What is Entrepreneurship like in 2016
In discussing entrepreneurship and writing articles on this issue, I have found that this helps understanding as we begin by agreeing on what that word means to us.
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Entrepreneurship is the process of creating or exploiting opportunities, and pursuing them regardless of the resources currently controlled. The American Heritage Dictionary defines an entrepreneur to be the person who organizes, operates, and assumes business risks. ” What is Entrepreneurship like in 2016
These concepts are somewhat abstract for someone who is just beginning to consider whether they should start a business rather than take a job, or leave a safe job to get a chance to meet greater fulfillment. Let’s try to improve our understanding of entrepreneurship by asking more specific questions.
Is it anyone who runs an entrepreneur business? Many do not consider newspaper carriers, cobblers, and lawn mowers, although this is often a young undertaking for those with a propensity for entrepreneurship.
Does it matter whether the business is only part-time? While some part-time activities are basically hobbies, or are done to supplement income, some entrepreneurial ventures can be tested on the market on a part-time basis.
The road to entrepreneurial endeavor may begin by earning a salary in a business that is expected to enter, while learning more about it, and waiting for the right moment to go alone. This time can be used to develop support, professional and personal networks, and generate ideas to solidify people whose opinions are respected.
In what scope is entrepreneurial effort? The main purpose of many entrepreneurs is to hire themselves (and others if necessary) on a low to good salary; Some even willingly make a living to do what they enjoy. This approach is often referred to as a lifestyle business, and is generally accompanied by few, if any, growth plans.
These questions are intended, not to develop the proper definition of entrepreneurship, but to help us understand our attitudes toward various forms of expression. Each of us can answer this question differently, but it all fits into our own frame of reference.
Entrepreneurship is more an attitude than a skill or a profession. Some of us may prefer a company career path or public service, but many choose entrepreneurial opportunities that feel right.
Would you consider someone who inherited an entrepreneur’s business? In terms of inheritance, it is their own money and financial security at risk. They may be able to sell their business, invest their money in blue-chip stocks, and lower dividends. Some may consider managing a private stock portfolio to earn a living as an entrepreneurial venture.
Will someone who inherits a small or marginal business, then take it to a new dimension is considered an entrepreneur? Its influence may be trying to defend it, or even accelerate business decline so that it only takes them into retirement. In a family-run business, long-term success is often a major goal.
What is an entrepreneur franchise owner? Many feel that, for those who have access to large up-front investments, franchising is a sure thing. For many people, operating a franchise is similar to blue chips investment, a relatively certain thing with unusual yields. What is Entrepreneurship like in 2016