Prosperity and happiness would be easy to achieve if we could make correct decisions all day long. Imagine how efficient we would become if we never succumbed to seductive lies. How far could we go if we never got distracted by irrelevancies? How much would we profit if we never wasted time chasing what cannot be accomplished?
An exalted view of permanence and safety can be a constant source of erroneous choices. Human beings seem to suffer from a persistent cognitive distortion that makes them favour all things that are tall, wide, and long. If you think about it, you will find few exceptions to this misconception.
Everything does not depend upon the whim of an entrepreneur. There are some economic and non-economic factors that influences the size of a business entrepreneurship. They are as follows :-
1. Demand for the product : There are some products whoes demand is more and it keeps on increasing. Such products need wide market. Therefore, the size of the business should be large. E.g. iron and steel industries. On the other hand, if demand for a product is less, they can only be sold in the local markets, the size of the business should be small. E.g. Handloom and crafts industries.
The growing trend in America is to create a business. Cottage industries are popping up everywhere. From franchise retailers to launching a new business Americans are center stage. Startups include service business, home business, coaching business, and craft business. It is part of the American way but it is also a constant reminder that across the country this is the only way to maximize your potential.
The corporate market place has lost some of its luster. For many years it was considered an attribute to work for a conventional business. It was a way to learn a skill and perhaps find some sort of economic security. The evolution of big business has changed the idea of being a part of a company to one of just being an employee that is expendable.
Inflation with rising interest rates could put a damper on job availability. One of the things that it will impact is wages. With the reluctance of employers to foot the whole health care costs of their employee, job benefits are not that enticing. The payoff of owning your own business is that the entrepreneur takes the starring role. The limits in opportunity in the business world are due to many factors that the employees have no control over.
Many people are opting to work from home. Home based businesses are on the rise. Small Mom and Pop business are expanding thanks to the World Wide Web. This current trend is good for everyone. Entrepreneurs contribute to the success of this country. Out of ambition or need, more than a million boomers every year are starting there own business. In the United States people 55 to 64 years old are the most likely to start here own business.
The Ewing Marion Kauffman Foundation in Kansas City, Missouri, a research and education center for entrepreneurs found in a single month in 2005 nearly 110,000 folks in the age range of 55 to 64 started a business. Older entrepreneurs have a huge advantage in wisdom and experience. The entrepreneur wants job freedom more than job security. They thrive on the adventure of relying on their ingenuity.
Another group of aspiring entrepreneurs are the millennial generation or the Generation Y. Many do it because they desire a better work-life balance. They are the leading edge of a trend toward entrepreneurship that is due in a large part to technology. The new view is work is a part of life but you do not live to work. When they start their own business they work long hours and harder than they planed. The operating forces for these entrepreneurs are the purposeful work, flexible hours and a chance for financial freedom.
A Pew Research Center poll of 2,003 Americans ages 18 and over pointed to the fact they were more satisfied with their flexible hours, proximity of work and home, job security, level of on-the-job stress and salary than other workers. Entrepreneurship is one of the most exciting ways to reach for the gold ring. This generation has seen the corporate culture loyalty to their employees. They realize that the corporate world is not going to look out for them. The entrepreneur spirit is alive and well in America and is expected to grow in the coming years.
The daily tedium, stress and uncertainty of being an entrepreneur is a malady most of us are familiar with. For entrepreneurs generally, the most common mantra might be a variation on the theme, "Just let me get the business on an even keel, and then I will get the rest and enjoyment my labors deserve."
Against this backdrop, the subject of this article might sound absurd, but if you want to truly stand out from the crowd, accomplish all of your financial objectives and realize your dreams, the best approach may be serial entrepreneurship.