• Business Essentials
  • Leadership & Management
  • Credential of Leadership, Impact, and Management in Business (CLIMB)
  • Entrepreneurship & Innovation
  • *New* Digital Transformation
  • Finance & Accounting
  • Business in Society
  • For Organizations
  • Support Portal
  • Media Coverage
  • Founding Donors
  • Leadership Team

entrepreneurship essay brainly

  • Harvard Business School →
  • HBS Online →
  • Business Insights →

Business Insights

Harvard Business School Online's Business Insights Blog provides the career insights you need to achieve your goals and gain confidence in your business skills.

  • Career Development
  • Communication
  • Decision-Making
  • Earning Your MBA
  • Negotiation
  • News & Events
  • Productivity
  • Staff Spotlight
  • Student Profiles
  • Work-Life Balance
  • Alternative Investments
  • Business Analytics
  • Business Strategy
  • Business and Climate Change
  • Design Thinking and Innovation
  • Digital Marketing Strategy
  • Disruptive Strategy
  • Economics for Managers
  • Entrepreneurship Essentials
  • Financial Accounting
  • Global Business
  • Launching Tech Ventures
  • Leadership Principles
  • Leadership, Ethics, and Corporate Accountability
  • Leading with Finance
  • Management Essentials
  • Negotiation Mastery
  • Organizational Leadership
  • Power and Influence for Positive Impact
  • Strategy Execution
  • Sustainable Business Strategy
  • Sustainable Investing
  • Winning with Digital Platforms

What Does It Take to Be a Successful Entrepreneur?

Female entrepreneur using laptop in workspace

  • 09 Jul 2020

The world is filled with aspiring entrepreneurs—people who believe they have what it takes to launch a company and build it into a profitable business. While anyone can start a business, not everyone will succeed.

Research by Harvard Business School Professor Shikhar Ghosh shows that up to 75 percent of startups fail. According to Zippia , 22 percent of small businesses fail within one year of being launched, half fail within five years, and approximately two-thirds fail within 10 years.

In light of these statistics, the question becomes: What does it take to be a successful entrepreneur? What steps can aspiring entrepreneurs take to lay the groundwork for success?

Access your free e-book today.

What Is an Entrepreneur?

An entrepreneur is someone who launches a business venture, typically in the form of a company that manufactures and sells a product or provides a service. Entrepreneurs are often viewed as innovators who identify a problem or opportunity, then develop a solution no one else has recognized.

In the online course Entrepreneurship Essentials , it’s noted that “entrepreneurs—either individuals or teams—actively scan the environment for opportunities, or discover them as they live and work. They form hypotheses about what customers want or need and how they can deliver value to the customer.”

Successful entrepreneurs don’t just charge ahead with their ideas. First, they seek to validate there’s demand.

One way they do so is through testing. According to Entrepreneurship Essentials , entrepreneurs “recruit people and invest money to determine if customers will indeed value the product and they can produce and deliver it at an acceptable cost. They often find different, even better ideas once in the marketplace.”

Check out the video below to learn more about what it takes to succeed as an entrepreneur, and subscribe to our YouTube channel for more explainer content!

Entrepreneurship Requirements

Do you have dreams of one day becoming an entrepreneur and launching your own company? In addition to a business idea, doing so will require you to possess certain skills and characteristics .

1. Key Entrepreneurship Qualities and Behaviors

Several researchers have tried to pinpoint a specific entrepreneurial personality or profile in an attempt to quantify what makes some more successful than others.

In Entrepreneurship Essentials , it’s explained that there’s no single personality profile that leads someone to success as an entrepreneur. However, there are a number of characteristics shared by some of the world’s most successful entrepreneurs.

Some behaviors that are distinct from personality traits and associated with entrepreneurship include curiosity, pattern recognition, team building, structured experimentation, adaptation, decisiveness, and persistence.

While it can be argued that some people are more inclined to exhibit these behaviors than others, each of these qualities can be acquired through proper training and development .

2. Essential Entrepreneurial Skills

Especially in the earliest stages of launching a business, entrepreneurs are responsible for performing a variety of duties—it comes with the territory. Before you have an accounting department, marketing staff, and product development team, you'll likely need to perform some of these critical responsibilities.

