Entrepreneurship is the life’s greatest opportunity to transcend the barriers of fear and limitations. It helps one to believe in the virtues what society calls as absurd.
How Entrepreneur differentiates from a Manager or an Employee
Entrepreneur takes a Risk to create some economic or social value while a manager employee manages that risk for the Entrepreneur.
Who is an Entrepreneur and What is Entrepreneurship ?
An Entrepreneur is an Innovator who has a rich source of new ideas and takes risk to create Innovative Product, Service or Business. The process of setting up a business is known as Entrepreneurship.
Economically, the term Entrepreneur is used for a person or an entity who or which can:
- Create great products and services from Inventions
- Use Technology to create Services or Product (even without IP)
- Create Services or Product even without the use of any Technology
- Or in many cases, just reinvent the wheel (For Example, a Franchise Model, or a Retailer, a Street Food Vendor, a Shopkeeper – they are all Entrepreneurs)
In this sense, Entrepreneurship is defined for all of the below:
- Existing Businesses (Family Holdings or Generation Run Businesses. Example – Restaurant, Hotel or any Franchise Model)
- New Businesses (Without Innovation or IP, that create Value by using the current business models. Example a regular IT Company offering Web Development Services)
- New Business (With Innovation that create Value from new ideas. They create a new way of doing and create innovative solutions to existing problems but do not create IP. Example: Typically Service Industries, Hotels and Media Houses, E-commerce Models )
- Large Scale Industry Disruptors / Brand New Category Creators ( Example, Red Bull created a new category of Energy Drinks, Smartphones Giants like Apple, AirBnB, Amazon, Social Media Innovators all created disruption in their own field)
This 7 News Spotlight Documentary showcases the million-dollar Teenage Entrepreneurs – the youngsters with big dreams and even bigger success stories.
Starting with nothing from as young as 8 years old, they’ve overcome massive hurdles to build their own businesses – and they’re booming! They have big dreams and even bigger success – Watch the Video and get Inspired.
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