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Entrepreneur

Starts and runs their own business — identifying opportunities and taking calculated risks.

Did you know?

James Dyson built 5,127 prototypes between 1979 and 1984 before getting his bagless vacuum cleaner right.

How subjects help

Business Studies: Write a business plan that sets out costs, prices and how to win your first customers.
Economics: Spot a gap in the market and set a price that customers will actually pay.
Psychology: Understand what customers want and keep a small team motivated through hard times.

A famous name

Oprah Winfrey: Built a media business from her talk show, founding the production company Harpo in 1986.

Try it yourself: Ask customers before you make it

Think of a small thing you could make or a service you could offer, like homemade bookmarks or a plant-watering service.
Write four questions, such as: Who would buy this? Are there other things like it? What would make it special? Would you pay 50p for it, and why or why not?
Ask at least three people you know and write down their answers, especially the "why".
Change one thing about your idea based on what you heard, and write down what and why.

Entrepreneurs and product managers talk to real customers before building anything, so they make something people actually want at a price they will pay.

Adapted from Young Enterprise: Fiver Challenge workbook (market research).

Also try: Plan a party on a budget.

Known for it in

USA, Singapore, Israel, UK, Estonia