essay about starting a small business

Starting a Small Business

Introduction.

Business ownership is an inviting opportunity for everyone as its benefits attract people towards financial and personal freedom. Among other factors, it offers the absence of the top management, engagement with different people, and schedule flexibility. In this essay, the thorough description of setting up a small business will be discussed with an examination of the particular components contributing to its long-lasting prosperity.

Despite the appealing possibilities of owning the business, passionate individuals tend to ignore the importance of a successful business strategy. Pakroo’s suggestion includes active visualization of the process in the manner of a “machine with various moving parts” (2). One of the first steps to take is to do comprehensive research by finding the target group, analyzing competition in the industry, and studying similar products on the market. Another step to undertake is creating a business plan, a primary tool that leads the enterprise in a suitable direction. The business plan varies according to the owner’s financial situation, the industry, and future anticipations and predictions. Hence, if the proprietor seeks start-up finance, the plan’s spreadsheet must include a one-time cost and regular expenses such as utilities and rent. Therefore, to commence the enterprise, there are essential stages to consider, including exploring the industry and drawing up the scheme.

The next matter to carry out is the legal aspect of establishing the business, which can be a considerable obstacle to overcome. Choosing the enterprise’s legal structure, varying from a sole proprietorship to a corporation, is a significant element since it directly affects future taxation and liability constraints. Before registration, the owner needs to think of the sounding business’s name that will attract potential customers and suppliers. Depending on the enterprise’s structure, the proprietor must receive licenses and special permits to run the business on legal terms. Additionally, leading a detailed budget and meticulous control over finances are central to an effective working process, which can be done via an appropriate accounting system. Accordingly, the abovementioned procedures are vital to lead the business without possible legal issues in the long-run.

Finding the location is critical for the healthy operational activity of the business. Moreover, it requires the necessary equipment and tools, taking into account the enterprise’s type and the amount of the initial capital. It may not be necessary for small businesses to hire employees or contractors as it bears additional costs to the owner. However, if positive, the process requires preparation of the workforce’s budget and organization in line with its responsibilities. Lastly, the formation of the marketing plan is needed to promote the enterprise and build a network of loyal customers. Thus, for the enterprise to be in operation, the owner needs to consider the employment, marketing strategy, and location.

There is an opinion that the majority of start-ups fail in their first decade. The fundamental explanation can be the fact that most entrepreneurs start their journey with the wrong way of thinking. Building a fruitful business cannot be achieved overnight since it is a product of persistent labor and adequate response to the trials involved. In addition, gathering around the right team members, qualified, well-tried in diverse fields, is the key to the best results. A successful enterprise arises from its power to adjust to changes. In other words, the business world is never stable and predictable but filled with unexpected events. Flexibility keeps the environment competitive, thereby making the business versatile. Consequently, there are two pivotal factors, the right mindset and adaptability, facilitating the enterprise’s prosperity.

It can be concluded that the potential of opening the business is appealing to many individuals with its advantages of private and monetary independence. There are specific procedures to establish one, starting with the extensive research of the market, planning process, and ending with the enterprise’s efficient promotion. Besides, the accurate attitude to the business’s activities and ability to adapt to unforeseen changes are principal components of success.

Pakroo, Peri. The Small Business Start-Up Kit: A Step-by-Step Legal Guide . NOLO Law for All, 2018.

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How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you if you have question on how to start a business essay. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

• Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

• Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

• Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

• Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

• Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

• Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

• Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

• Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success. 

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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7 Real Reasons Why Entrepreneurs Start Their Own Business

Posted april 5, 2022 by kody wirth.

Why do people want to start their own business? What drives them to strike out on their own?

If you’re considering becoming an entrepreneur , understanding your answer to this question is critical. Honestly, assessing your motivations can tell you a lot about your likelihood of success. Will you be able to navigate a financial crisis? Invest the extra hours to rework your strategy even when you’d rather go home? 

If you don’t have an answer to that question, it may be helpful to explore why you want to be an entrepreneur further. Let’s take a look at some of the most common reasons why entrepreneurs start their own businesses—which are probably leading you to do the same.

1. Freedom to pursue your passion

You’ve had this talent, skill, or hobby for years, maybe even since childhood. Now, you see a potential opportunity to develop a business structure and monetize it. So you decide to use your passion to start a business. 

However, you may want to take a moment to assess the potential of your passion. Yes, it makes you happy, but can it pay the bills?

When you set aside emotion and focus strictly on dollars and common sense, does your passion-fueled business idea truly have the potential to be financially successful? Don’t forget, with ongoing record inflation, you’ll need continuously increasing income to support yourself and your business. Can your passion keep you afloat? 

If the answer is yes, start writing a business plan and go for it. If not, then you should likely rethink using your passion and explore other small business ideas. Consider another talent or hobby that can bring emotional fulfillment, as well as a tangible financial reward. 

Or, do further market research into other opportunities outside of your core interests. You may find that there is another reason for being an entrepreneur is really what’s driving you.

Recommended Reading: 12 Types of Entrepreneurs Explained

2. Create generational wealth

Many people are fixated on the idea of creating wealth that can be enjoyed by their families. For some, it’s an ambitious financial planning goal derived from witnessing living examples of absurdly wealthy families. People who’ve been able to pass down highly successful businesses from generation to generation. Others simply want their kids and grandkids to be spared from the financial hardships they were forced to overcome. 

Yet, only a handful of businesses are able to survive the passage of time. Yes, building a prosperous foundation for your descendants is a worthy cause. However, there is no guarantee that they’ll have the work ethic or discipline necessary to maintain an existing business. Much less position it to remain competitive in an ever-evolving global marketplace.  

Therefore, your focus has to be on how this endeavor will improve your life right now. Yes, your hard work could benefit your great-great grandkids, and you can teach your children to appreciate your business. You can’t force them to have the same passion you do. You can only set them up for success and hope for the best.  

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3. Support community, non-profits, and other social efforts

Many new entrepreneurs have a deep desire to use their businesses as vehicles to help the less fortunate. These noble souls see starting a small business as a means to effect change.

Social entrepreneurs aren’t driven by money but rather by a desire to create a better world. In our 2021 State of Small Business Study , we found that 12 percent of respondents identified giving back to their community as the primary reason for starting a business. 

If you’re one of these generous individuals, you must never forget that business remains business. Even though you have the best intentions, this doesn’t remove the responsibility to serve the needs of your target market. To provide competitively viable products and services for your customers. Failure to do so will result in your customer base taking their hard-earned money elsewhere, leaving you and your cause, out in the cold.

