An entrepreneur is a person who has

possession of a new enterprise, venture or

idea and assumes significant accountability
for the inherent risks and the outcome.[1][note 1]
The term is originally a loanword from French
and was first defined by the Irish economist
Richard Cantillon. Entrepreneur in English is a
term applied to the type of personality who is
willing to take upon himself a new venture or
enterprise and accepts full responsibility for
the outcome. Jean-Baptiste Say, a French
economist is believed to have coined the word
"entrepreneur" first in about 1800. He said an
entrepreneur is "one who undertakes an
enterprise, especially a contractor, acting as
intermediatory between capital and labour.

Entrepreneurs choose a level of personal, professional or

financial risk to pursue opportunity.
Entrepreneurs tend to identify a market opportunity and
exploit it by organizing their resources effectively to
accomplish an outcome that changes existing interactions
within a given sector.
Business entrepreneurs are viewed as fundamentally
important in the capitalistic society. Some distinguish
business entrepreneurs as either "political entrepreneurs"
or "market entrepreneurs," while social entrepreneurs'
principal objectives include the creation of a net social
benefit.
Other entrepreneurs are necessity entrepreneurs.
Entrepreneurship, particularly among women in
developing countries (Minitti, 2010) seems to offer an
improvement in the standard of living as well as a path
out of poverty. Entrepreneurship is now growing at nearly
three times the rate among women as it is among men.
Entrepreneurship is the act of being an entrepreneur,
which is a French word meaning "one who undertakes
innovations, finance and business acumen in an effort to
transform innovations into economic goods". This may
result in new organizations or may be part of revitalizing
mature organizations in response to a perceived
opportunity. The most obvious form of entrepreneurship
is that of starting new businesses (referred as Startup
Company); however, in recent years, the term has been
extended to include social and political forms of
entrepreneurial activity. When entrepreneurship is
describing activities within a firm or large organization it
is referred to as intra-preneurship and may include
corporate venturing, when large entities spin-off
organizations.[1]
According to Paul Reynolds, entrepreneurship scholar and
creator of the Global Entrepreneurship Monitor, "by the
time they reach their retirement years, half of all working
men in the United States probably have a period of self-
employment of one or more years; one in four may have
engaged in self-employment for six or more years.
Participating in a new business creation is a common
activity among U.S. workers over their course of their
careers." [2] And in recent years has been documented by
scholars such as David Audretsch to be a major driver of
economic growth in both the United States and Western
Europe.
QUALITIES AND TRAITS OF ENTREPREN
Being an entrepreneur is about more than just
starting a business or two, it is about having attitude
and the drive to succeed in business. All successful
Entrepreneurs have a similar way of thinking and
posses several key personal qualities that make
them so successful in business. Successful
entrepreneurs like the ambitious Richard Branson ,
dirubhai ambani who have an inner drive to succeed
and grow their business.
Entrepreneurs are persevering, are lovers of
challenges, are action oriented and are quick
to learn, and adopt techniques to perform
better as well as improve their business. They
are independent extroverts who have the
ability to lead people, manage them
effectively, and steer their business toward its
success. They are intelligent and able to
utilize their skills, time, resources, and energy
effectively. They are emotionally stable and
healthy. They set reasonable, realistic goals
and determine the ways to achieve the goals
without fuss, have good communication skills
as well as the ability to judge people and trust
them accordingly. They have business
acumen even without attending any business
school and have the right instinct to make the
right decision at the right time. They have the
ability to make maximum use of the available
resources and do not fear failure and are able
to solve problems and seek solutions to
existing problems easily.

Inner Drive to Succeed

Entrepreneurs are driven to succeed and expand
their business. They see the bigger picture and are
often very ambitious. Entrepreneurs set massive
goals for themselves and stay committed to
achieving them regardless of the obstacles that get
in the way.

Strong Belief in themselves

Successful entrepreneurs have a healthy opinion of
themselves and often have a strong and assertive
personality. They are focused and determined to
achieve their goals and believe completely in their
ability to achieve them. Their self optimism can often
been seen by others as flamboyance or arrogance
but entrepreneurs are just too focused to spend too
much time thinking about un-constructive criticism.

