The Challenges Of Entrepreneurship

Nowadays, businesses are growing rapidly day by day. As the businesses have grown, the competitiveness in business has also increased which means the business must be able to maintain in high-confident economic situation or survives in the economic crisis situation which could be changed anytime (Thurik & Wennekers, 2010). As a matter of fact, sometimes the economy crisis also might be causing business bankruptcy and failure which ironically could be dangerous for the employees’ futures. Hence, in order to avoid the unpredictable situations, the workers or employee need to set up their mindset and abandoned their worker mentality (Pinchot & Pinchot, 1996). Eventually, by being an entrepreneur or small business owners, these workers are able …show more content…
Piperopoulos (2011) make the important point that entrepreneurship is process of control, manage and run a business venture. Basically the entrepreneurship is requiring some of skills and techniques such as communication, marketing, basic management, interpersonal and leadership skills (Brooks, 2015). These skills are really important to be understood in order to face the challenges. For instance, if the entrepreneurs want to implement the ideas in society, they will need a market analysis to attract the people toward the ideas. Entrepreneurship also gives better opportunity on how the business ideas can beyond the normal business landscape (Lumpkin & Katz, 2011). Furthermore, entrepreneurship plays a big role in society. For example, Entrepreneurship roles in reducing the level of dependence on others and providing employment for job seekers (Volery & Pullich, 2010). With the absorption of labor by employment opportunities which has been given by entrepreneurs, the unemployment rate can be reduced …show more content…
In the real life, non-expert people in business might think entrepreneurs and normal business owners are equal person who making the money. Nevertheless, entrepreneurs are normally a person who has a unique ability and provide a unique solution to manage their philosophies and ideas (Spring, 2014). Entrepreneurs also come up with their focus on the big idea and tend to focus for the business future rather than caring their present situation. In contrast, normal business owners tend to have a good preparation to deal with the goods and services while entrepreneurs would not think of the preparation and strategies (Munila & Miles, 1994). Likewise, entrepreneurs would take a risk and create a defiant invention to break the business uniformity which normally prefers to wait until someone creates a new solution (Volery & Pullich, 2010). The important fact that makes entrepreneurs and normal business owners is different it is because of the people particularly on the job description. For example, entrepreneurs love discovering new ideas and do some research to get potential things and stuffs that can be great products when small business owners analyze to make the business more profitable with the strategies that they have been prepared for the future markets. In addition, the approach between entrepreneurs and normal business owners are also slightly different in terms of communication