What is an entrepreneur? According to the Business Dictionary (2014), an entrepreneur is a person who demonstrates initiative, takes risks, and is willing to pursue a project or mission that others might view as a threat or failure. An entrepreneur is usually the decision maker, sole proprietor, partner, or someone who owns a large portion of the organization's stock. Entrepreneurs typically determine the appropriate level of risk for certain businesses and control the amount of service that will be produced. (Business Dictionary, 2014) Entrepreneurs are found to be people who are creative, innovative, independent, optimistic, educated, spontaneous and with high self-esteem, willing to take financial risks, as well as monitor and control business activities. Entrepreneurs, through their innovative ideas and entrepreneurial opportunities, tend to play a vital role in the economy. Therefore, in this article we will focus more on entrepreneurs. One of them will explain the importance of feasibility study and business plan, where entrepreneurs can go for financing and what kind of short and long term planning would be required to achieve success. Additionally, an example of a business that started with humble beginnings and successfully flourished through proper planning will be provided. Planning a Start-up Business The word entrepreneur comes from the French word “entreprises” which means to launch or begin. The French use the word "entrepreneur" to describe a person who organizes or manages one or more organizations. The word was adopted and introduced into the English language by an Irish economist of French origin, Richard Cantillon who lived from 1680 to 1734. (Hayek, 1985) Richard Cant is said to...... middle of paper. .. ...service, great food and continues to attract more and more customers. Therefore, this once small and humble company has achieved a great level of success through its good planning, management, humility and strategic planning which manifests itself in great customer satisfaction. References Business Dictionary (2014), Business Dictionary copyright 2014 Web Finance, Inc. Retrieved March 13, 2014 from http://www.businessdictionary.comHayek, Friedrich A. (1985). Richard Cantillon. Michael O. Suileabhain, trans. Fall 1985. Library of Economy and Freedom. Retrieved March 13, 2014 from the World Wide Web: http://www.econlib.org/libraryRivera, Lesonsky (2010). Start Your Own Business: The Only Start-Up Book You'll Ever Need (5th ed.). Entrepreneur Media Inc. Schermerhorn, J.R. (2013). Management. (12th ed.). New York, New York: Wiley & Sons