• Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Thursday, June 12, 2025
Daily The Business
  • Login
No Result
View All Result
DTB
No Result
View All Result
DTB

How to become an entrepreneur?

Entrepreneurs have certain characteristics and personality traits to succeed or the ones who may be having an "entrepreneur gene" to make a mark in entrepreneurship

November 16, 2022
in Uncategorized
Share on FacebookShare on TwitterWhatsapp

Entrepreneurship is the ability to bring innovative ideas to the market as a product or service. In today’s world, particularly in the global post-Covid scenario, entrepreneurs have become synonyms to a country’s strength as they contribute to economic growth, leverage job opportunities, and introduce new and unique products and services to the public.

Some say that entrepreneurs have certain characteristics and personality traits to succeed or the ones who may be having an “entrepreneur gene” to make a mark in entrepreneurship. In other words, some people are just born entrepreneurs while the rest follow them to carve their niche and destiny. However, there are misconceptions about being an entrepreneur; most people believe that you need to be a school or college dropout, leave your current job, and hide in the mountains for you to have a ground-breaking idea.

None of that is true.

Entrepreneurship — a creative idea

As a way of life, entrepreneurship is undoubtedly a creative idea, but it can also be taught and learned because it comes from an untiring discipline along with a few skills to be mastered in the course of time. Traits like communication, good leadership, risk-taking, and confidence are necessary to be a successful entrepreneur. Nevertheless, all the above-mentioned skills can be acquired and mastered through a pool of resources.

From generating an idea to managing everything from finances to hiring and management to making it a well-established business, entrepreneurship is a bumpy ride. So, picking up some skills in high education is worth it. When one has learned the core skills of being an entrepreneur, the other elements fall into place.

Dubai is an incubator of start-ups and has become a global leader in supporting entrepreneurs to live their business dreams by providing incentives and assistance to open avenues for more like-minded individuals to invest in the country.

As of 2022, there are 582 million entrepreneurs in the world with varying education, opportunities, or experiences. However, they have been able to start a new business and do it well.

A report from Ernst and Young states that 33 per cent of entrepreneurs picked up their skills from working as an employee. In comparison, 30 per cent acquired the knowledge and expertise from higher education – not a vast difference.

Entrepreneurship — a team effort

Entrepreneurship is a team effort, not a solitary pursuit, and it can only be mastered via practical experience. Beyond the business skills that are simple to teach in a classroom such as finance, accounting, and economics, an entrepreneur needs human skills such as leadership and management which are best acquired through experience.

Examples of entrepreneurs are everywhere. McDonald’s was founded by an entrepreneur. Facebook was built by an entrepreneur. Coca-Cola was launched by an entrepreneur. Name a famous company, and there would be an entrepreneur behind it.

With genuine passion, challenging work, great ideas, and a knack for learning, anyone can build a business and become a success.

Four types of entrepreneurs

There are four types of entrepreneurs based on various business models being pursued:

Large company entrepreneurs are the ones who launch businesses within an already established business by acquiring or creating a new internal division. Examples include Facebook’s acquisition of Instagram and Google’s launching of Google Maps.

Small business entrepreneurs are the ones who open businesses with no plans for wide-scale expansion. Mostly, they open a single location and take on their own financial needs rather than reaching out to investors and expanding it for more revenues. Examples include local restaurants, gift shops, and independently owned retail shops.

Social entrepreneurs are the ones who vouch for societal change through their products and or services with the goal of creating a sustainable business aimed at solving a civic problem or addressing a social issue.

Scalable start-up entrepreneurs are the ones who start businesses with the clear intention of widespread, long-term growth. They are innovators who may often have a novel idea that shakes up a new market or launches it altogether. Examples include companies like Meta and Uber.

Traits of an entrepreneur

A true entrepreneur must possess the following traits to carve their destiny.

Leadership: As the company’s founder, you will lead the team from the front and make vital decisions not only to build and manage a team but to run the business in the long term also.

Adaptability: As the leader, you need to move swiftly if an idea is not working and find apt solutions to address the issue.

Fundraising: As a successful entrepreneur, you must have the resources or be able to generate funds to start your new business venture. You are expected to spend a fair amount of time and energy selling and seeking investment into your idea.

Collaboration & Networking: An entrepreneur must have valuable networking skills, besides time and effort, as it is among the prime requirements for setting up and growing a successful business. Network creation of like-minded individuals can go a long way in marketing your new business and staying motivated to cope with any challenges in the process. Collaboration and networking can also create opportunities to gain experience from other entrepreneurs.

Key to becoming an entrepreneur

There are many different paths you can take to become an entrepreneur. However, a good entrepreneur needs to focus on learning and growing; both from personal and professional standpoints while actively and purposefully working towards improvement. In general, these are the steps to be taken to become an entrepreneur.

