Entrepreneurship

Marissa Mitchell
Apr 26
2 min read

Updated: Apr 26

Entrepreneurship requires initiative, hard work [working smarter, not harder], consistency, dedication, follow through, creating a personal growth plan, adaptability, servanthood....

(Marissa Mitchell Thoughts)

Entrepreneurship is the process of creating, developing, and managing a new business venture, often involving innovation and risk-taking to capitalize on market opportunities. It's about identifying a need or opportunity, developing a product or service, and building a sustainable business around it. Essentially, it's the pursuit of starting, managing, and scaling a business to achieve financial independence or create value. [1, 2, 3]

Here's a more detailed breakdown: [1, 2]

Definition: Entrepreneurship encompasses the entire journey of starting and growing a business, from initial idea to ongoing management. [1, 2]
Key Elements: It involves taking financial risks, combining innovative ideas and skills, and developing products or services that meet market demand. [1, 2]
Goal: The primary goal is to create value for a target audience and generate profits, leading to financial independence. [2]
Innovation: Entrepreneurship often involves innovation, either through creating new products or services or improving existing ones. [4]
Risk-Taking: Entrepreneurs must be willing to take on risks, both financial and personal, to pursue their ventures. [5]
Problem-Solving: Entrepreneurs are often seen as problem-solvers, identifying unmet needs and developing solutions. [6]
Economic Impact: Entrepreneurship can stimulate economic growth by creating jobs, increasing competition, and improving productivity. [6]
Types: Entrepreneurship can be applied in various contexts, including startups, small businesses, and even within existing organizations through intrapreneurship. [7]