An entrepreneur is defined as someone who makes use of resources at his disposal, and undertakes risk to start and run an enterprise. The element of risk taking is quite central to the notion and concept of entrepreneurship. It is said that taking risk is the key part of an enterprise and the profits that an entrepreneur makes are the economic reward for the risk undertaken. People who are averse to taking risks are better off doing a regular job, as the element of risk in doing a job is considerably less. People in jobs get a salary, which is essentially their remuneration or compensation for performing a set of duties or a set of tasks that are included in the job description for their role.

If you were to ask what makes an entrepreneur, you will get a variety of answers dealing with the key attributes of entrepreneurs. The key attribute however, is to take risk, to venture into the unknown, and stick out their neck to try and accomplish the seemingly impossible. The potential payoffs can be breathtakingly spectacular if successful or mired deep in failure. That is the thrill and excitement that makes an entrepreneur tick. This is one reason why the element of risk taking ability ranks number one as the distinguishing feature of entrepreneurs. Entrepreneurs love challenges and are often proving a point to themselves more than any one else as they are seen to set high standards for themselves. If it were something easy and achievable, it would not call for entrepreneurial ability as there is no element of risk and novelty in easy tasks.

Take the example of Bill Gates. Starting from a garage to being the richest man in the world by a wide margin bears ample testimony to his abilities as he stuck his neck out and took the enormous risk of doing something new. But one must be also be sure that for one Bill Gates, there are thousands of unsung heroes who were bit by the entrepreneurial bug, but could not strike it big or rich. Being an entrepreneur takes grit, courage and strength of conviction. A lot of people start small, but their dreams are so clear and the way they chart beckons so strongly that they strive against all odds to come up winners. It is said, ‘winners never quit and quitters never win’. Entrepreneurs are those who persevere without quitting as they keep on achieving their pre-determined goals without their enthusiasm flagging due to obstacles along the way!