Entrepreneur/ Inventor

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An entrepreneur is someone who discovers or creates a new or unique way of solving new or existing problems, is willing to take on a new enterprise or venture and assumes full responsibility for the associated risks. Entrepreneurs create new products or services, by identifying and exploiting new or existing market opportunities in any given sector.

The entrepreneur must be willing to take the personal, professional and financial risks to pursue these opportunities. Success as an entrepreneur is highly dependant on one's ability to successfully market a product, manage resources and manage a business. It is not just about creating a new product or idea but also the ability to sell your ideas.

Entrepreneurs:

  • Consider factors influencing product design such as cost, selection of materials, production methods, new technology, safety, ergonomics, the environment, marketing and business strategy
  • Conduct research to ensure functionality, feasibility and marketability
  • Search for or devise opportunities to promote their ideas
  • Prepares prototypes and samples
  • Manage resources to ensure profitability