What Are the Major Functions of an Entrepreneur?
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Successful entrepreneurs are savvy risk-takers. They are the forces behind the formation of most businesses people would recognize. Steve Jobs of Apple was one of the most recognizable entrepreneurs of his time. He possessed a unique attitude to forge ahead no matter what obstacle stood in the way of his ideas. An entrepreneur takes on many roles, and a few major functions are shared by many.
Bring Visions to Life
Many entrepreneurs are also visionaries. They are able to clearly see how things could be different or improved and what paths to pursue to achieve these goals. Entrepreneurs take the visionary process one step further than just pondering, and they bring these visions to life. They are known for not taking "no" for an answer, and come up with solutions to problems where there seem to be no answers. They may be told by many groups of people that their business ideas are impossible, yet they still find a way to make them happen.
Raise Money & Support
A major function of an entrepreneur is coming up with capital. All of their new business ideas take funding, and without it many projects don't get off the ground. Therefore, entrepreneurs play a significant role in fundraising. Gathering resources doesn't just stop with money either. Entrepreneurs are also skilled at gathering human resources and getting people to support their ideas. They are adept at finding the best minds to work together toward reaching their goals.
Entrepreneurs also know what it takes to make money. Without showing an eventual profit margin, businesses fail and an entrepreneur will lose the supporters who backed his idea. Entrepreneurs have a wide focus of responsibilities, but ultimately can't lose their concentration on profit. They work with chief financial officers and budgeting committees to ensure that their products and services are cost-effective and poised to be lucrative.
A significant function of an entrepreneur is to be a risk-taker. Some people freeze in their tracks because of fear and obstacles and therefore never get new ideas off the ground. The nature of an entrepreneur puts new ideas into motion so they must overcome this fear. Entrepreneurs forge ahead and sometimes even risk parts of their personal lives for something they believe in, such as their own financial security. Whether entrepreneurs are born with an inclination to take risks or they grow into it, the combination goes hand-in-hand for success.
Based in the Midwest, Gina Scott has been writing professionally since 2008. She has worked in real estate since 2004 and has expertise in pop culture and health-related topics. She has also self-published a book on how to overcome chronic health conditions. Scott holds a Master of Arts in higher-education administration from Ball State University.
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