Sixths Post

Entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.   

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits, fame, and continued growth opportunities. Those who fail, suffer losses and become less prevalent in the markets.

They are two types of entrepreneurs:

• Pure
• Indirect 

Pure entrepreneur

Defined as the one that initiates an enterprise not for an economical need, but because he detects an opportunity and feels patient for starting it.

Indirect entrepreneur

The indirect entrepreneur create a business due to the economical need and has a lack of resources.

What do I need to be an entrepreneur?

• Iniciative 
• Vision
• Tolerance
• Works in team
• Assertive

Which are de barriers for an entrepreneur?

• Money
• Society 
• Time
• Knowledge 

What is a CANVAS MODEL?

Is a clearly representation of your business idea on a piece of paper. This allows you to visualize your business model, detect weaknesses and test whether it can work.

Canvas Models contain 9 aspects:

• Customer value proposition: What’s compelling about the proposition? Why do customers buy, use?
• Customer segments: Who are the customers? What do they think? See? Feel? Do?
• Channels: How are these propositions promoted, sold and delivered? Why? Is it working?
• Customer relationships: How do you interact with the customer through their ‘journey’?
• Revenue streams: How does the business earn revenue from the value propositions?
• Key resources: What unique strategic assets must the business have to compete?
• Key partners: What can the company not do so it can focus on its Key Activities?
• Key activities: What uniquely strategic things does the business do to deliver its proposition?
• Cost structure: What are the business’ major cost drivers? How are they linked to revenue?