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A short paragraph about the advantages and disadvantages of being an entrepreneur
Benefits of becoming an entrepreneur essay
Entrepreneur advantages and disadvantages
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Business has been a large part of my family, and has started to grow on me. My dad worked in sales for many years, and is now the President of a company in Staples. My mom started her own cleaning business, and now works for herself, as well as my uncle owns a golf course, and a pump and well business. My other uncle has his own handy man business, while one of my aunts operates a redimix and construction company . So I guess it could be said, business is kind of in by blood. What I know 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. What I want to know I am interested in knowing more about starting and operating my own business. With what I have seen in the developing world around me, business has become more and more popular, I realized it is a great potential career path for me. So I would like to know, where to start, what schooling is needed, where do I make my business legal, how important is the work environment and gathering employees. Or is some of that afterthought stuff, that only matters if i... ... middle of paper ... ... a Business" United States Small Business Administration 2-28-14 http://www.sba.gov/content/register-your-fictitious-or-doing-business-dba-name Abrams, Rachel, Eavis,Peter "Buffett Hints at More Heinz-Like Deals in Annual Letter" http://dealbook.nytimes.com/2014/03/01/buffett-hints-at-more-heinz-like-deals-in- annual-letter/?_php=true&_type=blogs&ref=business&_r=0 "Business Taxes" IRS 3-1-14 http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Business-Taxes "Incorporating-and-Registering-a-Business" 2-28-14 http://answers.usa.gov/system/templates/selfservice/USAGov/#!portal/1012/article/2811/ Incorporating-and-Registering-a-Business Interview President of Stern Manufacturing Bob Jackson 2-26-14 Interview business teacher Anne Hutchinson 2-27-14 "Top 10 College Majors" The Princeton Review http://www.princetonreview.com/college/top-ten-majors.aspx
Michael Gerber’s The E-Myth Revisited is great book for anyone thinking of starting a business venture. Gerber describes how most businesses are started because people are fed up with their boss, or think they are doing all the work already so why not work for themselves. He states that every small business consists of three main characters the technician (the doer and builder), the manager (the planner), and the entrepreneur (the dreamer, visionary). There are life phases in a small business the infancy phase which is the technician’s phase, the adolescence phase which is when the business owner gets some help, beyond the comfort zone, and, maturity and the entrepreneurial perspective.
After I earn a degree in business, I plan to work for a company where I will gain experience until I am ready to start my own business. Even though I haven’t narrowed down what field I want my business to serve, I know I want to pursue ownership when I am ready. Being the boss matters. The difference between me owning my own business and having to work for somebody is that I will be more committed and even with long hours, I know that it will be worth it to build something of my own. Making my own decisions and taking my own risks is different from working for someone like my family does now. It will mean long, hard hours, but I will have something to be proud of instead of just living from paycheck to
I remember my father always telling me that in order to appreciate and value the things you have you have to work for them yourself. I think the same holds true for business ventures. Having a personal interest and a personal bank account on line drives one to succeed possibly all the more than k working for a set paycheck.
In the documentary “Call of the Entrepreneur,” three successful entrepreneurs, Brad Morgan, Frank Hanna, and Jimmy Lai, are presented to explain their views on entrepreneurship and in turn leadership. Brad Morgan is the owner of a million dollar dairy and compost company, Frank Hanna is a merchant banker in New York City, and Jimmy Lai is the founder of Giordano department stores and Next Media. A central theme of the documentary is how each of these businessmen displays the characteristics of persistence, patience, and perseverance to overcome frustrating obstacles and become successful. The film defines entrepreneurship and explains how the entrepreneur responds positively to consumer demands and is able to organize and direct others toward a goal only the entrepreneur can see. The film shows that though some entrepreneurs are driven by greed and some are not, the ones that are successful are answering the needs of consumers.
