There was a time when the word “entrepreneurship” was not an official part of the languages. However, there have been entrepreneurs around for centuries, contributing to essential changes in humanity. Today, the term is increasingly used to define people who can identify problems, opportunities and find innovative solutions. You can see them every time you visit business social media pages and business news daily.
This does not mean that an entrepreneur is necessarily an entrepreneur and vice versa. This article will finally understand what entrepreneurship is and discover some qualities common to successful entrepreneurs.
What is entrepreneurship?
Entrepreneurship is the ability of a person to identify problems and opportunities, develop solutions, and invest resources in creating something positive for society. It can be a business, a project, or even a movement that generates fundamental changes and impacts people’s daily lives.
According to the theorist Joseph Schumpeter, entrepreneurship is directly associated with innovation. For Schumpeter, the entrepreneur is responsible for making new combinations.
The introduction of a new good, the creation of a production or marketing method, and even the opening of new markets are everyday entrepreneurship activities. This means that “the essence of entrepreneurship lies in the perception and use of new opportunities in the business field.”
What is being an entrepreneur
Now that you know what entrepreneurship is, you need to know what it means to be a true entrepreneur. Some people understand an entrepreneur as someone who starts something new, who sees opportunities that no one has seen before. In other words, it is a person who does, who leaves the comfort zone and the dream area, and goes into action.
Therefore, an entrepreneur is a doer who puts new ideas into practice through creativity. This often means changing everything that already exists. Have you seen those people who can turn crises into opportunities and who influence others with their ideas? They are probably promising entrepreneurs.
Young people are more interested in having their own business venture and putting their ideas into practice, creating innovative solutions for society. But how to identify an entrepreneur? See below what are the characteristics present in this profile.
Characteristics of an entrepreneur
No one is born an entrepreneur. Social contact and studies favor the development of talents and personality traits, which can be strengthened throughout life. All communications and references will directly influence a person’s entrepreneurship level since an entrepreneur is a social being. Below, we list some peculiarities found in the various profiles of entrepreneurs:
- Optimism: do not confuse optimists with dreamers. The optimist always hopes for the best and believes that everything will work out in the end, but he does everything to reach his goals. This includes, of course, changes in your business. On the other hand, the dreamer does not see risks, and even if his business is failing, he continues to do the same thing because he blindly believes that dreaming is enough to make it happen.
- Self-confidence: believing in oneself is fundamental to value one’s talents and defend one’s opinions. Thus, this type of entrepreneur tends to take more risks.
- Courage: without fearing failure and rejection, an entrepreneur does whatever it takes to be successful. This characteristic does not prevent them from being cautious and cautious against risk but makes them understand the possibility of failure.
- Persistence and resilience: motivated, convinced, and enthusiastic, a good entrepreneur can resist all obstacles until things finally get back on track. He does not give up easily, overcomes challenges, and follows through, always persevering.
Those with these characteristics are already at an advantage when it comes to entrepreneurship, but this is not enough. To be successful as an entrepreneur in any activity, it is essential to have a good project, invest in planning, and a business plan. Below, we list some tips that can help those who want to become entrepreneurs.
Four tips for those who want to invest in entrepreneurship
These are our tips for those who want to be entrepreneurs:
Which segment do you want to work in, do you have an affinity for it, or do you understand a little about the market? The first tip is to analyze the consumer needs and understand what might be a good opportunity. Avoid investing in a type of business just because it is fashionable, the trend may end, and you will have to bear the investment costs.
Offer differentiation. The customer needs to have a motivation to choose your business and not the competitors.
After defining the business activity, identify what actions can be taken to serve the market on a large scale. The greater its scalability potential, the greater its chances of growing, receiving investment, etc.
Talk to experts
Be aware of the events and activities in your segment. Attend fairs, workshops, lectures, seek out the industry experts and talk to them. Having the vision of other professionals will help you in different aspects, especially those who have been in the market longer.
Also, there are many courses developed by specialists that put entrepreneurs in touch. If the entrepreneur wants a more personalized service, he or she can also count on private consultancies.