Establishing your own business is both exciting and challenging. Its very important to have a clear understanding what is and who should entertain becoming and entrepreneur.
You first should
be clear in understand what is an Entrepreneur. In summary it can be highlighted in the following bullets;
·
Entrepreneurs start their own businesses and work for themselves.
·
Entrepreneurs
recognize opportunities to start businesses that other people may not have noticed.
·
The entrepreneur shifts economic resources from an area of lower productivity and into
one of higher productivity and greater yield. By doing this, entrepreneurs add
value to scarce (limited) resources.
With an understanding who are entrepreneur's, the next challenging questions some individuals may want to determine is why become an Entrepreneur? The summary provided here is just on the surface some of the key reasons:
·
Control
over time.
·
Fulfillment.
·
Creation/ownership.
·
Control
over compensation.
·
Control
over working conditions.
The real advantages of becoming an entrepreneur, is in the quest of establishing one's purpose and financial freedom. However, in the process of achieving this objective there may come cost. Some of the benefits and cost of an Entrepreneur can be summarized as the following:
Benefits include:
·
Independence/autonomy
·
Satisfaction.
·
Financial
reward
·
Self-esteem
·
Contribution
to society
Costs include:
·
Business
failure
·
Obstacles
·
Loneliness
·
Financial
insecurity
·
Long
hours/hard work.
·
Strain
on personal relationships
If these attributes attract your attention, then you are
ready to embark on your entrepreneurial adventures.
