Disadvantages Of Owning A Business

2115 Words5 Pages
bulb-icon

Recommended: Economic importance of entrepreneurship

The Many Benefits of Owning a Business Some people do not like the way some businesses are ran and would like to change them. Others do not like to be employees for certain employers because of how the business works. There are many pros and cons to owning and running a business and making the choices in how to do things in the business. What some people do not know are the many benefits to owning a business instead of just being an employee. One of the biggest benefits to owning a business is people get to be the boss. Being the boss of a business is beneficial because they have the freedom to run the business in the way they feel works best. “You make the rules of your business and run it how you want to” (Manpreet). The boss makes all the decisions for the business and who to hire. If the boss decides that the way the business is being ran is not working then they can …show more content…

“…no one has more pride in what they do than those who are head of their own company” (Bitton). Since owning a business is a risky task, succeeding makes people feel happy and prideful. People that risk then succeed are very proud of what they have accomplished, which increase their pride. Having the courage to even try to own a business can give people great pride as well (Bitton). Knowing that the person themselves started and ran a business successfully without having someone else do it for them makes them more prideful (Bitton).
The creator of a business gets to choose where they would like or prefer the business to be run from. “You don’t have to be stuck in an office, cubicle, or your home. You’re free to run your business anywhere you’d like” (Manpreet). Since the creator starts the business and decides all the important decisions, they can choose to have the business ran from a house or an office. They can decide where they think the business would benefit more from depending on the type of business they choose to

Show More
Related

  • Analysis Of Pride In Rules Of The Game, By James Hurst

    801 Words  | 2 Pages

    Pride is something that is essential in human life. Due to pride, we are able to see the joys

    Read More

  • Muller vs. Oregon

    1291 Words  | 3 Pages

    The time of the Industrial Revolution allowed little room for smaller companies to make a name because the big businesses had monopolies over certain areas of industry. Therefore, for a person to make a name for himself, he had to do so with ambition, money, reputation, and inner strength. By reason of an owner not possessing these qualities, then by the rigors of business owning he would be mentally crushed by the amount of work that falls upon the owner's shoulders. In addition, even though labor came cheaply to t...

    Read More

  • The Power and Impact of Business Names

    1947 Words  | 4 Pages

    Franchise owners do not have the freedom to make changes to their products and services based on their own personal interests or market requirements (Brockhouse, 1989). The parent company is the one instead with the mandate to make such decisions. Independent business owners, despite the high likelihood to have a higher investment cost to start and operate their business, have more control over decisions to invest and what time to do so. In Shania’s case, she has many willing investors and therefore as an independent business owner she has the power to decide whether to include them or not. She can also decide who to include and who not to include as she pleases. Franchises are associated with risks of negative publicity like for instance if one business under the franchise screw up the blame is put on the entire franchise, but for Shania as an independent business owner doesn’t have to worry about such possibilities. Freedom does bring happiness according to online surveys. The greatest reward of being an entrepreneur is the ability to control one’s destiny and the destiny of their business (Jenkins,

    Read More

  • Pocasangre Oliva Dental Case Study

    1787 Words  | 4 Pages

    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.

    Read More

  • Jessica Tracey: The Power Of Pride

    1541 Words  | 4 Pages

    Like the other deadly sins, pride can be both harmful and helpful depending on how it is used. For example, her Scientific American article “Pride and Power,” Jessica Tracey claims that pride can be divided into “hubristic pride,” a love of self that masks insecurity and promotes hostility, and “authentic pride,” a pride that promotes success and love for others. According to Tracy, while pride can be harmful and lead to bullying and dominance, it can also serve as a helpful motivator to achieve one’s goals and lead a good life. Tracy uses Mark Zuckerberg and Bill Gates as examples, claiming their success came not from greed or the need to improve technology, but by “a need to be the person who did it” (Tracy 1). This virtuous pride can also be seen in Ulysses (or Odysseus) from Tennyson’s poem “Ulysses.” Although the speaker of the poem is certainly guilty of pride and neglects his family to embark on his adventures, there is also a sense of nobility in his desire “to strive, to seek, to find, and not to yield” (Tennyson lines). Although all these men are certainly proud, even obnoxiously arrogant, it is also this pride that motivated them to achieve the things they did and better their own lives. This suggests that a virtuous form of pride taken in virtuous things, such as intelligence, innovativeness, and kindness, benefits the individual rather than destroying the value of

