What is an entrepreneur?
An entrepreneur is an individual who starts a business, runs it and maintains its profitability.They identify a gap and aim to fill it whilst making a profit. An entrepreneur is also someone who runs a business and assumes all the risks and rewards of their business venture, idea or service offered. An entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.
An entrepreneur is someone who:
- Can identify a niche in the market - an entrepreneur can spot business opportunities that will fill gaps in the market
- Can identify key people to help achieve goals - nobody is an expert in everything
- Takes risks - even if you have carefully researched the market, there's always a chance that customers may reject your product or service
- Shows drive and initiative - if you are launching a business you need determination and energy to overcome any obstacles
- Is resilient - all entrepreneurs have failures and successes. Your ability to learn from mistakes and move on is key to the success of your business.
Starting a business can be challenging for many, but if you are passionate, motivated, a risk taker, hard worker, or believe in yourself you are likely to succeed in the business world. Before you start a business you should decide what type of business you want to establish.