In the simplest terms, entrepreneurship is creating and managing a new business based on a perceived opportunity presented by the community. Entrepreneurs are the ones who start the business and market it to gain presence in the competitive business industry. In most cases, entrepreneurship is a solo venture managed by one or two owners. They rely on one another to produce, supply, market, and sell their products and services to the public. They could also employ a little number of people, to deal with the production and selling, as soon as the business is financially stable enough.
Economic success is the main goal of most solo entrepreneurs. They already have the idea, the resources to make it happen and a good marketing plan to sell their goods. Their only problem will be breaking into the competitive business industry and get people to realize that their products are the best in the market. Of course, they could not directly compete with big brands. They still need a solid ground to prove their worth to the consumers. Economic success could mean financial stability, widespread recognition, and a steady demand of goods from the business.
There are many ways to become an entrepreneur. In fact, one could start selling an idea today if he or she has the right resources such as the capital and products. There are different kinds of entrepreneurs today; recognizing them will help you realize your strengths and weaknesses. Here are five examples:
On-base HittersSimilar to some baseball players who hit more balls than deliver home runs; these entrepreneurs are contented with getting economic success in small ways. They could start a business, like a pastry shop for example, and then when it is already successful in the neighborhood, they would open a business that is similar to the first one, like a cafe or an ice cream parlor. They only target small communities and not the public as a whole. Remember the owner of Bills.com and PayCycle? Rene Lacarte still has other successful businesses in the online payment field, though, not big ones.
Home-Run SluggersThese entrepreneurs are not contented with small successes. FedEx owner Fred Smith is a good example of someone who aimed on making his business bigger, whatever happens. He would rather be loyal to one business, even if it were a failure, than make another business in the hopes of hitting a jackpot. The Home-run sluggers are often the ambitious ones with great business ideas.
ImplementersThese entrepreneurs are creative and resourceful by nature. They love action, which is not provided by tending a shop and waiting for customers to walk in. They would rather be in the physical world, fixing stuff and making the most out of their tinkering hands. Examples are individual contractors like carpenters and plumbers.
Follow-throughFollow-through entrepreneurs love making systems. They implement them to be followed by employees and themselves. These entrepreneurs are good in planning their success systematically, leaving nothing to surprises. One sign of being a follow-through employer is implementing a reward system in the business.
Fact-FindersFact-finders are the cautious lot. They depend on facts before making and finalizing decisions. Although this may be a good strategy to do things right, they might not be able to take risks in the future and ruin the possibility of success.
Realizing what type of entrepreneur you are is a crucial step in running a business. It could affect your leadership skills and management style if you know your strengths and weaknesses in the first place.
Most important is to take action. Start somewhere as internet entrepreneur even if it’s small. If your question is how are you going to make money? My reply will be, your business plan will convey the answer to that question. It you are determined, you will succeed in the opportunity that can change your future as long as you act on it. Internet business is 24/7 so you can work when you want and for as long as you want.
Many of the regular duties can be run on auto-pilot leaving you with more time for family, social and leisure activities. Internet offers a less stressful working environment, and to a certain extent you are in control of your own rewards. However, it is important to remember that there are rarely any true 'Get-Rich-Quick' schemes on the Internet. Look upon it in much the same way as you would if you were creating an offline business, which, in order to be successful, internet entrepreneurs requires commitment and a positive attitude right from the start.
Wish you well for the future.