As a simple introduction to entrepreneurship, it can be defined as the creation or extraction of value. Through this definition, entrepreneurship can be viewed as change, usually as a result of risk normally encountered when you start a business. This may include values other than just economic ones.
An entrepreneur is a person who creates a new business, while knowingly bearing most of the risks and as a result, enjoying most of the rewards if the endeavor reaches its fruition. The process of setting up and running a business is called entrepreneurship. An entrepreneur is usually seen as a person who brings about a lot of innovation, has a lot of new ideas under their belt, as well as strategies for growth.
However, an introduction to entrepreneurship would be incomplete without talking about the most important thing to be an entrepreneur – and that is money. This is not a strict requirement to be an entrepreneur, but it is definitely recommended. While entrepreneurs have built successful businesses having to be less than nothing in their beginning stages, starting out with a substantial cash supply and making sure about ongoing funding can only help you as an aspiring entrepreneur. It will invariably improve their personal life costs and give them some more time to work on building a business, instead of worrying about how to make some quick money for now.
Another thing that needs to be said as a part of the introduction to entrepreneurship is that you need to have a diverse skillset. The more things you know how to do, the better. This is because most startups begin with very few people, and so each person will have to wear many hats as a result of the manpower shortage. Even so, in case of any future emergencies, it is always good to have a few extra skills handy.