Small businesses are the spine of this country. These businesses are responsible for creating jobs, coming up with new ways of doing old things, as well as assisting with keeping money in the local community. Among those of us who own small businesses, there’s misunderstanding between the terms ‘Small-Business Owner’ as well as ‘Entrepreneur’. Both can own small businesses however they have different styles of leadership in addition to thoughts about running their business. One is not better than the business. They’re just different.
So, what is ‘entrepreneurship’ exactly?
The word ‘entrepreneurship’ has a number of different definitions. This is because a diverse number of experts have different views on it. Some of them say that entrepreneurship is a company undertaking in which people work for themselves. However, this has been questioned by some experts as they say that a person can’t work independently. This is because business needs innovation as well as leadership.
Here are some of the characteristics that are displayed by entrepreneurs:
- Entrepreneurs seldom want matters to stay as they are. These people are looking to change the status quo, develop things in addition to creating more energy.
- Entrepreneurs create things, look to perform tasks in different ways and are often technically minded.
- Entrepreneurs are usually looking for the next big thing, ready to move on once their company is good enough.
- Entrepreneurs will perform tasks, more often than not, because of passion or opportunity as opposed to strictly profit or a way of making a living.
- Entrepreneurs want to turn the world on its head!
The shared factor in all the explanations of entrepreneurship is that this type of mindset involves grabbing an idea, creating a business around it as well as managing the business around it and assuming its risk.