Starting My Own Business Essay

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All people know, that it is very difficult to live without money and to earn them you need to work a lot. It is difficult to work on somebody and you will get not very good feeling, when your boss is not satisfied with your job. It means, that it is the time to start your own business.

If you have your own business, there are a lot of benefits, because you can control your time, you do not need to work in the office and you can plan your life as you wish. If you want to order business essays about the benefits of your own business, you can do it on our site and our writers will write it for you.

Which thoughts you must not have to start your business

  1. I need to earn a lot of money in the shortest time.
  2. The idea, which I have, will work properly and I do not need to think more about it.
  3. My neighbor started his own business and I will do it.
  4. I am tired of my job and I will start my own business.

Which thoughts you must have to start your business

  1. I have a lot of skills and qualities and I know, what exactly people need and I will create that goods and services.
  2. I understand, that it is very dangerous to take a huge sum of money to start the business and I will need to have my own money and to calculate the needed sum.
  3. I understand, that own business will need a lot of time and efforts to develop it and I am ready for it.
  4. If I start my business, I will not have the boss, who will tell me what I need to do and I need to start to be organized right now, before I start my business.

Also, a lot of people are afraid to start their own business, because they know that someone started, but lost everything, they think, that the same scenario is waiting for them.

Some myths about own business

  1. It is impossible to start the business without money and some friends, which can help to start it.
  2. The taxes will be higher than my profit.
  3. Some criminals will take my business.
  4. I do not have the experience in it.

Think about the idea

Your own business will open the new world of freedom to you and will give you the opportunity to change your life. You can be sure, that your family, friends and relatives will be only glad for you and for your success.

You can be surprised, but your own business will start from the idea. Not with business plan, how a lot of people think, but exactly from the idea. First of all, you need to think about what exactly you are going to do, which kind of business you wish to start and develop your idea.

For example, you wish to open the language school. You need to think, if this school is big or small, how many subjects you will have there and how many teachers you need.

Analyze yourself

When you have the idea, it means, that you are ready for the next step. On this stage you need to analyze yourself. You should also estimate if you have enough possibilities for your idea. Also, you should estimate all possible difficulties you can have. You should analyze every moment. There are some important things, which you need to estimate firstly:

  1. Your skills and qualities and how you can use them in your own business.
  2. Your clients.
  3. The need in the building or some special equipment.
  4. The needed sum of money.
  5. If something goes wrong, how to change it.

Analyze your competitors

You need to collect all information and after that to show your own benefits. If you wish, for example, to open language school, you need to find the information about all language schools in the area, the information about salary, number of people and other detailed information which you need for your business. This information will give you the great opportunity to analyze yourself and your benefits before your competitors and also will show your weak sides and will let you change the situation.

Create a business plan

When you understood the idea and analyzed your competitors, it is exactly the time to create your first business plan. Exactly the business plan will help you to understand the sum of money you need. You will know whom exactly you sell your goods and services to.

The registration of your business

You need to be very serious with it. It is needed to ask the people, which have the experience in it, because you will have a lot of problems with the law, if you do something incorrectly. You can get more information by ordering the business law essay here and after that you will know about all that you need to register your business.

Take credit

Not every bank will give your money, because you only start your own business. You should think a lot about the sum you need for it. You need to collect the information about all banks and after that to make the decision.

Organization of your business

When an organization is created, you need to find people that will work with you and to create the advertisement. Your profit depends exactly on the advertisement you will create.

If you wish to start your own business and not to lose everything, these 10 advices will help you a lot.

  1. Do not take a huge loan in the bank if you did not have experience in it.
  2. Before starting your own business, give the answer to this question: “ What will I lose, if my business does not bring me the money?”
  3. You should be ready for both situations: as optimistic as pessimistic.
  4. Do not start your business on the money, which you need to use on something else, for example, the education of your children.
  5. Check the market and decide, if you are able to have benefits from your business.
  6. Do not work with the project, which promises to you a lot of money in the short time.
  7. If you have the opportunity, ask about advices in people, which are more experienced in this question.
  8. You should start your business in the sphere, you are familiar with.
  9. If you plan your actions, you should think a lot about every your step.
  10. Just be optimistic and do not stop if you have some difficulties.

As you can see, it is not very difficult to start your business. You just need to have the idea and the strong wish to be successful. If you work hardly, there will not be anything impossible for you. You can get the examples of the stories about different people, that started their own business, just ordering the essays on business on our site.

Essay Entrepreneurship - Starting Your Own Business

1203 Words5 Pages

Entrepreneurship defined by Jeff Cornwall at Belmont University is, “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 “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 because they can try to prove how not everyone follows those shady tactics. “Tenacity, street smarts, the ability to pivot, resiliency, inspiration, and the willingness to accept risk…” (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 you

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