4. Turn a side-project into something more

Many successful businesses were once the side-gigs of nine to five employees who were simply trying to earn extra money. One thing led to another, word got around, and after a while, that side-project earned enough to replace the nine to five job, and boom: A business was born. 

As of 2022, we found that 23 percent of entrepreneurs were either starting a side gig or trying to turn a side gig into a full business. In fact, for most people, having a side gig is just a necessary part of survival. 

Yes, it is possible to turn your side project into a full-fledged business that becomes your primary source of income. However, it’s often difficult to know when it’s the right time to step away from your full-time position. 

When should you begin to promote your business? Should you invest in business insurance? Get the necessary licenses and permits to become a sole proprietorship?

These are just some of the questions you’ll need to answer when turning a side gig into your full-time pursuit. You don’t need to immediately make it your primary work; just take steps in that direction to see how viable it can be.

Remember, this can take months or years to gain traction. Just like a seed that you plant, you need to water it to see growth. With enough time and “watering,” that little side-gig seed can become a huge tree that becomes a profitable business. 

5. Challenge the status quo

Have you ever felt like there’s a better way to do something? This is a sentiment often held by game-changers. The employees and dreamers who feel the job or industry they’re in isn’t doing something right, and it’s up to them to change the status quo. 

Disrupting current norms can be a powerful incentive for new entrepreneurs. It can also be extremely beneficial for consumers wanting higher quality products or more efficient service. Nevertheless, disruption shouldn’t be based on personal feelings or experience. Instead, it must be centered solely on customer wants and expectations. 

Will consumers actually be interested in the innovation you provide? If you truly want to shake up the status quo, it’s up to you to find out if the solution you see truly benefits others.

6. Flexibility and balance

Having more personal and family time is one of the most powerful motivations for many new and prospective entrepreneurs. Nothing beats working on your own time and not having to worry about someone else’s standards. 

It’s time to make your own clock and choose your own hours. The harsh reality, as many new small business owners discover, is that work hours tend to increase, not decrease, after launching your own business. 

This is your project, your idea, and your customers, so it’s your responsibility. Reasoning such as “I’m not feeling well” or “that’s not in my job description” no longer applies to you. When you’re an entrepreneur, you’re always on duty.

Sure, you have “absentee owners” who simply hire people and leave them to run a business. But take a look at the most successful entrepreneurs. There is one common thread—they are hands-on. Oftentimes, their level of micromanagement is borderline psychotic. 

No, you don’t have to follow in the footsteps of Steve Jobs to be a successful entrepreneur. You don’t have to spend every waking hour to ensure your business succeeds. But you must care deeply about your business and, yes, sacrifice a great deal of time to make it a success.

7. Being the boss

One of the greatest driving forces for people starting a business is taking on the title of “Boss.” 47% of new entrepreneurs surveyed said that their main reason for starting a small business involved wanting to be their own boss. 

There’s a certain aura, a distinctive swagger, that many entrepreneurs have. Unlike top-level executives or even appointed CEOs, entrepreneurs garner a great deal of respect for being the ones who took the initial risk . They’re the ones whose vision enabled them to see an opportunity and whose determination made it happen. 

Entrepreneurship is a medal worn with pride, which most onlookers cannot ignore. Why do people start their own businesses? Because many want the respect and admiration that comes with starting a business. 

If that’s your main reason, make sure you’re totally prepared for the responsibility that comes your way. You owe it to yourself, your employees, and your customers. 

Recommended Reading: 6 Requirements of Successful Entrepreneurs

How to successfully start your own business

Whatever your reason, there is one thing you absolutely must do in order to be successful— plan . This is especially true when starting and attempting to grow a business. For an entrepreneur, being prepared is often the difference between success and failure. 

If you’re seriously considering starting your own business, then you can’t afford to leave anything to chance or be surprised by any eventuality. With powerful planning and management tools available such as LivePlan , there’s no excuse for prospective entrepreneurs not to have a solid course of action. Your planning should incorporate regular forecasting and preparing contingencies for likely scenarios.

Confirm and test your reason for starting  

Effective planning not only helps you identify the reasons you want to start a business but also allows you to assess if your business truly has the potential to be sustainable. There’s no need to waste precious time or money pursuing an idea that won’t work. By taking the time to plan properly, you’ll be able to see clearly if your business idea is worthwhile and figure out the necessary steps you’ll need to take to bring it to fruition. 

Turn hard work into strategic work

After you have developed a plan, it’s time to act. That means dedication, hard work, and the willingness to plan. Make no mistake, if you’re not prepared to put in the hours toward your entrepreneurial dream, then you should reexamine if starting a business makes sense. 

Nothing in entrepreneurship is guaranteed, and it’s driven by strategic risk. This is why effective planning, reviews, and revisions are so vital for business owners. It can help streamline time-consuming work, eliminate unnecessary risk, and ultimately help you know more about your business.

Gain the confidence of a successful entrepreneur

Now that you’ve been reminded of just how difficult starting a business can be, there is one more requirement necessary for you to succeed—self-confidence. No one is going to fully

believe you can do it until you actually turn your idea into a successful business. First and foremost, you must believe in yourself. Without this critical element, your new business is almost certain to fail.

Why would anyone support a business whose owner doesn’t believe in its future? People are attracted to winners who showcase the capability to maintain that success. Possessing this attitude, combined with thorough, objective planning , will empower you to aggressively pursue your goal and find success as an entrepreneur. 

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Home — Essay Samples — Business — Small Business

Essays on Small Business

Starting a small business essay topics and outline examples, essay title 1: the entrepreneur's journey: navigating the path to starting a small business.

Thesis Statement: Starting a small business is a multifaceted process that involves careful planning, market research, financial management, and adaptability, and this essay explores the essential steps and considerations for aspiring entrepreneurs.

• Introduction
• Identifying the Business Idea and Market Research
• Business Plan Development and Funding Options
• Legal and Regulatory Requirements
• Marketing and Customer Acquisition Strategies
• Financial Management and Sustainability

Essay Title 2: Overcoming Challenges: Lessons from Successful Small Business Owners

Thesis Statement: Small business success stories provide valuable insights into the challenges faced by entrepreneurs and the strategies they employ to overcome obstacles, demonstrating the resilience and determination required for entrepreneurial ventures.

• Common Challenges Encountered by Small Business Owners
• Case Studies of Successful Small Businesses
• Adaptation, Innovation, and Problem-Solving Strategies
• Building a Supportive Network and Learning from Failures

Essay Title 3: The Role of Small Businesses in Local Economies and Communities

Thesis Statement: Small businesses play a vital role in driving economic growth, creating job opportunities, and fostering community development, and this essay explores the broader impact of small businesses on local economies.

