Entrepreneurship

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Entrepreneurship
Entrepreneurship refers to the creation of a new business. In entrepreneurship, the risks and the profits that come up as a result of the new business are usually shared by the same pioneers (Hayes). Entrepreneurship can either fail or succeed. The latter one results in fame, progressive growth, and profits. While the one that fails results in less dominance in the market and losses.
Some characteristics are associated with entrepreneurs, and they are discussed as follows. Entrepreneurs are risk-takers; for the actualization of entrepreneurship, risks ought to be taken. In the absence of the motive to adventure into something new, it is impossible to invent or innovate something unique. Risks can come in the form of investing in ideas that have never been tried out before. Another characteristic is creativity. Entrepreneur comes up with new ideas, and it is through their creativity, they come up with innovations. Their creativity is essential when they are devising new products into the market. An entrepreneur is a planner, and it is because they strategize on how they are going to manage and implement their idea into the market. Proper planning comes in handy to actualize that goal of entrepreneurship. Professionalism is also serving as a characteristic since self-discipline and reliability do results in the success of entrepreneurship.
As an entrepreneur, I would recognize the right entrepreneurship opportunities through, first and foremost, conducting research or a survey to ascertain the inefficiency that exists in the market. It will be beneficial in coming up with an entrepreneurial idea of addressing that particular issue.
Entrepreneurs need to know this vital information before they get involved in an entrepreneurship opportunity. They need to know whether the entrepren...