Entrepreneurship 101

Entrepreneur is a word that is used so broadly nowadays. We hear this word used quite often but what is being an entrepreneur really?

In technical terms, “An entrepreneur is someone with a market-driven pursuit of a conceptual idea, who seeks a viable business model that succeeds in a target market” (Jan Schaffer). In other words an entrepreneur is someone who is willing to take a risk but a calculated risk to achieve an idea of theirs successfully.

Another word that is similar and is often mistaken as the same thing is an intrapreneur. In technical terms, “An intrapreneur is an employee who innovates and thinks entrepreneurially to develop new lines of business, programs or products within an existing organization or corporation” (Jan Schaffer). This is someone who works like an entrepreneur but gets to do this within an already established business.

Growing up I was always coming up with new fun ideas for a business or a new creation. Often I would do this with my mom and till this day we still both do this. Now that I am emerged in an environment that is teaching me how to succeed in being an entrepreneur I know that I can turned these ideas of mine into reality.

I know that in the world we live in things are constantly changing and if you want to be an entrepreneur you have to be able to keep up with all the new and latest social media platforms and be up to date on all the new technology. This is a key thing in being successful in this business. In this article about entrepreneurship it talks about how you must constantly change in order to continue growing your business. “Change To Grow: A desire to increase customer base, improve performance, or pursue expansion strategies requires entrepreneurs to change. The appetite for success is ever-present” (Gregory Wallace).

I also know that you have to work hard in the world of entrepreneurship. That being said even though I want to eventually have my own successful business, I think it would be a good idea for me to begin as an intrapreneur. This way I am able to gain strong experience as an entrepreneur but with the support of others and being able to work with other in this industry.

As intrapreneur you are able to perform projects as an entrepreneur would but with fewer personal risks according to another business article. An intrapreneur is someone”…who uses entrepreneurial skills without incurring the risks as­sociated with those activities” (Nimisha B). This is one of the reasons why I think I want to begin as an intrapreneur and eventually become an entrepreneur in the future. I know I will achieve my goals the more experience I gain in the world of entrepreneurship.