Entrepreneurship
I am a hardworking and visionary person. I have big a dream of what I want to achieve in life. I am a self-driven person who always strives for excellence, and achieving goals. In future, I would want to a be a successful entrepreneur running a successful franchise between at least three cities. Being an entrepreneur is very demanding and requires very strong personality traits. First it requires hard work. I need to be focused and hard working to get things done. An entrepreneur makes sure that the operations of his business are running and performing as expected. It will require hard work as an entrepreneur to make sure that things are working as expected.
As an entrepreneur, patience is very important as a character trait. The ability to be patient will allow me to make correct judgments about situations and avoid rush judgments. As an entrepreneur, there will be many challenges and it will require patience to solve. There will be times when the business is experiencing loses, or just not meeting expectations despite the best effort. It will require patience to gain the ability to persevere and not be overwhelmed by challenging times.
I am a competitive person. I will be able to spot new trends in the market and help my business to implement these new developments and catch up with the competition. As an entrepreneur I need to be aware of the existing market trends and adapt accordingly or my business will fail. Having a competitive spirit is essential to survive as a business. Bringing my competitive spirit and keeping watch of the competition will help my business to always stay ahead and keep up with the market trends and avoid being driven out of the market.
The ability to work as a team is another trait which gives me an advantage when I start my career. Team work is essential in entrepreneurship as it requires you to assemble a team which will work for you. Being a team leader and coming up with the right team to perform the work is a very important trait and determines whether your business will succeed or not. I believe that I have the right judgment to pick the right team members and coordinate them to work together and cooperate. My ability to form good team comes from interactions with classmates and friends at home. I usually provide the best solutions on how to achieve things. This ability to plan things for group work will help me build a team which will fulfil my goals.
I value integrity. I believe that integrity is essential to success. Being an entrepreneur, being honest with your stakeholders is very important. From suppliers, employees and customers. It will help build trust. Trust is essential in business and they make important business relationships successful. The loss of trust will threaten the success of the business. Lose of trust will mean lose of customers and suppliers. The ability to maintain integrity is essential as it will maintain good relations with stakeholders and avoid violations of the law which might lead to big fines.
I believe that my personality traits fit well with the demands of the entrepreneurship. An entrepreneur is someone who thinks about the future, and makes decisions which fit into that model for the future. I have a vision and know the direction which I want to take. I am also committed. Commitment is necessary to stick to the course even in challenging times. I also have the patience which is very much needed. Decision making requires patience to make the right decision at the right time. Lacking patience will lead to rush decisions with negative financial consequences and missed opportunities.
Despite all preparations, entrepreneurship is a very challenging field. There will always be challenges which threaten the future survival of the business. As an entrepreneur needs, I must be able to navigate these contradicting situations especially the hard times. Also, during good times it is important not be carried away by the success and forget to be focused. As an entrepreneur, I must be focused all the time. There is no room to be distracted and let the business continue on its own. Good management skills require constant monitoring of the business and ensuring that it is meeting expectations.
Management is a very important skill in my future career as an entrepreneur. The ability to manage determines whether the business will survive beyond a year or not. Management is essential as the decision made by a manger affects the operations and survivability of a business. A manager makes hiring decision, personnel, and operations decisions. Having the necessary managerial skills is necessary of showing leadership and direction to grow the business.
I am very optimistic about my career prospects as an entrepreneur. I intend to pursue my entrepreneurial spirt immediately after graduation. Within the first I plan to open my first office and branch of the business. I will start with a clothing line. I will offer the best designs in the market I will partner with designers and employee the best staff who will look for important regular clients. I expect the business to be operational within six months of opening. These early months are crucial as they set the pace for the future of the business. I intend to focus on the fist branch for three years before thinking of expansion. My plan before the fifth year of operation is to open another branch in a different location. The first three years will be dedicated towards the first branch. From the fourth year is when I will begin plans to open another branch. By the fifth year, I expect my business to be profitable and already opened the second branch successfully. To start my business, I intend to take a family loan which will be repaid within five years. The loan will help in establishing the premises, and hiring staff, and operating the busies for the first six months. The initial capital will help keep the business afloat as it looks for clients. I am very optimistic and very eager to start my entrepreneurial journey.