• The Economic Contributions of Small Businesses
• Small Business Growth and Employment Generation
• Community Engagement and Support
• Challenges and Opportunities for Small Business Sustainability

College Admissions Essay Starting a Small Business

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A Way Forward for Small Businesses

• Alexander W. Bartik,
• Marianne Bertrand,
• Zoë B. Cullen,
• Edward L. Glaeser,
• Michael Luca,
• Christopher Stanton

In the face of existential uncertainty, you must balance urgency with prudence.

Small businesses with fewer than 500 employees account for 48% of American jobs and 43.5% of GDP, and they are facing an existential threat in the wake of the coronavirus crisis.  To understand the economic impacts on small business, the authors surveyed roughly 5,800 companies nationwide. They found these companies to be cash-strapped, with many having shut down or laid off workers, and uncertain about whether federal assistance will work for them. They offer five recommendations for small businesses navigating an uncertain future: 1) Don’t rush decisions, but do make plans; 2) Get in line for the Paycheck Protection Program now; 3) Understand how your customers’ needs have changed; 4) Do some realistic accounting; and 5) Keep your best employees loyal.

In these difficult times, we’ve made a number of our coronavirus articles free for all readers. To get all of HBR’s content delivered to your inbox, sign up for the Daily Alert newsletter.

It will be years before we fully understand the economic impact of the coronavirus, but one thing is painfully clear right now: Small businesses across the country are facing an existential threat. Businesses with fewer than 500 employees account for 48% of American jobs and 43.5% of GDP . Yet while these smaller firms are an essential part of the U.S. economy, they’re often financially fragile, with little cash on hand or resources to buffer even a minor financial shock. In the throes of the sweeping disruptions caused by the coronavirus, businesses around the country have closed temporarily. Many have ongoing expenses and little or no revenue and face the prospect that they may never reopen.

• Alexander W. Bartik is an assistant professor of economics at the University of Illinois at Urbana Champaign.
• Marianne Bertrand is the Chris P. Dialynas Distinguished Service Professor of Economics at the University of Chicago Booth School of Business, where she is the faculty director of the Rustandy Center for Social Sector Innovation.
• Zoë B. Cullen is an assistant professor of economics at Harvard University, in the Entrepreneurial Management Unit of Harvard Business School.
• Edward L. Glaeser is the Fred and Eleanor Glimp Professor of Economics at Harvard.
• Michael Luca is the Lee J. Styslinger III Associate Professor of Business Administration at Harvard Business School and a coauthor (with Max H. Bazerman) of The Power of Experiments: Decision Making in a Data-Driven World (forthcoming from MIT Press).
• CS Christopher Stanton is the Marvin Bower Associate Professor of Business Administration at Harvard Business School.

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Essay on starting a small business.

Starting a small business is the best way to gain freedom. Although this statement is disputable, it has sense.

Why do people decide to become entrepreneurs? They are longing for independence. Small business helps one manage his time in the way he wants. He can produce the goods and services he likes. Finally, he is able to try to be responsible and creative.

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Small business is very important for the economy of every state. Small entrepreneurs contribute into the state budget a lot. It is possible to say that the complex of small and middle firms provides the country with the same profit as big business does. In simple words, a prosperous state cannot survive without small business. It is impossible to defeat poverty without small business. Thus, if you have any genuine and uncommon ideas concerning the production of useful goods and services, establish your own small firm.

Table of Contents

Starting up is not easy

Starting a small business is not an easy thing. Whether you’re doing something as simple as business paper writing as a business or as grand as running a construction company building skyscrapers, you should be psychologically and financially prepared to numerous challenges. Moreover, it is vital to know something about business, management and marketing.

To begin with, you should educate yourself about the business and market. Learn from reputable education websites. You can take Research Prospect as an excellent example of educational websites as its visual appearance is fantastic. It has simplicity, informational content, responsiveness, and a proper Content Management System. You can read an excellent article written by Research prospect professional editors on how to write an essay here:  https://www.researchprospect.com/how-to-write-an-essay/

You should also study the market in order to learn about the goods and services that are required by consumers. This factor is the crucial one. When you discover that people demand an item but no one has produced it yet, you have the best chances to conquer the chosen sector of the market. Secondly, you ought to think about the price and quality of your product.

There are two options. The foremost one is the production of high-quality and expensive goods that will serve long. The second option is related to consumerism. You produce poor-quality cheap goods and attract clients with the help of the lowest prices.

Sad to say but it is difficult to choose the best option. Many people are ready to pay a lot to possess a quality item. Others avoid paying a lot and prefer cheap products. If you need title cash now to start your business, consider applying for a title loan.

Create a business plan

Then, you should create your own business plan that will contain the entire information about the functioning of your firm. Think about the target groups of customers, production, logistics, storage and retail.

Apparently, you should produce and store your goods somewhere. Then, you will meet with such issues as revenue and expense. You will need to hire a few employees to run your business rewardingly. Without doubt, you will have to be selective, demanding and attentive in order to recruit the right people into your firm. Finally, you will meet the problem of rent, taxation, etc. A firm resembles a household. You should pay attention to the slightest problem, question and misunderstanding if you want to increase your income and develop your small firm into something bigger.

The ups and downs

As might be expected, starting a small business has many advantages and disadvantages. The most solid strong side is independence. You do not have to work for someone else. You work for your own profit. You possess the freedom of choice and actions. If you are not respected and appreciated at work, you can embody your original and amusing ideas in your own business.

Ambitious people always try to start a small business if they receive such an opportunity. You do not need to listen to the instructions and threats of your boss when you are late. At long last, you will earn more money. You are the boss and the entire profit is yours.

Nevertheless, there are many factors that cause problems to a novice entrepreneur. You should remember that independence is also responsibility. You are responsible for your firm, its prosperity and the wellbeing of your employees. Furthermore, you are responsible for the health and life of your customers who consume your products.

You are expected to know how to develop and improve your small company beneficially. You should know how to behave in case of crisis and unpredictable situations. You should be ready to wake up at night and spend the whole day at your firm in order to settle down all urgent problems and conflicts between employees. You should be a teacher, psychologist and negotiator who is able to resolve conflicts and motivate his staff practically.

You have a great opportunity to share your experience in creating and managing your business, shoot and edit a video using ad maker  in which you can talk about the difficulties and successes that you have experienced. Perhaps this will be useful for people who also want to open their own business.

Starting a small business is a challenging but beneficial idea. You are able to establish you own store, café, restaurant or bakery and embody your offbeat and splendid ideas there. On the other hand, you should be ready to resist numerous challenges and work hard for the protection and development of your business.

This business related essay is sponsored by the following writing company: https://papersmart.net .

