An entrepreneur is an individual who accepts financial risks and undertakes new financial ventures.
Many societies place great value on the entrepreneur. To encourage their activity, they may be offered access to inexpensive capital, tax exemptions and management advice. An entrepreneur has the greatest chance of success by focusing on the market niche either too small or too new to have been noticed by established business.
Characteristics of an entrepreneur include spontaneous creativity, the ability and willingness to make decisions in the absence of solid data, and a generally risk-taking personality. An entrepreneur may be driven by a need to create something new or build something tangible.
Entrepreneurial Vision
Entrepreneurs must have a vision of where they want their company to be in the future. In addition, the entrepreneur must be able to communicate this vision in an exciting manner to employees and investors, so that they share the vision and are motivated to help achieve it.
Unlike a business plan, a vision doesn’t provide a specific roadmap for a business. Rather, a vision paints a picture of what the organization strives to become in the future.
A leader with a strong vision motivates the team to achieve this picture, regardless of the action plan that will be employed.
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