Starting A Business Analysis

1751 Words 8 Pages
In today’s society many people dream of becoming a famous successful wealthy entrepreneur like Bill Gates; being your own boss rather an employee of a business. Running a business can be challenging but an excellent experience, rewarding, enjoyable, and inspiring; because you are in control of the entire business. For example, entrepreneurs get to decide the location of the business, how the business will look, who will they hire, what products are needed, the schedule of the business etc. Although this may be interesting, but owning a business can be stressful, frustrating, difficult, frightening and exhausting. Do you know 8 out of 10 entrepreneurs who start a business fail within the first 18 months or in the first five years of opening …show more content…
Owning a business can be exciting for most entrepreneurs because you are the employer instead of the employee; which you are in control of the money, the decisions in who you hire and fire, the location of the business, how much you will be paying the employees and managers etc. The negative side, of owning a business is it can fail at any time from owners having long working hours, lack of leadership and a business can be expensive. Furthermore, owners can be stressed out from working a lot in making sure the business will not fail; most of the stress comes from lack of confidence, needy customer’s, unpaid bills, competitors taking your customers, products are not selling, shortest of staff members etc. Businesses tend to mostly fail due to irresponsible owners not taking full responsibility for their actions. For example, poor leaders don’t communicate with their employees in making sure the business is running smoothly; and when an employee has an idea of making the business better the leader may ignore them and do what they choose is the right thing to do. What a lot of entrepreneurs don’t realize when starting a business is it can be very expensive especially if you don’t have a lot of money saved up in the bank. The business could suffer if you don’t pay the lawyer that helps you from having customer’s suing you and not paying employees and managers for working for you. In contrast, owning a business is not all bad in fact it can be a good thing if you are ready to take on that big responsibility. Successful entrepreneurs running a business show confidence, compassion, and motivation; have excellent leadership qualities like keeping up with their competitors, communicate effectively with their employees and managers, have a friendly attitude towards customers and most of all a well written business plan. Business

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