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What Are the Different Types of Entrepreneur Opportunities?
There are many ways in which a person might exercise his or her entrepreneurial skills. The three main types of entrepreneur opportunities include franchises, developing new operations within an existing organization, and forming a completely new one. Entrepreneur opportunities can mean anything from working on small projects or the development of massive new enterprises.
It is possible to find entrepreneur opportunities within an already established organization. People who do so are sometimes called intrepreneurs, or inside entrepreneurs. An intrapeneur takes initiative to identify and develop projects that help an organization meet its objectives or grow in new directions. Corporate social entrepreneur opportunities relate specifically to leading projects that enhance a company's performance in terms of social development and responsibility. Many companies today encourage different kinds of intrapreneurialship across all of their departments by offering training, advertising entrepreneur opportunities, and providing incentives.
Within a company, entrepreneurial activities — though appreciated — might not always translate into as much monetary reward as the contribution would have if it had been to one's own enterprise. On the other hand, the vast majority of new businesses fail, so the risk of starting one is quite high. For some entrepreneurs, franchise opportunities can help strike a balance.
Large franchises can provide entrepreneur opportunities that come with support, such as proven brand awareness, a large network of allies, marketing teams, industry-specific consultation, and many other benefits that would normally cost a great deal. In order to maintain its corporate image and to regulate product or service quality, the franchiser will normally require the maintenance of certain set standards. These restrictions may be seen by some entrepreneurs as too inhibiting while others might appreciate the guidance and sense of belonging.
There are different kinds of entrepreneurs. While all successful entrepreneurs are innovators and change-makers, and generally possess strong leadership qualities, there are very different ways to promote change and there are also different kinds of leaders. There are people who prefer to set out alone in establishing brand new ventures, who enjoy taking chances as well as the creative freedom of doing things their own way. There are others who prefer to lead within a partnership or a team, or within a large, stable organization. In deciding which type of entrepreneur opportunities to seek out, aspiring entrepreneurs should consider their personal tastes and whether or not the risk involved in starting one's own business is appealing.
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![Coffee houses are a popular franchise option for entrepreneurs.]()
By: volffCoffee houses are a popular franchise option for entrepreneurs. -
![Many entrepreneurs work outside of a traditional office environment.]()
By: arthurhiddenMany entrepreneurs work outside of a traditional office environment. -
![Entrepreneurs may work as a direct seller of products, such as cosmetics, from an established brand.]()
By: aviemilEntrepreneurs may work as a direct seller of products, such as cosmetics, from an established brand.
Discussion Comments
@Moldova - I agree and I think that the best home based businesses are those that you have a talent or qualification for. For example, a former teacher at my daughter’s school developed a tutoring business from home.
Her business was so lucrative that she was able to do this full time in the summer and eventually did this as a full time business leaving her teaching position.
@BrickBack- I agree and I think that if you can save someone time and go into a convenience business like dog walking you can really make a nice amount of money. The nice thing about this business opportunity is that you could work from home.
It also involves the opportunity for referrals from happy customers. If you live in an urban area with a lot of high rises you might be able to develop your clientele from the residents of those nearby buildings.
For example, a dog walker in my sister’s building earns about $20 per dog. He has a huge set of keys because everyone in the building recommended him.
There are really a lot of home business opportunities, but you just have to find something that you want to do and check out the competition in the area for those businesses.
Sometimes specializing in a niche market might make more sense if the market is saturated with competition.
@Sneakers41 -I think that the best business ideas involve solving the most common problems that people have. For example, businesses involving the weight loss industry do well because of the large number of obese people in the United States and all over the world.
These business ideas could include opening an exercise studio or fitness center. There are many businesses that offer fitness classes in the park and outdoor locations as well. This line of work is really endless.
You could also look into distributorship opportunities involving herbal supplements or vitamins. I think that anything that helps people become healthier has great potential.
I have to say that I really like the idea of opening a franchise. What I really like about it is that the franchise has a proven business model and track record of success.
They also offer training and support which is great. I think that the name recognition that the franchise has also helps to grow your clientele. They say that the success rates for people that own franchises are higher than those that start businesses from scratch. For me this is one of the best ways to learn how to start a business.
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