Entrepreneurship

Read Complete Research Material

BUSINESS

Entrepreneurship

Entrepreneurship

Introduction

The individual entrepreneur is the one who carries on an active business own name. It is the individual (natural) business proprietor. The natural heritage of the person and the individual entrepreneur are the same, and then the owner will respond indefinitely for debts. It van also be defined as a businessman who plays professionally organized business is considered for the production and circulation of goods or services. The entrepreneur is always involve in taking higher risks and in taking chances in order to make the business successful and to avail the opportunities which are available to him or her.

Discussion

Risks

Becoming an entrepreneur can mean independence for many traders to renounce the orders of a boss and want to plan and manage business on their own. However, when deciding to undertake, one must take into account certain risks that may arise along the way and be decisive for success (MacMillan, 1985).

Confidence: if the entrepreneur does not believe in their own business, who will believe? At the same time, it is crucial to emphasize that overconfidence can be a risk to success. Opinions of external reviewers and can be very helpful before any decision;

Planning: Before starting any activity, whether in business or in your private life, it is essential to plan. Preventing possible risks and preparing to face difficulties, the chance of sinking their investments decreases considerably;

Commitment: When you open your business, is a company with two employees or ten, it is vital to have the commitment of everyone, including her. Take on the challenges and focus on overcoming them, and let you inside of her team activities, collaborates to avoid sudden surprises;

Initiative: anticipate the trends, take precautions about what the market expects, doing things before being forced by circumstances. Your initiative can reveal much what you're getting. Being proactive is essential (Behm, ...
Related Ads