The idea could be a new procedure or a new way to provide a service.
The product could be something simple such as a new type of hair comb or it could be a multi-part product such as a new electronic item.
An example of entrepreneur is Bill Gates.
An example of entrepreneur is a stay at home mom who comes up with a great idea for a new children’s toy.
An example of entrepreneur is an experienced business manager who decides to take the skills he or she has learned working for others and starts their own consulting firm.