Entrepreneurship is difficult to spell and hard to pronounce, but it means job freedom, the ability to be independent, not having to answer to a supervisor, no one is watching, and the flexibility to conduct your day and spend your time in any way that you want to. You can be your own boss.
The term “entrepreneur” likely comes from the French word “entrepreneur,” meaning to start something. Richard Cantillon, an 18th-century Irish-French economist, is widely credited with defining entrepreneurship — and entrepreneurs — as an economic force that drives development.
The dictionary definition is one who organizes, manages, and assumes the risks of a business or enterprise.
The term “entrepreneur” has its origins in the French language. It is derived from the French word “entrepreneur,” which means “to undertake” or “to embark upon.” The word was first used in the 18th century by the French economist Richard Cantillon in his book “Essai sur la Nature du Commerce en Général” (“Essay on the Nature of Commerce in General”), published in 1755.
Cantillon defined an entrepreneur as someone who takes on financial risks by combining various factors of production to create and market new goods or services. He described entrepreneurs as individuals who identify opportunities, make decisions, and bear the uncertainty and risks associated with starting and operating a business.
The concept of entrepreneurship was further developed through the works of other economists, such as Jean-Baptiste Say and Joseph Schumpeter, who expanded on Cantillon’s ideas. Over time, the term “entrepreneur” has come to be widely used and recognized around the world to refer to individuals who start and manage businesses; innovate, and take risks in pursuit of economic opportunities.
In interviewing CEOs of successful entrepreneurial companies, there is a wide range of advice. One has to be highly focused on the idea, persistent, able to learn about the industry of endeavor, have a vision of how to offer something missing from the marketplace, and know how to get loans. Typically, entrepreneurs are driven and good communicators, place their focus on sales, generate sales, and produce the goods or services to the satisfaction of the customer.
An entrepreneur is swift on foot and flexible.