What is Entrepreneurship?
An entrepreneur is an individual who develops a plan for a new business and builds it out of nothing. A small-business owner takes most of the risks and, if they succeed, they also experience the greater share of the rewards.
Common definitions for an entrepreneur include those who are the source of new ideas and those who develop new products, services, procedures, or businesses. In short, they are an innovator.
By using their skills and knowledge, they are able to spot needs in communities and industries. This leads them to develop new ideas that they can turn into a business, and then they see them through to fruition. Many entrepreneurs are believed to succeed out of pure gumption but, if they have earned a college degree in business or entrepreneurship, they may also be using what they learned in their classes and internships.
Entrepreneurs who have earned their business degrees through a university or college of business should have the knowledge they need to successfully start and manage their new businesses.