Business Entrepreneurship

3 Common Approaches to Entrepreneurship

How do you know what business is “right” for you? There are three common approaches to entrepreneurship:

Do what you know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.

Do what others do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.

Solve a common problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.

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