Over the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting.
What exactly is an entrepreneur and how does it relate to small business expansion? There are many differing views on what makes someone worthy of this title.
Investorwords defines entrepreneur as “an individual who starts his/her own business.” In a general sense, the word applies to any person starting a new project or trying a new opportunity. However, this definition leaves out other essential characteristics of an entrepreneur.
Merriam-Webster Online defines entrepreneur as "one who organizes, manages, and assumes the risks of a business or enterprise.” This definition is definitely richer, but still lacks the sense of innovation and creativity that defines a true entrepreneur.
Dozens of definitions exist, but none are comprehensive. Entrepreneurship involves uncovering an opportunity to create value, transforming knowledge into new products, and bringing them to the market. It is an entrepreneurial mindset that will make the difference in small business expansion. Success in entrepreneurship requires not only knowledge, but an acquired skill in the process of creating something new. Starting with practically nothing, an entrepreneur is one who organizes a new venture, manages it, and also assumes the associated risk.
“an innovator of business enterprise who recognizes opportunities and is not afraid to act.”
- StrongBusinessCredit defines entrepreneur
Being an entrepreneur is about having a certain mindset, tendencies, and personality traits such as team building skills, persistence, selling skills and a very low tolerance for mediocrity. An entrepreneur won’t flinch while accepting financial risk and undertakes new ventures with a positive attitude. Entrepreneurs are spontaneous, creative, eager for continued learning, and willing to make difficult decisions in the absence of solid data.
http://www.24-7pressrelease.com/press-release/no-loans-when-you-need-them-96395.php Ilya BodnerSmall Business Owner
Initial Underwriting Group
- Related Videos
- Related Articles
- Ask / Related Q&A
CoSHH Risk Assessment - Safely Storing Chemicals
By: Dale Allen | 17/12/2009Do you ever wonder how chemicals should be stored safely? This article hilights the importance of storing chemicals in the workplace, in a safe and organised manner in accordance with COSHH regulations. It helps you understand how to protect your workers health and limit exposure to chemicals.
Employment Tax Compliance: Reimbursed Business Expenses Investigated
By: KevinThorn | 17/12/2009Employment Tax Compliance of businesses reporting on Reimbursed Business Expenses is one of four major areas being randomly audited by the new IRS initiative to close the gross tax gap are focusing on.
MLM Skills Training - The Lost Art Of Building Credibility
By: Larry Beacham | 17/12/2009The most popular knock against the network marketing industry is the "get rich quick" mentality which is contantly perpetuated by amateurs who don't understand the science of building through credibility. Read this article to glean the time tested secrets of the world's greatest network marketers' strategies for building credibility.
Do I Need to Liquidate Merchandise, Close My Retail Store or Restructure My Business
By: Lee Hiller | 17/12/2009Rising unemployment and lower than expected sales figure over the traditional holiday shopping season will leave many retailers seeing red. Questions such as “How do I close my retail store”, “I need to liquidate merchandise?”, and “What is a retail crisis manager?”, are now popular Internet search phrases. Once thriving retail businesses are closing at a staggering rate; leaving vacant stores in malls and city centered across the United States.
Bumper Stickers as Additional Marketing Tool
By: Muqtada Khalid | 17/12/2009The wonderful product of bumper stickers is a huge hit among the vehicle owners. They provide a great way for roadside marketing. There versatility allows them to be designed in many shapes and sizes so that they could be used by a variety of customers at their will.
What Leadership Isn’t
By: John Hersey | 17/12/2009There are many misunderstandings out there about what leadership is, and if you pay attention to them, you can harm your business in a serious way.
MLM Training Tips – The Pipeline Marketing Technique: What It Is And Why Your Business Can’t Go Another Day Without It
By: Larry Beacham | 17/12/2009MLM Gurus have an arsenal of techniques that give them an "unfair" advantage over the masses. Read this article on the #1 most coveted secret to putting 25 or more new reps in your downline without breaking a sweat.
Finding Backlinks in Your Own Back Yard
By: Allison Clarke | 17/12/2009If your like most internet marketers, you spend a lot of time and energy looking for linking opportunities. But in your searching are you overlooking quality links you can get in your own home town? Have you checked out the local chamber of Commerce? Local or regional business groups are...
TURNING CHAOS INTO ORDER
By: Ilya Bodner | 14/12/2009 | BusinessWhen it comes to running a small business effectively, nothing is ever as it seems.
GIVE CUSTOMERS WHAT THEY WANT
By: Ilya Bodner | 30/11/2009 | BusinessFinding out what customers want, and then setting out to meet their needs, provided it can be done at a profit, is what helps prevail in the marketplace.
TIME TO MARKET
By: Ilya Bodner | 16/11/2009 | BusinessWho is willing to dedicate the time and hard work necessary to properly market your small business to the right people?
THE SPIRIT OF EXPANSION
By: Ilya Bodner | 11/11/2009 | BusinessWhat exactly is an entrepreneur and how does it relate to small business expansion? There are many differing views on what makes someone worthy of this title.
TRACKING SOFTWARE
By: Ilya Bodner | 04/11/2009 | BusinessSmart businesses use computer-tracking software for just about everything.
BILLABLE HOURS
By: Ilya Bodner | 27/10/2009 | BusinessWhile the term “billable hours” is most commonly associated with law professions, this concept should be used by all business owners.
WORKING SMART VS. WORKING HARD
By: Ilya Bodner | 28/09/2009 | BusinessMany people associate working long hours with working hard. As a business owner, you might pat yourself on the back after a long, hard day at work.
PLANNING FOR THE SLOW TIMES
By: Ilya Bodner | 17/09/2009 | BusinessIt’s important to remember that all businesses have downtime. There are periods when business is slow no matter how much you advertise. Your business may be operating seasonally, such as concession stands at sporting events or neighborhood ice cream trucks.