Taking the time to develop certain skills before launching your business can drastically improve your chances of success. Here’s a list of some of the most critical skills all entrepreneurs should have:

  • Communication skills , which you’ll leverage daily as you work with vendors, investors, customers, and various members of your growing team
  • Organizational skills , which will empower you to work toward your goals efficiently
  • Time management skills , which will be essential throughout your career, but especially early on, when you have multiple responsibilities
  • Data-driven decision-making , which will enable you to make objective, measurable decisions about your products, services, business, and customers
  • Strategic thinking , which will allow you to discover opportunities and threats that guide business decisions more easily
  • Accounting basics , which will be especially important before you have a person or team dedicated to managing your business’s finances
  • Resilience , because every entrepreneur faces challenges and struggles, and it takes resilience to bounce back

Entrepreneurship Essentials | Succeed in the startup world | Learn More

3. An Opportunity or Business Idea

For a new venture to succeed, the business plan must be centered around a solid opportunity. In Entrepreneurship Essentials , an opportunity is defined as a proposed venture to sell a product or service for which customers are willing to pay more than the required investments and operating costs.

An opportunity is more than a product idea, and it extends well beyond the initial act of getting into business. According to Entrepreneurship Essentials, “it’s a plan that shows how a venture will attract, retain, and reward all stakeholders, including customers, founders, employees, investors, distributors, and suppliers.”

That plan doesn’t end once you’ve identified an innovative business idea . Ideally, your concept should be validated before you commit resources, time, and effort to bring it to life. Once validated and pursued, you must constantly reevaluate your business to determine whether you need to adapt to new opportunities or threats.

4. Resources and Funding

Finally, to launch your business, you’ll need a source of funding to purchase equipment and materials, develop your product or service, iterate upon your offerings, and refine your processes. Exactly what funding looks like will vary depending on the type of business you’re launching and your industry.

For some entrepreneurs, self-funding is possible. In such cases, an entrepreneur might set aside enough money to pay for their living expenses while they get their business off the ground, in addition to the costs associated with the launch.

Self-funding isn’t the only option available. There are many other paths you might take, such as:

  • Securing an SBA loan from the Small Business Administration
  • Raising capital from investors
  • Applying for grants (this may be especially suitable for nonprofit organizations)
  • Crowdfunding from the public
  • Relying on a line of credit

Every form of funding comes with benefits and risks. Self-funding, for example, allows you to retain complete control over your business and potential profits, but also requires you to carry the risk of failure. Raising capital from investors, on the other hand, allows you to spread your risk and, potentially, launch your business quicker—but it forces you to give up a portion of your control. Ultimately, you must decide what makes the most sense for your business.

Which HBS Online Entrepreneurship and Innovation Course is Right for You? | Download Your Free Flowchart

Your Path to Becoming an Entrepreneur

Countless aspiring entrepreneurs have an interesting, innovative, and compelling business idea, but don’t have the skills or qualities to carry it through to fruition. Similarly, many others have the skills and qualities, but lack an idea to pursue. Even those with a brilliant idea and the necessary skills can fail to get their project off the ground if they don’t have access to funding. Successful entrepreneurship requires a blend of all these components.

The good news is: Successful entrepreneurs aren’t born—they’re made. With the right training , instruction, and development, everyone has the potential to become an entrepreneur.

Are you interested in learning the ins and outs of entrepreneurship? Explore our four-week online course Entrepreneurship Essentials and our other entrepreneurship and innovation courses to learn to speak the language of the startup world. If you aren't sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

entrepreneurship essay brainly

About the Author

What I learned when I took an entrepreneurship class at age 14

by Pau Pavón


Last year, I made one of the best decisions of my life.

At school, I had to choose one of three subjects: French, classic culture, or Entrepreneurship. I didn’t know what the last one was all about, so I joined in.

I was told it would be something “about business” and stuff like that. It sounded good, but nothing too exciting. Oh, was I wrong: it turned out to be awesome . We had this class twice a week, and I remember looking forward to it every single day.

The goal of the subject, ultimately, was to build a project or a service that answered a need in society.

