The word entrepreneur originates from the French word, entreprendre, which means “to undertake.” The concept of entrepreneurship has varied meanings.
- Entrepreneur is considered to be a person with high aptitude and risk-taking ability ready to make a change; and
- Entrepreneur is any person who wants to work for their own self, i.e., wants to start their own business enterprise.
Both these meanings are not co-related, however, they both form the meanings of an Entrepreneur.
Entrepreneurship is not just coming up with a great concept to start up a business. That is just a part of it. Successful entrepreneurship involves much more than just having a great idea or creating a new business venture. It is actually a mind-set that starts right from the beginning. It is a way of thinking and implementing your ideas. It is about generating new and innovative ways to resolve issues effectively, reach target audience in an affordable manner, and create market position with a steady pace, taking into consideration the availability of resources, changing demand patterns of the audience and most importantly the objectives and profits of the business.