Entrepreneur and Administrator

An entrepreneur starts and builds a business enterprise. He is the leader of the company, the chief executive officer. An administrator is someone who manages a department, division, or functional area within an organization. His job is to perform the tasks assigned to him as efficiently as possible and to meet all deadlines. An entrepreneur must have administrative abilities in the sense of being able to complete tasks efficiently, but an administrator does not have to possess the qualities associated with being an entrepreneur in order to succeed in his job.

Acceptance of Risk

An entrepreneur launching a business venture accepts the reality that the company may not succeed and he may lose the money he invested in it. In the company's early stages, it may not have the cash flow to allow the owner to pay himself any compensation, so he and his family have to live _________ _______ _______ ______ _______.
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