Tuesday, August 12, 2014

When considering becomeing and entrepreneur

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.

Welcome to our on going weblog where we hope you find this diary helpful on your business ventures!