Entrepreneurship is the capacity to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. 

To start your own venture it is important to learn from your failures, should be able to solve problems and do a bit research from the ones experiencing it.

An entrepreneur, more than a salary earns profit for himself and his employees. It depends on the type of business you have and accordingly the salary/profit can be assessed. Initially you can expect a salary of 3-5 lakhs per year approx and later it can be analysed whether the profit will increase based on demand and supply.

Entrepreneurship as a profession gives a great sense of independence & remarkable amount of job satisfaction. Go ahead with it!

Good Luck.