What Do Entrepreneurs Do?
We have all heard about entrepreneurs and entrepreneurship. The stereotypical image that we know of an entrepreneur is that it owns or builds a business from scratch, more commonly selling products. In secondary years, as I remembered during my school days, we were asked to do entrepreneurship. So, we cooked candies and sell them. We list the expenses and the earnings and compute how much we gain. Entrepreneurship is pretty simple back then, and it is easy to become an entrepreneur.
As years go by, earning becomes really hard, and as much as people want to become an entrepreneur, it is just too hard to get inside the busy and competitive market. Aside from the typical image of entrepreneurs that we know of back in high school, what really is an entrepreneur in the outside world, in the business world?
What is an Entrepreneur?
Let us remove the biases we know from the past of its description and go down to what really is it. An entrepreneur does not just directly sell to earn; he or she knows what the market needs and comes up with an idea of what to supply the market to fill their needs. They build a business, buy a franchise, or run a family business.
Entrepreneurs take risks to implement their innovations. They lead their company or organization to take on entrepreneurship. They take full responsibility for providing the market with their innovation and accepts whatever the business’s outcome.
What does an Entrepreneur do?
Developing, designing, producing, marketing, and selling businesses is the main work of entrepreneurs. The end goal is to earn profit from the business. Every business, may it be big or small, there is an entrepreneur behind it. From small stores to startup online businesses, they operate and own them. Innovation and creativity are the two words that go with entrepreneurs.
To think about owning a business can be fulfilling and can feel rewarding. But, being an entrepreneur is not just about owning a business; it is also about accepting risks and creating new ideas. And there is no doubt that it can be a lot stressful. An entrepreneur wakes up the first from all the employees and rests after everyone else. They got to stretch the days to fill in all the tasks necessary, which can mean days without sleep.
Entrepreneur surrenders their weekends and holidays to fulfill their innovations and plans. This is what they do, especially the startup ones. And the innovations seem to have no end. So, the determination must be bigger than all those piled-up works. They do not rest until everything is running smoothly.
To succeed with entrepreneurship, they must have the will and determination to surmount everything. And man, you have to have confidence all the time. Remember, lack of confidence leads to failure.
Entrepreneurs are willing to be ignored by a thousand calls and emails to find the right investor and clients. They also do marketing campaigns and negotiations with manufacturers. They are like a one-man-band. Though they can have people working for them, they are the leader, so they must perform the task.
There are different types of entrepreneurs: business, social, serial, and lifestyle entrepreneur.
Business entrepreneur – develops new products for the market
Social entrepreneur – offers solutions to the society
Serial entrepreneur – full of ideas allowing them to constantly start new companies
Lifestyle entrepreneur – based their idea on their hobbies and passions
Remember: Entrepreneurs are considered the best if they are able to come up with original ideas, conducts thorough planning, and executes them with tenacity, patience, and confidence.