An entrepreneur is a person who takes on the risks of starting a new business venture. Famous entrepreneurs discussed include Duncan Bannatyne, known for his business in hotels and health clubs from Dragons' Den, Lord Alan Sugar who made his fortune from Amstrad, and Sir Richard Branson who founded Virgin Records and Virgin Atlantic Airways. Traits of successful entrepreneurs include taking their work seriously, enjoying what they do, planning effectively, managing finances wisely, focusing on customers, and building a strong team.