Unit 1 Discussion Board:
If money wasn’t a problem I would definitely open my own business. Even though starting up a business can be very risky due to the start up capital. I would be a risk that would be worth taking. Even though I would be putting in long hours and not knowing the outcome of my businesses capital. As an Entrepreneur I have confidence in my ability to succeed in my business.
Some factors that an entrepreneur should consider before choosing a form of ownership would be the amount of time needed to be dedicated to the business. Most small businesses owner usually spend 52 hours a week and their business. 6 or 7 day week with no vacation is pretty normal when starting a business. So the entrepreneur need to be careful and thoroughly think wither spending that much time in a risky investment is worth it
Another factor that an entrepreneur needs to consider when starting up a business would be the high level of stress involved with the startup of the business. Yes starting your own business can be a very rewarding experience but it also can be extremely stressful. Everything rests on your shoulders. Your investments, the way your customers think of your business, finances etc. This can lead to psychological blows because of the constant worry of the business.
I one hundred percent agree with the professor. Having a business and being in school can be very distracting. It pulse your focus away from your school work. To me school work is more important than running a business because in the long run that education is going to give you the knowledge in running that business better and earning you more money more efficiently. But some people are determined to do both. If you have the motivation and the skill to balance both I would say go for it.