Before and while doing that, we learned some (very useful) concepts which are essential to setting up a business, like defining the value proposition(s), evaluating costs and revenue streams, and so on. Overall, we learned how to make our own business model canvas, which I now believe to be key when building or trying to understand any business.

Despite the usefulness of this knowledge, that wasn’t the best part. What ended up being better — way better — was what I would learn on my own.

As I said, taking the class itself was great. But I wasn’t satisfied with what I was taught in it: I wanted more. I began googling and youtubing (is that even a word??) and eventually got really, really interested in entrepreneurship.

And that’s really the point I want to make in this article. Entrepreneurship is a passion for a lot of people, just as writing, engineering, sports, and art are for others. So I’ve been wondering: why isn’t it a subject that most schools teach? Not only may you find your passion, but entrepreneurship classes come with plenty of other benefits as well.

Here are some lessons I learned, both from my class and from working through problems on my own.

Entrepreneurship enhances creativity and boosts innovation


Being creative and innovative is something inside ourselves that needs to be developed. It’s only through putting these abilities to work that you can improve them. It’s undeniable that entrepreneurship requires both skills, so they’ll get used and improved along your way.

You learn to listen to others and value their ideas/points of view


Working with your team in order to get something done is essential. People naturally excel in different subjects. If you accept that fact and learn to use it to your advantage (the team’s advantage), the end product, service or whatever project you’re working on will turn out really well.

You get to think about the problems society is facing today


When choosing what we wanted to develop, we had to find a need or a problem in society that we wanted to solve. It’s very likely that you don’t think about this every single day, and trying to do so can even be difficult at first. Once you get into the flow of it, though, you start to realise that there are tons of things that can be solved or improved. You also become aware of a lot of problems you hadn’t ever thought about.

Your team needs to chase an end goal


Combining the above three, you finally set yourself and your team an objective and start working towards it. I believe that this is essential, not only in business/school related matters but in life in general. Having clear goals you’re passionate about makes it easier to realise your dreams and fulfill your aspirations in any field.

And, at the end of the day, that’s what I think entrepeneurship is about. It’s about making other people’s lives better while you improve yours as well. It’s about giving, receiving, hearing and being heard, and, overall, loving the work you do.

I hope you liked my story, and I’d really like to read your opinions on entrepreneurship being taught at school. Thanks for reading!

If this article was helpful, share it .

Learn to code for free. freeCodeCamp's open source curriculum has helped more than 40,000 people get jobs as developers. Get started


  • The Magazine
  • Newsletters
  • Managing Yourself
  • Managing Teams
  • Work-life Balance
  • The Big Idea
  • Data & Visuals
  • Reading Lists
  • Case Selections
  • HBR Learning
  • Topic Feeds
  • Account Settings
  • Email Preferences

So You Want to Be an Entrepreneur?

  • Emily Heyward

entrepreneurship essay brainly

One founder’s advice on what you should know before you quit your day job.

Starting a business is not easy, and scaling it is even harder. You may think you’re sitting on a completely original idea, but chances are the same cultural forces that led you to your business plan are also influencing someone else. That doesn’t mean you should give up, or that you should rush to market before you’re ready. It’s not about who’s first, it’s about who does it best, and best these days is the business that delivers the most value to the consumer. Consumers have more power and choice than ever before, and they’re going to choose and stick with the companies who are clearly on their side. How will you make their lives easier, more pleasant, more meaningful? How will you go out of your way for them at every turn? When considering your competitive advantage, start with the needs of the people you’re ultimately there to serve. If you have a genuine connection to your idea, and you’re solving a real problem in a way that adds more value to people’s lives, you’re well on your way.

