Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.
An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.
According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success.
Schumpeter discovered that they
greatly value self-reliance,
strive for distinction through excellence,
are highly optimistic (otherwise nothing would be undertaken), and
always favor challenges of medium risk (neither too easy, nor ruinous).
The entrepreneur had discovered a new market for her app and through proper investment and advertising was successfully generating capital for her investors.
After years of working to make his employers rich, Ken decided he wanted to try his hand at being an entrepreneur
After a short stint as an assistant baker, he decided to become and entrepreneur and invest all of his savings into his own gourmet bakery.