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Being Enterprising

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Written by   143
1 year ago

Everyday, we came into with an entrepreneur, directly or indirectly. Even at school, your school canteen is run by an entrepreneur. The little boy next door who rents out his rollerblades at 20,30,40 (PHP) for minutes is an entrepreneur.

Webster defines an entrepreneur as one who undertakes to start and conduct an enterprise or business, assuming full control and risk.

Probably we learned from our own experience also that being an entrepreneur is not easy. We must consider few things when going into this kind of business.

We consider Risks. At the start, we never know if our business will succeed or not. What if someone starts the same kind of business at the same time that we do? What if a crisis hits the country? And what if a construction project five kilo meters away affects the drainage in our area, causing floods every time it rains. These is only some negative thing to happen when engaging entrepreneur. Every business involves a certain amount of uncertainty and risk. Be prepared.

We consider location too. A business needs a customer or clients so it must be located where people often pass by or where it will easily be noticed. It must also be where the right kind of people will see it. So it is important of choosing location for our business.

Make sure to choose the right location for our business.

Next the Capital big factor to consider. Because this is the money we invest in business. It will be spent not only for the product we will sell, for instance, but also for items that will make selling those things possible. Allow this example to understand more better. A man who wants to go into the fish ball business, for instance, needs a frying pan, a gas stove and a cart. Where do we get money to start our business, of course, it could come from our savings,or we could borrow it is from someone else.

Being an entrepreneur needs a long hours and long hard work. Entrepreneurs invest a lot of time and effort into their business. Best example here is if you have a Bakery. Your day starts at four in the morning when you start baking pan de sal in the oven. Customers start coming at 5am. By 8:30 pretty sure all the pan de sal is gone., but still have other breads to sell. While you sell, you also have to keep an eye on the cookies in the oven. You take a nap after lunch. At 3pm, you start supervising your helpers needing dough for more bread. The pan de sal baking process starts at 6pm. After the dough is mixed, kneaded and shaped by one of your helpers. You check to see if everything is clean and ready for the next day. With the pan de sal rising and ready to pop into the oven the following day, You know it's time to call it a day, at 12 midnight. See?

We consider record keeping also. Business people must keep records of the money they received and the money they spend. It is very important. The work of keeping such records is called bookkeeping. Wise entrepreneurs do not spend all their profit. They put some of it back into the business to help it grow or expand. They also set aside some savings.

And lastly let's consider Competition. In the business world, competition is to be expected. Having competition actually is good for the customer because it the entrepreneur looking for ways to make his/her product or service better than that of the other store or shop.

Important thing to remember as an entrepreneur to keep customers back. Make the product cheaper than others. Make the product better, offer free items, promo, discount, offer good and services not found at the competitor's store.

Anyone can be an entrepreneur, but not everybody is going to have the same level of success. Entrepreneurship takes a lot of experience, determination and sometimes education.

Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.

Being an entrepreneur requires taking on significant responsibility and comes with significant challenges and potential rewards. ... The motivations for becoming an entrepreneur are diverse and can include the potential for financial reward, the pursuit of personal values and interests, and the interest in social change. WE can Conclude ENTREPRENEURS are the one who have several characteristics distinguish from other individuals and they are more motivated by achievement rather than the power of MONEY. They are more interested in create something rather than getting rich and set high goals as they can reach through their skills. However, A person who want to be successful as long as their can keep picking themselves up when they get knocked down,and keep try and explore different things and keep learning and obtain some entrepreneur characteristic.

Plan your business carefully before entering or starting it.

Thanks for reading once again.

Love lots ❤️😘

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Written by   143
1 year ago
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Comments

There are a lot of people now who invested their time and money in online selling. This is the most practical way of introducing your products to the market. However, the level of competition is quite high so it boils down to diskarte. 😅

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1 year ago

Oo nga.. Minsan depende din sa diskarte hehe.

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1 year ago