Research
Entrepreneurs
An EntrepreneursPeople who start their own businesses. is someone who starts and manages their own business. Starting a business and making it a success is difficult, so it takes a certain kind of person.
Entrepreneurs come from all walks of life but are generally confident, enthusiastic, and innovative people. Famous entrepreneurs include Mark Zuckerberg, Elon Musk, and Oprah Winfrey.
TV shows such as Dragon鈥檚 Den and The Apprentice (once hosted by Donald Trump) celebrate the 鈥榚ntrepreneurial spirit鈥. Small and medium sized businesses employ the most people in our economy and, as they grow, create the companies that will drive our economy in the future.
Becoming an entrepreneur
It takes a lot of hard work to be an entrepreneur, and there is no guarantee of success. If you want to start a new business you need to do extensive research to answer the following questions:
- Do people need my product or service?
- How do I make my product or deliver my service?
- How much money will I need to start, and how will I get it?
- Will I need to employ staff? How much will this cost?
- How will I market and promote my product?
- How will I sell my product, in a shop, online or somewhere else?
- Where will I operate my business?
- What transport costs will I have to pay?
These are just a few of the things you need to know before you start. Get any one of them wrong and your business could be in trouble. You can already see that being an entrepreneur is no picnic.
So why do people do it?