Entrepreneurs in Business

Picture an entrepreneur. Most commonly, successful and immensely innovative billionaires such as Bill Gates, Warren Buffet, or Jeff Bezos come to mind. Although these high achievers are the most notorious entrepreneurs, the qualifications to be considered one is less complex. An entrepreneur is defined as a risk-taker who operates a business.

In any place where there are people, there are entrepreneurs. Entrepreneurs are the founders of small businesses. Small businesses classify as any business that has less than 1,500 employees. Although they do not dominate the industry, small businesses build the community. 95% percent of all businesses in the United States are deemed as small businesses. This means that a lot of what consumers buy is sourced from start-up entrepreneurs.

These risk-takers manage to not only benefit the community but receive personal gain. New products are only made possible through entrepreneurship. Without the person to take a leap of faith in an attempt to make a new product, there would be no modern products and society would be delayed. Entrepreneurs were the ones to invent the personal computer, pens, and even video games.

Although small businesses have few employees, they provide a multitude of jobs for people. In the most recent years, employment for small businesses have been on the rise as compared to large franchised companies. In fact, 47.5% of people are employed by small businesses. It is crucial to remember that entrepreneurship makes this working opportunity possible. Arguably, without these businesses, unemployment could be on the rise.

In addition, entrepreneurship is not only exclusive to businesses that provide a product, but includes services. The most common are banking services, landscaping companies, and cleaning services.

Of course, being an entrepreneur, whether they go on to create a massive corporation or a small business, is no easy task. First and foremost, entrepreneurs have to be willing to take risks. Anytime someone starts their own business, there are many obstacles and doubts that have to be overcome. If one cannot see beyond the early struggle, they will be unable to take the necessary steps to success, despite the risk of rejection by the market. Along with this ability, is the need to be dedicated and determined. An entrepreneur cannot simply quit; they have to create innovative solutions. Although it can be difficult, it strengthens the product or the service that they are creating. A common misconception is that entrepreneurs need to be rich. Of course there needs to be some source of capital goods and money, entrepreneurship is a process. An initial amount of money is needed, however, gains that are profited along the way can be reinvested back into the company. The vision and the dream is much more significant. It is also important to stress that entrepreneurs are creative. They think outside the box to bring a new idea to life. Without this creative element, it does not distinguish them from previous entrepreneurs. Lastly, entrepreneurship requires hard work. Like with most things, the more you put in the more you will get out. Doing this ensures that the business is living up to its best potential. After all, there is never a guarantee that it will succeed, let alone sky rocket.

Entrepreneurs are the glue that holds society together. They provide resources, jobs, and unique offers that would not be possible without them. As the famous entrepreneur Walt Disney said, “The way to get started is to quit talking and begin doing.” To find out if you would make a good entrepreneur, visit the link below: https://smallbiztrends.com/2019/10/entrepreneur-quiz.html.