When I graduated from college in 2001, I didn’t have a single friend whose plan was to start his or her own business. Med school, law school, finance, consulting: these were the coveted jobs, the clear paths laid out before us. I took a job in advertising, which was seen as much more rebellious than the reality. I worked in advertising for a few years, and learned an incredible amount about how brands get built and communicated. But I grew restless and bored, tasked with coming up with new campaigns for old and broken products that lacked relevance, unable to influence the products themselves. During that time, I was lucky to have an amazing boss who explained a simple principle that fundamentally altered my path. What she told me was that stress is not about how much you have on your plate; it’s about how much control you have over the outcomes. Suddenly I realized why every Sunday night I was overcome with a feeling of dread. It wasn’t because I had too much going on at work. It was because I had too little power to effect change.

entrepreneurship essay brainly

  • EH Emily Heyward is the author of Obsessed: Building a Brand People Love from Day One (Portfolio; June 9, 2020). She is the co-founder and chief brand officer at Red Antler, a full-service brand company based in Brooklyn. Emily was named among the Most Important Entrepreneurs of the Decade by Inc.  magazine, and has also been recognized as a Top Female Founder by Inc. and one of Entrepreneur’s Most Powerful Women of 2019.

Partner Center

  • Search Search Please fill out this field.

What Is Entrepreneurship?

  • Entrepreneurs & Economic Growth
  • "Necessity" Entrepreneurs vs. "Opportunity" Entrepreneurs
  • Where Entrepreneurship Aids Growth—and Where It Doesn't
  • Entrepreneurs & Social Progress
  • Entrepreneurship FAQs

The Bottom Line

  • Business Leaders
  • Entrepreneurs

Why Entrepreneurship Is Important to the Economy

Entrepreneurship can promote economic growth, even if its benefits are sometimes overhyped

Diane Costagliola is a researcher, librarian, instructor, and writer who has published articles on personal finance, home buying, and foreclosure.

entrepreneurship essay brainly

Entrepreneurship is often cited as a major engine of economic growth, particularly in the United States. But the actual picture is more complicated. Here's what leading scholars have to say about the importance of entrepreneurship around the world.

Key Takeaways

  • Entrepreneurship can fuel economic growth under the right conditions and when people become entrepreneurs for the right reasons.
  • It is not, however, a magic bullet for growth, particularly in less-developed economies.
  • Social entrepreneurship can attempt to deliver both profits and societal good, though often with mixed results.

Entrepreneurship is a general, blanket term related to starting a business. But its precise definition has long been a matter of debate among scholars and policymakers.

"Despite widespread interest in the topic and a broad recognition of its importance to the economy, there remains a lack of consensus about how to specifically define entrepreneurship," the nonpartisan Center for American Entrepreneurship notes. "'Entrepreneur' is an English derivation of the French word 'entreprendre' (to undertake), leaving wide latitude for interpretation and application."

Howard Stevenson, known as "the godfather of entrepreneurship studies" at Harvard Business School (HBS), has defined it as the "pursuit of opportunity beyond resources controlled." As fellow HBS professor Tom Eisenmann elaborates, "'beyond resources controlled' implies resource constraints. At a new venture's outset, its founders control only their own human, social, and financial capital. Many entrepreneurs bootstrap: they keep expenditures to a bare minimum while investing only their own time and, as necessary, their personal funds."

The Stanford Center for Professional Development at Stanford University offers a somewhat simpler definition: "At its most basic level, entrepreneurship refers to an individual or a small group of partners who strike out on an original path to create a new business. An aspiring entrepreneur actively seeks a particular business venture and it is the entrepreneur who assumes the greatest amount of risk associated with the project. As such, this person also stands to benefit most if the project is a success."

How Entrepreneurs Fuel Economic Growth

Innovation and entrepreneurship undeniably contribute to economic growth, making them a particular area of interest for economists and policymakers worldwide. However, some scholars say that the growth created by entrepreneurship can be exaggerated.

For one thing, growth from entrepreneurial activity doesn't occur evenly across an economy. Studies of economic growth have pointed toward an apparent paradox in which the growth in productivity overall in the U.S. has been only modest in recent years, despite the pervasiveness of entrepreneurship, innovation, and innovation ideology. According to studies by the National Bureau of Economic Research (NBER) , this is because innovation affects industries very differently, having a large impact in some sectors of the economy but little impact in others.  

While generally positive, the link between entrepreneurship and improving societal welfare is also complicated, influenced by factors such as regional population, entrepreneurship density, and the specific industry in which the entrepreneurial activity is taking place, according to the scholarly literature.

What's more, some studies have suggested that economic growth may be correlated to an increase in overall inequality in certain circumstances. Scholars say that in the U.S. income inequality and economic growth have been linked since the 1970s.

