At WiseGEEK, we're committed to delivering accurate, trustworthy information. Our expert-authored content is rigorously fact-checked and sourced from credible authorities. Discover how we uphold the highest standards in providing you with reliable knowledge.
An entrepreneur is an individual who starts a new business and who is willing to take responsibility for all outcomes associated with a business. Entrepreneurs tend to think of new ventures that might sell goods or services and take the proper to steps to gain funding, prepare necessary business processes, and market and sell products. A professional who acts as a construction entrepreneur is an individual who starts new ventures in the construction industry. A construction entrepreneur may develop new architectural methods and construction practices, seek interested clients, and gather funds to hire workers and purchase materials.
A green construction entrepreneur is a construction professional who focuses on creating environmentally friendly structures. These buildings are often constructed on sites that are considered to be better for the environment because they may not interfere with natural life systems and may contribute less pollution. This kind of entrepreneur may also install utilities that run on alternative energy sources, such as solar power or wind. Methods of construction also may produce less waste and use biodegradable materials.
An architect entrepreneur is a construction professional who may focus on innovate construction. Structures designed by this professional tend to be unconventional and aesthetically interesting. This kind of construction entrepreneur may include new kinds of amenities and features in his or her design.
Construction entrepreneurs normally begin with an idea for a product or service. They may spend years fine tuning the idea so that they can determine which methods to use, how much funding is needed, and where demand for a service is highest. A construction entrepreneur, for instance, may watch to see where demand is for new development in a particular neighborhood, or may notice when an area lacks a particular type of business.
After determining these factors, a construction entrepreneur might write a business plan. This is a document in which he or she formalizes materials, labor, and finances needed to get a business off the ground. Business plans are often provided to investors who want to be sure that they are making profitable investments. Many investors like to see exactly where their money is being used and how long a project might take, as well as evidence of market interest.
It is common for a construction entrepreneur to use funding to hire labor. Contract workers are often used for the actual construction of structures. If an entrepreneur has a permanent staff, then salaries and percentages of revenues already may be determined. An entrepreneur who works alone may hire an accountant, project manager, or financial analyst who can assist in managing contracts and creating budgets.