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Four basic aspects of being an entrepreneur

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Who is an entrepreneur? How can we properly define the term ‘entrepreneurship’? As an individual, how would you know if you are involved in the process of entrepreneurship or qualify to be called an entrepreneur?

There are four basic aspects or criteria that define entrepreneurship.

CREATION PROCESS:

 This is the act of creating something new that has value to both the entrepreneur and its intended audience or market. It could be a new product introduced into an old market, an old product introduced into a new market, or a different way of carrying out an already existing service (innovation). Every entrepreneur is involved in the creating of something, be it goods or service.

DEVOTION OF TIME AND EFFORT:

 Entrepreneurship involves devotion of time. Linda Ikeji some weeks ago wrote, “November this year will make it eight years that I have been blogging. Every single day!” Entrepreneurship is not your daytime job that has an opening hour and a closing hour. You never stop thinking about your business, you sleep with it and you wake up with it.

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