Entrepreneurship generally describes the process of starting and operating a business, usually while taking on some amount of risk. The word entrepreneur first appeared in the French language in the 1800s and was used to describe “one who undertakes a task.” Many entrepreneurs start their businesses with partners or cofounders, but the concept of entrepreneurship typically evokes visions of sole proprietors who have chosen to strike out on their own.

Entrepreneurs are often celebrated as brilliant innovators whose creativity will shape the future. Typical covers of Inc., Fast Company, and Forbes magazine feature famous, successful entrepreneurs such as Mark Zuckerberg, Elon Musk, Steve Jobs, Richard Branson, Warren Buffett, and Oprah Winfrey. However, the vast majority of entrepreneurs are owners of small- and medium-size businesses who sell ...

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