Defining Entrepreneur & Entrepreneurship
word entrepreneur is derived from the French word entreprendre, which
means to initiate or undertake. Entrepreneurs are skilled organizers of
IDENTIFY THE NEEDS
FOR PRODUCTS OR SERVICES.
GENERATE IDEAS ON
HOW TO PROVIDE THE NEEDED PRODUCTS OR SERVICES.
ANY OF THE IDEAS PRESENT A VENTURE OPPORTUNITY.
EVALUATE IDEAS AND
OPPORTUNITIES FOR DEVELOPMENT OF A VENTURE.
DEVELOP A PLAN OF
IMPLEMENT THE PLAN.
| DEFINING ENTREPRENEURSHIP
An entrepreneur is a person, while
entrepreneurship is a process. Entrepreneurship is:
A creative process
in which resources are organized and used in a venture that satisfies
both personal needs or wants and the needs or wants of others.
The realization of
an opportunity. The gathering of resources and the assumption of risks
in an attempt to make things happen in a creative venture.
of resources from one level of productive use to a higher level of use.
A creative human
The creation and
building of something of value from practically nothing.
The process of
creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Confidence in an
idea and a willingness to accept the hard work necessary for turning
the creativity of dreams into reality.
opportunities presented by change that others have not had courage to
controllable risks rather than gambling or relying on sheer luck.
Costs other than
money; time, energy, reputation, emotional drains.
recognizing realistic limits imposed by the economy or physical
understanding customers and their needs.
understanding of business and products or services.
interpreting business records.
Careful planing to
actions, strengths and weaknesses of competition.
location, and also right size and right price or lease rate for that
Building a team of
people with complementary skills and talents.
opportunities, while others see chaos, contradiction, and confusion.
controlling resources (often owned by others) to pursue the opportunity.
Having a vision
and than having the passion, commitment, and motivation to transmit
this vision to others (employees, partners, financial partners,
suppliers and customers).
A willingness to
take responsibility and ability to put mind to a task and see it
through from inception to completion.
| RELATED INFO
An Established Business
Product Or Service
How Customers Think: Essential Insights
into the Mind of the Market - Building on research from
diverse as neurology, sociology, literary analysis, and cognitive
science, Zaltman offers rich insights into what happens within the
complex system of mind, brain, body, and society as consumers
contemplate their needs and evaluate products. Zaltman illustrates how
leading companies are "mining the unconscious" - with remarkable
results, and introduces innovative tools & techniques that help
Tested Advertising Methods - A
legend in advertising for more than 60 years, John Caples still serves
as a guide to generations of creative marketing people. Now his classic
work on how to create successful advertising has been updated by
respected advertising consultant Fred Hahn. It retains all the clarity,
candid analysis, time-tested experience and invaluable award-winning
ideas from the original, while bringing it right up-to-the-minute on
the many new changes in the field.
* Develop research questions that speak to the unconscious brain.
* Evoke valuable meaning through a customer's metaphors and instill
those images in brand communications.
* Measure consumer reactions to marketing stimuli and alter advertising
or positioning strategies accordingly.
* Build "consensus maps" that reflect a market segment's universal
thinking-and reengineer them to boost customer satisfaction, loyalty,
* Understand how their own minds work-and how they can think in
creative new ways. The mind of the market is waiting to be explored.
Make sure your competitors don't get there first.