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Business Essay Writing: How to Start Your Own Business Essay

Table of Contents

Most people believe that launching a small business is the best way to achieve freedom. Even though this claim has some merit, it is debatable.

Why do people choose to launch their businesses? They yearn to be on their own. One can better manage his time by operating a small business. You can create the products and services he desires, attempt to be thoughtful and responsible.

The economy of any state relies heavily on small enterprises. Small business owners make significant contributions to the state budget.

One could argue that the complex of small and middle-sized businesses brings the nation the same profit as big enterprises. Simply put, a prosperous state cannot exist without small businesses.

Without small businesses, poverty cannot be eradicated. Allow me to discuss some factors that should be considered when starting your business.

Factors to Consider When Starting Your Own Business

1. starting up is difficult.

It’s not simple to launch a small business . Whether you own a construction company or a business, you must be financially and mentally prepared for hurdles.

Additionally, having a basic understanding of management, marketing, and business is essential.

You should first familiarize yourself with the industry and market. Use trustworthy education websites to learn.

The most essential component is researching the market to determine what products and services consumers want.

If a product is needed, but no one is making it, you have the best chance of dominating the market.

2. the Cost and Caliber of Your Product

The cost and caliber of your product are the second things you should consider. Two choices are available.

The creation of pricey, high-quality products that will last a long time is a choice to make. The second choice has to do with consumption. You make cheap, subpar items and draw customers by offering the most affordable pricing.

Sadly, selecting the ideal solution might be challenging. Many people are willing to spend much money to own a high-quality item. Others steer clear of high prices and favor affordable goods. Consider requesting a title loan if you require title cash to launch your company.

3. Business Plan

You should write your business plan, which will include all of the details about how your company will operate. Consider the client’s target markets, production, distribution, storage, and retail.

It would appear that you should create and keep your stuff somewhere. Then, problems like revenue and expense would come up.

You will need to hire a few staff to run your firm profitably. To bring the appropriate people into your company, you will need to be picky, demanding, and careful.

You will eventually run into issues with rent, taxes, etc. A business is similar to a family. Pay attention to the slightest problem, question, or misunderstanding to enhance your income and build your small business.

The Peaks and Valleys of Starting Your Own Business

Starting a small business involves a lot of benefits and drawbacks, as one might anticipate. Independence is the strongest side. You are not required to labor for another person.

You can decide what to do and how and work to benefit yourself. If you don’t feel recognized and valued at work, you can implement your unique and entertaining ideas in your own company.

Ambitious people always attempt to launch a small business if given a chance. When you are late, you do not have to heed the advice and warnings of your boss. You will eventually start to make more money. The entire profit belongs to you because you are the boss.

However, there are a lot of things that can be problematic for a new business owner. Keep in mind that independence comes with responsibility.

You are accountable for your business’s success, your employees’ well-being, and both. Additionally, you are responsible for the well-being and lives of those who use your products.

You must understand how to build and enhance your small business profitably. You should be aware of how to act in emergencies and unforeseen circumstances.

To handle crucial issues and employee disagreements, you must be willing to work nights and weekends. You should be a skilled educator, psychologist, and negotiator who can settle disputes and inspire his team.

Starting a small business is a challenging but worthwhile endeavor. You can open your shop, café, restaurant, or bakery and implement your brilliant and eccentric ideas there. To protect and build your firm, you must face many challenges and work hard.

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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Starting a Small Business, Business Plan Example

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Introduction

In am a student in the Valencia community college in my country and I am thinking of starting a small business dealing with the supply of clothes for children. I have the intention and desire to expand my knowledge of business practices and have decided to engage my activities in the Valencia since there are a lot of businesses dealing with the clothing of the children and all of them seem to be doing well. Is it because of the population is large enough to support all these businesses dealing with children ware or it is because the children of this town are less careful with clothing and therefore  make them wear out quickly necessitating the need for the fast replacement compared to the other cities?

I have done some research on the Valencia city and it has come to my notice that parents in this city like having their children smartly dressed as compared to the other cities. The parents and caretakers of children in the city buy children clothing almost on a monthly basis, explaining the reason for high demand for children clothes as opposed to its neighboring towns. People here are obsessed with smart children and take pride in the looks of their children more than any other city in the nearby. As a result, it has become a centre for small businesses dealing with clothes of children. People from the nearby cities also come to shop for their children here since the city has established itself as a city dealing with exclusive designs of children clothes. There are a lot of varieties of clothes for children and all the designs the children like are available here.

I thought of which business to start and arrived at this type of business, one dealing with clothes for children. I did some research from various websites and they were bearing almost the same information with what I knew. But in addition to this, the research also enabled me to understand the clothing business better on how to manage it financially. I got to understand how I could evaluate the business on the basis of its financial status and to make decisions based on the financial status of the business. From the research, I understood the best methods of running a business to get the best returns and therefore profit. This will help me on a great deal in knowing how I can modify the business operations to have the best outcome.

The business will be owned totally be me and therefore will be a sole proprietorship type of business. I will be the only decision maker. All the total capital will be raised by me through personal savings, borrowing from friend, family support or even a loan from a bank or a financial institution. I will start the business with a small shop and a van. I considered this type of business because being the founder of the business project I would be responsible for all liabilities and debts and exchanges made in the business. As such, I will have all powers pertaining to decision making in the firm. I will also be responsible for ensuring that the products reach customers. In addition, since it will be a new job in the market, being the proprietor will enable me to make the necessary adjustments without having to consult any other individual.

The business will start with the name “Valencia Kids Clothes Suppliers”. This name was considered in order to make the people of the targeted region to feel recognized. The business will be located in one of the main streets of Valencia in a region that is close to several family estates. This location was considered in order to make the business premise assessable to potential customers. Other than the shop, the business will also use the business van in marketing the clothes to other regions especially in areas from opposite direction, which have high number of children.

In order to reduce fraud, the following internal control will be implemented; there will be a well structured accounting procedure which should be followed when purchasing or supplying the products. This control will help to reduce fraud, since all products entering into the supply systems and moving out will have to be accounted for. In addition, the internal control will give the targeted clients assurance of the quality of products. In addition, as the sole proprietor, it will be my responsibility to ensure all periodic reconciliation tallies with the records in other accounting books (Business Glossary, 1). This internal control will help reduce internal fraud.

The business will be medium sized and will require one time start up expense of $33,590.00.  To obtain license for the business $150 will be used while $ 300 will be used for legal and professional fees. In addition, $1000 will be used in advertising and promotion while the remaining amount will be used on equipments, decoration of the business premise and installation of various equipments among other activities. This money will be used in modifying the business premise in order to be customer friendly, purchase various children clothes products with different designs and in the outreach programs where the van will be used to transport some of the goods to other designated areas in order to increase market area.

