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SpinDistribute.com Article Directory

The following article was published in our article directory on May 10, 2013.
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Entrepreneur equals financial freedom

Article Category: Advice

Author Name: Louis Miller

Are you a leader and innovator of new ideas and business processes? Are you an individual who has great management skills and has that in borne ability to bring people together towards one common goal? If you answered yes then you are the type of person who will be most successful as an entrepreneur.

Perhaps you are inviting the idea of being an entrepreneur because you are faced with social and or economic constraints. Before you can become an entrepreneur you must know the role of an entrepreneur is mainly decision making and organizing the factors of production create goods and services. As an entrepreneur we must make a decision on where to locate a business, make a decision on who are the best qualified workers to employ and to select the right type of machinery and technology to use to ensure maximum productivity.

There are a few things you have to keep in mind when you decide to become an entrepreneur. First you must know if you have the qualities to become an entrepreneur. So you are made to be an entrepreneur fine enough but you cannot be an entrepreneur without a business. To start a business you need to have a business plan. You can either create one for yourself or if you decide to invest in a company that already exists then you can copy their business plan. A business plan will help you figure out the steps you need to follow to start up and develop your business. In other words your business plan is your blue print.

Once you have a business plan you will need to find capital to fund your business. An entrepreneur must figure out how to get money to start and maintain his/her business. Some entrepreneurs will have no problem sourcing money for starting up the business. Most times they have been saving up for a life time waiting for the right moment to get started. Some persons will borrow money from financial institutions and or family members to get started. Some entrepreneurs will attempt or use a combination of savings and loans whether from family or financial institutions. Either way of finding capital the entrepreneur will know which one is best for him or her.

The next step for an entrepreneur is to decide how they are going to market their product or service to consumers. Are they going to attempt it on a small scale or are they going to do large scale. Of course it all depends on their capital and the demand of the market. An ideal situation would be the person who is able to fill a demand where there is no supplier. This would mean that the entrepreneur would have no competition and would already have a customer base. Another great scenario is if you choose to invest in a company that already has a customer base and a recognize brand or name the entrepreneur finds him or herself in a win win situation.

Finally all an entrepreneur needs is determination and persistence. You must be willing as an entrepreneur to put in time into building your business. Depending on the type of business it may require different levels of time invested into building it. At the end of the day time spent will be measured by your success and profits. Some people are lucky to find a business that requires little time but yield great profits. Do what makes you happy and what you are good at so you may enjoy the entrepreneur experience. Good luck and I wish you success and wealth.

Keywords: Entrepreneur

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