What Makes A Successful Entrepreneur? Essay

931 Words Aug 7th, 2016 4 Pages
"Entrepreneurship is much broader than the creation of a new business venture, At its core, it is a mind-set-a way of thinking and acting. It is about imagining new ways to solve problems and create value."(Entrepreneurship?, 2016) For many years I had a limited idea about starting a business. I imagined tech geniuses with Masters degrees, while at the very same time i pictured small business owners opening up their shop doors on West Street. Through books and the internet my knowledge on what makes a good entrepreneur has been insightful, and life altering to say the least. Before getting to the details of what makes a successful entrepreneur, i would like firstly address the differences between starting a business and an entrepreneurial venture.
Differences between starting a business and starting a entrepreneurial venture
The following is a few of the primary differences between small businesses and entrepreneurial ventures;(Seth, 2014)
⦁ Small business usually deal with known and established products & services, Entrepreneurial Ventures are for new innovative offerings (Seth, 2014)
⦁ Small businesses aim for limited growth and continued profitability with Entrepreneurial Ventures target rapid growth and high productivity returns(Seth, 2014)
⦁ Small businesses deal with known risks; Entrepreneurial Ventures take deep dive with lots of unknown risks (Seth, 2014)
It can be seen from the above that an Entrepreneur is a person who begins and runs a business with…

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