"Necessity" Entrepreneurs vs. "Opportunity" Entrepreneurs

One interesting way to look at entrepreneurship is to divide it into two broad categories. "Necessity entrepreneurship" is the launching of a business by people who lack other opportunities. "Opportunity entrepreneurship" is the creation of an enterprise in response to a new or previously overlooked opportunity.

In countries where entrepreneurial activity is largely in the form of necessity entrepreneurship, it can be a signal that the economy isn't creating enough jobs or wage opportunities for workers. It may be connected to slow economic growth or lagging economic development overall, scholars say.

Necessity entrepreneurship can be a side hustle for someone who is trying to make ends meet or a way to meet their non-economic needs and goals.

Where Entrepreneurship Aids Growth—and Where It Doesn't

The level of economic development of a country can also affect whether entrepreneurship will lead to greater economic growth there.

In the 20th century, driven by the decline in manufacturing and the shift toward service businesses, industrialized market economies in later stages of economic development—like the United States and parts of western Europe, such as Germany and Sweden—were able to benefit greatly from entrepreneurship, the economist and management professor Zoltan Acs has noted. Starting in the 1970s, those countries saw a rise in entrepreneurship, which reversed the previous trend in their economies, when workers favored high-paying jobs with big companies over self-employment.

Other factors may be relevant as well. Scholars point out that the U.S., in particular, has benefited from a large and competitive domestic market, a highly developed financial system, and a high level of long-term government support for basic science.

For developing countries, on the other hand, entrepreneurship isn't a panacea for growth. A study of 74 economies across a six-year period concluded that less developed countries should not base their economic policy on "generic entrepreneurship" if they desire to stimulate economic growth. The authors argue that focusing on programs that develop human capital, take advantage of economies of scale, and entice foreign capital are more effective in spurring economic growth.

Italy may provide an additional example of a country where high levels of self-employment have proved to be inefficient for economic development. Research has shown that Italy has experienced large negative impacts on the growth of its economy because of self-employment.

Social Entrepreneurship and Economic Progress

With concerns over sustainability, inequality, and other issues gaining attention, some entrepreneurs have become more interested in the social consequences of their economic activity. In particular, the rise of social awareness among certain entrepreneurs has led to many attempts to use the principles of entrepreneurship to create a more just and sustainable world.

Social entrepreneurship , which has been around as a concept since the 1950s, has become increasingly common. It describes a category of entrepreneurship that can, in some cases, attempt to both make a profit and solve societal problems. It differs from the typical nonprofit model when it pursues both of those ends simultaneously.

From the perspective of social justice, which prizes a world with equal rights and access to opportunity, the reliance of an economic system on entrepreneurship presents both upsides and downsides.

Theoretically, socially conscious entrepreneurship offers the opportunity to generate solutions for marginalized communities, and the motivations for social entrepreneurs around the world tend to come from a genuine desire to fix serious problems. However, it's important to note that sometimes attempts to solve the underlying structural problems lead to murky results. The dual motives of profit and social good can sometimes clash, as the example of microfinancing in India and Bangladesh revealed.

Once popular in international circles, microfinancing is now seen as having a more limited impact on eradicating poverty and sometimes even increasing indebtedness.  The practice may have also led to a series of suicides among farmers in Andhra Pradesh in the 2000s.

What Is the Difference Between a Small Business Owner and an Entrepreneur?

In general, small businesses focus on existing products and services, while entrepreneurs look to introduce new ones. However, small business owners can be entrepreneurial in their own way and entrepreneurs may end up as small business owners if their idea catches on.

What Is an Intrapreneur?

An intrapreneur is someone who works within a larger company, typically one they don't own, to foster entrepreneurial ideas and innovation. Intrapreneurship can be another source of economic growth, and intrapreneurs often have access to greater resources than independent entrepreneurs without a company behind them.

What Is a Social Entrepreneur?

A social entrepreneur is someone who launches an innovative enterprise to address a larger social issue. They may or may not also hope to turn a profit from their efforts.

The relationship between entrepreneurship and economic growth is complicated and can vary from one country to another based on their level of economic development. In highly developed economies, entrepreneurs can accelerate growth, while in less-developed ones they may have less of a positive effect.

