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An entrepreneur is someone who starts a new firm, incurring the largest number of risks and reaping the majority of the gains. Entrepreneurship refers to the process of starting a business. The entrepreneur is mostly seen to be an innovator, someone who provides new ideas, products, services, and business operations.
Entrepreneurs play a crucial role in all economies because they have the capability and initiative to foresee requirements and bring brilliant new ideas and goods to market. Entrepreneurship that succeeds in taking over the risks of launching a business is rewarded with revenues, fame, and chances for ongoing growth. Entrepreneurship failure results in huge losses and diminished market share for individuals concerned.
Types of entrepreneurs
Not all entrepreneurs are the same, nor do they have the same objectives. Here are a few examples of different types of entrepreneurs:
Builders aim in establishing a scalable enterprise in a short span of time. Builders often generate $5 million in income within the first two- to four-year period and continue to grow until they reach $100 million or more in revenue.
These individuals attempt to establish a robust infrastructure by attracting the greatest staff and investment. They have turbulent personalities that suit their goal for rapid advancement but can end up making personal and commercial relationships difficult.
Opportunistic entrepreneurs are usually optimistic individuals who can identify financial possibilities, engage at the right pace, stay on board during growth, and depart when a firm reaches its pinnacle.
These entrepreneurs are preoccupied with earnings and the riches they will produce, thus they are drawn to ventures that might provide residual or renewal revenue, for instance, revenue being generated on a platform like dissertation proofreading service UK along with providing exceptional services and opportunities to the students. Opportunistic entrepreneurs might be impulsive since they are hunting for well-timed opportunities.
Innovators are those exceptional individuals who come up with a brilliant concept or solution that no one else has considered like sociology dissertation help service providers to assist university students in their dissertations. Consider the names Steve Jobs, Thomas Edison, and Mark Zuckerberg. These people pursued their passions and discovered economic possibilities as a result.
Rather than focusing on income, innovators are concerned with the social effect of their goods and services. These folks are not the greatest at operating a business since they are idea generators, thus they frequently delegate day-to-day activities to those who are more adept in that regard.
This idea is followed by many dissertation help service providers for students to achieve success in their university assignments and grades.
These people are analytical but risk-averse. They have developed a strong set of skills in a certain field like on business management dissertation topic through study or apprenticeship. A specialized entrepreneur will expand their firm through connections and referrals, which will result in slower development than a building entrepreneur.
Some of the world’s wealthiest and most powerful entrepreneurs have dropped out of their colleges.
Steve Jobs, Mark Zuckerberg, and Bill Gates all dropped out of college before receiving their degrees. Peter Thiel further encourages brilliant kids to drop out of their college by establishing a scholarship that pays out $100,000 if they drop out.
Are college dropouts effective business owners (Buenstorf, Nielsen, and Timmermans, 2017)? While staying in college as long as feasible has been shown to boost your income and future career opportunities, these ten great entrepreneurs defied the odds and still succeeded.
Apple’s creator dropped out of Reed College at the age of 19, apparently because it was proving to be a financial hardship for his family. Despite his brief employment at Reed, Jobs valued his time there. In his Stanford graduating speech in 2005, he gave credit to a Reed calligraphy workshop for inspiring the typeface he used on the original Mac.
Julian Assange had studied the subject of mathematics at Melbourne University before becoming a notorious computer hacker. The Australian Wikileaks founder demonstrated early anti-establishment sentiments when Julian dropped out of university at the age of 19, due to disagreements with the practice of students who work on computer studies projects for Australian military.
Bill Gates had attended Harvard for a period of two years before quitting to establish Microsoft. The Harvard Crimson calls him “Harvard’s most successful dropout,” and he is now the world’s wealthiest person.
The shopping mode Microsoft founder, who is believed to be worth $80 billion, is the world’s most successful college dropout.
Evan Williams did grow up on his family’s farm in Clarks, Nebraska. He dropped out of Nebraska University in Lincoln after three semesters.
Before joining Google, Williams worked as a freelancer as a software programmer at Hewlett-Packard and Intel. He then left Google to found Twitter and became a millionaire.
Mark Zuckerberg addressed the Harvard Crimson in the fall of 2005, “I’m not coming back.”
Zuckerberg dropped out of school to focus on his business thefacebook.com. Today, this Harvard dropout is valued at about $34 Million, and the business he built is worth over $200 billion.
Larry Ellison is one of history’s most inspiring rags-to-riches stories. He also got dropped out of two institutions before moving to California: the Institute of Illinois @ Urbana-Champaign and the University of Chicago.
He started Software Development Laboratories (SDL), which ultimately became Oracle, in 1977. Ellison’s net worth is estimated to be $54 billion.
Simmons dropped out of the City College present in New York to support local bands such as Run-D.M.C. and Kurtis Blow.
Simmons along with Rick Rubin created Def Jam Recordings in 1984, which was the start of their hip-hop empire. Simmons and the Rush Communications Company have now established the “Phat Farm apparel brand, television series, a management firm, a magazine, and an advertising agency.”
Michael Dell enrolled at the University of California in early 1983 but spent his days in his dorm room updating and selling computers.
Shopping mode at 19 years of age Dell founded PCs Ltd that would later become a shopping mode. Dell Computer Corp. was founded in 1987. At the age of 27, Dell was the chairman of the company on the ‘Fortune 500 list’ by 1992. Today, his net worth is estimated to be about $20 billion.
WhatsApp’s creator previously spent nine years working for Yahoo. That’s why Koum left San Jose State University, where he had been studying mathematics and computer science.
“I despised school anyhow,” Koum told Forbes. According to reports, Koum stepped away with a tidy $6.8 billion after Facebook purchased WhatsApp. As the most widely utilized platform across all age groups, social media has enormous potential to expand businesses while also accommodating a wide range of people’s requirements and preferences (professionalessayservice, 2019).
While still a student at UCLA, Kalanick co-founded his first company, Scour, an online file-sharing service. He left UCLA in January 1998 to work full-time at Scout.
In 2000, the firm declared bankruptcy and founded RedSwoosh, another file-sharing company.
That didn’t seem to stop him from starting new firms. Kalanick is currently most known for establishing Uber, which has increased his net worth to over $6.8 billion.
Apart from the entrepreneurs, there are many hollywood celebrities who went to harvard. Many celebrities have attended universities before entering the realm of celebrity (putting the general stereotyping that all celebrities are usually considered college drop-outs into pieces).
Many famous people have attended prestigious universities such as Harvard. The majority of those celebs who attended Harvard University are the same people we all follow them on Instagram and Facebook! (professionalessayservice, 2021).
To name a few are Mr. Conan O, Brian, and Rashida Jones.
Brian (a comedian) is among the celebs that attended Harvard and finished with getting a degree in the American history and the magnificent distinction “magna cum laude,” which reflects the academic high level of success.
He spent most of the academic career composing a one-of-a-kind thesis on the subject of literary progeria. He was the leader of a Harvard Lampoon, a satirical magazine.
Conan was always the life of the party, which comes as no surprise. Not only that, but he also went on to establish the band Bad Clams and create the computer game “One on One.”
Jones is another renowned person who attended Harvard University. She has a degree in theology and philosophy. Rashida Jones, who is also a member of Black Students Federation. She had a passion for performing since she was at university, and she continued to participate in dramas and plays.
She went through several auditions, but success never came until one day, as she was returning to the university, she was given a position in the biggest SITCOM of all time, The Office. Destiny has its own rules.
Unlike established occupations, where there is typically a clear path to take, the journey to entrepreneurship remains a mystery to many. What may work for one business owner may not work for another, and vice versa.