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Entrepreneurs

Definition

Entrepreneurs are individuals who create new businesses, bearing most of the risks and enjoying most of the rewards. They are innovators who drive economic growth by spotting opportunities others miss.

Analogy

Entrepreneurs are like explorers setting sail on uncharted waters. They take risks (like braving stormy seas), face uncertainty (not knowing what lies ahead), but if successful they discover new lands (profitable business opportunities).

Related terms

Risk-taking: Willingness to take on significant risk while pursuing opportunity. Like our explorer deciding whether to sail through a storm or wait it out.

Innovation: The process of translating an idea or invention into a good or service that creates value. It's like the explorer's compass and map, guiding them to new opportunities.

Capital: Wealth in the form of money or other assets owned by a person or organization available for a purpose such as starting a company. It's like the ship our explorer needs to start their journey.