Some entrepreneurial efforts, often referred to as social entrepreneurship, hold out the promise for new innovations that will address problems such as climate change and structural racism, possibly while making a profit at the same time.

Center for American Entrepreneurship. " What Is Entrepreneurship? "

Harvard Business Review. " Entrepreneurship: A Working Definition ."

Stanford Center for Professional Development. " What Is Entrepreneurship? "

Duke Sanford Center for International Development. " Top 5 Takeaways on the Importance of Entrepreneurship ."

Academy of Entrepreneurship Journal. " The Economic Impact of Entrepreneurship: Setting Realistic Expectations ."

National Bureau of Economic Research. " The Role of Innovation and Entrepreneurship in Economic Growth ."

Management Review Quarterly. " The Impact of Entrepreneurship on Economic, Social and Environmental Welfare and Its Determinants: A Systematic Review. "

AgEconSearch. " Impact of Economic Growth on Income Inequality: A Regional Perspective ."

Innovations: Technology, Governance, Globalization, Massachusetts Institute of Technology Press. " How Is Entrepreneurship Good for Economic Growth? "

Center for MIT Entrepreneurship. " Necessity Vs. Innovation-Based Entrepreneurs ."

European Research on Management and Business Economics. " Entrepreneurial Activity and Economic Growth. A Multi-Country Analysis ."

European Parliament. " The Social and Employment Situation in Italy ," Pages 10–12.

Deloitte. " The Rise of the Social Enterprise ."

Journal of Management, Southern Management Association. " Social Entrepreneurship Research: Past Achievements and Future Promises ."

The Tavistock Institute. " Microfinance and the Business of Poverty Reduction: Critical Perspectives From Rural Bangladesh ."

Economic and Political Weekly. " Microfinance: Lessons From a Crisis ."

entrepreneurship essay brainly

  • Terms of Service
  • Editorial Policy
  • Privacy Policy
  • Your Privacy Choices


  1. what I have learnedcomplete the statements below and write your answers

    entrepreneurship essay brainly

  2. Entrepreneurship Versus Intrapreneurship Essay Example

    entrepreneurship essay brainly

  3. Basic Concepts and Characteristics of Entrepreneurship Essay.docx

    entrepreneurship essay brainly

  4. A perspective on entrepreneurship Free Essay Example

    entrepreneurship essay brainly

  5. On A Successful Entrepreneur Free Essay Example

    entrepreneurship essay brainly

  6. ≫ Business and Entrepreneurship Essay Free Essay Sample on Samploon.com

    entrepreneurship essay brainly


  1. 06 Why become an Entrepreneur

  2. Where Should Entrepreneurship Be Taught and Who Should Be Teaching It?

  3. What It Means To be An Entrepreneur

  4. Writing for entrepreneurs! 💼📚

  5. 2 types of entrepreneurs

  6. Characteristics of Successful Entrepreneurs


  1. Please help me write a full essay on entrepreneurship

    Answer No one rated this answer yet — why not be the first? 😎 kwabenageorgedg report flag outlined Sure! Here's an essay on entrepreneurship: Entrepreneurship is the process of creating, developing, and managing a new business venture with the aim of making a profit or providing a new product or service to the market.

  2. What is entrepreneurship?

    Entrepreneurship means understanding when you have an opening in the marketplace that no other provider is meeting and having the business sense to know how to go after this new opportunity at the right time. A successful entrepreneur will possess many abilities and characteristics, including the ability to be: Curious Flexible and adaptable

  3. [Expert Verified] What is entrepreneurship ?

    Jers15 Entrepreneurship is earning or saving money while you don't have a job yet or if you want to start earning money. We people need money, especially if its for a gift for a friend, or helping our parents save money for college funds. Entrepreneurship can help by saving money, for later use just for our needs and for the future year.

  4. What Does It Take to Be a Successful Entrepreneur?

    An entrepreneur is someone who launches a business venture, typically in the form of a company that manufactures and sells a product or provides a service. Entrepreneurs are often viewed as innovators who identify a problem or opportunity, then develop a solution no one else has recognized.

