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Importance of entrepreneurship
Owning and starting a business
Importance of entrepreneurship
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For some people, being the boss, and which by boss I mean business owner, would be the greatest thing ever. Most think you get to pick your own hours, make the most money, and make everyone do the things you want done. Of course there is work involved and it takes work to make it but the rewards will be better owning a business that succeeds. The ultimate goal is becoming a millionaire and retiring at the age of forty and just drawing money from business production. However they really don’t understand the work it takes to make it a million dollar company. When these people are finally able to own a business they get a rude awakening. I am in no way trying to offend the typical business owner when I say, owning a business can be a challenging task that can cause many complications in your life and if you’re not careful they can change your life entirely. Over the last eight years I have watched my Aunt and Grandfather start a completely new hospice. My aunt is the main boss of the business, my grandfather just put in money so that she was able to actually start the business. Over those last eight years she has had some of the roughest times in her life. Being a single mother is hard enough, but then to start a business from scratch made it much more difficult to not only raise a family by herself. My aunt has had many problems in the last eight years and her business is now getting to the point of choosing what she does. I see some teenagers saying they want to own a business when they get older, but they only think of the money they can earn, the people they can tell what to do, and the fact that they can work when they want to work and no one can tell them otherwise. My aunt has put in more work to her business in the last eight years than I have done homework assignments in my school career. When one owns a business, they must work constantly because there is always something that needs to be done. Whether there is a problem to sort out, bills to pay, or numbers and accounting paperwork to figure out, there is always something that they must do. I can remember staying the night at her house staying up late and playing video games while right down the hall she was in the office still working on paperwork at one and two in the morning.
Therefore, they tend to think their day fruitless if they didn’t “create” or “complete” something. To combat this, they sometimes begin micromanaging the employees working under them. This in turn prevents the employees from doing their jobs as they should and upsets the productivity of the company. Theodore Roosevelt once said this about the dangers of micromanaging, “The best leader is the one who has sense enough to pick good men to do what he wants done, and then the self restart to keep from meddling with them while they do it.” Therefore, since they understand the role they play now and refuse to meddle or micromanage, a good leader redefines their personal standard of a good day’s work. They understand their day will look different than when they were on production, but that’s
As with many small business owners they vision of their business usually only extends to their own abilities. They are driven and full of determination and believe their abilities will be able to sustain the business to success. Unfortunately, many small businesses lack the knowledge to be able to effectively be owners’ and leader’ to their organizations.
Dr. Sutton highlights what it takes to be a good boss. People that work for a good boss are 20 percent less likely to have a heart attack (Sutton, 2010). Dr. Sutton wrote that teams with stronger leaders cost the company less money and achieved their work better (Sutton, 2010). Engagement and performance of employees were based upon their direct boss and not if the company was good or bad (Sutton, 2010). Most bad bosses have employees who have check-out: actively disengaged, and undermine their co-workers accomplishments. Managers have to find the balance between performance and humanity to be successful. Performance is about doing everything possible to help followers do great work; while humanity is about employees experiencing dignity and pride. Treating managerial work as an endurance race instead of a sprint race with small wins will lead one to becoming a good boss called grit by Sutton. Sutton believes that good bosses walk a constructive line between being assertive and not assertive enough with guidance, wisdom, and feedback that he called Lasorda’s law (Sutton, 2010).
What is a leader? What is a boss? These are two similar words that mean two different things. A leader will inspire, drive, and uplift. A boss will speak, command, and yell. Our businesses and leaders should be more like a leader and less like a boss. The four points of leadership are kindness, positivity, generosity, and a higher sense of purpose. Business nowadays has strayed from these four points, they are chasing money and are out for themselves. Companies are outsourcing and are not looking out for their employees. My vision is for an America that will remember these four points and become great leaders. This generation of kids is losing the true leadership of the past. It is our job to bring it back.
Getting the title the boss of the bosses is clear that Mucci has already made a grand entrance on the view and thoughts of people who work with him. They see him as a leader and have not only high regard for him but speak very highly of him. A company needs a leader who has skills to spur and propel it to achieve its objectives and succeed in the market. Martin Mucci Leadership at Paychex In other directions, Mucci aims to impact on the workforce by getting results.
