By: Rielee Achtemeier

What is an entrepreneur?

And entrepreneur is person who organizes and operates a business or businesses, and taking on great financial risks in order to do so. Anyone can be an entrepreneur if they're determined and set their mind to do something. It takes a certain breed of a person to become a successful entrepreneur.

Characteristics of an Entrepreneur

In order to be an entrepreneur, you must be brave, and have a determined mindset. You have to be willing to understand what you're getting yourself, and all the financial risks you are taking. Becoming an entrepreneur can make or break your life. You must also believe yourself, and give up easily. It may knock you down a few times, but that doesn't mean you should just completely give up on it. Lastly, you must be creative. Be creative enough to think of a new product or service that will satisfy peoples needs and/or wants.

How can you start a business and become an entrepreneur yourself?

Step 1: Write a Business Plan

Map out how you want your business to run and the rate you want to grow.

Step 2: Get Business Assistance and Training

Get help from someone who has experience.

Step 3: Choose a Business Location

In town? In the city? Determine the place where your business will be the most successful.

Step 4: Finance Your Business

Life savings, or bank loans. Also, investors could help you finance your business.

Step 5: Determine the Legal Structure of Your Business

Decide which form of ownership is best for you.

Step 6: Register a Business Name ("Doing Business As")

Register your business name with your state government.

Step 7: Get a Tax Identification Number

Learn which tax identification number you'll need to obtain from the IRS and your state revenue agency.

Step 8: Register for State and Local Taxes

Register with your state to obtain a tax identification number, workers' compensation, unemployment and disability insurance.

Step 9: Obtain Business Licenses and Permits

Get a list of federal, state and local licenses and permits required for your business.

Step 10: Understand Employer Responsibilities

Learn the legal steps you need to take to hire employees.