Entrepreneurship is capacity to develop and manage business and their risks to make profit. It is process of discovering various ideas to create opportunities and reduce the possibility of risk in business. It is neither science nor an art rather it is a practice. Entrepreneurship practice is the capacity that one has to live for few years that most of people won’t and will have their life like most people can’t. Entrepreneurship is the idea to think differently so that one can generate idea to create opportunity within the problems through various researches and planning. Entrepreneurship is all about innovation and achievement.
Entrepreneurship is the process of starting a business. Entrepreneurship helps to generate entrepreneurs. The entrepreneur develops a business model, manages resources and is fully responsible for success or failure. They develop a level of expertise as they are directly linked with what they have to do. They are the ones to carry out leadership and managerial duties in an organization or business. They see opportunity in problem. The problem may be of any type that we see in our everyday life; lack of electricity, transportation, healthcare and many more. These problems that we experience, read or hear in any area could become an entrepreneurial opportunity. For the problem solver, harder and larger the problems are, greater will be the resulting opportunities. Entrepreneurship helps in creating such problem solver as it is the combination of new idea, risk analysis and organizing aspects.
The larger the problem, bigger the opportunity is. Many people having same problems helps in creating the entrepreneurial opportunity. At present when there is a risky situation to be jobless even after graduation entrepreneurship can be one of the best alternative although it is enormously risky as one has to shift resources from area of low productivity to areas of higher productivity. So one must be fully dedicated and has to do detail research to put his hand in the field of entrepreneurship. Entrepreneurship can help make own dreams come true rather than following any other idea. To become a successful entrepreneur one must have an experience as an employee and obviously optimistic with higher knowledge and innovativeness. Being an entrepreneur is basically selling your idea such that investors can’t stop themselves to fund you. The entrepreneur is concerned with need for achievement only.
Entrepreneurship is doing things in a new and better way by decision making under uncertainty. It is the tendency to achieve success in situations involving an evaluation of one’s performance in relation to some standard of excellence. A person who is to become an entrepreneur must have more than the drive to earn profits and a mass wealth. They must carry the works that a society accepts and bring change rather than conflict. So one must develop these qualities and build essential assets to execute the ideas to become a successful entrepreneur.