Entrepreneurship
Overview
A number of people have given up their jobs to become entrepreneurs. Many others have resorted to small business ventures on top of their employment to augment their financial resources. But what is it about entrepreneurship that has attracted individuals to it?
Today’s economic instability has played a major role in people’s decision to engage in entrepreneurial endeavors. Individuals who have reached this resolution, aspire to attain the freedom to manage their own time and be their own boss.
Moreover, there are those who have simply realized their talents, skills, and capabilities and want to put them to good use. They understand that by putting up their own business ventures, they could earn more and make a bigger impact to themselves, their family, friends, colleagues, and society.
Whatever your reason may be for deciding to become an entrepreneur, you will find this compilation useful because you will learn many concepts, tips, ideas, and lessons. It starts by giving you a brief overview of entrepreneurship, along with its main aspects and phases.
Additionally, you will read about certain qualities that are required of every entrepreneur, as well as thorough explanations as to why creativity, innovation, and making intelligent decisions matter and how to develop these within yourself. Invaluable tips and secrets are also noted here, all of which will help you attain success in your chosen career path.
Entrepreneurship is not for everyone but if you have the commitment, the willpower, the right attitude, and the right training, you can be an entrepreneur. You will find all the basic information you need about entrepreneurship in this literature, so, if you are serious about this, go over each lesson and remember them by heart.
Application of each lesson should follow, and you need to do this consistently, so that your learning will eventually become a skill. Once you have attained all the necessary skills you need, then you are ready to become an entrepreneur.
To make our dreams come true, there are certain things we need to do, which may depend on which aspect we want to be successful at, and to what degree. Nevertheless, to achieve success in any business or career, one of the most vital features necessary is entrepreneurship. To delve deeper into the concept, it is necessary to understand its basic definition. Entrepreneurship Definition In essence, entrepreneurship is the practice of involving oneself in an endeavor, generally, a business venture, in the quest to find better opportunities and gain financial freedom. An entrepreneur is an individual who possesses a business,…
Entrepreneurs possess qualities that make them successful at what they do. Training, discipline, environmental influence, and drive are some of the key aspects of an entrepreneur. It is imperative that those who aspire to become an entrepreneur should basically possess these essential qualities. With a commitment to change, develop, and acquire these qualities, you could make a big difference in your life. The following qualities will help you familiarize with the key values required to achieve success in entrepreneurial endeavors. Top Seven Qualities of Entrepreneurs While there are many qualities that entrepreneurs have, seven rank high among them. They are…
There are several aspects of entrepreneurship such as legal aspects, developmental aspects and global aspects. In addition to these aspects there are six phases of entrepreneurship which every entrepreneur must go through in order to become successful. Let us now review these most basic and essential entrepreneurship aspects and phases. Legal Aspects Intellectual properties must be secured and protected, find out what these are and have them patented and copyrighted as soon as possible. Legal aspect includes copyright protection for your assets by registering them with the copyright office. Have everyone in your team sign non-disclosure agreements to protect trade…
Social entrepreneurship is the practice of making an endeavor to help and provide solutions to the problems of society. Social entrepreneurship makes use of the various entrepreneurial principles in order to create an endeavor, organize and manage it to promote change in society. The difference between a social entrepreneur and a business entrepreneur is that the former does not just aim to make profit, but he truly aspires to make a positive impact on society. Objectives of Social Entrepreneur The objectives vary from one social entrepreneur to another, depending on which aspect of society they are trying to help out….