The service revenue for the business will be $89,600.00 while the operating expense for the business will be estimated to be $51,840.00. The estimated annual net income will thus be $37,760.

Income Statement

For the year that ended December 2010

Products revenue $89,600.00

Operation Expense

Advertising Expense $2,880.00

Salaries Expense $ 42,000

Transport expense $2160.00

Supplies expense 3,000.00

Telephone and other utilities expense 1,800.00

Total operating expense ($51,840.00)

Net Income $37,760.00

The businesses assets will include a business van, stock and cash which will total to $113, 560.00. The liabilities will be $ 25,800.00 hence making Valencia Kids Clothes Suppliers equity to be $87,760.00. Hence, based on return on assets analysis, the business will be expected to have positive revenue which will be expected to continue increasing the subsequent years.

Business Van $24,000.00

Stock $4,000.00

Cash $85,560.00

Total Assets $ 113,560.00

Liabilities $25,800.00

Equity $87,760.00

Equity and Liabilities $113,560.00

Developing this business will have financial and non financial benefits, not only to me but also to other members of the community. Some of the financial rewards will include increased revenues which will in turn translate to economic stability.   In addition, the business will enable me to develop business personalities who will be liable for different business obligations. These benefits of running a business as sole proprietor will enable me to learn how to manage and predict business risks, i.e. a non financial merit of the business. This business will require few legal costs and hence make the company to be profit oriented. Based on return on assets analysis, the company will be able to recover a return that is above the amount I invested as capital by 33% and hence the business will provide business security to the owner (me). Based on debts assets ratio only 23 % of the business capital was sourced from the creditors.

Doing this research has been of great help since it has enabled me develop a strong perspective on how proper planning is important before establishing any form of business. Ina addition, this form of research has showed me the importance of research before developing any business. Through research I was able to identify the needs of people in particular regions and capitalized on the fact that customer needs to develop the business due to what is at demand. The research that was done for various business analysis strategies such as return on assets analysis, have been very important in helping me identify and determine the right business to consider.

Works Cited

Business Glossaries, “Business Defination for Internal control”. Barron Education Inc. 2007. page 1 Retrieved 13 th March 2010 from http://www.allbusiness.com/glossaries/internal-control/4943791-1.html

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Is Now a Good Time to Start a Business? Here Are 5 Factors You Need to Consider. Starting a small business always feels like a gamble, even in strong economic conditions. With so much uncertainty, is now the right time to start a business?

By Joseph Camberato Edited by Chelsea Brown Jun 3, 2024

Key Takeaways

• Don't let economic fears deter you from starting a business. A well-planned and researched business idea can still succeed even in a challenging economy.
• Before launching your venture, focus on creating a strong business plan, validating market demand for your product or service, and conducting an industry analysis.
• Research funding options, and secure the resources you need to get your business off the ground — including technology and employees.

Opinions expressed by Entrepreneur contributors are their own.

Starting a small business always feels like a gamble, even in strong economic conditions. But right now, many people are concerned about the economy, and 65% believe it's either not going well or doing poorly.

With so much uncertainty, you may wonder whether now is the right time to start a business. But the truth is, there is no right time, and external forces will always threaten your idea.

Learning the "best" time to start a business comes with strategy, research and the right mindset. So if your numbers are solid, don't let economic fears delay your plans. Let's look at five things you should consider before launching a new business venture.

Related: The Best Time to Start Your Dream Business Is Now. Here's Why You Shouldn't Worry About Timing.

1. Business plan

A business plan can help you determine whether starting a business is the right decision. It can also help you identify new opportunities, clarify your strategy and evaluate whether your idea is viable.

If you have many different ideas, writing a business plan will help you evaluate which ones have the highest chance of success. You'll also have to spend time researching your target audience and competitors.

Most importantly, a business plan can help you identify any weaknesses in your business model. It can help you identify potential problems and avoid costly mistakes down the road.

Most investors want to see a business plan before they fund your venture, and you'll need a business plan to qualify for a loan . Writing out a business plan will also help you communicate your vision to new employees, which could help with recruiting.

2. Market demand

Roughly 42% of startups fail because the founders created a product no one wants. That's an avoidable problem, but it's easy to get swept up in the excitement of a new business idea and forget to determine whether there's a product-market fit.

Before you start a new business, you must consider the market demand. Market demand is the amount of a product or service customers are willing to purchase at a specific price. It's driven by many different factors, including the price, economic conditions and customer preferences.

Identifying market demand helps you determine sales and revenue potential. It can also help you develop a pricing strategy, choose your target customer and identify growth opportunities.

If you conduct a market analysis and determine a market demand, you also need to consider the type of demand. For example, you could identify an irregular demand — a demand based on seasonality or short-term economic conditions.

Many companies experienced this during Covid and found the demand waned once the economic conditions changed. Peloton serves as a cautionary tale of this — the company's revenue surged in 2020 and 2021, causing the company to invest heavily in inventory. When demand waned, the company had way too much stock on hand. Instead of seeing the initial skyrocketing sales as a temporary shift, the company acted as if this growth would continue indefinitely.

Related: Most People Have No Business Starting a Business. Here's What to Consider Before You Become an Entrepreneur

3. Your industry

A market analysis involves looking at the customers you will be selling your products or services to. An industry analysis looks at the different companies within that industry. You'll want to look at the state of your industry, its growth patterns and income projections.

For example, are you entering into an emerging industry or one that's well-established? There are pros and cons to both scenarios. For example, emerging industries often have less competition and high growth potential.

However, you'll have to spend more time educating your customers since they'll be unfamiliar with the product or service. Since the industry is new, it's impossible to anticipate the types of government regulations it could get hit with in the future.

If an industry is already well-established, it has a proven track record of success. However, there is usually also more competition and a higher barrier to entry.

4. Resources needed

You can't start a business without resources, though your needs will vary depending on the type of business you're launching. When you're starting out, your most important resource is funding since every business needs money to operate. There are ways to cut costs, but every startup incurs a variety of different expenses . We'll look at how to access the capital you need in the next section.

You'll also need access to the right tech solutions since technology makes your business more flexible and adaptive. Most startups need a responsive website, cloud storage solutions, cybersecurity tools and a way to collect and analyze data.

Finally, you'll need to invest in employees at some point. You may be able to get things off the ground by yourself, but if you want to build a scalable business, you'll need to find and develop the right team of people .

