Business Start-Up
- Submitted by: tpatrick
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- Category: Other
- Date Submitted: 03/21/2011 04:05 PM
- Pages: 14
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Abstract
The business world today viewed as fast paced, diversified and full of money to be made. If you have the drive to go out there take calculated risks and carve out your place in this ever changing world it could turn out to be a lucrative adventure. The entrepreneurs of today are doing just that, they are examining what consumer’s trends would be beneficial to their ideas, services and or products. To be successful in today’s market the modern day entrepreneurs are observing four key environments; The Economic and Legal, Technological, Social, and the Competitive.
In the United States we have the freedom to start a business at any time without excessive government regulations. An individual or group can start a business in their home or in a facility tailored to suit their business needs. There are many things that need to be considered when opening a new business. The four important issues are the economic and legal environment, the technological environment, the social environment, and the competitive environment.
Economic
The economics of starting a business are very important. Getting the money to start a business is one of the first things that should be considered before a business is started. The risk of losing the money has to be worth the reward. Before you start your business you need to decide what financial risk you’re willing to make for the possible reward. When I asked Jamie how much financial risk he was willing to take he had thought the greater the risk the greater the reward. If you really believe in your product taking a big risk is the best way to start a business. Jamie has a simple motto that he goes by when starting a business “Go big or go home.”
There are many ways that you can get the money to start a business, take out a loan on an asset that you own, have family and friends invest in your business, or get the money from organizations such as the SBA. An estimated ninety percent of all startups receive...
The business world today viewed as fast paced, diversified and full of money to be made. If you have the drive to go out there take calculated risks and carve out your place in this ever changing world it could turn out to be a lucrative adventure. The entrepreneurs of today are doing just that, they are examining what consumer’s trends would be beneficial to their ideas, services and or products. To be successful in today’s market the modern day entrepreneurs are observing four key environments; The Economic and Legal, Technological, Social, and the Competitive.
In the United States we have the freedom to start a business at any time without excessive government regulations. An individual or group can start a business in their home or in a facility tailored to suit their business needs. There are many things that need to be considered when opening a new business. The four important issues are the economic and legal environment, the technological environment, the social environment, and the competitive environment.
Economic
The economics of starting a business are very important. Getting the money to start a business is one of the first things that should be considered before a business is started. The risk of losing the money has to be worth the reward. Before you start your business you need to decide what financial risk you’re willing to make for the possible reward. When I asked Jamie how much financial risk he was willing to take he had thought the greater the risk the greater the reward. If you really believe in your product taking a big risk is the best way to start a business. Jamie has a simple motto that he goes by when starting a business “Go big or go home.”
There are many ways that you can get the money to start a business, take out a loan on an asset that you own, have family and friends invest in your business, or get the money from organizations such as the SBA. An estimated ninety percent of all startups receive...