Unit 3.1 Business Risk P1

SOLE PROPRIETORSHIP: Sole proprietorships are the most common form of business in the United States. You and your business are one in the same. While being your own boss as its advantages, like working your own hours and collecting all profits made by the business, there are some disadvantages. For starters is coming up with starting working capital. Most Sole Proprietors have to seek funds from other sources.

If you start your own business there are many benefits but if you do not know what you are doing, you will fail. You must have a motif, a passion and be willing to sacrifice in order to do what you have to do. Having a business has many benefits like having the ability to fluctuate your hours, building relationships, sharing your knowledge or products. But managing a business is not easy it takes a lot of hard work, dedication, and consistency. A business could make millions one year then be bankrupt the next because the economy is not always the same. You must be able to manage your money well because you must have capital to buy inventory whenever needed, while maintaining a budget to support your family, and to put money away for retirement. Because you could have one really good month but then next month could have no consumers. So your business must be your

Owning your own business is just about every person dream. To be one’s own boss and have the control, to make the money, the have the power, but to be able to make a positive impact one not only the community but individuals is a great way to be a truly successful businessman. To know that you have helped your employees to succeed and to make a great impact in them a person that is the kind of boss I want to be.

In terms of being a business owner, Yooree believes that the pros of owning one’s own business is that it is very rewarding, one can set their own schedule, the job can be positively challenging, it is possible to create an unlimited destiny, and it gives people an opportunity to grow within themselves. The cons, however, are that the work is never done, and solo entrepreneurship simply means that there are never enough people to help with the

Working by your own entails to make decision about your company every single day. For the most part everything relies on the business owner even if you have employees. An entrepreneur needs to ask and learn about their company as much as possible and frequently. Under the name of the owner or president, you are responsible to keep bringing work for your workers, payroll, materials, labor, clients keep up to date the accountant books, and with the state and federal treasury and the list goes on and on.

Stringedinstruments.com is a site to buy instruments. The owner of this high street shop is seeking to launch his business to a good and profitable business but it is not an easy job as many things need to be taking care of. Here are fives objectives that this shop owner could use in order to launch and achieve some valuable point in order to gain more customers and more profit:

Not having a boss allows one to have freedom to do things the way they please. For example the income may be spent as needed or pleased. One can do reconstruction, according to what needs done, not how someone else wants it done. Also income must go to restocking supplies and paying yourself and employees. Owning your own business isn’t always fun. To have an art career and owning a business one must have a high school diploma (“craft and fine artist: occupation outlook handbook”). One also needs to focus on logistics, like budgeting, satisfying the customers, and clean-up

Business has been close to me since I was young, my parents are both business owners so I saw the inner workings of both a trading and a service company. My parents have taught me the theories and ideas of running and growing their companies. Because business was so close to me in my childhood, a passion started to grow.

* Part 3: Target Market and Customer-Related Issues- We scored a +4 and a high potential of a business idea. Some suggestions and ideas to improving this is to some how find ways to create barriers of entry for competitors.

As a successful independent entrepreneur, I am able to work wherever and whenever I please. I am able to travel the world and teach others how to properly obtain the success that they 're looking for.

Five advantages for owning your own business are: 1) The owner receives all profits, meaning that all earnings go to the sole proprietor, or the owner, and isn’t shared with anyone else. The profit is not split among partners, or split among a corporation. So when you own your own business, you’re the first and only one that receives all earnings and profit. So if a person has a successful firm, he/she is the first to reap the success and rewards. 2) Another advantage

Introduction: It defined as “a process of investing money for profit or material result”. It requires a small amount of tolerance for risk, patience, and a dedicated time horizon. Investing is a great way to save for the future. As long as you are disciplined, you will not have much problem getting around it. Reports have shown that investing in stocks of successful companies has made many people wealthy. One of such companies is Intel Corp; a company in the Semi-Conductor Industry.

For some people, being the boss, and which by boss I mean business owner, would be the greatest thing ever. Most think you get to pick your own hours, make the most money, and make everyone do the things you want done. Of course there is work involved and it takes work to make it but the rewards will be better owning a business that succeeds. The ultimate goal is becoming a millionaire and retiring at the age of forty and just drawing money from business production. However they really don’t understand the work it takes to make it a million dollar company. When these people are finally able to own a business they get a rude awakening. I am in no way trying to offend the typical business owner when I say, owning a business can be a challenging task that can cause many complications in your life and if you’re not careful they can change your life entirely.

There are so many advantages of owning your own business. You can become whomever you desire. There is a wide variety of opportunities to having your personal business. You can do so many things! One of my head goals in life is to own my personal dance studio. I chose this business area because working by myself will allow me to reach out to other children in a way that cannot be expressed through by working with other companies. One of the main key areas of building your personal business is knowing the structure of the site. When you’re in this process, it is important to know the companies you hire to manage the exact way you want your business building to look like. You should always have a blueprint of the shapes and forms you want

Person who runs the business and person who assists and works for that person experience different emotions and work to do, but both of these jobs have their own cons and pros. Person who assists to run the business cares only about the wage that he or she gets in the end of the month, while the businessman cares about the whole organization, including staff, all the property, wages of his workers, working environment, advertisement, and else. The more power and opportunity you have, the more responsibility and problems you get. That one person who runs the company should make a perfect environment to work, including people who work for him, because they are a big part of his business that manage to realize his ideas, and make them work properly. More than one million people create their own business every year. All of them have an idea that they believe in, because idea plays a huge role, but it is not the only thing. Business is more than just an idea, and some people forget it and start without even being prepared. It needs a lot of time to plan, and also it requires certain people. Furthermore, it needs financial funding. Before even starting to prepare to be a business executive, person should ask himself if he is ready for that. Do I have that personality and skills to be successful in business? Do I have what it takes? I am sure that I do, so do my parents. That is the reason why I am continuing to make