Entrepreneurs activate and stimulate all economic activity. It’s the entrepreneurial energy, creativity and motivation that drives the production and sale of new services and products. Entrepreneurs create a business or businesses in order to produce inventive products in response to unmet needs and demands in the market. If you want to become an entrepreneur, you have to be ready to work extremely hard and put all your eggs into one basket. You will make decisions and choices that will define the way and what direction you send your business into. As soon as you start up on your own, you are forced to play the ball, not the player. Many people fail to understand what succession really is, with no motivation to find out. It is how you see your business succeed in the future. In many cases individuals are put off when the term entrepreneur is addressed.
However, we should be embracing our creative minds that have the ability to generate amazing things. “The most challenging part about starting a business is not knowing where it’s going to lead you. However, that all comes down taking risks as that is what an Entrepreneur is all about. We are constantly inventing and innovating our ideas to produce something to the people that they haven’t seen before”. Every entrepreneur has a different story. Their story defines the businesses characteristics, morals and succession. Not all entrepreneurs start with developing their own business. It takes practice, research and your own preparation into drilling into your passionate idea. They see opportunities, in particular the main gaps between the wants and needs of customers and the products and services that are currently available and what they can make available. When opening a new business, employees are needed to be hired in order to provide both services and goods to the consumers.
These businesses established by entrepreneurs create jobs and economic opportunities which encourage and support communities through increasing our 1. quality of life and 2. overall standard of living. Entrepreneurs are unique because they’re capable of bringing together money, raw materials, manufacturing facilities, skilled labor and land or buildings required to produce a product or service. They are willing to try different strategies and inventions in order to achieve their goals of profits. Continually seeking out customer needs that the competition is not satisfying and finding ways to offer their products and services in a way that is different to what anyone else is offering and is more aesthetically attractive. All of these characteristics are within every one, some of us just have to search deeper than others.“I had to work 24 hours a day just to achieve my goal. However, because I was so passionate about wanting to start up on my own, I didn’t mind having to only think about one thing. That was solely focusing on the businesses thrive and overcoming the unforeseen challenges that would arise along the way” ( Jaqui Smoler, specialising in mathematics, science, literacy and literacy skills for dyslexia, 2018). It is important that we reward our children for something they accomplish. This enables them to understand the meaning behind each accomplishment and drive them to their next goal.
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Due to the worlds newest technology, entrepreneurs are handed the ability to turn their ideas into services and goods in a more efficient way. Economic growth is driven by the community from the new innovations and technologies providing the applications we utilise. Without the creative human minds behind the innovations of the products we produce, there would be no new inventions or innovations that have led our society to where it is today. Innovation allows a business to make alterations and in addition add new aspects to make that product modified and improved. In addition, this is why innovation is highly important to be addressed. It is a crucial aspect when it comes to the environmental challenges the world is faced with today. For example, these challenges include, climate change, global greenhouse as emissions and preserving the biodiversity of our environment. Without the reliability of our every day necessities such as food, water and power, the world can not live. Hence why the innovations of technology and infrastructure increases the productivity and enhances economic development. Business expansion is a vital process of building a wealth creation within your business. As an entrepreneur you are constantly thinking of the unfamiliar that you want to create to show the world. Hence, the importance of developing a plan and constantly mapping out your ideas will lead you to your wealth success.
Your wealth creating tool must adapt and be alive to changing the market conditions and needs. Providing choice and satisfying the customer wants will increase and maximise income. Yes, any one has the capability to be an Entrepreneur. We are all creative and possess the skills and ideas that if we set our minds to something, we can create something amazing.
