The word Entrepreneurship comes
from the 17th – century French word entreprendre, which refers to
individuals who “undertook” the risk of new enterprise. Early Entrepreneurs were also “contractors”
who bore the risks of profit or loss, and many were soldiers of fortune, adventures,
builders and merchants. Early references to the entreprendeurs spoke of tax
contractors – individuals who paid a fixed sum of money to a government for the
license to collect taxes in their region. Tax entreprenduers bore the risk of
collecting individual’s taxes. If they collected more than the sum paid for
their licenses, they made a profit; if not, they lost money.
Today, the definition of Entrepreneurship
includes more than the mere creation of a businesses; it also includes the generation and
implementation of an idea understanding this team concept is critical if you
wish to be successful Entrepreneur. The idea of a sole individual being able to
take on enormous risks, attempt innovations, leap without the appropriate
background researches, and succeed by working long hours and persevering at all
costs is no longer relevant in today’s global economy.
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