The Success Of A Business Essay

1537 Words Jun 13th, 2016 null Page
The road to entrepreneurship can seem overwhelming to those without a business degree. In fact, it has been determined that the possession of a college degree does not guarantee success in the business world. Although a degree can be beneficial, the amount of successful business owners that never went to college proves that degrees are only complementary, not a perquisite for success. In truth, every entrepreneur must go through an initiation, or a rite of passage to go from wanting a business to having a business. If an entrepreneur is going to have a successful venture, starting the new business will require following a particular process from creation of vision statement, developing a product, marketing, financial analysis, and reevaluating the mission statements.
The first step that an entrepreneur must take is the creation of an idea. In order to have a business, it will be necessary to find something that can be marketed and then sold to obtain a profit. Even though it is not necessary to have a tangible product, the creation of an idea for services can be lucrative too. However, with the invention of so many gadgets and the advancement of technology, it may be harder to come up with a unique product that buyers are willing to spend money to obtain. Ironically, despite patents, most businesses are based on the improvements of someone else’s original idea.
Secondly, entrepreneurs must sell their ideas to obtain financing. This is usually achieved by a business plan.…

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