On the opposite end of the spectrum, entrepreneurs can take on lifestyle ventures and become serial entrepreneurs. An entrepreneur is someone who takes on an entrepreneurial venture to create something new that solves a problem; small business ownership and franchising are also entrepreneurial options.

Establishing an entrepreneurial vision helps you describe what you want your venture to become in the future. Entrepreneurs can remain in a full-time job while pursuing their ideas on the side, in order to mitigate risk.

entrepreneur — someone who identifies an idea that no one else has acted on or identified; small business ownership and franchising are also entrepreneurial options. entrepreneurial vision — idea of what an entrepreneur wants a venture to become, what it will look like, what the driving forces are, and what values and culture should surround it. lifestyle venture — business whose founders’ primary focus is the lifestyle they will attain through becoming entrepreneurs, rather than a primary interest in financial rewards. entrepreneurial venture — any business, organization, project, or operation of interest that includes a level of risk in acting on an opportunity that has not previously been established.