Lee High School

How does a person start and sustain a business?

Business Owner

Miguel Lemus

Senior Capstone

Jody Snyder

April 13, 2017

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Miguel Lemus

Jody Snyder

Senior Capstone

April 13, 2017

Starting A Business

Many people all across the country and the world are employees and have to answer to

someone. On average, across countries, almost 4% of people are self-identified entrepreneurs

with paid personnel (2.2% of women; 5.6% of men) (Reid). Be the person to increase that 4%

average, whether it's on the female or male side, do not be the typical everyday employee. Four

percent is pretty low compared to that of regular people in the workforce, which most people

probably are in. Considering quitting that job that pays minimum wage and being a boss? When

being ones own boss, it comes with privileges like setting schedules, and entrepreneurs can do

what they love and enjoy and get paid for it, with the potential to make a high salary. An

entrepreneur starts and sustains a business by understanding the financial needs and

demands, knowing how to use social media to his/her advantage, having knowledge and

experience in the business industry, and realizing the impact of customer service.

An entrepreneur starts and sustains a business by understanding the financial needs and

demands. "A significant obstacle to successful growth and development of small business has

been access to finance under appropriate terms and conditions" (Connell). When it comes to

starting a business, an obstacle will be money. Money will be a first step to becoming successful
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as an entrepreneur. For example, an entrepreneur starting a lawn care business will need money

to buy his or her equipment. The basic lawn care business requires a truck, lawn mower, weed

whacker, and a blower. If he/she has no money, what do they do? Most businesses that are still

up and running today started from the bottom; they all had to save up, get a loan from a bank,

maybe even borrow money from family. When thinking about what type of business to start,

make sure it will be in demand. Here is one example, a roofing company, why is that in demand?

Roofing is needed by someone somewhere always, so there will always be work. Choosing their

future business wisely is important, otherwise it can be bad for business startups. Therefore, an

entrepreneur starts and sustains a business by understanding the financial needs and demands

associated.

An entrepreneur starts and sustains a business by knowing how to use social media to

their advantage. The reason social media advertising is gaining traction is because of its

massive audience- (Focus - Five Steps). Internet or social media can make your business be

viewed by a larger scale of people. For example, when a business has their own website people

can already see details about your business and can spread the word. Instead of calling getting

info, getting jobs done then people spread the word. Website can influence more people and at a

faster rate. That shows an entrepreneur starts and sustains a business by knowing how to use

social media to their advantage.

An entrepreneur starts and sustains a business by having knowledge and experience in the

business industry. An entire 221, 62%, of the 355 business owners interviewed referred to their

industry/business. knowledge and experience as a key preparatory step toward the success of

their business start-ups (Bewayo). This article is just saying 221 out of 355 business owners
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say that knowledge and experience are very important first steps entrepreneurs make towards

starting their business. People who have experience in the business they want to own have a

better chance of sustaining it. For example, someone who does lawn care for a company knows

how to do the work and with a little research on how to get clients, he or she could go on his or

her own and be able to do it. Knowledge and experience are important to have because if an

entrepreneur has neither, he or she will be clueless and will not have a successful start. How do

does a future business owner gain experience? If thinking of having their own restaurant, they

can work as a server/waiter and learn how things work inside a restaurant. Once they know how

to satisfy a customer and keep him or her coming back, and maybe pick the brain of the boss of

his or her start-up, they could have enough experience and knowledge to be a boss of a

restaurant. Therefore, an entrepreneur starts and sustains a business by having knowledge and

experience in the business industry.

An entrepreneur starts and sustains a business by realizing the impact of customer

service. We interpreters want to help visitors make connections that will last a lifetime

(Leftridge). This statement from this article is saying that for entrepreneurs to keep a customer,

they have to make connections. This is very true because, for example, when a person goes to a

local mechanic, the mechanic wants to gain the trust from the car owners and once he builds that

trust, that person keeps bringing that car back to the mechanic. Another example is the lawn care

business owner; he wants to show that he can take care and care for lawn. Once he does a good

job and maybe makes other good connections, he will always be scheduled to come back to

service his customers property. Another good example is a barber who is always trying to gain a

customer so he or she will do a good job and make conversation to get to know the client. Once
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the client sees that the barber is talented and can communicate, client will always come back to

that barber. Therefore, an entrepreneur starts and sustains a business by realizing the impact of

customer service.

There is no age limit; the young entrepreneurs have to be "young at heart" and willing to

go abroad (Erasmus). No matter what age the young entrepreneur is, they should never give up.

They should set goals and always follow through on them, which will lead to success. It is

important for entrepreneurs to practice what it is he/she wants and start doing it for some income.

Mistakes are only bad if a future business owner does not learn from them. The three things an

entrepreneur needs for their future business are simple. An entrepreneur must start and sustain a

business by understanding the financial needs and demands, by having knowledge and

experience in the business industry, and by realizing the impact of customer service.
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Works Cited

Bewayo, Edward D. "Pre-start-up preparations: why the business plan isn't always written."

Entrepreneurial Executive, vol. 15, 2010, p. 9+. Academic OneFile,

go.galegroup.com/ps/i.do?p=AONE&sw=w&u=lom_accessmich&v=2.1&it=r&id=GALE%7CA

243043179&asid=1fbe6737419a35e3f2a7f65d3cfb3730. Accessed 28 Mar. 2017.

Connell, Jenet. "Small business finance." Small Enterprise Research, vol. 2, no. 1-2, 1993, p. 28+.

Academic OneFile,

go.galegroup.com/ps/i.do?p=AONE&sw=w&u=lom_accessmich&v=2.1&it=r&id=GALE%7

CA268599949&asid=17003226b853b0901f3ae4d27607ae05. Accessed 29 Mar. 2017.

"ERASMUS FOR YOUNG ENTREPRENEURS." European Social Policy, 2009, p. 245283.

Academic OneFile,

go.galegroup.com/ps/i.do?p=AONE&sw=w&u=lom_accessmich&v=2.1&it=r&id=GALE%7CA

195659769&asid=320cce04f2b18fcdaa30ce0c17a44786. Accessed 13 Apr. 2017.

"Focus - Five Steps for Success in Social Media Advertising." just-drinks.com, 10 Oct. 2014.

Academic OneFile,

go.galegroup.com/ps/i.do?p=AONE&sw=w&u=lom_accessmich&v=2.1&it=r&id=GALE%7CA

464085365&asid=003fcedd5e727cd379cf5644efd9144f. Accessed 19 Apr. 2017.

Leftridge, Alan. "Connections." Legacy Magazine, vol. 20, no. 4, 2009, p. 24+. Academic OneFile,

go.galegroup.com/ps/i.do?p=AONE&sw=w&u=lom_accessmich&v=2.1&it=r&id=GALE%7CA

205747247&asid=a31a623995a091a19a8d0c41fe4f6fa2. Accessed 4 Apr. 2017

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Reid, Susan. "The Numbers Are In: Most People Want To Be Their Own Boss."Forbes. Forbes

Magazine, 08 Jan. 2016. Web. 03 Apr. 2017,

https://www.forbes.com/sites/susanreid/2015/10/12/the-numbers-are-in-most-people-want-to-b

e-their-own-boss/#6d9ffafa1451
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