    Read More

  • Types of Businesses in America

    1338 Words  | 3 Pages

    ...g. Businesses structures and regulations are strong and firm which help businesses around the nation. The rules and regulations from the federal government help and keep the people safe. Starting a business is easy and profitable. It may be easier to start a sole proprietorship rather than a corporation. But many can receive help from family or friend and start a partnership where there is help and support of a partner. There are advantages and disadvantages for all forms of business. There are endless opportunities for the American people. There optimistic attitudes can lead them to great wealth.

    Read More

  • Pride In The Scarlet Ibis: Quote Analysis

    449 Words  | 1 Pages

    “Pride is a wonderful terrible thing, a vine that bears both life and death.”, this quote is from “The Scarlet Ibis”, and the context is pride can be good and helpful or it can be bad and harmful. This is a relevant quote because it shows pride is a good and bad. This quote is like my thesis because pride can be good. Therefore, pride is an attractive trait to possess because it drives a person to accomplish tasks; proud of personal achievements and motivates us to help others success.

    Read More

  • Hidalgo Research Paper

    1270 Words  | 3 Pages

    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

    Read More

  • Characteristics Of An Entrepreneur

    1515 Words  | 4 Pages

    Fearlessness is one more of the identifiable qualities of what is an entrepreneur. This is regularly important in light of the fact that business people usually endeavor to succeed with new thoughts.

    Read More

  • Reasons for Small Business Failure

    1669 Words  | 4 Pages

    Companies should have only enough workers to perform essential operational functions. Hire employees who are well trained and able to pro-vide results. Moreover, employees should be happy, keep them motivated. Remember that just being good at one thing doesn't mean it's enough for the business to be successful. The owner should be adept at several things such as hiring, accounting, marketing, public relations, etc. And, although initia...

    Read More

  • Owning Your Own Business

    925 Words  | 2 Pages

    Five advantages for 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. The profit is not split among partners, or split among a corporation. So when you own your own business, you’re the first and only one that receives all earnings and profit. So if a person has a successful firm, he/she is the first to reap the success and rewards. 2) Another advantage of owning your own business is that you’re your own boss. You can set your own hours, decide what you want to do with the company, no manager to answer to. Basically, you’re in charge of everything. The owner solely makes all decisions. Or in other words, you’re running the show. 3) An additional advantage is that a sole proprietorship can be easily organized. It’s easy to start your own business. First of all, it costs very little money to start your own business. As a sole proprietor, you have minimal legal requirements. The owner doesn’t have to establish a separate legal entity. All that is needed is to register the company with the state and apply for an occupational license and any additional licenses required for the state. ...

    Read More

  • Types of Business Entities

    1163 Words  | 3 Pages

    There are several advantages and disadvantages with the sole proprietorship. The advantages of a sole proprietorship based on the article in the New York Times include:

    Read More

  • Successful Entrepreneur Case Study

    1064 Words  | 3 Pages

    It means the positive attitude against the business and strength and will to achieve success. A successful entrepreneur has to own certain qualities that would enable him to succeed in his business.

    Read More

  • Characteristics of Successful Entrepreneurs

    1006 Words  | 3 Pages

    Most successful entrepreneurs are have a passion for their product or service as well as a desire to solve a problem and make life easier, better, cheaper (10 Qualities of successful entrepreneurs, 2010). Their desire to be an entrepreneur is mostly due to in internal factor rather than an external such as money.

    Read More

  • Owning and Starting a Business

    1317 Words  | 3 Pages

    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.

    Read More

More about Disadvantages Of Owning A Business

Open Document