Topics: Entrepreneurship, Entrepreneur, Joseph Schumpeter Pages: 3 (1509 words) Published: October 31, 2014

A good number of people dreams to have their own company; the biggest part of them does not really know the responsibilities and the stakes of this project. If someone wants to start his company, there are a lot of things that they should know because it's very hard. This essay was written after a long research about different topics related to entrepreneurs, the common characteristics and traits that lead a successful career. This paper will describe what it takes to be an entrepreneur and how a person may become one. It will also be focused on the things that are elemental to start your own business. Introduction

For some people, being the boss, having the freedom to make your own rules and regulations, earning a high salary and working in a field that you really enjoy, would be the greatest thing ever. That’s why many of them have a dream of starting and running their own business during their lifetimes. For many people, creating a product or service that becomes popular for customers will provide a very satisfying sense of accomplishment and self-determination. This feeling cannot be met at a job in which they work for someone else. Not many people end up doing what they really like and make a living out of it, so I can say that those who succeed are privileged and recognized worldwide for his work. But everything related to the world of business is not that easy. The information presented throughout this paper demonstrates this assertion. Disadvantages

As the boss, you call the shots; decide the working hours, hiring processes, management and administration. All this sounds very good, but you must also think about the risks and disadvantages of opening your own business. It requires a higher commitment of time and energy; you will probably work alone for long hours, which may affect your health, personal and social life. It may involve in a huge financial risk and your income may not be stable at various periods, it may leave you...

Bibliography: Reiss, Bob. Low Risk, High Reward: Starting and Growing Your Own Business with Minimal Risk (p 6-9 and 11-45)
Paulson, Edward. The Complete Idiot’s Guide to Starting Your Own Business (p 1-19 and 93-100) Wagner Eric. 7 Traits of Incredibly Successful Entrepreneurs from http://www.forbes.com/sites/ericwagner/2012/06/05/7-traits-of-incredibly-successful-entrepreneurs/Libava, Joel. The 10 Top Things to Know Before Becoming a Franchise Owner from http://www.cnbc.com/id/45597863 HYPERLINK "http://en.wikipedia.org" http://en.wikipedia.org for the Real Life Examples part
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