THE SPIRIT OF EXPANSION

            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 Bodner
Small Business Owner
Initial Underwriting Group