Striking the perfect balance between your personal life and business is always tasking. A lot of entrepreneurs are family people, and this often leaves one aspect of their lives wanting. In most cases, there is a deficit in one of these categories; the business or family life. A lot of businessmen complain about not having enough time for their families, while a lot of family men also complain of not having time to put into the business. Finding that perfect mix of work and family is not exactly the easiest thing to do. Infact, a lot of startups do not ever grow to fulfill their potential because the entrepreneurs behind them could not find the perfect blend. If you want your business to thrive in a very daunting and competitive world, you need to know how to mix these two aspects of your life. A business is greatly dependent on the personal life of the entrepreneur. Often times, if one aspect of the entrepreneur’s life is lacking, then the business will
Some of it depicts business visionaries as verging on legendary characters who acquire their abilities from an exceptional hereditary mix. In any case, examination lets us know that entrepreneurship can be learned. The information in this article gives a few attributes and aptitudes you
All that is needed is to register the company with the state and apply for an occupational license and any additional licenses required by the state. With the easy organization of a sole proprietorship, almost anyone can start his or her own business.
business is a way of life to most of those who do it and do not want to quit
Often times, I can’t help but wonder what my life would be like if I haven’t been exposed to the world of business; a wonderful career that changed my life completely. I have taken interest in business career because I love calculating numbers and interacting with people; But most importantly, my fascination in business came from my grandfather. He taught me many valuable tips on how to be a successful person, and most certainly how to run a business. He was not only a successful businessman, but also a respected individual. One of the businesses that he owned was a company called “Wu Long Tea Factory”. The main thing that they produce is tea of course, but they also have products such as cakes, candies, and all kinds of stuff. By being the production manager’s assistant of this company, I was able to experience everything that was going on in the factory. Even though that was the background I grew up in, my biggest fascination wasn’t in being a manager in a factory; it was the finance part that got me all excited. Often times I can even see myself sitting in my office and work on clients’ financial profiles and statements. I also took extra math classes and participated in many of the competitions in order to prepare myself to succeed in this particular field. Other things that I also did to get me well prepared are joining school activities, applying internships, and having jobs. I believe that all my hard work will pay off, when I see myself as a successful businessman.
My interest in business grew over the years. Gradually, I found out new things about how businesses ran and how different people work together and play different roles in a business. Over my high-school years I have taken several elective courses that I found interesting. I took a business course in Grade 10 where I learnt about the basic fundamentals of business. During that course, I learnt in detail about the basics and different sectors of business. Apart from school, I tried to explore how businesses worked in real life. When I had went to buy my guitar I was amazed at the store. Steve’s Music Store was a massive place where a large number of people worked, attending customers, keeping track of the equipment, maintaining storage, etc. I met and talked to the manager of the store to describe my awe at how he managed to run this huge business with so many people working together, each playing a different role. Watching TV programs like ‘Dragon’s Den’ or ‘Undercover Boss Canada’ inspired me even more. I was fascinated at how people came up with innovative ideas and how they manage all the people who are working in their business.
In the United States, approximately one in eight adults are self-employed. In their minds exists a one common dream. This is the entrepreneurial dream of self-employment. It is the freedom to start, grow, and cash in a new business. Most of the extravagant millionaires of today build up their wealth in this way. An entrepreneur is someone who has the ability to build and develop his own business. In today's fast paced world of business, many people chose to work for themselves. A career as an entrepreneur is a risky, yet personally rewarding endeavor.
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
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how
America needs help. In the midst of one of the worst recessions this country has faced, job creation is the primary focus of many people. Currently there are more than 13 million Americans without a job, and while the unemployment rate has dropped a few percentage points in the past few months, part of the drop can be attributed to people giving up the search for a job. The government has tried stimulus packages and bailouts, but saving jobs from being cut is not enough. New jobs need to be created, and the best way to create new jobs is to start new businesses. Luckily, there is a group of people up to the task: immigrants. Unluckily, current government policies are making it unnecessarily difficult for entrepreneurial immigrants to relocate to America. It seems nationalism has created the sentiment that Americans are better at business and entrepreneurial activity than the rest of the world. While the United States may have some of the most successful companies on the planet, America is not as entrepreneurial as it once was. Immigrants, on the other hand, are exceedingly opportunistic even in the roughest of economic situations. Although many Americans think immigrants are a problem rather than a solution, the United States government needs to make it easier for entrepreneurial immigrants to become citizens because immigrants create businesses that employ Americans and will help the whole nation increase total employment.