Want To Be On Top Essay

1182 words - 5 pages

Have you ever wondered who thought about the idea of creating a multinational retail corporation here in America called Wal-Mart? Sam Walton - founder of Wal-Mart was behind that idea. Sam Walton is an example of great entrepreneur who wanted to make his business successful. An entrepreneur needs a variety of skills but does not need to have a formal education. Being an entrepreneur is challenging even if an individual is well educated on the field or has no education at all. There is always the risk conducting business because of the competition with other companies. However, what does an entrepreneur do? Do you have what it takes to be on top the business world and compete ? An ...view middle of the document...

Entrepreneur creates and protects businesses and employees against competing businesses to other companies.
Entrepreneurs are optimistic and future oriented, they believe that success is possible (Source: C).They are willing to risk their resources in the pursuit of profit (Source: B).They are fast moving, and willing to try many different strategies to achieve their goals of profits, and they're flexible, willing to change quickly when they get new information. These characteristics are necessary to be on top on the competition. The one thing that all entrepreneurs have in common is to be “recognized in the business world as having an idea and putting it into action” (Source: C).
There are various types of entrepreneurs. The most common one is the social entrepreneur. “Social Entrepreneur is someone who has innovative ideas for social change or new solutions to social problems and dedicates their time to these ideas”. This might include addressing issues of inequality or poverty, or creating a new charity to address such issues. The other one is the serial entrepreneur. “A serial entrepreneur refers to someone who has a lot of ideas and constantly starts up a new companies or enterprise to implement these ideas”. Generally, a serial entrepreneur will have achieved good success or successes with previous ventures, allowing him or her to start up new ventures. The last one is a lifestyle entrepreneur. A lifestyle entrepreneur refers to someone who starts up their idea or venture based on something they are passionate about, such as a sporting venture relating to their favorite sport. For this type of venture, usually large start-up costs are required and often people who have been successful in the business world might make this transition to get involved in something they are highly passionate about (Careers - Source: C).
Being an entrepreneur, you have to have common characteristics and skills. These includes budgeting your time appropriately, and strong organizational skills to improve your skills. The second one is knowing how to prioritize. Like figuring out what is most important to do and doing those tasks that you enjoy or find easy. Knowing which tasks should come first is the most important quality to have. An entrepreneur knows how to set and achieve goals. Knowing the different styles and methods for achieving what you want is an important quality for an entrepreneur too. An entrepreneur is good at developing solution to problems that allowed you to be able to think of a variety of options on your own (Source: A).
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