Think Big to Become an Entrepreneur

Do you want to be an entrepreneur? Planning to start your very own business soon? Think first if you can really handle the "rocky path" you'll be experiencing. Business responsibilities aren't that easy. In fact, not many people are willing to step out of their shoes and venture in business. One can get green-eyed at successful entrepreneurs because of the money they can earn and the freedom they have. If you have been dreaming to become one and are willing to take the risk of venturing out, go ahead! Gear up with your passion, creativity and right attitude! If you possess these qualities, success will ring at your doorbell!

Advantages and Disadvantages of Entrepreneurs: Have Your Risks Calculated before Jumping In!

Advantages:

Entrepreneurs earn in direct proportion to their hard work - having excellent sales would mean lots and lots of moolah! Employees earn what has been set by their employers.
Independence. Need more elaboration? Entrepreneurs are their own bosses. They answer to themselves and they can't get fired. They set the rules and the structure in their company. Another is that they may have flexibility in their time to do other personal stuff due to the fact that they control work schedules. Also, Entrepreneurs can decide freely if they want the company to wear business suits or not.
Entrepreneurs can get to practice their creativity. Innovation is essential in the business world as people want new, fresh ideas or products all the time. Business owners are also surrounded by the Marketing staff to help them out.

Disadvantages:

Entrepreneurs don't get regular salaries. If the business is low or the economy is experiencing a recession, lower income will flow in the company. More so, if the target market is not responding to your advertised products.
Time. Yes, even though entrepreneurs have flexible time schedule, there will be days in which they tend to work longer or overtime. Stress and pressure will come to them as they plan on how to improve the company. Most employees work on the regular nine-to-five pace or even less.
Major decisions are made by entrepreneurs. It can be a disadvantage and a burden to them because every decision they make will greatly affect the business.

Qualities That are Needed to Become an Entrepreneur:

Creativity.
Stability
Risk - taker.
Passionate.
Honest.
Optimism.

You can insert some positive qualities there as well. Also an entrepreneur has to be observant when it comes to the company's environment. Now, these characteristics will help the business owner cope with daily tasks.

So then, what else is needed to become successful in the world of entrepreneurship?

Starting up a business requires ideas. You plan what product or service you will provide to people. Make sure that your product is in-demand or marketable, or else there will be no sale. Continue to innovate your desired product so that your customers will not get bored by looking or experiencing the same thing all over again. If you have plenty of innovative ideas, save some for the future! Be honest when it comes to pricing your products. A hundred dollars for a pillow will not work! This is also where you have to think how much money or capital you would like to invest in the business. Any ideas on how to finance your business? Alright, grab that piggy bank you have since 3rd grade!

After planning what product or service you will be selling, determine who are your target audience - Barbie Dolls won't work for boys, unless they're dads who wanted to buy dolls for their "princesses" or older brothers who wanted to give their little sister some Barbie Dolls. You do get the picture right?

Decide whether you want to have a business on a store or online. Business-in-stores may have few customers at first, but within time, by exerting a lot of effort, it will grow into a huge company. Having an online business may lessen the start-up costs. However, beware of false buyers, they will only waste your time. Moreover, try securing all your data before someone else will steal it! After, decide whether you can register your business with the government to make it official.

Now, in order to have some customers, advertise your product or service! Choose whatever media you will be using that may reach your target audience - television, radio, newspaper, posters or even the Internet. Teenagers might hear about your product on the Internet or the television.

If you need any help with your business call your friends or post an announcement. Staffing may be difficult, but if you know proper staffing, then your problems might be lessened.

Always remember to BUDGET the money. Don't overspend for further renovations or productions. Also, don't be overly stingy with money either.

Now you know what it takes to be an entrepreneur. If you still wish to continue, brace yourself and don't get discouraged. Think BIG. Endless possibilities will come in your way.
by : Luminada Jenkins