The Entrepreneurial Journey and Pathway

Entrepreneurship Overview

What Is an Entrepreneur?

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be successful in taking on the risks of a  startup (Links to an external site.)  are rewarded with profits, fame, and continued growth opportunities. Those who fail, suffer losses and become less prevalent in the markets.

How Entrepreneurs Work

Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land/natural resources, labor and capital. An entrepreneur combines the first three of these to manufacture goods or provide services. They typically  create a business plan (Links to an external site.) , hire labor, acquire resources and financing, and provide leadership and management for the business.

Entrepreneurs commonly face many obstacles when building their companies. The three that many of them cite as the most challenging are as follows:

   1. Overcoming bureaucracy

   2. Hiring talent

   3. Obtaining financing

My name is Ja’Niya Ladson. My learning goals for this course is learn how to create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. I also learn how entrepreneurs work. My hobbies are shopping, hanging out with my friends and family, and watching YouTube videos on wig making. I am majoring in Business Administration with a concentration in Entrepreneurship. I want to own multiple businesses.