LSA01: What it takes to start and run your own business

What or who is an entrepreneur?

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An entrepreneur is a person or individual who creates a new business, organises and operates a business or businesses, bearing a lot of risks (especially financial risks) in order to do so and enjoying most of the rewards when the business succeeds and makes a profit. The entrepreneur may do so alone or team up with other entrepreneurs to do so. Entrepreneurs are commonly known to be innovators. They bring new ideas to life, create innovative goods and services and the processes that make those goods and services.

Becoming an entrepreneur is not for everyone. But if you have decided to become one, knowing what kind of entrepreneur you are and what skills you require to be successful, is very essential.