When individuals enter into money-making ventures in the form of a business, a project, or an opportunity, they are considered to be entrepreneurs. Let us now find out what drives people to give up their job, start a business and become entrepreneurs. Why Become an Entrepreneur? There are many reasons as to why people decide to become an entrepreneur. For one, it could be because of the instability he finds in his job. Maybe he realizes that at anytime he could lose his job just like his office buddies who got laid off. Perhaps he got laid off himself and…
Many people have opted to become entrepreneurs because they have realized the vastness of the opportunities awaiting them. Nevertheless, when one engages in entrepreneurship, it helps to know that along the way, you are bound to meet a lot of challenges and will have your own frustrations to deal with. Every entrepreneur out there has experienced good times and bad times in the process of building his business, and every ounce of learning we get through our experiences is always very essential. Although these experiences make us better entrepreneurs, it is without doubt, very helpful for us to be aware…
When a person manages, organizes, and becomes accountable to the risks and outcomes of a business or enterprise, he can be appropriately classified as an entrepreneur. This is the basic definition, but it takes more than a line or two to correctly define such a person. Who then is the ideal candidate for entrepreneurship? It is always good to find out if you are in fact the perfect entrepreneur candidate. Such awareness enables you to realize your own potential and defy limits instead of being stuck in a 9 to 5 office job. Why bound yourself to being an employee…
Entrepreneurship is not for everyone. Generally people try to become successful in their chosen careers and be content with a regular office job. While some of them prefer setting up their own business the traditional way and are happy with it. Thus, it is imperative for you to ascertain if you are cut-out for entrepreneurship and start from there. In this article, you will learn whether you have what it takes to become an entrepreneur, and you will also be provided with valuable tips that will gear you towards success should you realize your potentials in entrepreneurship. Why Become an…
Risk in any endeavor is inevitable and before you decide to become an entrepreneur, you fully need to understand the risks associated with entrepreneurship and ensure that you are ready to handle them; otherwise, it would be a waste of time to start something only to realize later-on that you are not cutout for it. The risks associated with entrepreneurship are discussed in this article to help you gain better knowledge and understanding of what are at stake. This should facilitate readiness on your part, and aid you in deciding whether you would really want to become an entrepreneur or…
Every entrepreneur should possess leadership qualities for them to succeed in their endeavors. In this article, the key relationship of leadership and entrepreneurship are highlighted to give you a better understanding of the relevance of these two concepts. Leadership Leadership is the process by which an individual can influence other people for the benefit of the organization as a whole, as well as for each member. They can make this happen because they possess invaluable attributes such as strength of character, willpower, beliefs, skills, and knowledge. It is important for everyone to understand that leaders are made and are not…
What you learn in the classroom will remain theories unless you apply them in actuality. Thus, the need for firsthand experience is necessary. Internship facilitates the “student” to spend a specified number of hours working for an assigned employer or the host. An established entrepreneur that allows the student to gain work experience in either for-profit or not-for-profit ventures. Colleges, business schools, and other academic institutions offer these programs in order to make sure that students aspiring to become entrepreneurs are given proper support and training. The duration of the program varies; some can be as short as two weeks…
It was sociologist, Shmuel Noah Eisenstadt who was among the very first few individuals who coined the term ‘institutional entrepreneurship’ to refer people who have made themselves a “means” by which fundamental changes were bought about to certain structures and processes. In essence, these are people who strive to achieve market-oriented institutions. To cite an example in a much larger scale, a change in today’s economic structure is what is now popularly referred to as “globalization.” Fundamentally, this kind of entrepreneurship deals with making a significant change in the “rules of the game” as triggered by individuals who have the…
Creative phase, Productive phase and Organizational phase are the three phases of entrepreneurship. In the creative phase, an entrepreneur comes up with ideas that are directly based on his endeavors. In the productive phase, he makes these ideas real by getting the job done. In the organizational phase, he strategize, hire people or forms groups of people needed to get the job done, and comes up with action plans for improvement. Entrepreneur Creativity The ability of a person to formulate ideas and concepts in his mind is made possible through creativity. The creative thought, or what is scientifically known as…
Any invention or creation that is rendered useful to the society is considered as an innovation. Innovations can be simple invention or complex creations. It can be something that people had never heard of, or it could also be a revision or an improved version of an already existing product. Every business requires innovation in order to keep up with the fierce competition. To meet and exceed the expectations of the customers, a business has to continuously strive for excellence and this includes coming up with innovations that are rendered advantageous to the end users. Theories of Innovation There are…
Decision making is all about employing one’s mental processes to come up with a final choice after careful consideration of several options or alternatives. The outcome of your decision could significantly affect your work, your business, and even your life. This is why in entrepreneurship, making intelligent decisions is regarded as very important because it could mean the difference between success and failure of your endeavor. Components of Decision-Making In order to make intelligent decisions, you need to identify the four components that are instrumental to making the right choices. 1. Context. This involves the environment where the decision should…
