This is a great question and it is also very important to understand what an entrepreneur is, and what are their roles in our society. In this blog, I will talk about entrepreneurs and their qualities, how can a regular person become an entrepreneur? and what is the requirement?
Before I go future I have to answer this question, what is exactly entrepreneurship?
Entrepreneurship is the act by an individual of starting and developing their business despite the risk of failure and all the costs associated with it in the startup process. An entrepreneur is important in the economies of a country because entrepreneurs are most of the time the minority or I can say 5% of the population and control the entire market.
Why are entrepreneurs important to the economy?
Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increase competition from entrepreneurs and challenge existing firms to become more competitive. create jobs opportunity, help families live their dream life and create freedom, retired with security(See more)
It is not a secret that most people who are become entrepreneurs in the last decade are internet-related. The pandemic of 2019, the close-down forced a lot of people to look for other alternatives, work from home, and create something fun where a lot of capital is not needed and the return is enormous.
I found this website the famous people’s website that did a good job of presenting a list of almost a hundred internet-related entrepreneurs.
The name that appears at the top of the list no doubt, is the wealthiest man in the world the founder and CEO of the multinational technology company Amazon Jef Bezos and he is also the owner of the newspaper Washington Post.
How to become an entrepreneur?
There is no secret when it comes to the way to become an entrepreneur in the new economy, the internet has shifted everything. Becoming an entrepreneur was so hard, you had to invent something, come up with something that no one heard about before, but nowadays no need to invent anything just develop an idea or mimic someone and you make a lot of money.
Like Jeff Lerner who found affiliate marketing in 2008 and make a lot of money in the last decade and now became one of the pioneers of the affiliate marketing industry, took everything he learned in the industry turn then into an affiliate course the millionaire accelerator and Entre coaching, now he owns the fastest e-learning company on the internet.
Ways to become an entrepreneur are to just go online or whatever you are interested in, start learning about it, and practice by taking the risk. Failure is part of the game just remember that.
I was listening to a Jewish rabbi and he said something very special when it comes to entrepreneurship and failure, but he gave an example of war when a country went to war and conquer. He said after the war they always have a parade to celebrate their victory, and they applaud the returning soldier, but there are more sometimes who don’t come back.
When you check online there are thousands of entrepreneurs, who show their flashy cars, beautiful houses, etc. Those are considered those who come back.
The entrepreneurship world is not an easy world, 75% of people who tried to become an entrepreneur fail and never succeed and only 4 or 5% make it to the top.
To become one of the top 4 or 5% you will need to have some key elements that I’m going to talk about in the next paragraph.
key elements of entrepreneurship.
I will list a few characteristics of entrepreneurship, and those key elements or characteristics can be developed easily.
6 key elements of an entrepreneur
There are a lot of key elements of a good entrepreneur, if you are searching on the internet you will find hundreds of them. These six-element according to professors and researchers from universities are the most important on the list.
- Good leadership and governance
- Capacity incentives
- Entrepeneurship in teaching and learning
- A culture of entrepreneurship
- Relationship and partnership
These were the six key elements, learn more from this website about these keys elements
Why are entrepreneurs important?
The importance of entrepreneurship is very broad and can’t be explained in detail in a short blog or even in a book, because its importance and qualities vary.
The vision of an entrepreneur goes far beyond, when talking about capacity it is different from others or regular people.
In the corner of my house, there is a little piece of land too small to build a house, and everyone sees that as an unworthy piece of land, when an entrepreneur comes by and sees that piece of land, he saw a million dollars business.
A business creates based on people’s need not based on what an entrepreneur like, or desire. The best way to become an entrepreneur is to look around and see what is missing and bring that solution based on people’s needs. Do you want to learn how to turn your skill into a successful business? on the millionairetek main page download the free ebook to learn more about how you can build a sustainable business on the internet leaving a legacy. Not as other people promise you will make money online.
Your journey of entrepreneurship could start today, no need to reinvent the wheels. Entrepreneurship can be considered a national asset, and are the driver of that asset for any country. It is a dynamic process that not only increases wealth but can also create value that results in improved well-being.
Entrepreneurship plays an important role in changing society, so it makes sense to cultivate, motivate, and remunerate this greatest asset to the greatest extent possible1.