I spent the majority of my childhood in the family's printing factory. Despite barely making ends meet ourselves, my father always cared for his employees' families by covering their healthcare and education. He taught me the purpose of business was to make a positive impact on your community, environment and to the world.
Leadership is defined as ‘the process in which an individual influences the group of individuals to attain a common goal’. The goal is achieved by cooperation, communication and cohesive behaviour. A leader is someone who stands for his cause and takes responsibility, but can also motivate others to do the same. There is a clear difference between being a boss and a leader. A leader can motivate others and inspires them to aim high and achieve anything they set their minds to. However a boss plays more of a supervising role. Power should naturally come to a leader but that power should be treated with respect and never be abused. A good leader should;
Owning a business is very difficult. It takes hard work, determination, and knowledge. “Running a business is one of the most rewarding — and most challenging — endeavors for entrepreneurs” (Owens, 2010). My goal is to start my own business and turn it into a multi-million dollar company. Achieving this goal will be difficult, but with the help of God, I will be able to do so.
A major challenge of doing business internationally is to adapt effectively to different cultures. Steve Kafka, an American of Czech origin and a franchiser for Chicago Style Pizza has decided to expand his business to Czech Republic. This is a risky decision and Steve anticipates he will face obstacles as he goes about setting up the new pizza outlet at this new location, Prague.
I think that work place should just be a place to earn a living and nothing more when you start mixing business and pleasure you start to forget what you are there for. Like my granny always says “never have a honey where ya make ya
Owning Your Own Business There are many advantages and disadvantages when owning your own business. When you own your own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages. Five advantages to owning your own business are: 1) The owner receives all profits, meaning that all earnings go to the sole proprietor, or the owner, and isn’t shared with anyone else.
Starting a small business is often one of the hardest things a person can do. Some people start a business out of pure fascination, or even as a hobby. Whether starting a business for personal reasons or simply the grandeur to make loads of money, everybody needs to have a plan. Starting a small business is no easy task and can take days if not months to prepare. The most important aspect to have is the tempura and heart to start a small business, as without passion, no business can succeed. One has to be his or her own boss, make dream, reality and be willing to market and sell a product. It takes a lot of discipline, long hours and hard work, something many do not have. However with the right willingness, passion and dedication a business can be the start of something big.
Businesses trying to survive the current economic crisis need to pursue competitive advantages and empower them. Competitive advantage results from matching core competencies to the opportunities. The entrepreneur that I interviewed uses her experience, quality, consistency and overall learned what the customers really need and demand. Jane’s skills and experience enable her to respond faster to market changes. Jane has remarkable negotiation and sales skills that make her a most competitive in the market. There are also questions that you need to ask yourself to determine if you are ready to take the next step. Are you able to think of new ideas? Can you imagine new ways of solving problems? Entrepreneurs should think creatively. If you have ideas learn how take advantage of new opportunities. Be your own boss also means that you are responsible for making difficult decisions. The business world involves uncertainty. Do you avoid the uncertainty in life at all costs? If so, owning your own business is not the best option. Do you enjoy the thrill of taking risks? Then you are ready to enter the world of
Like everyone else, family and friends have played a vital part in my life and have affected my outlook on money and career. I grew up in a family of six, with my father, who is an IT engineer, as the head and sole breadwinner of the family because in my country -Saudi Arabia- there aren’t many opportunities for women to advance. Although he made sure that we lived a pretty comfortable life, I would often see him foregoing his needs and wants to fulfil those of his family. So, I wondered about how different our lives could have been if my mom (or me as the oldest child) were working along with him. I believe that a person
When it comes to business, especially when it comes to starting one, I tend to think I know it all. Yet in reality, I don't really even know how to get started, enough to make a business efficient, or even get the doors open enough to make the first dollar. When I first think of working/operating a business, I think of no boss but myself, the rules are made by me and no one else, and that seems like a great plan in my eyes. As well as having all company profit coming directly to me, and I get to decide what happens with it. Although I know there is more to it than that, there is forming a budget, working with customers, knowing when to expand, and when to coast through. I also know that in the world of business, that if you aren't moving ahead, you are moving backwards.