Entrepreneurship is the ability of someone to make something from the available resources. It could be finding a better solution to an existing problem or developing a business from scratch and generating income.
In this competitive market, it takes a lot to be a successful entrepreneurship. The is not very easy for a person to build a business and provide great value for money to customers and earn from there.
Entrepreneurs are those people who don’t want to work for others, no matter how much money they make from there. Rather they start their own, work on their plan, make strategies, gather funds, and execute the plan no matter what it takes. And making everything possible and earning from would be considered as real entrepreneurship.
There are different types of entrepreneurship:
Small Business Entrepreneurship
It is the smallest unit of entrepreneurship. Most of the start their business from a small level. Their goal is to generate some income form the business for liabilities like paying bills, buying groceries, and maintaining & supporting their family. Usually, departmental stores, hairdressers, handyman, etc are considered as small businesses.
Innovative entrepreneurs who always thrive for solving existing problems. They usually come with a better solution for problems to make everyone’s life better and easier. By addressing the problem and take adequate measures and developing a business out of it are real innovators. These kinds of people always stay charged up and tend to do big in the long run.
Large Business Entrepreneurship
This is like an industrial business module. Large companies and their ideas of solving a new problem and greeting solution or create a product on basis of their customers and market can be considered as large business entrepreneurship. A large number of skilled people work here to make a great service or product that usually puts a huge impact.
Scalable startup entrepreneurship
Sometimes a company discovers something unique or very potential and they know their company is going to make a revolutionary impact. Then they hire well-skilled employees and workers, gather more venture capital food the outgrowth. This is considered scalable startup entrepreneurship.
These are the basic categories of entrepreneurship but there are a few more.
It does not matter if you start a small business or large your goal should be focused as an entrepreneur to achieve the most.
These are the common traits of a potentially good entrepreneur:
You should be self-motivated and focused on your goal.
You need to know about the value of the service you are gonna provide
You must take calculative risks
You should be very good at communicating with others and building a strong network. Because networking is crucial for business.
You should have the basic knowledge about the finance of the business, how to arrange funds, and management of the funds properly.
You need to be passionate about your work. A great entrepreneur does not care how much he has to work, how many obstacles he has to face, he believes in accomplishing the goal anyway.