Enterprise and Entrepreneurship Basics
Ever wondered why some people leave secure jobs to start their own businesses? Entrepreneurs are the risk-takers who organise resources, make tough decisions, and bet their money on new ideas. They're not just dreamers - they're action-takers who spot opportunities others miss.
Businesses exist for three main reasons: to provide goods (physical things like phones or trainers) or services (actions like haircuts or delivery), to meet what customers actually want, and to add value to existing products. Think about how Apple took basic mobile phones and added touchscreens, apps, and cameras to create something worth hundreds of pounds.
New business ideas don't just appear randomly. They usually spring from changes in technology (like how smartphones created the app industry), shifts in what customers want, or when existing products become outdated. Smart entrepreneurs spot these changes before everyone else does.
Key Insight: Successful entrepreneurs don't just have good ideas - they can organise resources effectively, take calculated risks, and make decisions quickly when opportunities arise.