What kind of Entrepreneur do you want to be?
According to the Advanced Learner’s dictionary, an entrepreneur is a person who makes money by starting businesses, especially when this involves taking financial risks.
We have basically three different types of entrepreneurs, namely:
1. Self employed entrepreneur: This type of entrepreneur starts the business and runs it by himself. He is the sole financier of the business. He takes decisions without consulting anybody. This type of entrepreneurship has some certain advantages above all other types, namely; he does not have to worry about worker’s salary, or workers allowance, he pays himself and operates the business the way he chooses.
One of the biggest disadvantages of self-employed type of entrepreneurship is that the business dies when the owner dies.
2. Business Owners: other people more competent than him can refer to a person as a business owner if he owns a business that his managed. This is a position that most people want to occupy.
One of the unique advantages of this type of entrepreneurship is that the business continues to grow even in the absence of the owner. Even when the owner passes on, so far there are still competent hands that are dedicated, the business does not die, except if it is a family business. No one should build his/her business around his family; otherwise it stands a 80% chance of collapsing after his death.
As the popular saying goes, “every advantage have its own disadvantage”, Business owners also have their disadvantages, notable among them is the certainly of paying workers salary, as a business owners, you hold it as a duty to your workers to pay them their monthly salary irrespectively of the sales or profit realized within that month.
3. Investors: The class belongs to the rich. As an investor, all you do is look for a very good business idea, finance it and share the profit with the owner of the idea.
But, the entrepreneur must be very careful before financing any business idea; otherwise his money may be lost in the process. So it is always better to consult a good lawyer and consult lots of people to get their contribution about the idea.
In summary, if starting a business of your own excites you, start at the first level of self-employed, build your business plans with a view of the expanding in the future and growing to business owners and ultimately to an investor.
We have basically three different types of entrepreneurs, namely:
1. Self employed entrepreneur: This type of entrepreneur starts the business and runs it by himself. He is the sole financier of the business. He takes decisions without consulting anybody. This type of entrepreneurship has some certain advantages above all other types, namely; he does not have to worry about worker’s salary, or workers allowance, he pays himself and operates the business the way he chooses.
One of the biggest disadvantages of self-employed type of entrepreneurship is that the business dies when the owner dies.
2. Business Owners: other people more competent than him can refer to a person as a business owner if he owns a business that his managed. This is a position that most people want to occupy.
One of the unique advantages of this type of entrepreneurship is that the business continues to grow even in the absence of the owner. Even when the owner passes on, so far there are still competent hands that are dedicated, the business does not die, except if it is a family business. No one should build his/her business around his family; otherwise it stands a 80% chance of collapsing after his death.
As the popular saying goes, “every advantage have its own disadvantage”, Business owners also have their disadvantages, notable among them is the certainly of paying workers salary, as a business owners, you hold it as a duty to your workers to pay them their monthly salary irrespectively of the sales or profit realized within that month.
3. Investors: The class belongs to the rich. As an investor, all you do is look for a very good business idea, finance it and share the profit with the owner of the idea.
But, the entrepreneur must be very careful before financing any business idea; otherwise his money may be lost in the process. So it is always better to consult a good lawyer and consult lots of people to get their contribution about the idea.
In summary, if starting a business of your own excites you, start at the first level of self-employed, build your business plans with a view of the expanding in the future and growing to business owners and ultimately to an investor.
posted by Jayde Orlando at
2:09 AM
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