How to be A Successful Entrepreneur

Abstract

The term entrepreneur appears to have been introduced by Richard Cantillon, an Irish economist of French descent, in early 1700. According to Cantillon's original formulation, the entrepreneur is a specialist in taking on risk. He insures workers by buying their products (or their labor services) for resale before consumers have indicated how much they are willing to pay for them. Entrepreneurship thus calls for a gut feel for things, a gut feel for the future. Someone who can mix this feeling with leadership is a successful entrepreneur. As Colin Powell once said, “Leadership is the art of accomplishing more than the science of management says is possible”.