The American Heritage Dictionary defines an entrepreneur as, " a person who organizes, operates, and assumes the risk for a business venture."
In its original French, it means, "to undertake." Regardless of its origins, the word has come to universally define a person who risk resources to create new products and services and hopefully- a profitable business.
Throw the word out to a group of people, and they are likely to respond with examples of entrepreneurs that range from Henry Ford and J. Paul Getty to Bill Gates and Richard Branson.
They may even cite a family member or the owner of a business down the street.
Driving the Global Economy
Entrepreneurship is the backbone of the global economy ad continues strong annual growth. In New Zealand alone there's more than 500,000 businesses.
So what are the qulities of a successful entrepreneur?
"The entrepreneur mindset is a combination of persistence and gumption, because when you get knocked down, you have to have the ability to get back up again," ActionCOACH New Zealand Master Licensee Alan Edelmann said.
" That person also has to have a good deal of optimism, integrity, ideation, innovation and ingenuity."
Qualities for Success
Edelmann also adds it helps to have good mentors, the ability to dream and be visionary, as well as consideration, gratefulness and humility.
"All of these things drive from persistent idea that there "is nothing else I'd rather be doing," he said. "It's a need that is much deeper than a wish and stronger than a desire. People who go into business and who are the most successful are almost internally compelled to be on their own building for themselves."
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