Expertise.docx

Valdez, Jomar G.

Entrepreneurship

12-Marx

EXPERTISE IN STARTING A BUSINESS Starting new business is a learning-oriented process. However, it is not easy as we think. There must be an acquired skill or knowledge. Businesses start as small until it reaches reaping extraordinary profits. In starting a business, I would like to maintain the equilibrium as well as the progress of the whole process. I will motivate and orient myself to be more determined and confident. Also, I will maintain being optimistic or rather become pro-active so that I could foresee and magnify what should I improve or develop in my business. Worrying about the risks of business is normal but we need to be brave and tempered in facing it. Absorbing criticisms and suggestions is very significant. It is part of the learningprocess of the business. The environment is the key answer for innovations. Coping with failures and learning from mistakes refer to a smart entrepreneur. One of the most important ingredients in a successful business idea is passion. Passion will consistently drive you to improve your process so your business grows. That said, don’t let passion take over all your decisions. Passion will move you forward, but knowledge will point you in the right direction. (Kappel, 2017, Forbes)

FORM OF OWNERSHIP SOLE PROPRIETORSHIP If I will start a new business, I want to begin with a simple-owned proprietorship. I would like to be a boss in my own sole business. I would like to gain profit without any partitions to other co-entrepreneurs. It will reduce some complications and also avoids losses to profit in case of certain fluctuations of the business. My employees will work on me, yet there is no official partnership or sharing of profits unless I pay their salaries.

Given that my business is LONGGANISA, these are my possible employees. A simple employment for a simple business.