An entrepreneur can be any person who builds or operates a business, taking on a greater amount of risk than someone who is an employee of a business. Often, this entrepreneurial risk takes the form of financial risk, career risk, emotional risk, or overall business risk. An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits, fame, and continued growth opportunities. Those who fail, suffer losses and become less prevalent in the markets.
KEY 🗝 is A person who undertakes the risk of starting a new business venture is called and entrepreneur. An entrepreneur creates a firm, which aggregates capital and labor in order to produce goods or services for profit. Entrepreneurship is an important driver of economic growth and innovation. Entrepreneurship is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and innovation.
Since there is so much risk of failure when it comes to being an entrepreneur and growing a successful business, there are very specific skills that an entrepreneur needs to be successful.
KEY 🗝 is A great entrepreneur must be able to effectively communicate, sell, focus, learn, and strategize. An ability to continuously learn is not just a key entrepreneurial skill, but also a very valuable life skill. Growing a business requires a sound strategy based on inherent business sense and skills.
SourcesCoded By Natalia Pillgrim