What is the role of an entrepreneur?


Quick Answer

Entrepreneurs start their own businesses. They help contribute to the economy by employing others and generating revenue. Entrepreneurs see opportunities created by market demand. Anyone can become an entrepreneur.

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What is the role of an entrepreneur?
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Full Answer

Often, people become entrepreneurs by monetizing their passions. Many people have hobbies they turn into successful businesses. They create a product and place it for sale on websites. Alternatively, they market their products to other businesses to make money. Ultimately, they start by having a product that others are willing to buy.

Entrepreneurs are different from other people. They see opportunities where others see a waste of time. Also, they can overcome obstacles that stand in their way. The following are a few other qualities entrepreneurs have that set them apart from others: confidence, creativity, open-mindedness, passion, ambition and analytic. Although the list is not exhaustive, it highlights what makes entrepreneurs unique.

The risks associated with becoming an entrepreneur are that starting a business is risky. In order to improve their chances of success, many entrepreneurs continually scan the market for threats and opportunities. Even when they hit stumbling blocks, they learn the lesson and move forward. The best way to reduce the risk of failure is through research and understanding the market.

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