Introduction
Hello and welcome to my guide on how to start and run a small business. This guide is intended for use as a short reference and is not in any way exhaustive. There are many factors affecting how you start and run your own business but I hope you will find this book a handy guide to some of the basic principles.
For some, starting a business can be daunting and for others, it's a case of; they can't wait to get started. Either way, it is always good to remember that there is lots of help and advice out there and not only can that advice prove invaluable, it doesn't have to cost the earth. Treat all forms of advice as an invaluable investment into your business.
I believe, that anyone looking at running their own business is an Entrepreneur because Entrepreneurs take resources and make things happen. That is exactly what you are doing by running your own business.
Remember though, it's not just about having an idea. It's about implementing it. I have seen people with great ideas fail, and conversely I have seen others with what appears a poor idea, become a success.
Drive and ambition are key ingredients in Entrepreneurship but that said, it's always good to listen to others. If there really isn't a demand for your idea, there is no point in flogging a dead horse just because you want to prove others wrong.
Entrepreneurs are more innovative, leading to new products and services being created, which in turn leads to lower unemployment and an enhancement of lifestyles. So what makes a good entrepreneur?
It is generally recognised that the Attributes or Traits of an Entrepreneur are fundamentally:
• Ambition (the need to succeed),
• Creativity (always innovative),
• Tenacity (often stubborn),
• Risk Tolerant (being bold),
• Intuition (spontaneous) and
• Personality (the life and soul).
To understand the background to entrepreneurship, lets look a little at where it all started:
The first recorded entrepreneurs were in medieval days (the church, merchants and members of the royal court), who introduced new goods with new quality and value.
Then, people came off the land and into industry with the development of the Cotton Mills and the Industrial Revolution. From this came the Flying Shuttle, Spinning Jenny, Water Frame and Crompton's 'Mule'.
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