What is an entrepreneur? An entrepreneur is an individual who creates new business activity in the economy. They can create this new business by introducing a new product or by creating a new market for an existing product. But there is a big difference in being just an entrepreneur, and being a highly successful entrepreneur. There are certain characteristics that an entrepreneur possesses and employs, which makes him successful. Self confidence and determination are two of these major characteristics. But just having a great idea and confidence may not be enough to succeed as a entrepreneur, some managerial competencies are needed in conjunction to make their product idea or service flourish into a business. Howard Schultz, chairman and CEO of Starbucks is a prime example of a successful and determined entrepreneur. He came across an idea and embellished on it, until it became a successful corporation.
Howard Schultz is a great example of a successful entrepreneur.
Entrepreneur of the Century
English: Starbucks' headquarters building in Seatt...
Starbucks Chairman Howard Shultz talks to the medi...Schultz was working as a Vice President of Hammarplast, a Swedish maker of kitchen equipment. He noticed that a small company in Seattle was ordering a lot of a particular style coffee maker, and he was struck with curiosity. Schultz went to Seattle and met with the three owners of this company, called Starbucks. Schultz was impressed with their four stores, and the fact that they could sell premium coffee to a fairly upscale, urban clientele. He thought that the idea of gourmet coffee stores could be a much bigger picture, a national franchise. After a lot of persistence and talking, and although they didn't agree with Schultz that the idea could be taken nationally, he was hired by the original owners to lead them. Schultz later left Starbucks to open his own chain of gourmet espresso bars, and after a year...