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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 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 didnt 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 or so made enough money that he went back and bought the Starbucks franchise and continues to run the operations today The purpose of the
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