A famous quote by the late Peter Drucker reads, “The best way to predict the future is to create it.” Per the New Merriam-Webster Dictionary an entrepreneur is a person who creates, organizes, and operates a business or businesses, taking on a greater than normal risk in order to do so. It is unknown who actually started the first business on the records but it stated to be in the year 527 AD when it was created. The details about the business are not specified either but it was solely resembled a funeral home. According to Forbes; a leading Internet media company, is among the most trusted resources for the world's businesses and investment leaders, in the last six years there are over thirty-eight million people who have become entrepreneurs and over twenty-two million businesses. Most entrepreneurs try to stress to aspiring entrepreneurs that being an entrepreneur is not a cakewalk, but instead can be quite tedious. Even though there are advantages and disadvantages of being an entrepreneur, the advantages usually outweigh the disadvantages. These advantages and disadvantages relate to the cash flow, freedom of time and flexibility of ones schedule, and potential networking opportunities.
Forbes sat down with some of the most successful entrepreneurs and they told the reporter that the best thing about their duties is the cash flow that their business brings them. One of the most successful entrepreneurs is Microsoft’s creator and owner Bill Gates, who brings in the most cash according to the Forbes 400 richest persons list. His name tops all the other names with a net worth of 77.8 billion dollars. As stated on dictionary.com a net worth is the amount by which assets exceed liabilities, which is usually used to determ...
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After having helped found what would be the world’s most popular and largest software company in 1975, Bill Gates officially found himself to be the richest man alive at the ripe, young age of only thirty-one. Gates had never imagined that the thirteen year old boy who loved to program computers in his parent’s garage would one day find himself to be considered the world’s wealthiest man alive, having a total net worth of $76 billion. Having began on his own, tinkering with computers and computer software, Gates later created the seed of Microsoft, or what was originally called Traf-O-Data in the summer of 1972. (Fast Facts) It wasn’t until two years later, with the help of his co-founder, Paul Allen that Microsoft was born, transforming the technological world in ways that the people had never seen. The birth of Microsoft changed the ways of old computers, making way for faster newer and more innovative technology, along with bringing on a strong competition with their rival company, Apple Inc. With this grand cooperation, Bill Gates was also accumulating a large mass of money, gradually finding himself to top the charts of the Forbes World Billionaires List. (Fast Facts) Despite being well known for his contributions to Microsoft, Bill Gates’ most profound impact on the American culture was in medical and educational advances provided by The Gates foundation, paralleled by his philanthropic views and aid in the lives of the both poor and wealthy.
Larry Ellison creator of the Oracle Corporation a 447.2-Billion-dollar multinational computer technology corporation, Mark Zuckerberg founder Facebook a 370-Billion-dollar social media service, and Warren Buffet founder of nothing. Among these three men who is the wealthiest? Shockingly, Warren Buffet is the richest with a net worth of 66.4 billion dollars. Warren Buffet utilized his investing acumen to go from a total net worth of twenty-thousand at twenty-one years of age to a total net worth of sixty-six billion at eighty-six years of age. He is not the only person who has been wildly successful on the shoulders of investing alone; men like Carl Icahn, Ronald Perelman, Mikhail Prokhorov, Philip Anschutz, and Harold Simmons are all
Schwarz, Alan. "An Entrepreneur Steps To The Plate." Newsweek 142.13 (2003): E26-E28. Academic Search Complete. Web. 13 Nov. 2013.
Gates. There is a lot more to Bill Gates than being the richest man in
For entrepreneurs whom are willing to accept the risk associated with starting a business, some have made themselves extremely wealthy. Although our economy is focused on capitalism as a means of promo...
As the Entrepreneurship Institute (Entrepreneurship@King's) commends its one year commemoration, we examine the majority of its triumphs in the previous year and what's in store in the forthcoming year. Since Entrepreneurship@King's was built up a year prior, it has gone from quality to quality, reflected through its different effort exercises and exceptional accomplishments. The recompenses service for Entrepreneurship@King's' Lion's Den Challenge Start-up Competition occurred a week ago in the House of Lords. The Lion's Den Challenge is an activity which offers individuals from the King's group a chance to accept and develop their thought and business. In the number one spot up to the start-up rivalry there were a few business workshops and
An entrepreneur is someone that starts up their own business. Mark Zuckerburg became an entrepeneur because of his social networking site called Fackbook. It all started in his college dorm in 2004 at Harvard University. He made a website called Facesmash for Harvard students only. This site let you vote on which two students from Harvard were “Hot or Not”. Then he started making “TheFacebook”, which was the name of facebook when it started.Soon he soon changed it to just “Facebook”. A man named Peter Theil was the first to invest in the company for 10.2% of the company. Zuckerburg branched out to more private schools, then next thing you know the site was all over the U.S. They made their money by letting ads be on the site. The companies pay facebook to put ads on the site, then Facebook makes money. The company went public in 2012 to the stocks. This was big. They would make even more money. It was risky, but Zuckerburg did it.
In my assignment I will be focusing on Pat McDonagh. Pat who is from Kilimordaly in County Galway is one of Ireland’s most successful entrepreneurs. The main reason I have picked him for my assignment is because I admire all the employment he has pumped into Irelands recovering economy and also our local economy as he would be considered a local man where I come from and live. I believe he is the perfect example of what an entrepreneur should be as he is not afraid to get involved, is never satisfied and on top of this is very passionate about what he does. Pat, who has a name for being Galway's most prominent businessmen, was named as the Galway Association of London's Person of the Year back in 2013.
Boone, L. E., & Kurtz, D. L. (2009). Contemporary Business (13 ed.). New York, NY: Wiley.
As industry liaison at the School of EEE at NTU, I facilitate industry partnerships and promote entrepreneurship within the school. In the coming months, we will be launching an entrepreneurship ...
"Before Silicon Graphics, Clark said a fortune of $10 million would make him happy; before Netscape, $100 million; before Healtheon, a billion; now, he told Lewis, 'Once I have more money than Larry Ellison, I'll be satisfied.' Ellison, the founder of the software company Oracle, is worth $13 billion."
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
Most successful entrepreneurs are have a passion for their product or service as well as a desire to solve a problem and make life easier, better, cheaper (10 Qualities of successful entrepreneurs, 2010). Their desire to be an entrepreneur is mostly due to in internal factor rather than an external such as money.
Majalah Niaga(2013); Super Entrepreneur Tip: Do not Ever Stop Trying- edition 26; available from [magazine] pp 30-32. Retrieved on 7 March 2014