Why is it important?
Path-breaking offerings by entrepreneurs, in the form of new goods and services, resulting in new employment, which can produce a cascading effect or virtuous circle in the economy. The stimulation of related businesses or sectors that support the new venture adds to further economic development.
According to data from a 2016 research done by Wealth-X, there are 585 billionaires in the US. Only 20% achieved this status through inheritance, while the huge majority are self-made. This is probably one of the biggest incentives for young entrepreneurs who are just starting up. The remaining 18% became billionaires through a combination of inheritance and hard work.
What’s more, 23% wanted to pursue their passion and 19% just did it because the opportunity presented itself. For 12% of entrepreneurs, corporate America was the biggest problem, while 6% decided to start their own business after being laid off. According to entrepreneur data, another 6% did it because they weren’t ready to retire, and 3% were inspired by various life events.
Earn The Freedom You Deserve
Entrepreneurs set their own schedules, priorities, and goals. Employees are told they need to be at their desk from 9-5, what their work priorities are, and what goals to meet at the next annual performance review. The lifestyle of an entrepreneur is self-directed. The lifestyle of an employee is prescribed. Learn about these and many more differences between entrepreneurs and employees.
The road to entrepreneurship is a challenging one, but it is also very fulfilling. Learn the tools that other entrepreneurs are using to be successful at making money online.
Create an Online Business
Learn the tools necessary to build an online business
The information from Balancefreedom.com is design to help you learn the different tools that can help you in being successful at making money online. This informative site centers on how to use email marketing, affiliate marketing, and content production to grow your business.