Understand the term Entrepreneur and Entrepreneurship

Entrepreneurship is the best idea to cope with unemployment now a days. Any person who wants to start a business must understand what is involved in becoming an entrepreneur  and what the necessary conditions of an entrepreneur are.

Here I will discuss the skills and personal abilities required to become an entrepreneur  and the difference between being an entrepreneur and being an employee.

Difference between an entrepreneur and an employee

Entrepreneur

• An entrepreneur creates his/her own work 
• An entrepreneur sets his own working hours and holidays 
• An entrepreneur is directly responsible for the success and failure of the business 
• An entrepreneur sets his/her own salary and benefits  
• An entrepreneur defines hid/her own work schedule and tasks.

Employee

• An employee receives a fix salary on regular basis 
• An employee completes the work specified by his/her employer  
• An employee works a set number of hours and gets a set number of holidays 
• An employee is not directly responsible for the success and failure of the business.

See the difference between an entrepreneur and entrepreneurship.

Entrepreneur

A person who starts a new personal business to make a profit and/or to create a social impact is known as an entrepreneur.

Entrepreneurship

The process/act of starting a new business and accepting its responsibilities is known as entrepreneurship.

Advantages of being an entrepreneur

•  You can create a job for yourself and possibilities of creating jobs for others.
• Set your own standard and business goal.
• Unlimited earning potential depends upon hard working.
• Flexibility of working time and location.
• Personal growth and achievement.

7 Necessary qualities for an entrepreneur

To become an  entrepreneur you should need be:

1. Self-Confident
2. Hard-work
3. Energetic
4. Responsible
5. Creative-Minded
6. Can handle risks
7. Independent

7 Necessary abilities for an entrepreneur
As an entrepreneur you need to be able to:

1. Tolerate uncertainty
2. Negotiate with and influence others
3. Find and solve problems
4. Be innovative and unique
5. Evaluate Potential opportunities
6. Choose quality standard
7. Choose and achieve goal

If I have missed anything then feel free  to mention that in the comment box below.