Entrepreneurship is a term used to describe someone who organizes a business by taking on most of the risks and rewards. They do so by developing and launching new products or services, all while bearing the burden of the financial risks associated with the venture. It takes a certain level of drive, innovation, and risk-taking to be an entrepreneur.

There are many types of entrepreneurs. Some start small businesses, such as a coffee shop or boutique legal practice. Others are self-employed entrepreneurs, such as writers or YouTube influencers. Still, others are what we commonly think of when we hear the word entrepreneur—the guy or girl with a great business idea who creates a startup company to bring that product or service to market.

Successful entrepreneurs typically identify a pain point for a business or a group of consumers and seek to add value through their solution. For example, if people are struggling with making dental appointments, the entrepreneur might develop an online appointment system to make it easier for patients to schedule appointments.

Entrepreneurs can be found in every industry, and they can take on a variety of roles. Some are the inventors that launch startups to bring new technologies to the world, while other entrepreneurs may lead a team of managers or salespeople at an existing company to grow their revenues and customer base.

Some are also social entrepreneurs, seeking to find ways to help people or animals through their businesses. For example, some entrepreneurs are working to develop a low-cost, human-powered treadle irrigation pump for farmers in Africa.