THE NEED OF AN ENTREPRENEUR

-

                                    WHO IS AN ENTREPRENEUR?

An entrepreneur is a person who started or running businesses either with big or small capital. An entrepreneur is known as problem solver around him/her or in the community. To be an entrepreneur means to be someone who takes challenges/risk.

To become an entrepreneur is not easy at all because if an entrepreneur want to start a business, there are some needs he/she should know before starting either large business or small business. The needs are as follow;

1. FINANCING:This is the very first thing an entrepreneur need. Experience entrepreneur don't have it easy when it comes to funding a new business, but they do have a few advantages over newcomers. They might have a pool of capital from the business they previously sold or a steady stream of revenue they can use to fund a new business's cash flow. Even if their business went under,they've likely made investment contacts and client connections necessary to give a leg up in a new enterprise.

2. BEING THE VISIONARY: As an entrepreneur, you are expected to come up with ideas. When a competitor emerges, it will be your responsibility to come up with a plan. When your team hit an impenetrable obstacle, your job will be coming up with an alternative plan to move forward.

3. DECISION MAKING: Entrepreneurs are forced to make hundreds of decisions a day, from big, company- impacting decisions, to tiny, hour- affecting ones. Decision fatigue is a real phenomenon and most new entrepreneurs will experience it if they aren't prepared for the new level of stress.

4. DEALING WITH THE UNKNOWN: The unknown factor means your job stability is going to plummet, and many of your long-term plans will remain in flux as new developments emerge. Dealing with this volatility is one of the hardest part of emerging as a new entrepreneur.

5. RULE MAKING: An entrepreneur have to come up with the rules your business follows, from how many vacation days your workers get to what the proper protocol is when filling a complaint about co-worker.


By: Amusan Titilope Blessing



Comments

Post a Comment

Popular posts from this blog

Top 7 Ways To Hold On To Your Dreams

-
By:   Deborah Brown Have you given up on your dreams? Would you like to get them back? Many of us give up on our dreams. Often our dreams slip away without our even realizing it. Our dreams are who we are. They give us an incentive to get out of bed everyday. They are the reason we were born, and our destiny to fulfill while we are here. They are within your grasp. And yes, they can come true. It's up to you to decide if they will. What can you do if you've given up on your dreams? Follow these easy steps: Remember you are worth it. You deserve to live your dreams. Recognizing this is the hardest and most necessary step. Most of us think that only other people get to live their dreams. Only other people are lucky enough, not us. We think we don't deserve it but the only thing these thoughts do is keep us from moving forward. Remember that your dreams are important. Once you know how important living your dreams is to your health and mental well being, then yo
Read more »---->

7 Effective Ways to Develop Your Negotiation Skills

-
Image
1. Practise Saying ‘No’ Human beings are programmed to be non-confrontational. From a young age, we’re taught to follow orders or else get punished, and as adults, we’re taught the same thing. Time and again, we’re told to ‘let it go’ and ‘just go with the flow’ so we don’t upset the client or the boss. This lifelong habit of avoiding confrontation and just saying ‘yes’ weakens your negotiation skills. But not to worry; you can still reprogramme your mind by practising saying ‘no’. You can start with something small like going home on time or refusing to work extra hours, especially if you’re already raking in too much overtime. If that seems like a big step for you, then you can start by saying ‘no’ to that annoying colleague who loves sabotaging your healthy eating habits by tempting you with a piece of chocolate cake. These might seem like small steps, but taking the opportunity to say ‘no’ to minor instances will help you say ‘no’ to bigger things – whether it’s
Read more »---->