5. Access to capital

There are three primary ways entrepreneurs access capital — by self-funding the venture themselves, looking for outside investors or through small business loans. Self-funding allows you to avoid taking on debt or giving up equity, but it's harder to gain traction this way. You may have to bootstrap your company for years before you can successfully scale.

Outside investors can be a good choice, but this option is becoming less available to startups. VC funds fell by 60% from 2022 to 2023, and startup funding dropped by a third. Interest rates aren't expected to drop substantially in 2024, so this trend will likely continue.

Another option startups can consider is taking out a small business loan . Banks often have strict lending criteria, making non-bank lenders an excellent alternative. Online lenders and lending marketplaces offer a streamlined application process, less rigorous lending requirements, and fast access to capital.

Related: Struggling to Get a Bank Loan for Your Small Business? Try This Flexible Financing Option Instead.

Starting a business in uncertain economic times can be daunting, but with careful planning, strategic thinking and the right mindset , you can position your new venture for success. Remember, there will never be a perfect or "right" time to start a business, and economic challenges are part of the journey. By developing a strong business plan, understanding market demand, analyzing your industry, securing necessary resources and exploring diverse funding options, you can navigate these challenges and turn your entrepreneurial vision into reality.

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CEO of National Business Capital

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Entrepreneurship Essay: Topics & Samples about Entrepreneurship

In the course of your studies for management, marketing, or finance degree, you can be asked to write an entrepreneurship essay. Those who tried it know how challenging it is to compose a convincing and fact-based paper about business.

An entrepreneurship essay requires you to carry out thorough research. You have to arrange the findings to substantiate your opinion wisely. It shall be engaging for the reader. Usually, your purpose is not to inform but to explain your view on an economic phenomenon.

Entrepreneurship is about calculating one’s chances for success. It aims to establish a business opportunity and avail of it. In most cases, it involves product or process innovation. Thus, the goal of an entrepreneurship essay is to train your business thinking. It develops a habit of using subject-specific terminology and theories.

This article is your way to a perfect essay about entrepreneurship. Our team has prepared a guide and a list of topics where you can find an excellent sample essay about entrepreneurship. Yet, we know that the most challenging thing for many students is to come up with specific questions.

You can rely on the following steps while working on your paper:

• Pick or create a topic. The best essays focus on a narrow problem. Pick an idea that offers solutions or specifies how the reader can relate. Convey it all in your topic.
• Research thoroughly. Good preliminary research will prevent you from discussing stale news. Look for currently topical issues that many people face.
• Write an introduction. It is the most “selling” part of your entrepreneurship essay. Provide background information about the problem you are going to explore. Why did it arise, and who was affected?
• Work out a thesis statement. This sentence contains the central message of your writing. Specify your position on the narrow topic. For example, “Employee turnover is not always a negative thing.”
• Develop an argumentation. Make a list of all arguments that support your position and a few counterarguments. You will refine it when writing the main body. Include only the vital ideas and examples in your essay on entrepreneurship.
• Think of a conclusion. Mind that your readers will remember this paragraph most of all. What were the central ideas of your work? Summarize your arguments and restate your thesis with a development.
• Come up with an engaging title. It should make the readers want to keep on reading your text. An entrepreneurship essay title should reveal the problem you are going to discuss.

15 Entrepreneurship Essay Topics

To write a successful essay, you’ll need engaging topics on entrepreneurship. A good idea inspires you and gives a substantial reason for discussion.

Here we have collected the best entrepreneurship topics for your essay:

• Is becoming a successful entrepreneur an inborn quality or a developed skill?
• Is it efficient to unite researchers and entrepreneurs into one organization?
• Is contemporary entrepreneurship possible without online marketing?
• How can creativity make your business more identifiable?
• Does a model of economic development help entrepreneurs to achieve their goals, or does it limit their imagination?
• What are the psychological causes that urge entrepreneurs to seek profit?
• What are the reasons that spur the growing expertise of individuals in business issues?
• Which factors can bring entrepreneurship to bankruptcy?
• How could governments incentivize individuals to become sole entrepreneurs?
• What are the leadership characteristics of successful entrepreneurial management?
• Does gender influence a person’s skills in entrepreneurship as a career?
• Is it better to have a small enterprise or work for a large corporation, provided that the salary is the same?
• Compare the approaches entrepreneurs who start only one business and those who invest in multiple enterprises.
• How can MBA help you to become an entrepreneur?
• Analyze the path of a successful entrepreneur and suggest what could be improved.

5 Entrepreneurship Essay Questions

Your college or school professors can give you detailed essay questions. They direct your thought to make sure you do not diverge from the central idea.

Here you can check a list of entrepreneurship essay questions:

• In your opinion, is there a moment when an entrepreneur should stop expanding their business? Small business is easier to manage, but it provides less revenue. Big enterprises earn more but bring their investors to more serious risks and more significant expenses. Substantiate your point of view.
• What makes a successful business plan? Is it more important to calculate the economic feasibility of the future enterprise or predict the reaction of the target audience? Give examples of both approaches.
• Explain the concept of entrepreneurship. The essay should synthesize different formulations of prominent economists and sociologists. Make up your explanation of the term based on your synthesis.
• What can be done to avoid cutting the expenses of an enterprise? Staff reduction, renting smaller premises, and cutting salaries usually have negative aftermath. Are there any universal ways to make your business survive a recession?
• Imagine you are looking for a business partner. Which questions would you ask the candidates during the interview? Are there any traits you would look for? What kind of behavior would immediately tell you it is the wrong person?

Thanks for reading the article! Below you can find sample essays about entrepreneurship illustrating the structure that we have described above.

424 Best Sample Essays about Entrepreneurship

A clothing boutique as a business idea.

• Words: 1227

Starting a Business: Advantages and Disadvantages

• Words: 1730

Concept of an Entrepreneur in Business

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The Definition of Entrepreneurship

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Entrepreneurship: Interview with Small Business Owner

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Small Business: Features and Development

Business failures: reasons and recommendations, case study analysis: opening a coffee shop.

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Entrepreneurship: Making a Business Plan

Entrepreneurs’ strengths and weaknesses, working for someone vs. owning a business, steve jobs as a successful entrepreneur, women entrepreneurs, chinese and japanese business systems comparison.

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3M Corporation’s Innovation Engine Case

The definition of entrepreneurship and entrepreneurial behavior.

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Natural Hair Care Products as a Business Idea

Starting a business vs. working for an employer, the concept of enterprise “push” and “pull” in a business.

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Strategic Entrepreneurship: Creating Values

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Kirzner’s Theory of Opportunity

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Independent Entrepreneurship, Intrapreneurship, and Social Entrepreneurship

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“Drinkworks: Home Bar” by Keurig

Entrepreneurship: history, reasons and roles, entrepreneurship, intrapreneurship, and formulated marketing, entrepreneurship: business planning and characteristics.

