Essay Entrepreneurship - Starting Your Own Business

Entrepreneurship defined by Jeff Cornwall at Belmont University is, â€Å"A process of identifying, evaluating, seizing an opportunity and bringing together the resources necessary for success.† (www.belmont.edu) There are a wide variety of risks when it comes to starting and running your own business, just some of them are: under capitalization, poor management, market misjudgment, and lack of planning. Lack of planning and under capitalization go hand-in-hand because if you don’t properly plan your strategies and what you would like to do in the future of the company you are trying to start, then you aren’t going to be able to afford it. Like when someone says â€Å"Just looking!† while searching for a car, you put yourself in a weaker position†¦show more content†¦Working under this kind of prejudice might rule some people out of choosing an entrepreneurial life style, however, there are some people who find working under such conditions fun be cause they can try to prove how not everyone follows those shady tactics. â€Å"Tenacity, street smarts, the ability to pivot, resiliency, inspiration, and the willingness to accept risk†¦Ã¢â‚¬  (www.actionmba.org, 2010) Are personality traits you should have to be successful in the world of entrepreneurship. There will most likely be times during your endeavor that people will give up on you, your idea, or both and you should have the drive to back up your goals no matter what. You should be able to pivot according to where the market goes and have the ability to be successful and innovative in a wide spectrum of situations. On the flip side, some people believe that you don’t necessarily need to be born with such traits to become a great business owner; all it takes is some practice to love and nurture these traits so that they become just like habit! Or maybe all you need is one of these traits that can be linked to others so that you can pick them up quickly†¦ Further studying needs to happen before we can know for sure but for now we do know that if you are strong and motivated, then little will be able to stop youShow MoreRelatedEntrepreneurship Should Be Aware At The World Of Entrepreneurship Essay1531 Words   |  7 PagesALTHOUGH OWNING A BUSINESS HAS MANY BENEFITS AND PROVIDED MANY OPPORTUNITIES ANYONE PLANNING TO ENTER THE WORLD OF ENTREPRENEURSHIP SHOULD BE AWARE OF ITS POTENTIAL DRAWBACKS Introduction:- Entrepreneurship is defined as the practice of beginning a new trade or reviving an existing business, for capitalizing on fresh opportunities. The statement were analyzing today is all about entrepreneurship. The author here is trying to explain that like every coin has two sides, entrepreneurship also has benefitsRead MoreBusiness School At Washington University Essay944 Words   |  4 PagesDescribe your interest in entrepreneurship. Please include any past experiences in innovation and entrepreneurship: Ever since I was a young child I always wanted to create the next newest and biggest invention. For example, when I found out the creator of Jibits for crocs (those small plastic accessories that go into the holes of crocs sold her company to crocs for millions of dollars. It was such a simple idea, but also so creative and innovative. I was hooked on the idea of creating a productRead MoreMy Interest in Studying Entrepreneurship835 Words   |  4 Pagesfollow was entrepreneurship. Entrepreneurship is increasing in popularity as many more countries and organizations are trying to get their youth engaged at an early age with entrepreneurship with the express purpose of ensuring that innovation and entrepreneurship will thrive in the future (Mark). I want to become a successful entrepreneur because it has always been a dream of mine to become self-employed. I believe I have the leadership, passion, courage, vision, and persistence to start my own businessRead MoreThe Importance of Ent repreneurship Essay1180 Words   |  5 PagesEntrepreneurship Term Paper â€Å"Entrepreneur is defined as a person who starts a business and is willing to risk loss in order to make money.† (Merriam-Webster.com) Since before the Great Recession, economists have recognized how important entrepreneurship is to the health of the U.S. economy. (Strangler) â€Å"There are four benefits to the U.S. from entrepreneurs risk-filled but successful efforts. Entrepreneurs (1) use innovations to improve the quality of life, (2) create new jobs, (3) improveRead MorePersonal Statement : My Own Company1257 Words   |  6 Pagessophomore at Villanova University in the business school, I am still trying to figure out the path I want to take in terms of my career. Currently I am in the marketing department, but one thing I am interested in is entrepreneurship. The idea of starting my own company is very intriguing to me, and that is why I choose to speak to Tom Greenwood. Mr. Greenwood is my mother’s friend, he was previously invested in real estate before he decided to open his own business, a winery and bistro in my home townRead MoreEntrepreneurship Is A Vital Element For Invigorating Monetary Development And Employment Opportunities1361 Words   |  6 Pageshappened in the last decade has made entrepreneurship and even innovation that become an integral part of its, important in countries. When the states began to transfer production to the private sector in the market conditions, private sector tended to be more entrepreneurial. When the increase of knowledge production, distribution and use supported this, entrepreneurship began to come to the fore. The meaning of entrepreneurship, starting one’s own business was established by Richard Cantillon inRead MoreDesigning A One Stop Shop For Aspiring Entrepreneurs918 Words   |  4 Pagesone-stop shop for aspiring entrepreneurs who need assistance into building their business form the ground up. This application main task is to assist users in the steps of getting their business off the ground giving them access to tips, tools, and resources that will allow them to successfully start a business. The application will be called â€Å"The Startup† since it’s assisting users in starting up their own business. The target users for this application are for particularly for college studentsRead MoreEntrepreneurship, Franchising and Small Business.1460 Words   |  6 PagesIntroduction to Business Assignment #01: On Chapter #3 #4 Chapter #3: Entrepreneurship, Franchising and Small Business. 09. Why would a person want to own a franchise of a major well-known franchisor? 10. What is an intrapreneur? Why do some firms encourage intrapreneurship? Chapter #4: Social Responsibility and Business Ethics. 09. Why is insider trading illegal? Chapter#3: Entrepreneurship, Franchising and Small Business Question #09: Why would a person want to own a franchiseRead MoreThe Teachability Dilemma of Entrepreneurship1296 Words   |  6 Pagesrisk for the sake of a business, but also they provide our economy with employment opportunities and culture. A society can only be prosperous only when it rewards and encourages entrepreneurial activity because in fact, it is the entrepreneurs and their activities that are the critical factor for success, prosperity, growth and opportunity in any given economy. Entrepreneurship is not easy and it comes with its own risks and up and downs. On the last decade, entrepreneurship has rose and expandedRead MoreEssay On Should You Get An Mba Before Launching Your Startup1202 Words   |  5 PagesYou Get an MBA Before Launching Your Startup? The Value of an MBA or Business Education in Today’s Competitive Arena for Entrepreneurship Engineers, self-made entrepreneurs and bootstrap enthusiasts believe that the right person with the right work ethic can succeed in business with a good idea activated at the right time. However, in todays complex, collaborative and highly technical business environment, a degree in business--or at least some strong business courses--can give you the knowledge