What does an entrepreneur do?
An entrepreneur is an individual person who creates a business and bearing most of the risks. He/She enjoys most of the rewards. And entrepreneurship is the process of setting up a unique business. Most commonly, they begin their own businesses. They come up with some idea then they design it. After that they create it, produce it, promote it and finally they sell it.
What kind of skills do they need?
They must possess certain skillsets. They are in-born leaders and good decision-makers. They must think logically. They take the financial decisions, always. Entrepreneurs must be a good communicator in public. Starting a business is very competitive. So their degree and experience teaches them how to achieve the success they deserve, such as skills in business, marketing, finance, branding and management level.
Here are famous entrepreneurs you must know (2021 Updated List)
- Jeff Bezos (Net Worth: $113.9B)
- Elon Musk (Net Worth: $164B)
- Bill Gates (Net Worth: $96.3B)
- Mark Zuckerberg (Net Worth: $55.7B)
- Richard Branson (Net Worth: $3.5B)
- Sergey Brin (Net Worth: $48.2B)
- Carlos Slim (Net Worth: $49.8B)
- Michael Saul Dell (Net Worth: $24.3B)
- Lawrence Joseph Larry Ellison (Net Worth: $48B)
- Narayana Murthy (Net Worth: $1.9B)
Hard work and dedication towards the work are the things that makes a good entrepreneur.
How Entrepreneurship Works
- Overcoming bureaucracy
- Hiring talent
- Obtaining financing
How to Become an Entrepreneur?
Here are some general steps that most of the successful entrepreneurs follow:
- Ensure Financial Stability
- Build a Diverse Skill Set
- Consume Content Across Multiple Channels
- Identify a Problem to Solve
- Solve That Problem
- Network Like Crazy
- Lead by Example
Types of Entrepreneurship:
- Small Business Entrepreneurship
- Scalable Startup
- Large Company
- Social Entrepreneurship
Entrepreneurs enter the current market because they love what they are passion about. They believe their product that will have a positive impact, and they hope that will make profits from their efforts. The steps entrepreneurs take actually fuel the economy; they create businesses that employ person and make products and services that consumers needs.