Elements of Entrepreneurship

Topics: Entrepreneurship, Management, Source Pages: 2 (636 words) Published: August 26, 2014
AB207: Starting a Business
Unit 1 Assignment

August 1, 2014

One of the most important elements of entrepreneurship is motivation and commitment. It’s important to start the right way. You must know who is lending you the funds for your business so that you can stay motivated. You want to make sure that they are a reliable source for the future. You must convince your lender that your company will succeed and be able to pay your loan back in a timely manner. Inform them that you have researched the market and you feel that your business will be valuable. Having the abilities and skills to organize and run the business is important as well. Having the correct resources and a vision is important in running a business. Trying to persuade people that your business is needed and that in five to ten years ahead, your business will still be on top is important. Making sure that you have planning and organizing skills when establishing a business and having a good administration team to help coordinate all your business needs will be needed.

TOMS Shoes Company is selling their product online and assuring the buyers that a percent will go towards countries that are in need. Tom Shoes is very smart and organized. They are helping others by selling their products. They are selling quality shoes and giving some of the profits to children that are in need. They are showing great entrepreneurial skills. They are allowing you to view it on their website, make your choice, and pay for the item online. Everyone shops online so this is very helpful. They started off being motivation and making sure that they were helping themselves and others.

Giving back to the community for a cause is a great Social responsibility. The company is showing that making a profit is not the most important thing. They are making sure that they are providing for children that are needed in different countries. Donating their time and money to...
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