An entrepreneur is defined as someone who seeks to make a profit from a business venture, such as a start-up, and who has the ability and determination to dedicate more than the average amount of their time and/or money to make their vision or dream a reality. Out of 16 different personalities, it takes a specific type called ESTP (Extravert, Sensing, Thinking, Perceiving) to have the entrepreneurial spirit and stamina required to see a project through from inception to reality. Successful entrepreneurs are people of action, not talk, and they have an innate ability to inspire and encourage everyone around them. An added bonus of having them in our society is the fact that businesses they create help to positively contribute to our economy as well as local communities.
Entrepreneurs introduce new goods and services to a marketplace and they, in turn, stimulate consumer spending, create jobs, and even benefit the people involved in any crossover businesses related to the new venture. Having more people in the workforce also means having an influx of income tax which gives the government money to help support programs that can benefit society.
Unlike large corporations who lean on outsourcing jobs to save money, small businesses tend to keep workers in-house, which supports the local population, as well as increasing the foot traffic for retail shops and restaurants nearby. Entrepreneurs are innovators, so another added benefit of developing new and/or improved products and services is their lack of constraints to old norms. Unlike existing, older businesses which may have already maximized their potential or become tied to a specific demographic, start-ups featuring new and improved goods and services aren’t tied to those same restrictions and thus have more flexibility when it comes to taking risks and reaching a broader customer base. People also experience a happier way of life when freed from a dependence on outdated methods so it’s also a boost for a population’s morale.
Entrepreneurs are forward-thinking and highly creative people. This means they don’t just care about making money, they also seek a purpose in life. The same qualities that make someone a successful entrepreneur also make them philanthropic. From a community standpoint, entrepreneurs are one of the most beneficial aspects of local society due to their support of local charities, economy-boosting endeavors, and their commitment to investing in other start-up enterprises simply because they possess a passion for helping others succeed.