Open Access

Entrepreneurship

Entrepreneurship can broadly be defined as the creation or extraction of value. With this definition, entrepreneurship is viewed as change, which may include other values than simply economic ones. Entrepreneurship is the ability and readiness to develop, organize, and run a business enterprise along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses. While entrepreneurs must deal with a larger number of obstacles and fears than hourly or salaried employees, the payoff may be far greater as well.

Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit.

However, as a basic entrepreneurship definition, it’s a bit limiting. The more modern entrepreneurship definition is also about transforming the world by solving big problems. Like initiating social change, creating an innovative product or presenting a new life-changing solution.

What the entrepreneurship definition doesn’t tell you is that entrepreneurship is what people do to take their career and dreams into their hands and lead it in the direction of their own choice. It’s about building a life on your own terms. No bosses. No restricting schedules. And no one holding you back. Entrepreneurs are able to take the first step into making the world a better place, for everyone in it.