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Entrepreneur: Definition, Important and How to Become


Thousands of entrepreneurs embark on this journey determined to realize their vision and meet the needs they see in society. They are opening real businesses, launching tech startups, or introducing a new product or service to the market.

Definition of an entrepreneur


Entrepreneur is a French word meaning to pledge and pursue opportunities and meet the needs and desires of people through innovation and business start-up.

An entrepreneur implements a project, organizes it, raises capital to finance it, and bears all or a large part of the business risk.

In other words, entrepreneurship is the process of creating a new business. Entrepreneurship is one of the most important inputs and sectors of economic growth.

He/she is one of the responsible persons who can establish a company or organization.


What does an entrepreneur do?

The entrepreneur identifies a need that no current business is addressing and identifies a solution to that need.

Entrepreneurial activity involves developing, launching and marketing new businesses, often with the end goal being to sell the company for a profit.

An entrepreneur who regularly launches and sells new businesses and then starts new businesses is a serial entrepreneur.

Additionally, although the term "entrepreneur" is often associated with start-ups and small businesses, any successful business founder with a family name started out as an entrepreneur.

Why is the entrepreneur so important?


Let's look at some of the most important reasons.

1. Entrepreneurs create jobs

Without entrepreneurs, jobs would not exist. Entrepreneurs take the risk of hiring themselves.

Their ambition to continue growing their business eventually leads to the creation of new jobs.

As their business continues to grow, more jobs are created.

2. Entrepreneurs Innovate

Some of the greatest technologies in today's society come from businesses.

Technological progress comes from the need to solve a problem, create efficiencies, or improve the world.

In periods of greater advances in technology, there is usually an entrepreneur to thank for it.


3. Entrepreneurs create change

Entrepreneurs dream big. So of course, some of their ideas are going to make a world difference.

They may create a new product that solves a pressing problem or take on the challenge to explore something that hasn't been explored before.

Many aim to make the world better with their products, ideas, or actions.

3. Entrepreneurs give to society

While some have this idea of the rich being evil and greedy, they often do more for the greater good than the average person.

They earn more money and therefore pay more taxes, which helps fund social services.

4. Entrepreneurs are some of the biggest givers

Donors to charities and nonprofits for various causes.

Some are seeking to invest their money in finding solutions to help poor communities access the things we take for granted, such as clean drinking water and quality healthcare.

5. Entrepreneurs add to national income

Entrepreneurship generates new wealth in the economy.

New ideas and improved products or services from entrepreneurs allow the growth of new markets and new fortunes.

How to become an entrepreneur


Starting a company can be one of the most rewarding, exhilarating and interesting opportunities you will ever have.

If you are aware of the risks and still unable to become an entrepreneur, use the following strategies and tips:

1. Find the right job for you

Entrepreneurship is a broad term, and you can be an entrepreneur in almost any field.

However, you will have to choose a field to work in and start working.

Find a job that will not only be successful, but something you are passionate about.

Entrepreneurship is hard work, so you want to focus your attention on something you care about.

2. Decide if you should get an education

You don't need any kind of formal education to be an entrepreneur, but that doesn't mean you should ignore education entirely.

If you want to start a technology company, experience in business, computer programming, and marketing can all be valuable.

Also, some industries are likely to require some type of education, such as your accounting firm or law firm.

3. Sell your idea

Consumers want products, but they don't always know which product to choose.

Your job as an entrepreneur is to convince people that whatever you sell is the best option available.

You will have to figure out what makes your product unique and then sell it based on the value it adds.

See: Entrepreneurship, Creativity and Innovation
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