THE IN'S AND OUT'S OF STARTING AND RUNNING YOUR OWN BUSINESS
What is Entrepreneurship?
Entrepreneurship is the process of designing, launching and running a new business, for example a startup company offering a product or service. It is the ability and willingness to develop, organize, and manage a business venture, and handling not only the potential success and the responsibility that comes with it, but also the potential failure and the backlash with that. If you choose to become an entrepreneur, you will be entirely responsible for everything that happens with your business.
Is Entrepreneurship Right For Me?
A good entrepreneur is often a strong leader. You'll have to possess several gear-oriented characteristics. For example,
- Can you learn from others?
- Do you believe in yourself, your ideas, and your business?
- Are you organized and do you manage things well?
- Are you motivated and driven to succeed?
- Are you willing to complete the long and hard work necessary?
- Will you show initiative on projects when needed?
- Are you willing to learn with each passing day from your business?
- Do you work well under pressure?
- Are you ready to take responsibility for your business?
If so, then you have what it takes to become an entrepreneur.
How Do I Get Started?
Before you become an entrepreneur, you need to have a few things: An idea, a check, and a plan. Before you do anything, you need to have at least a general idea of what your business should be about. For example, if you want to start a business, you need to think of what type of business-- let's say an ice cream shop. Second, you need a start up loan to get that ice cream shop off the ground. You'll need money to pay for advertising, supplies, a location for the shop, and more. How will you ever fulfill your dream of selling ice cream if you cant afford sprinkles? Third, you'll need a plan of how your business will get from point A to point B. Before you start your ice cream shop, do you even know how to make ice cream? You need to know how you'll make the ice cream, who your target audience is, what products the ice cream will be made of, and how you'll fund this-- BEFORE you open your business. Becoming an entrepreneur will, of course, require many more things than this, but these are the few basic needs. I mean, Ben Cohen and Jerry Greenfield started their famous Ben and Jerry's ice cream company from the ground up and with a start up loan of only $12,000, and look at them now. If they could do it, why can't you?