What Is Interprenurship : Difination And Importance

What is Entrepreneurship?

Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit.

But as a basic entrepreneurship definition, that one is a bit limiting. The more modern entrepreneurship definition is also about transforming the world by solving big problems. Like bringing about social change or creating an innovative product that challenges the status quo of how we live our lives on a daily basis.

What the entrepreneurship definition doesn’t tell you is that entrepreneurship is what people do to take their career and dreams into their hands and lead it in the direction they want. 

It’s about building a life on your own terms. No bosses. No restricting schedules. And no one holding you back. Entrepreneurs are able to take the first step into making the world a better place – for everyone in it, including themselves.

What is an Entrepreneur? Entrepreneur DefinitionAn entrepreneur is a person who sets up a business with the aim to make a profit.

This entrepreneur definition can be a bit vague, but for good reason. An entrepreneur can be a person who sets up their first online store on the side or a freelancer just starting out.

The reason why they’re considered entrepreneurs, though some disagree, is because where you start out isn’t necessarily where you’ll end up. 

An entrepreneur is someone who starts a side hustle that can eventually create a full-time, sustainable business with employees. Same with the freelancer. If your entrepreneurial mindset is focused on creating a profitable business, you fit the entrepreneur definition.  

But the entrepreneur meaning involves much more than being a business or job creator. 

Entrepreneurs are some of the world’s most powerful transformers. From Elon Musk sending people to Mars to Bill Gates and Steve Jobs making computers part of every household, entrepreneurs imagine the world differently.

And the entrepreneur definition rarely ever talks about the enormous impact these thought leaders have on the world.

Entrepreneurs see possibilities and solutions where the average person only sees annoyances and problems.

Understanding what an entrepreneur is can help more people recognize the value they can – and already do – contribute to the world.

What Is the Meaning of Entrepreneurship?

The meaning of entrepreneurship involves an entrepreneur who takes action to make a change in the world. Whether startup entrepreneurs solve a problem that many struggle with each day, bring people together in a way no one has before, or build something revolutionary that advances society, they all have one thing in common: action.

It’s not some idea that’s stuck in your head. Entrepreneurs take the idea and execute it. Entrepreneurship is about execution of ideas.

How Real Entrepreneurs Define Entrepreneurshippersonal level.

Altimese Nichole

Altimese Nichole, Founder of NicholeNicole shares: “Many are excited to become an entrepreneur but get discouraged when reality hits. Entrepreneurship means staying committed to your goals beyond your feelings of excitement. Stay the course and keep your ‘why’ in mind.”

Christopher Molaro's entrepreneurship definition

Founder and CEO of NeuroFlow Christopher Molaro says, “Entrepreneurship means being the one that is willing to take a leap, work hard enough to sacrifice everything else around you, all in the name of solving problems because no one else is capable or possesses the desire.”

Jolijt Tamanaha entrepreneur meaning

The meaning of entrepreneurship is a bit different for Jolijt Tamanaha, Director of Marketing and Finance of Fresh Prints, who shares: “Entrepreneurs make their way down a never-ending list of problems with grit, passion, and energy. While intense, being an entrepreneur means you get to live life learning an incredible amount and maximize your impact on the world because you have to tackle the hardest problems.”

Nicole Faith

Here’s how Nicole Faith, Founder of 10 Carat Creations, breaks it down: “Being an entrepreneur means having a plan and vision but still succeeding or trying to succeed when the plan falls apart and you’re left with only your vision. It also means knowing when to give up, especially if your idea isn’t working due to forces outside of yourself.”

James Sandoval

According to James Sandoval, Founder and CEO of Measure Match: “Being an entrepreneur means diving headlong into a [likely very risky] venture of your own making, working hard, long hours, often alone, to carve out a path to success and never, ever giving up.”

Mike Kim

Mike Kim, Co-founder and COO of KPOP Foods, shares what entrepreneurship is really all about. “Entrepreneurship is not for the faint hearted. I am a US Army veteran. I have been in combat and I have endured many difficult situations. However, I can honestly say starting a company has been just as challenging, albeit in different ways. 

“While no one’s life may be in imminent danger, the battles you face on your entrepreneurial journey can last years with no repose. Creating a successful business requires massive amounts of action, perseverance, and conviction. If you understand this and choose to proceed, you’ll find the experience rich in rewards.”

Importance of Entrepreneurship

Without entrepreneurs, jobs wouldn’t exist. Entrepreneurs take on the risk to employ themselves. Their ambition to continue their business’ growth eventually leads to the creation of new jobs. As their business continues to grow, even more jobs are created. 

Entrepreneurs innovate: Some of the greatest technologies in today’s society have come from businesses. The technological advances come out of a need to solve a problem, create efficiencies, or improve the world. In periods where there’s more advancement in technology, there’s usually an entrepreneur to thank for it.

Entrepreneurs create change: Entrepreneurs dream big. So naturally, some of their ideas will make worldwide change. They might create a new product that solves a burning problem or take on the challenge to explore something never explored before. Many aim to make the world better with their products, ideas, or businesses.

Entrepreneurs give to society: While some have this notion of the rich being evil and greedy, they often do more for the greater good than the average person. They make more money and thus pay more in taxes, which helps fund social services. Entrepreneurs are some of the biggest donors to charities and nonprofits for various causes. Some seek to invest their money in creating solutions to help poorer communities have access to things we take for granted, like clean drinking water and good health care.

Entrepreneurs add to national income: Entrepreneurship generates new wealth in an economy. New ideas and improved products or services from entrepreneurs allow for the growth of new markets and new wealth.