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Q1:Identify and briefly explain the soft or people-related issues that important for setting up and running your own business (from a stat-up business perspective). Q2:How good entrepreneurs manage time effectively - Essay Example

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An individual would need to make investment in form of time and capital. There are also challenges associated with lack of adequate knowledge on business procedures, lack of adequate skills on innovation, identification of…
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Q1:Identify and briefly explain the soft or people-related issues that important for setting up and running your own business (from a stat-up business perspective). Q2:How good entrepreneurs manage time effectively
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Extract of sample "Q1:Identify and briefly explain the soft or people-related issues that important for setting up and running your own business (from a stat-up business perspective). Q2:How good entrepreneurs manage time effectively"

Download file to see previous pages This is due to increased efforts by governments as they strive to promote business ventures started by individuals. Governments across the world are often faced with challenges associated with increased population levels. This massive increase in the number of people has resulted in fewer employment avenues (Lall & Sahai, 2008). To be able to create a source of livelihood for all these people. Governments have taken to providing capital and technical support to business to aid growth. The main challenge currently facing the start up business ventures is thus problems associated with the individual business person. To achieve success in a business venture prospective business man should dedicate much of time and resources towards the business. This should be done especially at the early stages of the life of the business (Forbat, 2007).The entrepreneur should also posses the right level of attitude towards the business. Attitude will cause and individual to set the right kind of goals. These goals once set will be a source of constant motivation to the entrepreneur to work consistently to achieve the set goals. The entrepreneur should also take much of time from other personal engagements to give the business time to grow and develop (Badi & Badi, 2005).This would essentially mean that other commitments like relationships and social interactions are given less time. These sorts of sacrifices are what an entrepreneur whose main objective is to be able to grow a successful business should be able to take. There exist three very important issues that specifically involve an individual and the ability to work within these characteristics is the most important factor that can cause success of a business venture. The main motivation behind establishing a business is to be able be able effectively exploit and combine various factors that influence production activities to attain success (Forbat, 2007). To do this one requires to be a ...Download file to see next pagesRead More
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