  5. What are the benefits of entrepreneurship essay?

    Advertisement rrachel7873 is waiting for your help. Add your answer and earn points. Add answer +10 pts Expert-Verified Answer question No one rated this answer yet — why not be the first? 😎 JoseOlivia Entrepreneurs establish new business and new markets, raise productivity, promote competition, and provide job possibilities.

  6. 1.1 Entrepreneurship Today

    According to an article in , "In the for-profit world, an entrepreneur is someone who creates and runs a new business where one did not exist before. And, no, the McDonald's franchisee didn't create McDonald's. But he certainly created a McDonald's where there never was one before. Franchisees are entrepreneurs.".

  7. 1.2 Entrepreneurial Vision and Goals

    An entrepreneurial vision considers what you want your venture to become, what this venture will look like, what the driving forces are, and what values and culture should surround it. Each individual entrepreneur has a unique picture of what the venture will become. For example, Kevin F. Adler wanted to help homeless people. He created Miracle Messages, a volunteer-based nonprofit ...

  8. 1.3 The Entrepreneurial Mindset

    An entrepreneurial mindset includes creativity, problem-solving skills, and a propensity to innovation. 23 Open-mindedness is one characteristic that supports creativity, problem solving, and innovation. Taking the time to explore new ideas, dream, reflect, and view situations from a new perspective contribute to the entrepreneurial mindset.

  9. What I learned when I took an entrepreneurship class at age 14

    Having clear goals you're passionate about makes it easier to realise your dreams and fulfill your aspirations in any field. And, at the end of the day, that's what I think entrepeneurship is about. It's about making other people's lives better while you improve yours as well. It's about giving, receiving, hearing and being heard, and ...

  10. So You Want to Be an Entrepreneur?

    July 23, 2020 joSon/Getty Images Summary. Starting a business is not easy, and scaling it is even harder. You may think you're sitting on a completely original idea, but chances are the same...

  11. What I have learned about entrepreneurship...

    LESSON LEARNED #5: Diversity is the key success factor and enabler for entrepreneurship: hard and soft skills, centralized and decentralized approaches, bottom-up and top-down initiatives, high ...

  12. Why Entrepreneurship Is Important to the Economy

    Key Takeaways. Entrepreneurship can fuel economic growth under the right conditions and when people become entrepreneurs for the right reasons. It is not, however, a magic bullet for growth ...

  13. Entrepreneurship

    entrepreneurship, the state of being an entrepreneur, or a person who organizes, manages, and assumes the risk of a business with the goal of generating economic value. The term is derived from the Old French verb entreprendre, "to undertake."Entrepreneurship is one of the four factors of production (the economic resources, both human and other, that are used to bring about a flow or ...

  14. Essay on innovative entrepreneurship as a business ...

    Innovative entrepreneurship, in particular, has captured the attention of many young entrepreneurs as it offers a unique opportunity to create a product or service that is new, innovative, and potentially disruptive. In this essay, I will critically discuss innovative entrepreneurship as a business opportunity for young entrepreneurs.

  15. What is your personal reflection on being an entrepreneur ...

    Brainly User. report flag outlined. Answer: Being an entrepreneur should not be just about making money, but also making a difference. It should be about making life better not only for ourselves, but for others as well. ... Entrepreneurs are leaders. This means they should be able to impart positivity with their employees.

  16. Reflection about entrepreneurship

    Answer: Entrepreneurship is a rising trend in the business industry. As we can see in social media, the number of rising entrepreneurs are increasing. Many venture into selling and reselling of clothes, some into selling and reselling of gadgets and other necessary stuff needed by the public.

  17. The Importance Of Entrepreneurship: Features And Types

    Ability to take risks: Entrepreneurship is the ability and willingness to take risks in creating new services and items if necessary. Creation of goals: An entrepreneur usually sets objectives to fulfil and is clear in their vision. Leadership quality: To fulfil their objectives and manage different tasks, possessing leadership qualities is ...

  18. entrepreneurship essay

    According to Higgins, Entrepreneurship is meant for the function of seeing investment and production opportunity, organising in enterprise to undertake a new production process, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing new techniques and commodities, discovering new sources of raw materials...