Intelligence into Success

1421 Words6 Pages
Many people dream and often fathom about starting their own small business. Becoming a successful entrepreneur has been part of the American dream since the early 1800‘s. In addition to giving a person the ability to make his or her own decisions, business ownership opens the gateway to financial independence, creative freedom, and more time to spend with family (Smallbusiness.com). Nevertheless, how hard would it be to start a small business and be victorious? “Starting a business involves planning, making key financial decisions and completing a series of legal activities” (U.S. Small Business Administration). Overcoming in a very competitive world takes a lot of motivation, discipline, research, planning, and most importantly, intelligence. Of course, the risks that come along with business ownership are endless, “but ask any successful business owner, and they’ll verify that working hard in the beginning will pay off in the end” (Smallbusiness.com). Although a bachelors or masters degree in business may make the road to entrepreneurship a little less difficult, education is only one ingredient to building a great business. In order to succeed in starting a small business it is necessary to not only have a formal education in business management and administration, but it is also essential to gain actual hands on experience in the field. While all the excitement and anxiety in starting a small business may be overwhelming, the first step is to intelligently develop a well organized business plan. No small business expert would dare recommend starting a business without one, there is simply too much at stake. Invested Money, family, and potential employees are all on the line. However, “There is no single formula for develop... ... middle of paper ... ...l. (2011): n. page. Web. 16 Nov. 2011. http://online.wsj.com/article/SB1000142405311190355490457646014377509508 6.html?mod=WSJ_SmallBusiness_LEFTTopStories. Irving, Shae. "Small Business." Nolo's encyclopedia of everyday law [electronic resource] : answers to your most frequently asked legal questions . 5th ed. 1. Berkeley, CA : Nolo, 2003. Web. 16 Nov 2011. "Starting a Business." IRS. IRS, 01,July,2011. Web. 16 Nov 2011. http://www.irs.gov/businesses/small/article/0,,id=99336,00.html. (IRS) "Starting a Small Business." Smallbusiness.com. N.p., 05,Oct,2010. Web. 16 Nov 2011. http://smallbusiness.com/wiki/Starting_a_small_business. . "Thinking About Starting A Business." U.S. Small Business Administration. SBA, n.d. Web. 16 Nov 2011. http://www.sba.gov/category/navigation-structure/starting- managing-business/starting-business/thinking-about-starting.
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