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Owning & Operating a Family Business

Phenomenon of entrepreneurship.

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Entrepreneurship vs. Working as an Employee

“steve jobs” by walter isaacson, entrepreneurial leadership characteristics and types, what is business intelligence, the microeconomics and macroeconomics factors in a startup café, entrepreneurship journey case study.

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Apple Inc.’s Entrepreneurship: iPod and iPad

Entrepreneurs and opportunity recognition.

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Concepts of Customer Data Dynamics and Sub-Concepts

Finding financing for business startup, trait (or personality characterisitcs) approach to explaining enterpreneurship.

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Governmental Role for Business

Entrepreneur interview: local business store.

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Eco-Friendly Packaging for Food and Beverage Industry

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Traditional and Modern Forms of Transacting Business

Amazon and tesco: corporate entrepreneurship, starting a small business and planning, entrepreneurial intention in developing countries.

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Enterprise Computing Challenges and Enterprise Resource Planning

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Starting a Company in Singapore

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Entrepreneurship: Reducing Unemployment

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International Franchising and Its Benefits

Innovation management vs. entrepreneurship.

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Warner Media and Its Subsidiary

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Franchising and Its Advantages

Defining corporate entrepreneurship.

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Andy Keller’s Company “ChicoBag”

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Monzo Company as a Small Entreprise

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Foreign and Native Beginner Entrepreneurs

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Business Planning Process and Entrepreneurial Characteristics

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Entrepreneurship Themes: Potential and Skills

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Entrepreneurial Action Module for Modular Business Model

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How a Business Idea Becomes an Innovative Product

Khemka family and their beer business in russia, succession plan for a family business.

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Elon Musk on Start-Ups and Entrepreneurial Duties

Critical success factors for entrepreneurs.

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Social Entrepreneurship and Social Change

The entrepreneurial journey of foods future global.

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The Benefits of Considering Small Businesses in Government Contract Solicitations

Entrepreneurship: amara online shoe shop.

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Franchise Agreement: Term Definition

Establishing a food truck business in dubai, maha al-ghunaim, a kuwaiti businesswoman, free enterprise systems.

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Women in Entrepreneurship

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Experiences Critical to Entrepreneurial Development

Business models in contemporary art, a new business idea for the rolls royce company, revolutionizing independent cinema streaming.

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Application of Schumpeter’s Innovative Entrepreneurship Theory to Ooredoo

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Innovation and Entrepreneurship at Uber Technologies, Inc.

Discussion: being an entrepreneur, elizabeth hobbs keckley as a woman in american business, digital transformation for small businesses in indonesia.

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Entrepreneurship and Business Ethics

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Entrepreneurship and Leadership in Freelance and Real Estate

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Employee vs. Entrepreneur: Benefits and Drawbacks

New enterprise start-up plan: on-demand courier service to deliver medicine.

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Frank Zamboni, an Entrepreneur and Inventor

Sole proprietorship and internal control.

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The African American Entrepreneurship Development Program Evaluation

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The African American Entrepreneurship Development Program

The dopeplus social entrepreneurship.

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Luxury Linens: Review of an Interview With an Entrepreneur

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Entrepreneurship by Young People

Sole proprietorship: advantages and disadvantages, capability: business model innovation in mergers, characteristics of writing a business plan, entrepreneurial activity: the key aspects, entrepreneurial personality and decision to start a business, the determinants of self-employment for artists, a study of ooredoo’s practices in the context of schumpeter’s theory, discussion: female entrepreneurship in asian countries, types of business forms and their organisation, entrepreneurship and christian world view.

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Entrepreneurship as a Powerful Practice

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Kier Group Plc: The Impacts of COVID-19

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The Minority Business Development Agency Program

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Supporting the Innovative Entrepreneurs in Turkish Universities

Starting a business: a restaurant of national cuisine, entrepreneurial education for university students.

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The Book “Shoe Dog: A Memoir by the Creator of Nike” by Phil Knight

Family business succession in asian countries.

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Commercialization and Innovation Best Practices

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Establishing a Small Business Tourist Agency in the UAE

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Investing in an Offshore Wind Power Plant in Greece

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Crowdfunding Project on Kickstarter

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“The Art of the Start” by Guy Kawasaki

The innovation process: successes and failures, elements and infrastructures for technology startups.

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The Milaha Express Firm’s Possibilities in Qatar

Tips for Starting a Small Business

I t is a great way to start a new business. Where do you start? There are many ways to create a business. You also need to consider several important factors. Follow our guide to help you take the guesswork and increase your chances of success. You'll be guided through every step, from defining your idea to registering, starting, and growing your company.

Be Prepared Before You Start: Have the right mindset

Publicity is often drawn to exciting stories of overnight success. However, it's not always that easy—they can't see all the work you put into planning, building, and positioning for a public launch. Remember to stay focused on your own business journey and not compare your success with someone else's.

Consistency Is Key

New business owners are initially motivated and energized but become frustrated as soon as that motivation fades. It's important to develop habits and routines that will help you keep going when motivation is low.

The Next Step

Some entrepreneurs jump in without thinking and just make things as they go. Some business owners are stuck in analysis paralysis and need help getting started. You may be a mix of both, and that's where you should be. To achieve any personal or business goal, it is best to list all the steps necessary to reach that goal. Order the steps according to what must happen first. Some steps can take only a few minutes, while others may take hours. It is important to take the next step.

What is your top tip for launching a small company?

We asked entrepreneurs and business leaders for tips on launching a small business. Following a few tips can help you start your own small business.

Ask for Help:

Asking for help is the best advice I can give anyone wanting to start a small company. Nobody should try to reinvent the wheel on their own. If you're stuck with your business plan and don’t know what to do next, ask other entrepreneurs or mentors for their advice. Many people are willing and ready to assist you.

• Alex Johnson, CEO of Man and Van Star

Define and Embed Your Core Values: 

Establish clear core values that resonate with your mission and vision from the outset. These values will be your north star, guiding decision-making, shaping your company culture, and informing how you interact with customers and stakeholders. At Pumex, our commitment to excellence and customized solutions has defined our brand and consistently driven us to exceed client expectations.

• Chris Bourn, Chief Marketing Officer at Pumex

Embrace Your Unique Vision: 

Your business should reflect your passion and unique perspective. Especially in creative industries, distinguishing your brand with a clear, compelling vision is crucial. It's not just about what you do; it's about how you do it differently and better. In my journey, ensuring that Musa Art Gallery stood out for its unique approach to storytelling through design was fundamental to our success.

