What Is Entrepreneurship

What is Entrepreneurship?
Entrepreneurship is the act of creating a business or businesses while building and scaling it to
generate a profit.
However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern
entrepreneurship definition is also about transforming the world by solving big problems. Like
initiating social change, creating an innovative product or presenting a new life-changing
solution.
What the entrepreneurship definition doesn’t tell you is that entrepreneurship is what people do
to take their career and dreams into their hands and lead it in the direction of their own choice.
It’s about building a life on your own terms. No bosses. No restricting schedules. And no one
holding you back. Entrepreneurs are able to take the first step into making the world a better
place, for everyone in it.
The meaning of entrepreneurship involves an entrepreneur who takes action to make a change
in the world. Whether startup entrepreneurs solve a problem that many struggle with each day,
bring people together in a way no one has before, or build something revolutionary that
advances society, they all have one thing in common: action..
1. Creative
Entrepreneurship starts with an idea. To be successful, you need to always be thinking of new
ideas and better ways of doing things.
In an interview in Martyn Lewis's book "Reflections on Success," Virgin Airlines founder Richard
Branson said, "I've gone into business, not to make money, but because I think I can do it better
than it's been done elsewhere. And, quite often, just out of personal frustration about the way it's
been done by other people."
Entrepreneurs are not satisfied with the status quo. They think outside the box and look for
opportunities to come up with new solutions.
2. Passionate
Perhaps the most important characteristic for entrepreneurs, passion is essential to any
business owner or working professional's success. Without passion, there is no reason for your
work and no drive to do it.
Entrepreneurs love what they do and are extremely dedicated to the businesses they create. To
be successful, you must be confident in yourself and your business, and you must be proactive
with what you do and how you do it.
3. Motivated
In an interview with The Computerworld Smithsonian Awards Program, the late Apple founder
Steve Jobs said, "I'm convinced that about half of what separates the successful entrepreneurs
from the non-successful ones is pure perseverance."
Because of their passion for their ideas, entrepreneurs are willing to put in the long hours and
hard work required to launch and run a successful new business. Are you self-motivated?
Entrepreneurs are their own boss, which means there's no one telling them to do things. You
must be in charge of your own time and how you spend it.
4. Optimistic
Do you see the glass half empty or half full? For entrepreneurs, it's always half full.
Entrepreneurs always look on the bright side and are constant dreamers. They look at how they
can do things better and make the world a better place. They never dwell on the past or the
negative. Instead, they focus on moving forward and moving up.
When they're confronted with challenges, entrepreneurs don't see them as problems; they see
them as opportunities. Challenges fuel entrepreneurs and make them reach higher and do
more.
5. Future-oriented
Because entrepreneurs are focused on moving forward, they are always looking toward the
future. Entrepreneurs are very goal-oriented and know exactly what they want. They set their
goals and everything they do is aimed at achieving those goals.
Having a strong vision helps propel you toward accomplishment. Consider setting a goal for
yourself - a north star that can guide you on your path to success.
6. Persuasive
To be successful in business, you have to know business. If you're a people person and know
how to get people to listen to you, you could be a successful entrepreneur.
Especially when first starting out, entrepreneurs need to gain buy-in from those around them on
their big idea. If it's an out-of-the-box idea, which it usually is, many people will be skeptical
before giving their support or investing any money. That's why entrepreneurs need to use their
persuasiveness to sell themselves and their ideas.
7. Flexible
According to professional development coach Ruchira Agrawal in an article for Monster, "As an
entrepreneur, you'll typically start out as a 'solopreneur,' meaning you will be on your own for a
while. You may not have the luxury of hiring a support staff initially. Therefore, you will end up
wearing several different hats, including secretary, bookkeeper and so on."
Entrepreneurs know how to adapt to unfamiliar situations. If their business requires that they
learn how to build a website or send an invoice, they'll do it. Whatever it takes, entrepreneurs
are ready and willing. They always approach things with an open mind and are willing to change
course if they need to.
8. Resourceful
In business, problems aren't a matter of if, but when. Entrepreneurs do not shy away from
challenges or conflicts. Instead, they face them head on and come up with a solution. They
know how to solve problems effectively.
Entrepreneurs also know how to make the most of what they have. Time, money and effort are
never used haphazardly. Everything has a plan and a purpose.
9. Adventurous
In an interview with Y Combinator president Sam Altman, Facebook founder Mark Zuckerberg
said, "In a world that's changing so quickly, the biggest risk you can take is not taking any risk."
Entrepreneurs know that to be successful, they must be willing to take risks. While they don't
mind walking on the wild side, they don't take risks lightly. They know how to plan for the
unknown and make a calculated decision that is best for them and their business.
10. Decisive
There is no room for procrastination in business. Entrepreneurs know what needs to be done
and don't hesitate to make the decisions that will lead them to success. They don't let
opportunities pass them by; instead, they seize the day and get the job done.
Entrepreneurship is classified in Nine Types;
Administrative Entrepreneurship.
Opportunistic Entrepreneurship.
Acquisitive Entrepreneurship.
Incubative Entrepreneurship.
Imitative Entrepreneurship.
Private Entrepreneurship.
Public Entrepreneurship.
Individual Entrepreneurship.
Mass Entrepreneurship.
Benefits of Entrepreneurship
1. The freedom to pursue your own vision.
2. The control and flexibility you have over your own time.
3. The opportunity to learn and gain knowledge.
4. The sense of pride and fulfillment in accomplishing things.
5. The confidence you gain in knowing that you can do it.

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What is Entrepreneurship?

1. The freedom to pursue your own vision.

3. The opportunity to learn and gain knowledge.

4. The sense of pride and fulfillment in accomplishing things.

5. The confidence you gain in knowing that you can do it.

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