Thinking about, and planning to become an entrepreneur in 2024

Approaching entrepreneurship broadly, it would seem like any small business owner can be considered an entrepreneur—and realistically, they can be. Typically, two major characteristics of entrepreneurship are risk-taking and forward-thinking. Risk-taking is the awareness that even though your business may not turn out the way you expect it to, you’re willing to try anyway. Often, this willingness comes from weighing the risks against the potential rewards. Forward-thinking is tied to innovation. Many times, entrepreneurship is fueled by the idea of creating a better future. This can come from a new product that changes the way people interact with the world; it can come from a new process that changes the way businesses interact with consumers; it can come from an improvement to the way a business operates within an established industry; or any other mechanism that can make business better. Entrepreneurship can be broken down into four different types that describe the organization or innovation driving the business. Four common types of entrepreneurship are small business, scalable start-up, large company, and social entrepreneurship. Forward thinking in 2024!