Older revision		Revision as of 04:59, 20 January 2021
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	An '''entrepreneur''' is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit.		An '''entrepreneur''' is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit.
		+
		+
		+	'''Motivating Factors of Entrepreneurs<ref>What motivates entrepreneurs [https://www.businessnewsdaily.com/7275-entrepreneurship-defined.html Business News Daily]</ref>'''<br />
		+	What motivates entrepreneurs to venture forth when so many others would run in the opposite direction? Though each person's motivation is nuanced and unique, many entrepreneurs are spurred on by one or more of the following motivators:
		+	*Autonomy: Entrepreneurs want to be their own bosses, set their own goals, control their own progress and run their businesses how they see fit. They recognize that their business's success or failure rests with them, yet they don't view this responsibility as a burden but, instead, as a marker of their freedom.
		+	*Purpose: Many entrepreneurs have a clear vision of what they want to accomplish and will work tirelessly to make that happen. They genuinely believe they have a product or service that fills a void and are compelled by a single-minded commitment to that goal to keep pushing ahead. They abhor stagnation and would rather fail while moving forward than languish in inactivity.
		+	*Flexibility: Not everyone fits into the rigidity of traditional corporate culture. Entrepreneurs are often looking to free themselves from these constraints, find a better work-life balance or work at times and in ways that may be unconventional. This doesn't mean they are working fewer hours – often, especially in the early stages of growing a business, they work longer and harder – but, rather, they're working in a way that is instinctual for them.
		+	*Financial success: Most entrepreneurs realize they aren't going to be overnight billionaires, but that doesn't mean they aren't interested in the potential of making a ton of money from a hugely successful business over which they have full control. Some want to establish a financial safety net for themselves and their families, while others are looking to make a huge profit by creating the next big thing.
		+	*Legacy: Entrepreneurs are often guided by a desire to create something that outlasts them. Others want to create a brand that has longevity and becomes an institution. Another group wants to pass on a source of income and security to their heirs. There are also those entrepreneurs who hope to make a lasting impression on the world and leave behind an innovation that improves people's lives in some tangible way.

← Older revision		Revision as of 04:56, 20 January 2021
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−	'''~~Content Coming Soon~~'''	+	An '''entrepreneur''' is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need. Entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit.