Entrepreneurship constitutes the driving force of today’s market economy. It is one of the four main economic factors namely land, labor, capital and organization. It is a very powerful factor in changing the business environment of a country and its entire industrial sector.
The word entrepreneur is derived from the French word ‘Entrepreneur’, which means to undertake some activity. Entrepreneur is an innovator of new ideas and business processes. He possesses management skills and strong team building abilities and essential leadership qualities to manage the business.
Entrepreneur’s dictionary meaning is, ‘A person who set up a business or businesses by taking financial risks for profit’.
But in simple words an Entrepreneur is a person who solves problems.
So if you guys are wondering is there any way we can be that person? Then there are no such golden rules to be an entrepreneur rather it’s a process. But there are some points you should know to become an entrepreneur.
So to be a successful entrepreneur you have to know yourself. You have to understand what are your strengths and weaknesses.
Identifying yourself might be the first thing you can do to start with.
So the most important thing for an entrepreneur is to have a great Idea.
So you must be thinking, everybody has a great idea then why they weren’t able to be that person? It’s because for a successful business you don’t just need a great idea but you need an idea which solves the problem.
For example, when Uber founder Garrett Camp spends hundreds of dollars for hiring a private driver, he wanted to reduce this transportation cost for others who also spend a lot of money on transportation. So he came up with the idea of sharing, so people can afford transportation. This solves the common people’s problem of waiting for hours for a cab and also saves their money.
So that’s what it needs. An Idea which deals with the problem which others are facing.
So to all future entrepreneurs find out the problems and invent ideas to solve them.