Now days, everyone, whether in schools, college, or even government are also promoting for entrepreneurship. Peoples are getting encouraged to be an entrepreneur and start their own entrepreneurship.
Also, with the increase in employment demand, there is reduction in employment. This is driving most of the youngsters towards entrepreneurship. But the question arises, what entrepreneurship is? What is entrepreneur? And what do they do?
Here in this guide, we are going to learn what is entrepreneur? What do the entrepreneur do?
What is Entrepreneur?
An entrepreneur can be defined as the person who analyses the demands in the market place and then in order to fulfill the required demands, comes up with an unique and an innovative idea.
An entrepreneur are those who willingly takes risks and introduces something new in the market for the products the market is in demand for. They implement their innovative idea in reality, launch their unique product in the market, and take full responsibility for either the success or the failure of the business.
Entrepreneurs are those who are ready to bear most of the risk and create new business, launch their new innovative products and create new employment. They are the one either to enjoy all the rewards or bear all the risks. Those who set up new business are known as entrepreneur. They in the society are often seen as innovator, and a source of new innovation, new idea, goods, or services.
What is the role of entrepreneur in the market?
Entrepreneur plays a major role in the society with their innovating mind and creative ideas. They implement their innovation, execute their plans, and launch the products or the services that market is in need for.
With their skills, and creative ideas, they innovate new ideas to market and enjoy success by taking risks of building a startup.
What does an entrepreneur do?
The entrepreneur with an ultimate motive to earn financial profit and fame, they innovate new ideas, implement them in their plans, execute their plans and market. They are in every field whether it s designing, production, market, or any other field. Entrepreneur can be seen every where in every field. Even the coca cola, Facebook, Microsoft, Amazon, McDonald’s are some examples of entrepreneur.
Entrepreneurs are doing range of work from operating and owing a small business or small shoe store to a simple tea stall with a theme. All they provide is simple but in a innovative way in order to attract more and more customers.
Modern days’ entrepreneur are now days more smart and are using the best of the internet for both the promotion of their startup or for making the online use of the internet.
Since, entrepreneurs owns their own business and are their own boss, the craze for staring the start up and being an entrepreneur is increasing every day. People are stepping more towards the entrepreneurship and comes up with an innovative idea to prove themselves in the society or in the world.
Along with so many benefits, the entrepreneur is the one who takes all risks, bears losses in the case of failure and faces a fair amount of stresses as well. But with proper planning and proper functioning, the entrepreneurship ar generally fulfilling and rewarding.
Though in the starting, you might need to put some extra efforts. Might be you will be the one to come first to the office and the last one to leave the office with less break and more work. More often, you might need to put some extra hours and sacrifice many of your weekends and vacations in order to conform that the business and the organizational operation is running smoothly. But in the last, it will pay you. You are one liable for all rewards. Along with financial benefits, you will get fame, and power as well.
What an entrepreneurship needs is determination, initiation, and lots of hard work. Also, there is requirement for confidence, independence, better communication skills, creative brain, confidence to take initiation, and tenacity.
Also, the entrepreneur need to be socially active and must be aware of the new technologies and digitalization. He should know the tactics of social promotion and digital marketing in order to increase the online present of their start up.
Along with this, the most important which an entrepreneurship requires s patience. In the first, you might not be having any customer and fund raiser. You might need to make cold calls a day and write hundred of emails for finding clients and investors. But be patient and work continuously until success.
Entrepreneurs are not only businessmen but are of several kinds. In general, there is stereotype that entrepreneurs are those who are having their business and works in business field only. But, in actual, there are many more entrepreneurs who are bringing new innovative ideas in social as well as lifestyle field and many other fields as well. These are:
Business entrepreneur: Business entrepreneur are those who comes up with an innovative idea in a business world. Generally, the business idea that a entrepreneur comes up with are unique and new which has never been in the market or is having some improvement from the previous ones.
Social entrepreneur: Social entrepreneurs are those who create innovative ideas for social improvements. They make plans to make positive social changes, solve several social problems, and create social awareness.
Lifestyle entrepreneur: These entrepreneurs are those who make their hobby their career. These kinds of entrepreneurs make their hobby their career whether it is sports, or fashion or anything other for which they are passionate of.
The bottom line
So these is a complete guide on entrepreneurs, what they work, their role in the society.