Search for New Ideas and Innovation

All entrepreneurs have a passionate desire to do
things better and to improve their products or
service. They are constantly looking for ways to
improve. They're creative, innovative and
resourceful.

Openness to Change
If something is not working for them they simply
change. Entrepreneurs know the importance of
keeping on top of their industry and the only way to
being number one is to evolve and change with the
times. They're up to date with the latest technology
or service techniques and are always ready to
change if they see a new opportunity arise.
 Competitive by Nature
Successful entrepreneurs thrive on competition. The
only way to reach their goals and live up to their self
imposed high standards is to compete with other
successful businesses.

Highly Motivated and Energetic

Entrepreneurs are always on the move, full of
energy and highly motivated. They are driven to
succeed and have an abundance of self motivation.
The high standards and ambition of many
entrepreneurs demand that they have to be
motivated!
Accepting of Constructive Criticism and
Rejection
Innovative entrepreneurs are often at the forefront of
their industry so they hear the words "it can't be
done" quite a bit. They readjust their path if the
criticism is constructive and useful to their overall
plan, otherwise they will simply disregard the
comments as pessimism. Also, the best
entrepreneurs know that rejection and obstacles are
a part of any leading business and they deal with
them appropriately.
True entrepreneurs are resourceful, passionate and
driven to succeed and improve. They're pioneers
and are comfortable fighting on the frontline The
great ones are ready to be laughed at and criticized
in the beginning because they can see their path
ahead and are too busy working towards their
dream.

o Leadership: An entrepreneur is a natural leader with the

vision and the drive to do things right and steer his
company toward success with ease.
o Confidence: He has to be self-confident, confident in his
plans as he has carefully researched them and has
mastered the skills necessary to implement them
carefully.
o Energetic: They have amazing capacity for hard work
and are energetic, motivating those that come in contact
with them on account of their drive and determination.
o Creative And Innovative: This will be an essential
criterion to design and sell products that are interesting
which offer several benefits and have a competitive edge,
making sure they capture the target market on launch
without much difficulty.
o Organized: Entrepreneurs have to be highly organized
and systematic, making it possible to achieve things in a
much shorter time. The ability to deliver anything that has
been promised on time and the ability to stick to
schedules are necessary for a person to be a successful
entrepreneur.
o Have Trouble Being Subordinates: They usually are
strong-willed and have trouble working under someone
else.
o Highly Competitive: They are very competitive and will
strive offer better services and products than the
competition.
o Will Not Hesitate To Take Risks: Risks are part of any
business, and a successful entrepreneur will have the
knack of taking calculated risks that will only benefit the
business.
o Will Not Hesitate To Seek Help When Necessary: They
will hire necessary staff to help them in areas where they
are not very confident.
Dedication. Self direction is the "oomph" that gets
something off the ground, dedication is the "nose to the
grindstone" attitude that can stick with something during
the good times and the bad. It's easy to start something up
if it runs smoothly and successfully right from the
beginning, it's quite another thing to start something and
stick with it during a rocky start because you are
dedicated to the project.

Risk taker. It's no secret that owning a

business involves risk. Those risks can be
minimized through careful planning but they
will always be there. If you embrace risk as a
part of life and know that you can weather the
storms and manage risks that come your way,
you may possess this quality.
 oundless
b energy Starting a business is a lot of work.
In the early days and months, you'll probably be the first
person there in the morning and the last one mopping the
floor at night after everyone goes home. You may not get
a lot of sleep but you still have to be alert to solve
problems and deal with customers on a continuous basis.
 A quick study. Do you learn quickly? Are you a
problem solver? Business plans help you to create
proactive strategies to succeed in your business but the
reality is that you'll still be making decisions on the fly
and reacting to situations that arise throughout the day.
Can you look at a situation quickly and determine what
you know, what you need to learn, and how you can solve
the problem?
Be goal-oriented, accountable and
disciplined. Knowing where you’re going is
the first step to achieving your dreams, and a
clear vision and plan will help you reach them.
Even as conditions change in and around your
business, always have a target that directs
your daily actions and take consistent and
regular steps toward actually reaching it.
Have people and tools in place to keep you on
track, whether that’s regular check-ins with
an accountability partner or weekly reviews to
see where you stand, and remember that, at
the end of the day, the buck stops with you.
No matter what your schedule or approach,
you must be disciplined and steadily move in
theBe adaptable, resilient and determined. Change is inevitable, and there will be plenty
of times when you’ll need to correct course and modify your plans so that your business isn’t left
behind. Be ready and willing to accommodate changes in the marketplace and be careful not be
so rigid that you miss opportunities for growth and improvement. In addition to being adaptable,
it’s important to be OK with failure. “Fall seven times, get up eight,” as the proverb goes.
Mistakes and failure come with the territory of being a successful entrepreneur, and if you’re not
making mistakes, you’re not putting yourself out there enough. Being in business for yourself
will push you to the breaking point sometimes, so you’ll have to be determined and remind
yourself how far you’ve come. Find support through other entrepreneurs and small business
owners who can help you through difficult times and challenges. It takes a great deal of
commitment and dedication to see a business to success, but if you stick with it, you will
eventually get there.

