Different ways of entrepreneurship

Entrepreneurship is great way to express yourself. You can decide what kind of company you will start and also you can decide how much time you will spend working on it. Successful entrepreneurship is made of two different things, and they are passion and skills. When you combine these two your company is most likely going to succeed. Expectations about entrepreneurship and what it means to you can be divided to different areas. For example, are you starting a company as a hobby, is it way for you to have an affect to the society, are you looking for grow, is it way for you to do work, are you building a career from it or is it way for you to get rich and have more wealth. There is lot of different starting points to entrepreneurship, but most important thing is to start your business. You don’t have to think too much about what the core purpose is, and, in a fact, you can change on the way. So, make sure you get on the road and stop thinking about it too much. (Leppänen 2013)

Good thing to know if you seek about getting rich from entrepreneurship is that you won’t get rich right away. You need to put in the work and build your legacy. Normal work can be choice for you if you want to improve your savings. Entrepreneurship besides your normal job can work too and then we are talking about running the company as a hobby. Here the company runs by its own weight, and you don’t have to force it since you have other sources of income as well. From Finland’s companies 83% are small companies which has only up to four employees. They are not seeking for large scale growth and most of them are happy where they currently are. Many Finnish entrepreneurs are freelancers, and their goal is not to make big companies. Most freelancers are happy when they get paid enough and things works out for them. From all the Finnish companies, 5% are seeking for growth. They are expanding their field and testing the limits on a regular basis. (Leppänen 2013)

When we are talking about entrepreneurship, it’s easy to think that you need to always come up with new business ideas, but that’s not necessarily the case. There is plenty of different ways to became entrepreneur, firstly you can have a partnership in already running company, you can have a team company with shared responsibility, you can join or buy already existing company, you can do franchise, you can do part-time entrepreneurship, you can be freelancer on the field you are interested in, you can sell your skills or services through cooperative, you can express yourself in form of projects in a another company or association and you also can continue your family company after your parents retire. There are so much different possibilities in entrepreneurship and there you can find what suits you. (Leppänen 2013)

Starting as an entrepreneur is good to remember have people close to you helping with it or a partner with you. When you choose to have multiple people in your company the risks and responsibilities are being shared, skills of different people can shine and people can focus on their strongpoints, creating networks and connections with clients is also quicker, you can share successes and failures together, coming up with new ideas and learning on the way is more efficient. After going through the benefits of having other people in your company, it doesn’t sound too bad, doesn’t it? But we must be sure we start business with right people in order to succeed. When hiring people or starting a company together, its good to go through where everyone are good at. Some people can bring new ideas to table and some people are good at bringing them to action. Some people are more listeners, and they see the bigger picture really well where some people work really efficiently with a tunnel vision. Three major red flags with possible business partners are the fact that conversation doesn’t flow, you are too good friends with the partners, or it’s too fun to do business together. It’s crucial to be able to have all kinds of conversations with your partners in order to have a successful company. Close person as a business is not the best idea because differencing free- and worktime can get difficult and also saying no can be difficult too. Its quite easy to find like minded people so make sure you have at least some differences because then you have more potential to tackle different kinds of obstacles as business partners and it’s also good to have someone there to challenge you. (Leppänen 2013)

Sources:

Leppänen, O. 2013. Liiketoimintasuunnitelma roskakoriin! Ollis Leppänen ja kustannusosakeyhtiö Tammi.