Entrepreneurs and entrepreneurship plays an important role in the economy, communities and individual people. An entrepreneur can be described as the “who” and is a person that identifies and developed ideas and turns it into a profit making business. Entrepreneurship can be seen as the starting of the business, being the entrepreneur. Entrepreneurship may be defined in many views according to those who provide them. An entrepreneur is someone that starts off with a dream or a vision in mind. An idea that motivates them so much that they spend all their time ND energy taking action and making that dream a reality.
They turn opportunities into a profit by providing a need or a service or something of value for the people of their community and society at large. Entrepreneurs start from scratch when creating their business and have to overcome many obstacles when starting off. A true entrepreneur is a innovator and creator and their passion will drive them to overcome their obstacles. Many entrepreneurs when starting their new venture will form a entrepreneurial team with people that has different talents and skills such as money who majored in finance, marketing or accounting and together they can form a business plan.
The road of an entrepreneur has many ups and downs and all businesses start out small, they don’t even have to be good at everything but they need to know what their strengths and weaknesses are. They must be able to communicate well and keep the rest of the team motivated through the tough times. They are gamblers and often risk losing their own money when starting their business. Entrepreneurship Is the result of the entrepreneur and therefore the action taking in pursuit of the new business venture.
They build the business up for basically nothing, which Is very risky and Involves a lot of factors such as physiological, technological, legal and more. Entrepreneurship causes economic development, Job opportunities and a wider choice to the communities as they Invent different and new products and services to choose from. In conclusion an entrepreneur Is a person that wants to start their own business. That process Is called entrepreneurship and entrepreneurship Is a practice and Is an abstraction whereas an entrepreneur Is tangible and Is a real person who makes things happen.