• Thery Benjamin, CEO of Musa Art Gallery

Surround yourself with experts:

You can't do everything. There are many aspects to running a small company. Look for professionals with different skill sets who are eager to work in an entrepreneurial environment. By combining your expertise, your team and you can help your business get off to a good start.

• Adam Jacobs, The Managing Director of Hunter Talent

Understanding the Financing Role

There are many options for financing a startup, from venture capital through a local bank loan to an unsecured loan. You can challenge yourself by deciding which financing option will be best for your business and when you should seek funding to help fuel growth. Small businesses that develop a financing plan can execute a better strategy to scale up with their capital requirements.

• Matt Jones, The CEO of Wonder Days

Market Research

Conducting thorough market research ensures your solution addresses a real problem. Following this, crafting a clear, concise business plan is essential, outlining your vision, mission, objectives, and the strategies to achieve them. At Big Ben, we champion innovation and efficiency, integrating these values from the inception of our business strategies. 

• Ben Johnson, The CEO of Big Ben

Strong Brand Identity and Company Culture: 

Your brand is not just a logo or a website; it's the experience you deliver. From the outset, define what your brand stands for and ensure this is reflected across all aspects of your business. Simultaneously, build a company culture that empowers and motivates your team. At Flower Delivery, our passion for floral excellence and commitment to joy and satisfaction are at the heart of everything we do, driving our success and resonating with our customers.

• Sarah Fletcher, CEO of Flower Delivery

Reduce Uncertainty and Increase Certainty

Reduce your uncertainty when starting a business. Does my idea work? Is this product a good fit for the market? Does my marketing plan work? There are many questions and few answers. It's normal for new businesses to have many questions. There wouldn't be any opportunity if all were clear at the beginning. You should still focus on reducing the uncertainty of your business by validating assumptions as early as possible. Run tests and engage in conversations with potential clients as early as possible.

• Johnny Austin, The Owner of Sell My House Fast Puyallup

Don't Be Afraid To Hire Professionals

I recommend hiring a professional to help you launch a new company. Many business owners may be talented in their field but need to learn how to start a new business. Professional assistance can save time by reducing research and ensuring you know what to do and when. This also reduces the risk of not knowing the federal, state, or local regulations required by the industry. It will also save you money over time as a professional can provide cost-effective, best-practice solutions.

• Chris Langley, Owner of Composite Doors

Know Your Audience

You may be putting a lot of effort into your company and yet it is not growing. You may be putting all your effort in the wrong direction. It's important to know the market in which you plan to launch your business and your target audience. Consider your product or service's needs to determine your target audience. Then, identify the pain point and determine who is experiencing it. If you want to start a company that creates websites, the next step is to determine who would need a website but would need help creating one. Your target audience in the example above is most likely small business owners. Understanding your target audiences can help you advertise more effectively as you will know who you are targeting and how to reach out to them. You'll also save money by not wasting it on uninterested audiences.

• Elia Guidorzi, The CEO of TECHNI Waterjet

I'm self-employed, and I've found 6 essential ways to invest in my business

• I'm a freelance writer, and I've learned that investing in my business and myself is essential.
• I use several pieces of software to maintain a website and track my email, revenue, and more.
• It's important to keep learning, so I use the Libby app and coaching sessions to gain new perspectives.

Running a freelance writing business has brought many learning curves, and one of my biggest realizations is the importance of investing in myself. Along the way, I've gotten a good sense of what expenses enable me to make more impact, whether it's a website that showcases my best work or one-on-one coaching from folks who understand the challenges of being a freelance writer and running a small business .

After three years of running my business, I have six tools that have been the most valuable. One of them is even free — but they're all an essential part of my budget .

1. A website for building a personal brand and showcasing my work

Having your own website ensures you have a central place to collect and share your work, such as links to talks and sessions, products you sell, and testimonials from past clients. You can also use your website to share case studies about your process for creating things, not just the final product.

No matter what you create, treat your website like a living, breathing place that you can continuously update as your work evolves.

I host my website on Squarespace because I appreciate that the templates are easy to customize without requiring knowledge of website development.

Other sites like Webflow offer more customizability, though, and Substack may be better if you're looking for an all-in-one platform for sharing a newsletter.

2. One-on-one coaching for getting an outside perspective

Running a business as a solo entrepreneur can be really isolating, which is why I appreciate one-on-one coaching as a way to get an outside perspective on how to evolve my business as it grows.

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These sessions have helped me negotiate higher rates, find new clients, maintain relationships with old ones, and discover new tools for tracking the impact of my stories.

3. Authory for tracking and saving stories

Instead of looking my name up daily, I can use Authory to get an email every time a new story of mine has gone live. It's equally great for saving an offline version of stories as a link or PDF in case the story is taken down later.

That way, I always have an archive of my work and can share links to past stories. I also love that my Authory page is a single-page view of all of my recently published stories, and I can filter by publication or search for keywords.

4. Boomerang for following up on emails

It's easy for me to send a dozen pitches in a week, and even easier to lose track of who has responses. I use the  Boomerang for Gmail email extension to automatically bring unanswered or unopened emails to the top of my inbox after a specific amount of time.

This way, I know when to follow up on pitches or emails without digging through my entire inbox. You can also use this extension to schedule messages or resurface messages after you're gone for vacation.

5. Quickbooks Online for bookkeeping

I still remember when I finally graduated from tracking expenses in spreadsheets to using Quickbooks Online, and I haven't looked back.

Quickbooks offers many ways to track revenue and expenses across different tags and categories, and you can upload invoices and receipts so everything is saved in one place.

Plus, I can use Quickbooks to draft, send, and save invoices, which makes it easy to use the tool as a singular view of how my business is doing and identify invoices that I need to chase down.

6. The Libby app for reading and learning on the go

Equally important to being a good writer is reading good writing. If you're looking for a free tool that makes it easy to read on the go, I highly recommend using the Libby app , which you can use to borrow e-books and audiobooks from your local library.

I use Libby to read books by entrepreneurs, small business owners, and writers that I admire, and reading using the Kindle app makes it easy to highlight key points and reference them on Goodreads whenever needed.

Some of my favorite books that I've read this way are "We Should All Be Millionaires" by Rachel Rodgers , "More Than Enough" by Elaine Welteroth, and "Wordslut: A Feminist Guide to Taking Back the English Language" by Amanda Montell.

No matter what tools you use, they should add value to your business, whether it's by streamlining a process, tracking your work, or empowering you to focus on what really matters.

Watch: Logitech's chief marketing officer tells Insider that creators 'take my brand places that I can't go alone'

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