Profile of an Entrepreneur Essay

The provision and use of personal protective equipment could include using gloves, glasses, earmuffs, aprons, safety footwear, dust masks.

In 1950, former J.C. Penny employee, Sam Walton opened Walton’s Five and Dime in Bentonville, Arkansas. By 1965, in the same small town Walton would open the first Walmart store unknowing that his investment would become the world’s largest retailer. By keeping sales prices low Walton was able to get ahead of the competition and successfully opened an additional store within the same year. Walton’s success continued and by 1967 his chain of stores had grown to 24 locations, and was bringing in about $12.6 million dollars in sales annually.

It almost seems ridiculous now because Walmart is one of, if not the number one, retail department store, but at one time people could not believe it would be successful at all. Though by 1970 Walmart was expanding and others were beginning to realize the potential Walmart had. Sam himself was shocked that what he had created was now booming. Sam was quick to credit not only himself but his loyal associates who were pleasing and meeting customer expectations. The relationship

I have always been interested in “doing my own thing” or, better known as, entrepreneurship. In high school, I would buy T-shirts, sweatshirts, and hats in bulk. I’d embroider little emblems on them and mark up the price by 100%. People at school would buy $1 shirts and pay $9 for my craftsmanship. However, I wanted bigger and better things. I channeled Andrew Carnegie in my approach to business: why just stop at my little venture when I could vertically integrate and market for myself? I decided to invest all my money in a new cause and thus, my own social media marketing company was born. The skills I’ve learned in starting my company is something that cannot be taught. I would relish the opportunity to grow and learn at an institution like The Stephen M. Ross School of Business that understands the importance of innovation and exploration.

The purpose of this business plan is to convey the vision for how Musically Infinite will become the preferred vendor of choice for music artist both novice and veteran. This plan will detail the vital steps involved in transforming an idea for a successful business into a thriving profitable pillar to the Metro Atlanta Area economy.

Rowland Hussy Macy opened the first Macy’s on October 28 1858 on 204 & 206 Sixth Ave in New york, New York. In his store he specialized in selling Dry Goods but he also sold items like shawls, gloves, hosiery, and embroidery items like lace. Macy’s first day sales were only $11.06 however, “ On December 1, 1859, Macy’s first year’s sales total was $90,000, with an existing store inventory valued at $34,000. Significantly, Macy reported that advertising costs amounted to $2,800 a figure that was approximately 3 percent of total sales” (Grippo). This was a huge deal because most companies only spent about 1 percent of their total sales on advertising and did not make as much money especially in their first year of business. Macy’s also was the first store to have catalogs with all the items his store offered listed. In addition Rowland Macy developed the “odd pricing” strategy where, “ Almost all items were listed at one to three cents below the dollar, implying savings to the customer” (Grippo). This method pricing is now used to today by store worldwide. Since he used these clever techniques Macy’s stores attracted bargain shoppers and since no one can pass up a great deal his store became very successful.

The structure of this assignment is comprehensive and integrative. It requires synthesis and evaluation of information, skills and knowledge developed throughout the BS program at KBCOB. This 8 week assignment (introduced the 1st week of the class) will serve as a culminating project.

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

Sam Walton was born in 1918 in Kingfisher, Oklahoma during the Great Depression. Sam obtained his work ethic from his father Thomas Gibson Walton who was a hard worker and had all sorts of jobs. He was a banker, farmer, farm-loan appraiser and an agent for insurance and real estate. He put in long hours, was honest and was known for his integrity. Sam also saw what a great

In the late 1940s, a man named Sam Walton was franchising Ben Franklin’s store located in Newport, Arkansas. As a retailer, Walton continuously was in search of suppliers with best deals on merchandise. Usually, if a retailer was able to get a deal from a wholesaler they would leave their store prices at the regular price and pocket the excess money. Being the innovator he was, Walton decided to pass the savings on to the consumer and make his money through the increased volume of sales. This understanding would become the foundation of Walton’s business strategy when he developed Walmart in 1962.

Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the

Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

The small business marketplace is extremely dynamic and the changes are fast. Here are some encouraging facts from the US Small Business Administration on small businesses. There are about 30 million small businesses in the United States and employ just over half of the country’s private workforce. They employ a staggering 40% of high tech workers such as computer professionals, scientists and engineers. More than half of the small businesses are home-based businesses and two percent of them are franchises. One of the most important aspects is the fact that a majority of innovations in the United States come from small businesses.

Have you ever had a miraculous idea? The kind of idea where your head keeps on spinning with intriguing questions, so many that your head might spin right off. Where to start and whose going to pay for it? Is the idea even possible to make? These are a couple of the question racing through your mind. The adrenaline is rushing through your blood steam. You want to tell everyone in the world, but in the real world there are people out their looking to steal those great ideas. Which in turn leads to secretiveness of the idea. In a sense it would be like spilling the beans on the Manhattan project.