Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world. Simply put, entrepreneurship is the willingness to start a new business. Entrepreneurship has played a vital role in the economic development of the expanding global marketplace. An entrepreneur is someone who is willing to work for himself and by himself. There are several different meanings of the term entrepreneurship. Skills Required by Entrepreneurs An entrepreneur is commonly seen and perceived as an innovator. The skills required for successful entrepreneurship are innovation and ability to be creative to generate new ideas for a business venture. An entrepreneur must have the quality of leadership and a strong sense of unified teamwork to gain maximum benefit. Kinds of entrepreneurship The majority of the people may think that the term Entrepreneurship has one single meaning. However, like mentioned earlier, the term is quite elastic and has a wide range of different meanings. The two most popular kinds of entrepreneurship are entrepreneurship of start-ups and entrepreneurship of small businesses. Flexibility The advantage of having maximum control on the work you do can often help you gain maximum benefit. Being the authoritative figure at your workplace often leads to a lot of personal and professional benefits. Flexibility is one of the perks that people often look for in their professional careers and in entrepreneurship this advantage comes easily. Diversity One excellent aspect of entrepreneurship is that all entrepreneurs enjoy the advantage of coming up with diverse ideas that may also be unique in the global marketplace. Having a diverse range of ideas to choose from, according to your entrepreneurial vision, you can gain maximum benefit from the ideas you come up with.