Industry knowledge or niche: One of the most important steps for an entrepreneur is to find your specific niche or profitable skill. This is a fact that most people want to join the bandwagon of entrepreneurship, but they have little or no knowledge of the industry to get involved with. Most of the time your niche will be something you have worked in for years. Your current experience is a suitable place to start looking for you are calling as it will be helpful if you love your niche.

Market research: Available market research is another parameter that entrepreneurs need to focus on for analysing the area for having a thorough understanding of demand and needs. For example, if you want to open a food truck business in your hometown. You need to have a look at other successful food trucks ventures in your area. What are the choices and preferences of locals for a more-moderate place to eat or are they prefer a high-end restaurant? Finding the answers to questions like these, and more will be essential to your long-term success before venturing into the food truck business.

Education: There is a common myth in popular culture that successful, self-made entrepreneurs never graduate from college. The numbers, however, do not back this up. According to a team of researchers from Duke, Akron, and Southern California, over 95 per cent of entrepreneurs in high-growth industries have at least a bachelor’s degree. So, sector knowledge coupled with the acquiring of education is recommended.

Networking: When you have planned to execute the idea and convert it into a successful business, you must focus on networking with individuals who support your idea. Attend events and meet people who help you connect with prospective and willing investors. Seek guidance and advice from a mentor as you work out the details of your business’s operations.

Funding: Be clear about if you are accessing a loan and how to make ensure the payments cycle. Make sure you relate to the right people and businesses for accessing the loan and funds. Keep your business plan ready for prospective investors. Be prepared to address all the queries of investors regarding financial plans and benefits for you and the investors.

Build and test: You can get your idea validated if you build and roll out your minimum viable product and get an endorsement from your first potential customers. This will help you to understand what works and what does not as this trial is essential to the long-term success of your business. Use the feedback to help you make decisions about your company’s progression. Collect the data about the test run and implement changes for a polished product and business plan for targeted and intended consumers.

Scale your business: Take the money you have raised and allow what is needed to build and scale your business. As a tip, many successful business owners suggest starting with the end in mind to properly align your goals as you scale your business. Manage your cash flow accordingly, and you may see the growth that matches your initial dreams for the company or beyond.

entrepreneur gene

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonxosofutebol ao vivofutemaxmulticanaisonbethttps://bsport.fithttps://onbet88.ooohttps://i9bet.bizhttps://hi88.ooohttps://okvip.athttps://f8bet.athttps://fb88.cashhttps://vn88.cashhttps://shbet.atbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88
Share78Tweet49Send
Previous Post

Women entrepreneurs key to inclusive economic growth

Next Post

How to become an entrepreneur?

Related Posts

SBP-held foreign exchange reserves rise $167mn to clock in at $11.68bn
Markets

SBP-held foreign exchange reserves rise $167mn to clock in at $11.68bn

June 12, 2025
Federal ministers propose revision in e-commerce taxation framework to support SMEs - Technology
Business

Federal ministers propose revision in e-commerce taxation framework to support SMEs – Technology

June 12, 2025
Boeing shares fall 5% after Air India’s Dreamliner jet crashes
Markets

Boeing shares fall 5% after Air India’s Dreamliner jet crashes

June 12, 2025
‘Many killed’ as Air India plane with 242 on board crashes near India’s Ahmedabad airport
Markets

More than 200 killed as Air India plane crashes after take-off in Ahmedabad

June 12, 2025
Budget 2025 & Beyond: Why Solar with Livoltek Remains a Smart Investment for Pakistan
Business

Budget 2025 & Beyond: Why Solar with Livoltek Remains a Smart Investment for Pakistan

June 12, 2025
Rupee posts marginal decline against US dollar
Markets

Rupee posts marginal decline against US dollar

June 12, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Popular Post

  • FRSHAR Mail

    FRSHAR Mail set to redefine secure communication, data privacy

    126 shares
    Share 50 Tweet 32
  • How to avoid buyer’s remorse when raising venture capital

    33 shares
    Share 337 Tweet 211
  • Microsoft to pay off cloud industry group to end EU antitrust complaint

    47 shares
    Share 19 Tweet 12
  • SingTel annual profit more than halves on $2.3bn impairment charge

    43 shares
    Share 17 Tweet 11
  • Saudi Arabia Launches World’s First Self-Driving Flying Taxi to Transport Hajj Pilgrims

    43 shares
    Share 17 Tweet 11
American Dollar Exchange Rate
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy
Write us: info@dailythebusiness.com

© 2021 Daily The Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Advertise
  • Contact Us
  • Daily The Business
  • Privacy Policy

© 2021 Daily The Business

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.