Founding the business entity is the first of many steps in the journey of entrepreneurship, defined by TECHdotMN as:
“The process of creating a for profit business entity to addresses the inefficiency, explicit problem or implicit need in the market with mutual economic value exchange between owners and customers. It involves sourcing, organizing and allocating the necessary resources, while assuming both the risks and rewards associated with the endeavor. Entrepreneurial success is measured by positive financial Return on Investment (ROI) over time.”
This is not the only definition of entrepreneurship, it’s the one we subscribe to and share with our audience because having an articulated meaning of such an important word is better than none at all.