Donald Jirkovsky

Donald Jirkovsky

In today’s society, there are many buzzwords floating around. One of those buzzwords is “entrepreneurship.”

There is a mindset by many that it is so easy to start and operate your own business, and you can get rich quick.

These are false perceptions because owning a business is a lot of hard work, and it takes sweat equity to make a business successful.

Many believe that all it takes to be a successful entrepreneur is having a great idea. A great idea is a good first step, but then the entrepreneur must develop a business plan that helps them identify startup and operational cost, determine if there is a need for the product or service, identify the target market, develop a cost structure and identify the competitive advantage.

A business plan allows the entrepreneur to take the thoughts and ideas out of their head and put them on paper to see if starting the business is feasible.

Another popular misconception is that the entrepreneur is their own boss and can set their own hours.

In reality, the boss of a successful business is often the customer. The customer has expectations that must be fulfilled in order for a business to charge a certain price to make a profit.

The customer often dictates the hours of operation because the business must be open at the times that are suitable for the customers to buy the product or service.

Another popular misconception is that the entrepreneur will have more personal freedom, take more vacations and make their own schedule. I once read a sign in a restaurant that stated, “I didn’t realize that there were 25 hours in a day until I started my own business!”

The most popular misconception is that the entrepreneur will get rich quick.

If you see a successful, rich entrepreneur, be sure to ask them how they did it. More than likely they will tell you it took a lots of time, hard work, perseverance, sacrifices and financial discipline to get rich. It doesn’t happen overnight.

Being an entrepreneur and owning your own business can be a very rewarding and fulfilling adventure, but it takes a lot for the business to be successful.

For solutions to these and other challenges in becoming an entrepreneur and owning your own business, please contact a business adviser at the University of Houston-Victoria Small Business Development Center (UHV-SBDC) to attend the First Steps to Starting Your Business class and for free business advising.

Donald Jirkovsky is a Certified Business Adviser with the UHV-SBDC. UHV-SBDC is part of a nationwide small business assistance program serving the small business community. The center offers counseling, training and technical assistance to existing and startup businesses in an 11-county area. To make an appointment for business services or register for a UHV SBDC workshop, call the center at 361-485-4485 or email sbdc@uhv.edu.

You must be logged in to react.
Click any reaction to login.
0
0
0
0
0

Recommended for you

(0) comments

Welcome to the discussion.

Transparency. Your full name is required.
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article. And receive photos, videos of what you see.
Don’t be a troll. Don’t be a troll. Don’t post inflammatory or off-topic messages, or personal attacks.

Thank you for Reading!

Please log in, or sign up for a new account and purchase a subscription to read or post comments.

To subscribe, click here. Already a subscriber? Click here.