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Entrepreneur - What is an Entrepreneur?

By , About.com Guide

Definition: Although the definition of entrepreneur may vary a bit depending on whom you ask, the basic definition of an entrepreneur is one who organizes a business or develops an idea and takes responsibility for its operation, its profits and its losses.

Various Types of Entrepreneurs

An entrepreneur may be a home-based entrepreneur that operates a small business out of his or her home, an online or Internet entrepreneur who operates business primarily over the web, or a mogul like Steve Jobs or Bill Gates, who started small businesses only to have the flourish into multi-billion dollar corporations.

Entrepreneurs may also consist of inventors, like Thomas Edison, who develop and patent an idea to profit from its usage and applications by others.

Another type of entrepreneur is the serial entrepreneur - one who starts a business, sells it and then starts another one, or one who starts or owns multiple businesses at the same time.

The Mind of an Entrepreneur

Many would argue that entrepreneurial drive is a trait that's acquired at birth, while others disagree and believe that anyone can become an entrepreneur if he or she is so inclined. Essentially, entrepreneurs are considered independent thinkers who dare to dream and believe that they have the ability to succeed. Self-confidence and determination are characteristics of nearly all successful entrepreneurs.

Pronunciation: ahn tra preh noor, ahn tra pren your
Also Known As: sole proprietor, businessperson, one-person operation
Alternate Spellings: none
Common Misspellings: entrapranure, entreprenure
Examples:
She was a natural born entrepreneur. She had great ideas that her entrepreneurial mind just had to test in the real world, so she was always taking risks but accepted responsibility for her successes and failures and in the end she was very successful and became named Entrepreneur of the Year several times in her local community.
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