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Despite who you are, starting up a business of your own will be challenging, time consuming, and make you just want to pull your hair out. It doesn’t take much to start a business as far as jumping through hoops and requirements, but those few hoops are on fire over a pool of sharks and after taking a bath in gasoline and seal blood, you realize that it’s going to take some serious finesse to pull it off. Realistically, it does take a lot of effort to get a business going and most fail within the first few years, but it is not impossible. Although the risks are somewhat high, it is still considered a good life and career choice to go into Small Business Operation/Entrepreneurship. With the right level of focus and dedication it’s very simple to succeed in the business field despite its grueling challenges.
Before even attempting to jump through any hoops, one must first figure out some of the small things like, what kind of business you want to own, is it a service or production based business, is the business high demand in your area or anywhere at all, and any other question that relates specifically to your chosen business. Location is also a key factor. For example, opening another hotel in Gold Beach wouldn’t be a great idea. These questions factor into the business concept. “A business concept is the bridge between an idea and a business plan.” (2) This stage is very important and useful because it is illogical to attempt to start a business with out any real forethought. Once you have made the right decisions it’s time to put it into an organized layout. Putting together a business plan is the best choice.
One of the big hoops one faces in the business of Small Business Operation is creating and presenting a business ...
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... of time and money, but if its done right, it will pay off.
So, with everything lined out, the job for the entrepreneur is simple, yet costly. Despite the challenges however, with the correct methods and dedication success will be achieved. The biggest challenge is the long-term dedication to the businesses success. Although jumping through all the flaming hoops is dangerous and risky, if an entrepreneur can find his way through he might just find himself landing on a nice soft pile of cash.
Works Cited
http://www.forbes.com/sites/kauffman/2012/06/11/how-to-turn-an-idea-into-a-startup-begin-with-a-business-concept-statement/ http://www.inc.com/guides/present-your-business-plan.html http://smallbiztrends.com/2012/12/start-up-failure-rates-the-definitive-numbers.html
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Checklist-for-Starting-a-Business
A small business are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation. there are many different types of small business such as convenience store, small grocery stores, bakeries, or delicatessens. There are many different typed of ways of starting a business. There are also many types of advantages and disadvantage. (webopedia.com). In today’s world, you will
Starting a business is a challenging undertaking that requires detailed planning and intensive research. The modern dynamic market and economic changes demand for the adoption of a well through of business plan that incorporates the entire business requirements (Pinson, 2004). The Paradise Beauty Centre will be a small enterprise that will focuses on the production and distribution of beauty products in United States of America. The business plan will help the business managers and other employees in understanding the long-term and immediate goals and objective of the business.
This paper examines the myths associated with what it takes to be an entrepreneur, the profiles and the common characteristics among these successful entrepreneurs.
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.
The venture to be the owner of an accounting and tax service provider is not a small task, and you have realized the challenges that many experience in starting their own business. Fortunately, you have taken steps early within the life of your new business in an attempt to correct any problems and learn from past mistakes in order to be successful in the future. In our previous communications you mention that you started your own business because you wanted to work in your own community, have the flexibility of owning your own business, while also being able to make a good living, and these are all worthy motivators for a fledgling business owner. You have earned your degree and your certified public accountant (CPA) designation, which has allowed you to realize success as an employee of a popular accounting firm. While employed at the firm, you were able to progressively take on greater responsibilities during your tenure and gain much needed experience; however, starting and managing a business requires some additional skillsets. Regina, you have proven that you are a bright individual with the necessary resourcefulness and skills to be a certified professional accountant and open your own business, and I am confident that you will be able to gain the skills needed to be successful with your business, and to become an effective leader.
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.
find it difficult to set up a business and make it a success. This is
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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.
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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
The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.