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The Life Of An Entrepreneur Essay

1921 words - 8 pages

The ability to become a boss takes many treacherous years of hard work and dedication. It may even require the firing the current boss. If only there stood a career in which a person could become a boss right away. Entrepreneurship allows a person to run their own business by starting their own company and can be full of opportunity through becoming their own boss. Entrepreneurship started many years ago. An entrepreneur is a business person who starts his or own business in hopes of making a profit. Many famous people in history were the first entrepreneurs. Marco Polo had ideas of trading with Asia via venture capitalists in the 13th century. All of Polo’s expeditions were financed by ...view middle of the document...

"Failures seen as lessons, getting closer to goals, reaching new heights, with them at the controls” (Niehoff). This showcases that an entrepreneur must be able to look back on failures and learn from them. An entrepreneur must set goals so that new heights are possible. Contrary, an entrepreneur could also fail.The poem The Failed Entrepreneurs by Veeraiyah Subbulakshmi shows the possibility of failure. “From the colorful walls, their memories are removed, the dining table at the center, wiped and cleaned” (Subbulakshmi). An entrepreneur who has failed was once filled with ideas that must be removed since they were unsuccessful. The entrepreneur must clean up their act and try again to make a successful business. When the business fails, many people will also become enraged. “The angry creditors are waiting at the entrance, the frightened tenants have left with their suitcases“(Subbulakshmi). A failed entrepreneur must pay back many people who many have invested in his or her business. If a business files bankruptcy, they may not be able to pay back their creditors the full money they are due. A business will file bankruptcy for this purpose so that they do not have to give up as much money as they originally would have. The entrepreneur is scared and leaves without even putting up a fight due to being most likely bankrupt. As a result, failure remains a possibility that must be dealt with in a scrupulous way.
An entrepreneur has a unique job description compared to others. In order to make a profit, one must be full of motivation. Motivation means that no matter the circumstances, the entrepreneur will keep trying to keep the goal of making a profit. This is needed to any business to be successful. To add, an entrepreneur must also be full of innovation. Innovation means being able to invent or introduce something new at all times to make a profitable business. If innovation is performed, then people will keep placing their trust in the business due to the constant flow of new products and ideas (Clarke). Thus, an entrepreneur must acquire many unique skills to become successful
An entrepreneur must be full of responsibility to keep the business on track. Some minor responsibilities include organizing, controlling, and purchasing raw materials. Other minor responsibilities include throwing in their own inventiveness and managing the venture. Some major responsibilities include assuming the risks of a business, assuring the business gives the correct return on the capital employed, and convincing investors that their business practices and ideas are sound (Clarke). One can assume that an entrepreneur has many responsibilities.
Many people choose to become an entrepreneur for many reasons. In an interview with Rob Plank, he offered reasons as to why he chose to become an entrepreneur. "I felt as if I could do more than what I was allowed to do under the constraints of a large corporation. In addition, there was a hunch in 2002 that...

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