It often takes more than a profitable idea to make a successful entrepreneur. Though ideas lay the groundwork for entrepreneurial enterprises, an element of courage is needed to accept the inherent risks and accountability that come with owning and leading a business venture. The excitement which is inseparably linked with risk can be enough for some industrialists to make a career out of something as commonplace as cookware.

Houseware businessman, Manny Gaunaurd was recently recognized by the journal HomeWorld Business for "having a critical impact on shaping the housewares business going forward," Reuters reports. The publication credits Gaunaurd with identifying Hispanic cookware and household gadgets as an emerging business with significant potential growth when he started his business, IMUSA USA.

Gaunaurd explained is entrepreneurial success stating, "My parents both left Cuba in their teenage years. Coming to the U.S. created a sense of urgency for success."

In four years of business, IMUSA USA sales have increase 200%, Reuters reports. With items appearing in mainstream stores such as Macy's and Sears, Gaunaurd's company has become the top-selling brand of Hispanic in the U.S.

According to the Bureau of Labor Statistics, 7% to 8% of the households in the U.S. are headed by entrepreneurs, who collectively own almost one-third of all wealth in the country.