An entrepreneur is someone who is prepared to sacrifice their own time, effort and money to turn a good idea into a marketable product. Entrepreneurs tend to be good at networking. They benefit from being members of organisation like the IET where they can learn best practice ideas from others.
It is not sufficient to just have a good idea. All start-up businesses need a well worked business plan. The plan should set out the objectives of the business, sales targets, marketing details and the main resources needed. An entrepreneur then needs to identify a suitable source of finance to start the business. For example, entrepreneur Levi Roots famously sourced finance for his business idea by pitching his business plan on the BBC’s Drangon’s Den. Mr Roots now uses his own life story to encourage pupils to commit to their studies and discover their passions. (BBC, 13th March 2013)
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