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Importance of entrepreneurship to the entrepreneur
Importance of entrepreneurship to the entrepreneur
Importance of entrepreneurship to the entrepreneur
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20 reasons to start your own business
Starting is the hardest step
I have known from a young age that I would like to run my own business. This aspiration was as a result of watching my dad create his business, and seeing his trials and tribulations of having ownership over the direction of his career and livelihood.
I have always been fascinated by work. It consumes over 1/3 of our time in a given day and often comes to define us as individuals. Yet for many work is just one of those things we do to ensure that we can live adequately and provide for ourselves and family. Most people I meet don't enjoy their jobs or seem constantly stressed by their day to day reality.
Now, I realise that starting a business is not for everyone. In fact most people are better suited to a
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They were so exclusively engrossed in their day to day affairs that they had no time for friend making." - B.C. Forbes
17. Get the chance to add real societal value by becoming an employer. Being a business owner and an employer adds huge value to your community and the wider economy. Having your own business gives you a sense of stewardship which is often lacking in an employee based career. Giving back by merely growing your business will make you feel great
18. Running your own business allows to avoid the ridiculous red-tape and bureaucracy that often constrains an employee based role, and take immediate action to get things done faster and more efficiently. As a business owner you call the shots - no more stupid corporate procedures or authorisation gate-keepers
19. Get out of bed every morning and feel motivated - at least 90% of the time - because you are building something for yourself (and not for some other rich business owner / shareholder). Working for yourself is the biggest motivator as you have everything to prove and only yourself to
make money, and because of money you can get and do the things you want, which
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.
I enjoy being productive. Since the age of twelve, I’ve bounced from one job to the next, seizing any offer that came my way. I have gained many skills from working at a myriad of jobs; radio DJing, working with a contractor and website designing, just to name a few. These experiences gave me the footing for my next project. I had considered starting this business for a while and after working in a multitude of fields, I finally had the confidence to make it a reality.
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.
Sabrina Stevens Shupe mentioned in the article, “What Does It Mean to Be Well-Educated”, and I quote “… I believe that education can and should be personally fulfilling, allowing us to appreciate life more by giving us the power to do things like read for pleasure, or compose music, or better understand the world around us” (Stevens, 2014, Web Publication). What Shupe mentioned about being able to have the opportunities to do anything, even if it is just a hobby, is affiliated as to what I said of what a well-rounded individual is. So not only is an educated person working, but he/she is also establishing the importance of carrying other interests into their daily lives, including hobbies that may allow for more of a social interaction with other people that have similar interests to build more social
From experience, I can say that I have worked with a number of people who dislike their jobs, and do not work to their full potential. I understand that the career at hand may have gotten dull for people, and that they still work in order to support their families, get health benefits and pay bills. However, if a person does not enjoy what they are doing, is it worth the stress and anxiety? In “Shop Class as Soulcraft”, the author, Matthew Crawford explains that people are alienated from their jobs because they have lost their sense of pride in what they do. Crawford states that a large part of this is because people have to settle for jobs in offices or commercial chains and they feel as if their work is meaningless.
There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
What do people seek in life? Happiness! Everyone is looking to be happy in life. But how does one obtain happiness in business? It is a journey some people seek their whole life. Business is not just a place to go work, but it’s a place to enjoy and put one’s talents to good use. Morrison uses the insights and of Aristotle to bring light in philosophical teachings on business. In the book, If Aristotle ran General Motors, it stated there are four dimensions of human excellence that help one obtain happiness and it is truth, beauty, goodness, and unity (Morris, 1998). Businesses ought to embody these four dimensions of human excellence to sustain business excellence.
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.
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.
1. WHY? Develop your "why". As an entrepreneur, not all times you have in business will be perfect. In fact, there will be many, many difficulties along the way. However, if you can develop your why, you can achieve success. Your why must be this personal, passionate, emotional drive that keeps you going, when the world tells you to give up. It is the reason you commit and work so hard. Pushing on when it seems all the odds and world is against you. Your "why" becomes your driving will to wake up and do it again tomorrow.
Starting your own business can be exciting and it can become a well- rewarded experience. Being your own business includes great benefits, create your
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
I am gratified to reflect on my Entrepreneurial Potential Self-Assessment. I have always enjoyed learning the concepts of running and managing a business. Personally, what I enjoy generally is implying these concepts in real life situations. Seeing the ‘real life’ effects are stimulating to me. I always saw myself running a stable/well- establish business; however, I never saw myself running my own business. For my part, I find that I do not have all the characteristics an entrepreneur should have. Therefore, the results are not surprising, but assuring of what my strengths and weaknesses are.