There’s a lot of talk about entrepreneurship and more and more people are proclaiming themselves to be entrepreneurs. But what is entrepreneurship?

Entrepreneurship is about creating a business from scratch. It’s about having an idea and working on it through all the stages until it becomes a successful business.

Today, entrepreneurship is related to the idea of creating a service or product that revolutionizes the world, but an entrepreneur is anyone who wants to create their own business from scratch, whether their idea is revolutionary or not. In fact, one of the most common and profitable forms of entrepreneurship today are franchises.

Entrepreneurship isn’t always about creating a business to live off of. There are many people who start small projects in an effort to generate more income, often, passive income.

How to start

“It’s not just about opening a business and making money, there’s much more to it than that. It’s about working hard and living with the money that you worked hard to make”. Starting up isn’t as easy as setting up a business and starting to earn money. Far from it. Starting up is  about daring to start a business from the very beginning in order to make a living from the income generated.

Entrepreneurship is complicated. It takes many hours of dedication, very long work days and always being available it there are any setbacks. 

When starting and trying to make a business succeed, there will always be complications which can make you doubt your business and want to abandon it. This is one of the characteristics that differentiates true entrepreneurs from those who are not, consistency and perseverance to achieve success.

Many people wonder if an entrepreneur is born or made, i.e. whether is comes naturally or if it can be learned.  Evidently, it’s a combination of both, as there are people who have certain characteristics which make them good entrepreneurs, and others who must work harder and learn more to become successful. So what are these characteristics?

Qualities of an entrepreneur

Entrepreneurs must have many qualities in order to create a business from scratch and make it successful. After all, it is one of the most difficult processes in the business world. Some of the most important ones are: 

  • Perseverance: Any entrepreneur must persevere in their efforts to succeed in their own business. Undoubtedly, it’s the most important quality. Without it, it will be practically impossible to succeed. 
  • Enthusiasm: The best thing to do to succeed is to embark on something you have a passion for,  which will excite you and help you to grow. If the passion is there from day one, it will be easier to stay persistent and get closer to success. 
  • Imagination and talent: Being an imaginative person with an innate talent will help in being a successful entrepreneur as they are very valuable qualities to undertake any business. Although innate, these skills can be improved with good training, as knowledge in the sector in question will help us to be more imaginative and have better ideas for the business to prosper.

In short, it’s important to know that undertaking a business is a wonderful experience  process, but hard at the same time. If you persevere, you can succeed and make money, which is very rewarding.

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