The Entrepreneurial Sequence Essay

Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood.

Skills, traits or characteristics are essential ingredients in being a successful entrepreneur. Although these ingredients are numerous, an entrepreneur should develop the ones that are relevant to becoming successful. This paper will first examine skills, traits, and characteristics that are more important to have as an entrepreneur. Then, we researched and explored entrepreneurs who co-founded an intriguing online business that has gravitated to other countries and finally, we examine how they started the business and what they are doing to remain successful in their entrepreneurial venture.

Slowly he became market leader for that product. Entrepreneurship has been defined by several researchers as the progression of making a product or service valuable by gathering a distinctive set of resources and opportunities. This procedure comprises the set of accomplishments to recognise opportunities, business classification, evaluation and obtaining the essential resources, management and getting positive results. Furthermore, entrepreneurship has been seen as an organizational coordination that underlines the three extents: innovation, taking calculated risks and proactive orientation. There are many indications to provision the idea that the businesses which were engaged in entrepreneurial practices have been most effective and successful (Hills, Hultman & Miles, 2008).

Also discussed in the video was reasons people become entrepreneurs such as living the “American dream”, freedom or independence of becoming your own boss or just the passion of starting up your own business. Types of entrepreneurships are micropreneurship for example, starting a home or web based business. Intrapreneurship that is, a small business within a corporation, which helps your business start and operate through sponsorship from

This article tells how a young entrepreneur named Ben Casnocha started his successful business lifestyle at 12 years old. At 12, Ben started his first company. When he was in the sixth grade he wrote an HTML code to make ComplainandResolve.com. Ben founded a software company called Comcate Incorporated at age 14. He raised about $250,000 to start Comcate. “My Start-Up Like” is a book Ben coauthored when he was 19. The book is an entrepreneurial how-to manual. The book has been described as informative and entertaining. It allows readers to gain insight into the mind of an American entrepreneur. The book was wrote to recount Ben’s finding of his e-government technology firm, Comcate. The next book Ben coauthored was “The Start-Up of You: Adapt

Becoming an entrepreneur means having creativity and being able to sustain a successful business. Doris Christopher was all of that she founded the Pampered Chef. She sold small things like kitchen tools, food products, and cook books she was able to go from nothing and doing everything in her basement to having five thousand workers. Also Pampered Chef offers some she used her own creativity and turned it into a multimillion business. Pampered Chef was only worth three thousand dollars when it first was founded she well-earned title entrepreneur.

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

Francisco Cantor, Booth ’16, was bitten by the entrepreneurship bug during his undergrad days. He built a company for importing and distributing mobile phone accessory in Venezuela. The company was a huge success. He sold it off after some time, and tried to venture into another vertical- Retail. This venture turned out to be a total failure. Upon reflection he realized that the offerings were too high end compared to what people were looking for.

Entrepreneurship is difficult to define throughout its history research. Even nowadays, this concept is still a debatable point (Rajendra, et al., 2017). Based on four decades of research, Gartner (1988) concludes that entrepreneurs are founders of new firms. Shane and Venkataraman (2000) consider entrepreneurship as “a new venture’s risk-taking endeavor seeking an opportunity” and Fortunato (2014) adds innovative value into the concept of entrepreneurship. Thus, research on the definition of entrepreneurship continue. According to those diverse views, I will interpret six unique entrepreneurial characteristics and theoretically analyze each one. Risk taker, need for achievement and proactivity as my strengthens will be illustrated with my experience. Innovativeness, internal locus of control and tolerance for ambiguity are my weaknesses, thus I will describe relevant successful Entrepreneurs’ experiences.

Entrepreneur motivation can come from a person’s life experience. Past jobs, a person’s family business, or education is an example of this. Life experiences can motivate someone to open a business because the person has already experienced it and knows what they are doing. They have seen what it is the business will need in order to be successful. This is beneficial for the business because if the leader knows what they are providing for the customers, the business will go well.

Students who are working towards a business administration degree may be considering opening their own business. WAIT a minute; in school students don’t learn how to start a business. Students learn skills in: Math, Statistics, Accounting, English, Economics, and more. Even though they don’t necessary learn how to start a new business, students gain knowledge on necessary skills that they may need to operate a business. When a person opens a business it usually means he/she is an entrepreneur. An entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Sometimes this financial risk can be good or bad. “Unfortunately 8 out of 10 people who start a business crash and burn within 18 months, this means that about 80% of start-ups fail” (Wagner, 2013). Although starting a business very risky, expensive and can take a long time to develop, but in the end starting a business is definitely worth it. This paper is meant to help those entrepreneurs who are unsure about the process and options they may have access to, in order to start that business and take on the risk. In the following paragraphs this paper will go over ways to start a business starting with (a) developing a business plan, (b) building a website, (c) capital, (d) financial (e) establishing customers and maintaining profits.

Today we face an unprecedented raise in the entrepreneurial activity around the world. Such trend has not been seen since the times before the industrial revolution. Millions of people coming from widely diverse backgrounds, at different ages start new business ventures. Experienced professionals, students, academic researchers, famous business tycoons and average corporate employees, worldwide, peruse new business opportunities and introduce new products and services to the global and local markets. However, statistics show that 63% of the technology startups, which are in the main focus of this essay, do not continue operating after the fourth year of their establishment (StatisticBrain, 2014). Such failures do not only cause significant damages to the founders, investors and people employed by these companies, but also bring negatives to the entire society and business environment as the time, dedication and competences of these people are inevitably wasted (Ries, 2011).

Most of these aspiring entrepreneurs will start a lifestyle business, primarily providing employment to themselves and their families. The rewards of such a business is the ability to control the company, able to continue to do what the owner loves without having too much risk, have a positive cash flow from the early going. The owner only has to report to himself, have a relatively constant cash flow and able to take time off whenever he wants.

But indeed, as simple it may seem, it is a path that is full of challenges, but with very fruitful and promising outcomes, which acts as a motivating factor for an individual to put effort and time into his/her idea from beginning till end. With such an image in mind, the author is trying to convey the idea of why the current generation of individuals should indulge in a startup? Therefore, to build a foundation for such a persuasion, he uses some of the key points as the argument pillar and expanded upon them. Such key points would be; understanding the core concept of the startup, likelihood of why someone should pursue it and finally the challenges associated with such a venture, and how to solve such issues.

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.