In Summary:
- The word “entrepreneur” derives from the French words entre, meaning “between”, and “prendre”, meaning “to take.” The word was originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new venture.
- There are two type of corporate entrepreneurship. First is entrepreneurial firm where they are proactive, innovative and brave enough to take risk. Compare to the other one, conservative firm being more passive. They like to wait and see first then take action.
- There are three main reasons why people want to be an entrepreneur which are desire to be their own boss, desire to pursue their own ideas and financial rewards. We can see four characteristic inside successful entrepreneur. Which are passions for the business, product or customer focus, tenacity despite failure and execution intelligence.
- There are five steps to become an entrepreneur. First, decide either we want to be an entrepreneur. Second, develop idea to produce product or do services by observe people’s problem. Third, moving from an idea to an entrepreneurial firm. Forth, manage and grow the firm and the last one is exiting the venture by pass the firm to children or sell to other people.