The capacity and willingness of creating and managing a business venture under uncertainty and risk conditions to make a growth or profit is called entrepreneurship. The person invests money, time and energy for his/her business in the hope of greater rewards and benefits. "Nothing ventured Nothing gained". Employees work for someone but entrepreneurs work for themselves.
However, before the start of your business, you must have a good idea to consider the pros and cons of being an entrepreneur. Genuine person wants to become an entrepreneur for making own rules and social contribution than only reward of greater wealth.
Acceptance of success or failure, unexpected obstacles, and financial insecurity are some risks of own venture entrepreneurship so you must spend more time and do hard work for your business.
Business can not grow up immediately, most of successful or prosperous business have some failure history.
For instance, Jack Ma, The Co-founder of Alibaba Group, who has lots of unsuccessful history, during his middle life, had applied more than 30 job interviews but got rejected. He had applied 10 times in Harvard University but got denied. After more than 40 times of failure, he began his own start-up which was a small online business in China after doing long research along with very small investment. During the starting phase of Alibaba, he was not able to generate any sort of income for 2 years but instead he got lots of negative comments from customers. He did not back down from the dreadful circumstances and took those negative review has sources of inspiration. He had a sharp quality to understand the need of customers and implement it oh his products and services. At this time, Alibaba group is one of the biggest B2B manufacturer, supplier, exporter and importer business company in the world. So successful business is result of perfection, hard work, learning from failure and mistake, loyalty and persistent.
As in the past, present-day entrepreneurs pay attention to social trends to attract customers. To be successful in today’s business world, most entrepreneurs use the Internet in some way. In fact, more and more companies are making the Internet their primary business resource.
Another contemporary trend is running a business in ways that are friendly to the environment. A green company is one that adopts business practices aimed at protecting or improving the environment.