Starting Your Own Business: Fundamental Prints

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Starting your own business: Fundamental Prints

Introduction.

Entrepreneurship is the process of conceiving, launching and managing a new business, which generally begins as a small or emerging business, offering for sale a product, service or process. It was defined as the ability and will to develop and manage the opening of a new business, together with the risks that this entails, in order to generate benefits.

Due to the big risks of implementing a company, an important part of these businesses have to close due to “lack of financing, poor commercial decisions, economic crisis or a combination of all of them” or lack of demand in the market. In the 2000-2010 decade, the definition of entrepreneurship was extended to explain how some individuals (or equipment) identify opportunities, evaluate them as viable and decide to exploit them, and these opportunities are used to develop new products or services. Opening of new companies or even industries.

Developing.

To understand what entrepreneurship is, let’s see why entrepreneurs are important in society:

  • Entrepreneurs create jobs: without employers there would be no jobs. Entrepreneurs assume the risk. Your ambition to grow your business finally leads to the creation of new jobs.
  • Entrepreneurs prefer change: entrepreneurs dream big with which some of their ideas will change the world. Many entrepreneurs will improve our future with their products, ideas or companies.
  • Entrepreneurs help society: with their taxes and donations, entrepreneurs are some of those who invest in the progress of society. This is also known as social entrepreneurship.
  • Characteristics of an entrepreneur
  • Innovative. First, an entrepreneur is innovative, because he has to create a project from new and original ideas.
  • Creative must also be creative, because an idea without interest may not generate optimal results.
  • Ability to assume risks. On the other hand, they must be able to assume risks and overcome the challenges that the development of a project can generate.
  • Persistent. Perseverance is a quality that is in every entrepreneur, because in many cases (perhaps the majority) the benefits do not arrive in the first months, but long after the start of the business.
  • Flexibility and adaptability. Given these difficulties, an entrepreneur must be flexible to change and always be oriented to growth. Sometimes it is possible to change some business aspect to improve and achieve better results.

What are the benefits of business spirit? Business spirit, that is, starting a business, is full of benefits and merits because it allows: these are some of the reasons why people become entrepreneurs:

  1. They want to change the world: many entrepreneurs strive to improve the world. As we have already said, this is the main objective of social entrepreneurship. For social entrepreneurs, building an empire is to create a better world for everyone.
  2. They want a boss: entrepreneurs often have difficulty receiving orders. Some social entrepreneurs can find that they have a more effective way to do things. Others may not like the lack of creative freedom. Ultimately, they are attracted to business spirit to succeed in their own terms. Being boss is more rewarding than having it.
  3. They want flexible schedules: business spirit is usually popular among those who need flexible schedules. Many people in search of passive income, begin entrepreneurship to earn money flexibility. For example, students may like business spirit, since the study burden may not allow them to work during normal working hours. Parents with young children also tend to prefer business spirit, since it allows them to combine work and personal life more efficiently.
  4. Assume risks: assume calculated risks and business spirit are hand in hand. Entrepreneurs do not request jobs, they create them. With that comes the risk. Either the financial risk of opening your first brand or the risk of not knowing what to expect, opening a business is always an adventure.
  5. They do not get stable work: many people are dedicated to entrepreneurship when they do not get a job. High unemployment rates, precarious salaries are some of the most legitimate reasons to start entrepreneurship.
  6. They do not fit into the business environment: entrepreneurs often do not prosper in the business environment. It is usually very restrictive for its growth. You may not like the lack of control they have in their function or that they do not like office policy.
  7. You are curious: entrepreneurs love to ask why, how and yes. Entrepreneurs love to learn. They are experimental people. They read business books regularly to improve their knowledge. Business spirit attracts them, of course, because it allows them to learn more in a very short time. Their curiosity allows them to grow continuously.
  8. You are ambitious: everyone who likes to achieve difficult goals becomes an entrepreneur. There is no limit to how much an entrepreneur can win and, therefore, you can always work to reach a higher level of size. When they find an obstacle, they look for the solution. Entrepreneurs are unstoppable.   

conclusion.

In short, a company is any new activity that a person performs, which may or may not have the objective of obtaining economic profits. The entrepreneurship is carried out by entrepreneurs. It is an innovative project that is related to the creation of a company or a product. In business administration, the term entrepreneurship refers to people who assume risks to create opportunities for change, in line with the French origin of the term entrepreneur or entrepreneur, which means a pioneer.

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