Top-Rated Free Essay
Preview

What are the reasons for setting up your own company?

Good Essays
572 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
What are the reasons for setting up your own company?
What are the reasons for setting up your own business and why are some entrepreneurs more successful than others?
Have you ever wondered how it would be to run your own business? I am sure you have, because that is one of the most common dream that comes to peoples’ mind at some stage of their life or career path. Unfortunately, in most cases the idea gradually vanishes because of the lack of good plan, changing words into deeds and simply courage. Why do people set up their own business? And what does influence the success in this desirable job? In this article I will try to look closer at the issues connected to running a business.
There may be many reasons because of which people set their own business. First that comes to my mind is obviously money. If you know someone running his own company, he is probably doing well in his life. People who manage to think of a good idea of a business and make it come true, have a machine to make money. When you already have this machine, the only thing you need to do is to use it properly. The profit your company makes is your ownership and you are the one who decides how to divide it between your subordinates if you have any. They say “money does not give happiness” but lack of it is much worse. Setting own company somehow gives an opportunity to have a lot of it.
The second reason I can think of is independency. Having own business is usually associated with being free in what you do for a living - no fear because of being late for work and no “tough” obligations drawn by your boss to meet. Well, it does not look like this in real life at all, but the fact is that the only boss you have is…you. People like to have power and control over as many aspects of their life as possible and a job is one of the most important. Independency in a matter of a career means you have been successful in your life.
And the last, but not least, is personal fulfillment. Having a business is a kind of your own achievement. It shows how successful you are in your career which is to some extend a determinant of your intelligence, creativity and courage. It gives confidence and make you feel proud of yourself.
Unfortunately, not every entrepreneur is equally successful. The main reason for that phenomenon is the type of company you set. The idea of a business is really significant in a matter of its further luck. If there are 20 pizzerias on Kamienna Street in Wrocław, there is no point in building the 21st. Entrepreneurs whose ideas are more original and “fresh” have better prospects to prosper well on the market. Moreover, there are people who have the ability of managing inborn and people who need to learn how to do this from their own experiences. The first group might be more successful than the second because of creativity or confidence on the market. Having these features helps in case of competition which inability to deal with is a really frequent reason of one’s failure. The process you set for the products, the way you do business with people, the whole marketing staff are just examples of the way of one’s management style.

You May Also Find These Documents Helpful

  • Good Essays

    Chapter Six

    • 1050 Words
    • 3 Pages

    2. Why do many entrepreneurs initially set up their businesses as sole proprietorships? Why do many successful entrepreneurs eventually decide to convert their sole proprietorship to some other form of ownership such as a corporation or LLC?…

    • 1050 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Many people may think it would be wonderful to run their own business. They can imagine the freedom of being their own boss, making the decisions in the day to day running of their company, and keeping the profits for themselves instead of spending their blood, sweat, and tears for someone else’s benefit. And if this was a family business? That can make it seem even more attractive. Working with loved ones, sharing in the fruits of your labors together. But this can be a very romantic notion, especially when we look to business outside of the United States.…

    • 1032 Words
    • 3 Pages
    Better Essays
  • Better Essays

    References: Dahl, D. (2011). Top 10 Reasons to Run Your Own Business. Inc. Retrieved on August 28, 2011…

    • 1559 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    Task4

    • 353 Words
    • 2 Pages

    When starting up your own business you need to think of the benefits and risks of you starting up your business. One benefit of you starting up your own business is that you can manage your work time better to suit your personal life because when you work for someone you normally work 9-5 and you would have to plan your personal life after 5 but if you have your own business you would be working for yourself so no one can tell you when to work, you choose when to want to work this also means that you can choose when you take time off work and you have more freedom around your work and personal life.…

    • 353 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Terrell Gatewood Case

    • 540 Words
    • 3 Pages

    In conclusion, entrepreneurs know the feelings Dickens was describing at the start of “A Tale of Two Cities”. Launching a company is both the best and the worst of times but also a time of belief, incredulity, wisdom and foolishness. Those who have left perfectly good jobs to go their own way know only too well the conflicting mixture of emotions they now may look back fondly on.…

    • 540 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Steps for Mindset

    • 1045 Words
    • 5 Pages

    the Business of Your Life and the Life of Your Business, 1e. Retrieved from ecampus.phoenix.edu.…

    • 1045 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    The Business Plan: A foundation for success; What an Entrepreneur Is; and Characteristics of Entrepreneurs…

    • 3204 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Addressing the entrepreneur’s personal motivations for initiating start-up activities has received significant attention in the entrepreneurial literature (Carter, 2000a,b) and is considered one of the key components for…

    • 2447 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    When this important decision, there are many view points to consider. Why do people start their own business? Some are trying to get their best, some can’t find a good job, and some are just tired of working for other people. Whatever the reason maybe, you must be sure that you can handle it. It’s great to think that you won’t have a boss anymore, you can control your time and work and that all the incoming profits are only for you. On the other hand, it’s not that good to know that you have to take care of everything, that there will be no more free weekends and you have to pay all the expenses. The more power you have, the more responsibilities you have too.…

    • 1087 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Business Interview

    • 1000 Words
    • 4 Pages

    “A big part of the business is personally wise and contacts,” Saida said. The long-term goals she has for her business is to make more branches of the store. The ethics important to business success because ethics a moral judgement about right and wrong, so her store related to religion by selling Islamic clothes for all genders and that’s made her business successful. The advantages of being self-employed are paying yourself, no boss, and own times. On the other hand, the disadvantages of being self-employed are long hours and no breaks. The personal skills and characteristics she does think business owners need to be successful are likable, talkative, people person, and business person. If Saida starts her business today, she would do differently to have real employees rather than her children because her children want to move to their own business. Saida advice was “never open a business with a partner and don’t take loans to start the business because it will stay with you forever”. This advice to people who want to start a business in successful…

    • 1000 Words
    • 4 Pages
    Good Essays
  • Better Essays

    able to find work that we like, rarely can we initiate our own enterprises. We…

    • 1152 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Medical Billing Business

    • 984 Words
    • 4 Pages

    You know your business, goals and objectives best. So, ask yourself, ‘why do I want to start my own business?’…

    • 984 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    The number of people in the US who are quitting their corporate jobs to start their own businesses is growing. One recent best-selling book entitled Fire your Boss! seems to reflect the growing discontent with company life. Why are so many people going into their own businesses?…

    • 326 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Wanting to be a businessperson is easy, but if you want to be a businessperson, who is successful is very difficult because there are many problems that you will face. S0ome businessperson can get successful, but some others cannot. There are three main points that all every businessperson should think of. They are ability, leadership and good communication.…

    • 364 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    in human activity is such, that very often the only avenue where one could enter in…

    • 270 Words
    • 1 Page
    Satisfactory Essays

Related Topics