Entrepreneurship

The word entrepreneurship comes from the French language, from the word “entrepreneur” which means “pioneer” . At present, this word is widely used mainly in the business field to refer to the person or to groups of individuals who have decided to start a new company , a business or a project and contains a series of attitudes and aptitudes on the part of the individual to generate new ideas and opportunities.

Definition

The term enterprise is used with great force at present worldwide, although it has always been present throughout history , in recent years has taken particularly important because of the need to have the human being to overcome the economic problems . It is the ability of an individual to be able to make an effort in order to start a new company or a project . The word refers to the attitude and aptitude of an individual that makes it possible for them to start new challenges and innovative projects .

Characteristics of the enterprise

Among the main characteristics that can be found in the venture, we mention the following:

• It contains a series of attitudes and aptitudes
• Produces the generation of new and innovative ideas .
• It is widely used in the business field .
• It is a fundamental aspect in societies .
• Transforms knowledge into products new and interesting.
• The person who is in charge of carrying out and creating the venture is known by the name of entrepreneur .

Types

There are several types of entrepreneurship in society and these can be classified into different groups. Depending on its size, the following types can be found:

• Small businesses : these types of entrepreneurship are small businesses that are led by one or more individuals in order to generate and market goods and services.
• Scalable ventures: these are businesses that can expand markets without having to put great effort into improving products. It can be observed mainly in the field of technology and the digital field .

Depending on the degree of innovation that the venture has, then the following types can be found:

• Mirror entrepreneurship : these businesses are those that have the ability to imitate others or are those that can be based on producing a certain good or service that already exists in the market. Franchises are part of this group of entrepreneurs.
• Entrepreneurship by necessity : in this case, businesses are born due to the need that an individual has to make a change in his life or because of the search for a new way to produce economic income .
• Entrepreneurship by opportunity : includes all those businesses that, when they observe some type of failure in a business or in the market, take advantage of the opportunity to create a new product , more attractive to the client and that also does not have errors.

Finally, ventures can also be classified depending on the area or place in which they are developed , in this way, we can find the following types:

• Social entrepreneurship : in this case, businesses are responsible for innovating using different profitable ideas that also have the ability to cause a positive impact on society , the environment and communities .
• Digital entrepreneurship : in this case, businesses are created using the internet , and with this medium, they can produce their products and market them. It is a type of digital service in its entirety.

Ideas

The ideas that are part of the venture are a group of thoughts related to what a person or a group wants to offer. It also implies the way in which users can be obtained and the way in which the profits can be received. The ideas must include all the important and necessary aspects that will be part of the creation of the company as well as the decisions for it to be successful. Regarding ideas, there are several aspects that must be taken into account, among them the following are mentioned:

• Take into account the things that will be offered in the market , always looking for them to be innovative .
• The creation of products that are innovative and that also have the ability to meet the needs of customers to have a greater chance of success.
• You must find the characteristics of consumer habits .
• Investigate the companies that offer the same or a similar product to be able to analyze the best form of competition between them.
• If the product already exists in the market, then it will be necessary to devise a way to make it stand out from the rest.

Female entrepreneurship

Women have been able to play an extremely important role in the development of the economy of the countries of the world, their contribution is immense and also, it can be applied to many commercial sectors . Today, many of them have become empowered and have the ability to innovate and start their own business. The empowerment of women in economic and business aspects has been a key aspect to be able to achieve gender equality and to make societies more prosperous and inclusive .

However, there are also several aspects that turn out to be obstacles for female entrepreneurship to be successful. The discrimination in matters of gender , lack of support networks for entrepreneurs, proper management between the times set for life family and work are factors that can affect female entrepreneurship.

Failure in entrepreneurship

Although entrepreneurship is a very attractive topic for many, it is not a very simple task. There are several mistakes that can be made by entrepreneurs that will cause projects to fail, among them the following examples can be mentioned.

• Lack of experience of the entrepreneur in the sector chosen to undertake.
• An adequate business plan is not created , which is essential to be able to develop the enterprise.
• The prices that are established in the competition , investment, costs or forms of financing are not adequately analyzed .
• Do not use tools that make it possible to know the way in which the business is working.
• Many entrepreneurs don’t put the customer first .
• Waste of time in developing the strategies of sale and the product .
• The entrepreneur cannot adapt correctly with clients and the market .
• Lack of commitment .
• Poor management of cash flows.

Importance

Entrepreneurship is important because it is considered one of the best means that entrepreneurs have to achieve independence and to achieve a quality of life that is in line with individual expectations . Needs personal , individual and economic , are examples of reasons that show the importance of entrepreneurship.

It is one of the best ways for people to improve wages , increasing the growth of the personal economy , it also allows the market to evolve and grow by increasing labor demand . It is a means by which the quality of life of people can be improved and it also encourages the creation of different alternatives for customers, improvements in products and the production of new markets.

Examples

Some examples of entrepreneurship are mentioned below:

• Creation of a translation company
• Manufacture of perfumes and soaps
• Garden maintenance
• Furniture rental for events
• Web page designs
• Restaurants