My Personal Goals To Owning A Small Business

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. My personal goal is to own a wealthy business. There are three steps I have to take to get where I want to be. The first step is to use the skills I am learning in my business and accounting classes in the next few semesters to start a small business in Lynchburg. Doing so will help me to learn how to run my own business effectively, and hopefully help me to decide what

The New York Times states that “An estimated 671,800 small businesses with employees opened their doors in 2005, even as another 544,800 were expected to close theirs that year” (Johnson 2006). The majority of businesses do not last. It takes a lot to keep a business alive. Jonathon Jones states; “It can be easy to start a small business, as there are opportunities to fit almost every budget and skill. It is often harder, however, to run a small business successfully” (Jones, 2012). Business owners have a hard time keeping themselves afloat because of the competition of other businesses that are selling the same product or service. The key to keeping a business around is to be different than your competitors. Apple is a prime example of this, as they continue to come out with new products such as Apple Pay and Apple Watch. Whichever company comes out with the newer better product wins the

Happy employees means better customer service, and better customer service means happy customers. Whether they are hired to clean the bathrooms or to help run the company, employees should always be treated with respect. In my experience, this is not always the case. Businesses treat their employees as short term assets, when they should be treated as people. All humans are created equal, and just because someone is put in a position of authority over someone else, does not mean that they are more of a person. I plan to treat all my employees equally, with respect and