Perhaps one of the best definitions is from Chris Oakley OBE, chairman of a successful British e-commerce company called Chapter Eight. His description is as follows:

‘An entrepreneur sees an opportunity, which others do not fully recognise, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way.’ He continues: ‘They are not diverted or discouraged by scepticism from ‘experts’ or from those from whom they seek backing and support, but are willing to weigh all advice and select that which will be most helpful.’

And in conclusion: ‘They are prepared not just to work seriously hard, but to back their judgement with personal investment at a level which will cause problems if they are wrong about the investment. They understand that achievements are the result of teamwork and know how to choose the necessary blend of talents and inspire them with their vision.’

Put simply, an entrepreneur is a self-made person who is willing to put their money where their mouth is. They are willing to take a calculated risk weighted in their favour. They are a team player and will use all available resources in order to make it happen.

Contrary to what some people say, entrepreneurship is an acquired characteristic. Entrepreneurs are self-taught and self-made – and anyone who is willing to recognise the characteristics needed to be an entrepreneur, and who is then willing to work at it, can become one. There are a range of characteristic entrepreneurial behaviours that you could choose to adopt to see where it takes you.