An entrepreneur is an innovative individual who develops new products and services to meet consumer needs. Entrepreneurs are often motivated by a desire to achieve financial success, but may have other reasons for starting their businesses such as a passion to create, a need to express creativity or a drive to solve problems. They are often very independent and enjoy being in control of their own destiny.
People who start their own businesses are often described as entrepreneurs, although similar individuals in nonbusiness settings such as nonprofits and social movements are sometimes referred to as social entrepreneurs. Intrapreneurs who identify new business opportunities within existing companies are also often considered entrepreneurial.
Entrepreneurs often have a high degree of independence and must be comfortable with a higher level of risk as they assume full responsibility if their venture fails. They typically need a broad skillset to manage all aspects of their business, from marketing to finance to operations. Entrepreneurship is a valuable resource for the economy, providing large-scale employment and ways to generate income. It can also improve the standard of living for citizens by promoting economic development and introducing affordable, accessible goods and services that increase productivity.
Some entrepreneurs, such as Richard Branson and Oprah Winfrey, are known as serial entrepreneurs who parlay their early successes into a diverse empire that spans multiple industries. Others continue to run their businesses, but delegate day-to-day managerial responsibilities and focus on innovation and growth. Still others sell their businesses or merge them with other companies. The real Batman