Entrepreneur Essay Example | Topics and Well Written Essays - 1750 words

enterpriser - Essay ExampleNot every person has the nerve and bravery of putting a braggart(a) amount of their money at jeopardy.Sid was ready to go ahead with his dream of owning a business and non doing a job under someone. He was ready to invest all his savings that were kept divagation for a nonher important purpose of a family by his wife. He not only invested money that he had, but also took major loans from the bank. And entrepreneur not only invests money into the business, but runs the entire circuit up. Sid fits the picture well because he had an entire plan in mind for the business of a crossing that he created, which also received positive responses from his friends and co-workers. As the entrepreneur, he worked out the business plan that verbalize the business objective, an introduction to the product, his manufacturing plant details, marketing techniques, financial funding reports, legal planning and even his military force hiring plans.Although, Sid did not hav e the discernledge that normally an entrepreneur would have because of his lack of professional degrees he managed to know enough for his use by the small management course that he did. He covered up for that by following the advice of his bank consultant who guided his through the steps towards the loan.In order to adopt his dream, Sid took a big risk of starting Ladder rails. The product was totally new and could have considerably failed to catch the consumer attention, but Sid did not lose hope and just like a successful entrepreneur entered the gamble. An entrepreneur needs to have passion and deep faith in his product and work, which Sid most unimpeachably did. Even in the first two years of the business, when losses were actually being made, he did not blame anybody else and took responsibility for it. Along with that, he did not lose hope that quick and with the satisfaction from the change magnitude sales continued with the business. Therefore, we can say that Sid is tr uly the definition of an entrepreneur.Q2. Not every business initiative tends to succeed in its mission, only certain ones with the necessary qualities cross hurdles and reach its destination. One of the canonic factors is a good entrepreneur running the business. Entrepreneurs are mint with different skills and qualities. There are usually four cornerstones that are crucial for entrepreneurs to possess - commitment to the opportunity, strategic drawship, organizational capabilities and persistence.For a business to succeed, the people running it should have strong faith in their plans. It is only with deep passion and commitment that a business can cross all hurdles, otherwise people tend to lose hope when there are many problems on the way. Sids business, Ladder Rail, initially had to face many financial problems. There were not enough funds available to start up a new business from the scratch or to buy plants and machinery for production. There were also some people who di scouraged Sid and later the losses made were dishearten in itself, but it was Sids devotion to his dream of a new business that gave him the strength to pull through.In order for a business to sustain and flourish in the future, the leadership should be strategic that is, the leader should have a vision in the future. Current activity should be such that the long full term goals are fulfilled and the business becomes much more lucrative with time. Sid was