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What is Entrepreneurship?
The definition of entrepreneurship is the process of starting a business or creating new markets.
An entrepreneur is someone who develops a business model, usually from scratch, but can also be someone who purchases a company to grow it.
A serial entrepreneur is someone who develops multiple business strategies and becomes a key component in business management.
Entrepreneurship development is the process of improving entrepreneurial skills.
Through training programs, such as entrepreneurship courses and online classes, one can learn about various requirements to become successful as an entrepreneur including conducting opportunity analysis, developing a business plan, starting a small business, acquiring financing to start the company, and scaling the business.
Many people wonder how to become an entrepreneur.
Taking an online course in entrepreneurship can provide skills and inspiration to get you on your way.
Many of the world’s top business leaders were entrepreneurs who started their business and became their own boss.
The list of famous male young entrepreneurs includes Steve Jobs (Apple), Mark Zuckerberg (Facebook), Bill Gates (Microsoft), Richard Branson (Virgin), Jack Ma (Alibaba), Elon Musk (Tesla, SpaceX), Jeff Bezos (Amazon).
Become an Entrepreneur:
Taking an entrepreneurship course on edX can sharpen your skills and determine if pursuing a masters in entrepreneurship is the right path to choose.
EdX has many classes to help you better understand entrepreneurship.
Some courses discuss how to come up with an idea, how to discover innovative products, understand economic development, learn about financial risk, and how to assess opportunities.
What are the Qualities, Characteristics, and Traits of an Entrepreneur?
Many business creations happen because someone is trying to solve a need and they fall into entrepreneurship.
- Having a deep passion and or drive to complete something from start to finish is a common trait in many entrepreneurs.
If you find yourself staying awake at night because you think you can fix something even better, or if you daydream on ways to improve something, you may be an entrepreneur without realizing it.
- Risk-taking is not the same as being reckless when it comes to business owners.
- Entrepreneurs are also not afraid of failing.
- Being a critical planner is a common trait with entrepreneurship.
- Having an exit plan is something that all entrepreneurs have in their back pocket just in case.
The Pitfalls of Entrepreneurship:
According to Inc.com, we can expect that 96 percent of businesses fail within ten years.
If you look at Forbes, they claim a similar percentage by saying that eight out of every ten business fail.
Ways to Thrive as an Entrepreneur:
Successful entrepreneurs need to have the skills and determination to see their dream work.
Having the necessary resources at your disposal will keep your business venture alive as you go through the elements of a start-up business.
As an entrepreneur, you should tap into your network and reach out to other successful entrepreneurs to receive guidance.