9/2/15

 

My definition of being an entrepreneur is having the innovation, ambition and courage to start your own business from the ground up, not always having a back-up plan. Entrepreneurs give everything to have their business succeed and have creative new ideas to set them apart from other similar businesses. Before reading the first chapter of the textbook I have always thought that to be an entrepreneur you have to have different types of businesses. From my point of view a small business owner is different because they can own a business without being creative, for example a franchise owner. A small business owner would have to have some characteristics of an entrepreneur because there are always risks but there does not have to be innovation.

When I started with my first daycare I expected and continue to expect to always be in control. Maybe because I like to interact with children and am committed to their safety and happiness, nevertheless, I would like to open a bigger center in which I am willing to share control to make more money as long as I am still able to oversee the wellbeing of the children. If that task is taken away I would lose the personal connection with my business and it will become just another paycheck.

Some growth issues entrepreneurs face are staying small because they do not want to lose control, or expose the business to many investors which become stockholders. In my opinion an entrepreneur should have a passion business and venture on to open other businesses that can build their wealth.