Case Study: For The Love Of Entrepreneurship
Though it is great having help with the business but there may be times when partners will disagree with each other about the finances, the management, the employees, and the products/services of the business. Another disadvantage is unlimited liability; this means that all partners are responsible for their part of the business. And if one partner is not able to pay for their part of the debts then the other partner(s) must pay for it in order to keep the business running (Partnership Advantages and Disadvantages).
The last type of business is a sole proprietorship. A sole proprietorship is when one person owns a business. “Over 70 percent of the U.S. businesses are owned and operated by sole proprietors” (Beesley). Many people open their own business because the east of start up, they get all the profits, and every aspect of the business is on their own terms with for the business. But some people do not become sole proprietors because of the unlimited liability, not having enough resources, and not having enough money to keep up the business. But that is a risk that I am willing to …show more content…
The stress comes from eager customers who want the product right then and there, but what makes it rewarding is when you’re done you look at it and think ‘Wow! I actually did this’ it also comes from the customer. When you see them smile at the creation you made it makes you feel accomplished. It makes you feel like you can do anything. And I know it may sound funny, but it give you that sense of purpose in your life and in other people’s lives.” Any business that you own or are a part of you have a purpose. Whether you are a café owner or a doctor you have a purpose. Another question I enquired was, to you what does it mean to be an entrepreneur? He said “To be an entrepreneur it means that you are successful. You are the only person you can work for. That nobody can take anything away from you. It means that you have a chance in life. That you can do anything! That you can be you and show it off to the world, the business world. It means that you reward yourself, you blame yourself, you create yourself, but most of all you find out who you really are.” I completely agree with him because after somewhat being in the business world I know it is the place for