 Be creative and open-minded. Solving problems, promoting your businesses, and

expanding into new markets will require a good dose of creativity and imagination. Without it,
every setback and obstacle will seem insurmountable. Look for possibility everywhere. Think of
how other industries deal with issues you are facing and find ways to adapt those solutions to
work for your business. Stay flexible, make room for a variety of possibilities, and believe that
there’s always a way.
 Be confident and optimistic. You’ll come across plenty of naysayers along your way to
success, so it’s important to become very selective with your hearing and about whose advice
you seek. Find mentors and other big thinkers who you can call on for inspiration and advice,
and most importantly, believe in yourself and your abilities.
 Be persistent. There will be plenty of times when you just have to stick with an idea long
enough for it to take hold. It takes patience and a whole lot of the same thing over and over to
finally make progress.
 Be an avid learner. So much can be learned from the experience of others, and fortunately,
there are thousands of books out there from entrepreneurs who have achieved success, many
available for free at your local library or inexpensively through book-trading sites like
PaperBackSwap. One new book every two weeks is over two dozen by the end of a year!
 Be ambitious and driven. Without motivation, it will take a lot to justify the hard work and
time required to get a business off the ground. No one should care more about your success than
you, and if you’re not driven to achieve your goals, every obstacle will provide the perfect
opportunity to quit.
 Be a self-starter. Neither your mom, your teacher, nor your boss will be there to make sure
you show up and do the work for your business, so you have to be self-starting, making sure that
you have regular, dedicated time to move the big rocks each day.

 Be passionate. Above all, you should be passionate about your work. It’s a choice to go into
business, so why not choose something you love to do? There’s no reason to dread starting a new
day, so find something you’re passionate about and build your business and life around it.
Dhirajlal Hirachand Ambani, (Gujarati: ધીરભાઈ અંબાણી) also known as Dhirubhai, 28
December 1932, - 6 July 2002, was an Indian rags-to-riches business tycoon who founded
Reliance Industries in Mumbai with his cousin. Ambani took his company (Reliance) public in
1977, and by 2007 the combined fortune of the family (sons Anil and Mukesh) was 60 billion
dollars, making the Ambani's the second richest family in the world, next to the Walton family.
Dhirubhai has been one among the select Forbes billionaires and has also figured in the Sunday
Times list of top 50 businessmen in Asia.[1]

Dhirubhai started off as a small time worker with Arab merchants in the 1950s and moved to
Mumbai in 1958 to start his own business in spices. After making modest profits, he moved into
textiles and opened his mill near Ahmedabad. Dhirubhai founded Reliance Industries in 1958.
After that it was a saga of expansions and successes.

Reliance, acknowledged as one of the best-run companies in the world has various sectors like
petrochemicals, textiles and is involved in the production of crude oil and gas, to polyester and
polymer products. The companies refinery at Jamnagar accounts for over 25% of India's total
refining capacity and their plant at Hazira is the biggest chemical complex in India. The
company has further diversified into Telecom, Insurance and Internet Businesses, the Power
Sector and so on. Now the Reliance group with over 85,000 employees provides almost 5% of
the Central Government's total revenue.

In 1986 after a heart attack he has handed over his empire to his two sons Anil and Mukesh. His
sons have helped Reliance to grow in a more globalized world after 1991.