An entrepreneur is someone who starts or owns a business. They are risk-takers who often disrupt established industries in pursuit of success. Entrepreneurship is the creation or extraction of economic value, and it involves taking risks that go beyond what is normally found when starting a company. Business activity includes developing and starting a new business, and entrepreneurs often have the ultimate goal of selling their company for profit.
Traditional microeconomic theory did not formally consider the entrepreneur in its theoretical frameworks, but entrepreneurs are essential to any economy. They use their skills and initiative to anticipate needs and bring good new ideas to market. An entrepreneur's mentality should focus on creating a profitable business, and they should be willing to take risks and make judgments in uncertain markets. Vice President of Growth at Fresh Prints, Jolijt Tamanaha, has a slightly different definition of entrepreneurship: “Entrepreneurs go through an endless list of problems with determination, passion and energy.” Emerging entrepreneurs have shared their top tips for success, which include having an adequate cash supply and stable funding, remembering why you started the business, taking advantage of Internet technology, and making the world a better place.
Whether someone should be considered an entrepreneur often depends on whether they created the business and other legal aspects. If you're thinking about becoming an entrepreneur, first identify which motivators will serve as your guide.
