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My Ambition to Be an Entrepreneur

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Published: Sep 1, 2023

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So You Want to Be an Entrepreneur?

Emily Heyward

One founder’s advice on what you should know before you quit your day job.

Starting a business is not easy, and scaling it is even harder. You may think you’re sitting on a completely original idea, but chances are the same cultural forces that led you to your business plan are also influencing someone else. That doesn’t mean you should give up, or that you should rush to market before you’re ready. It’s not about who’s first, it’s about who does it best, and best these days is the business that delivers the most value to the consumer. Consumers have more power and choice than ever before, and they’re going to choose and stick with the companies who are clearly on their side. How will you make their lives easier, more pleasant, more meaningful? How will you go out of your way for them at every turn? When considering your competitive advantage, start with the needs of the people you’re ultimately there to serve. If you have a genuine connection to your idea, and you’re solving a real problem in a way that adds more value to people’s lives, you’re well on your way.

When I graduated from college in 2001, I didn’t have a single friend whose plan was to start his or her own business. Med school, law school, finance, consulting: these were the coveted jobs, the clear paths laid out before us. I took a job in advertising, which was seen as much more rebellious than the reality. I worked in advertising for a few years, and learned an incredible amount about how brands get built and communicated. But I grew restless and bored, tasked with coming up with new campaigns for old and broken products that lacked relevance, unable to influence the products themselves. During that time, I was lucky to have an amazing boss who explained a simple principle that fundamentally altered my path. What she told me was that stress is not about how much you have on your plate; it’s about how much control you have over the outcomes. Suddenly I realized why every Sunday night I was overcome with a feeling of dread. It wasn’t because I had too much going on at work. It was because I had too little power to effect change.

EH Emily Heyward is the author of Obsessed: Building a Brand People Love from Day One (Portfolio; June 9, 2020). She is the co-founder and chief brand officer at Red Antler, a full-service brand company based in Brooklyn. Emily was named among the Most Important Entrepreneurs of the Decade by Inc. magazine, and has also been recognized as a Top Female Founder by Inc. and one of Entrepreneur’s Most Powerful Women of 2019.

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Essay on Why Do I Want To Be An Entrepreneur

Students are often asked to write an essay on Why Do I Want To Be An Entrepreneur in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Why Do I Want To Be An Entrepreneur

Introduction.

I want to be an entrepreneur because it gives me the freedom to express my ideas. It’s like being a painter, but instead of a canvas, I use business strategies to create my masterpiece.

Independence

Being an entrepreneur means I am my own boss. I can make decisions and set my own rules. This freedom allows me to shape my business in a way that matches my vision and values.

Entrepreneurship allows me to be creative. I can come up with new ideas for products or services and bring them to life. This is exciting and fulfilling, like solving a puzzle.

I want to make a difference in the world. As an entrepreneur, I can create jobs, solve problems, and contribute to the economy. This gives me a sense of purpose and accomplishment.

In conclusion, I want to be an entrepreneur because it allows me to be independent, creative, impactful, and constantly learning. It’s a challenging but rewarding path that I am excited to embark on.

250 Words Essay on Why Do I Want To Be An Entrepreneur

Passion for creativity.

Being an entrepreneur means creating something new and unique. I want to be an entrepreneur because I love the idea of turning a simple thought into a successful business. It’s like painting on a blank canvas, where the colors are my ideas and the brush is my hard work.

Freedom and Control

As an entrepreneur, I get to be my own boss. This means I can make my own decisions, set my own goals, and work at my own pace. This freedom and control are very appealing to me. It’s like being the captain of my own ship, steering it in the direction I want.

Opportunity to Learn

Every day as an entrepreneur brings new challenges and opportunities to learn. From managing finances to understanding customer needs, every task is a learning experience. This constant learning and growth is something I look forward to as an entrepreneur.

Making a Difference

Entrepreneurs can make a positive impact in people’s lives through their products or services. I want to be an entrepreneur because I want to make a difference. I want to create something that can bring a smile to someone’s face or make their life a little easier.

Financial Independence

In conclusion, becoming an entrepreneur is about much more than just making money. It’s about passion, freedom, learning, making a difference, and financial independence. These are the reasons why I want to be an entrepreneur.

500 Words Essay on Why Do I Want To Be An Entrepreneur

Being an entrepreneur means starting your own business and taking on financial risks in the hope of profit. It’s a path that requires courage, creativity, and a strong desire to succeed. I want to be an entrepreneur for several reasons.

Opportunity to Innovate

Being an entrepreneur gives me the chance to bring new ideas to life. I can find creative ways to solve problems and make people’s lives better. This is exciting because it means I can make a real difference in the world. I can create products or services that people need and want, and that can change the way we live and work.

Personal Growth

Running a business is a great way to learn and grow as a person. I’ll face many challenges and obstacles, but overcoming them will make me stronger and smarter. I’ll learn about different aspects of a business, like marketing, finance, and management. I’ll also learn about myself – my strengths, my weaknesses, and my ability to handle stress and uncertainty.

Leaving a Legacy

Finally, I want to be an entrepreneur because it gives me the chance to leave a legacy. My business could be something that lasts long after I’m gone, benefiting future generations. It could also inspire others to pursue their own entrepreneurial dreams.

In conclusion, being an entrepreneur is about more than just making money. It’s about having the freedom to pursue your passions, the opportunity to innovate, the chance to grow as a person, and the possibility of leaving a lasting legacy. It’s a challenging path, but one that can be incredibly rewarding. And that’s why I want to be an entrepreneur.

That’s it! I hope the essay helped you.

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Concept of an Entrepreneur in Business Essay

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Introduction

Reference list.

This essay talks about an entrepreneur. It seeks to define who an entrepreneur is, how one becomes an entrepreneur; whether he is born an entrepreneur already or whether he acquires the skills of entrepreneurship in life. It will therefore, examine various aspects that are likely to influence one into entrepreneurship.

It will analyze character traits inherent in an entrepreneur. These include an individual’s level of innovation and creativity, his ability to recognize and take up opportunities and the amount of risk one is willing to get into when starting a business.

It will focus on the effect of family and upbringing upon one in becoming an entrepreneur, the effect of culture and various policies by different governments and their impact upon an individual. At the end of the discussion, it will be established that an entrepreneur is both born and nurtured. One’s environment plays a critical role in shaping one’s ideas and character into becoming an entrepreneur.

An Entrepreneur

This is a person who ventures into a business despite the risks inherent. He plans, starts, and runs the business growing it to maturity. Unlike a business man who runs a business and becomes part of a larger business community, an entrepreneur takes the risk to star up a new venture, which he expands and grows to a full business empire which he is master.

What Makes an Entrepreneur

Two propositions have been put forward to explain an entrepreneur. One is that he is born and not made and the other is that he is nurtured and not born. Those who argue than an entrepreneur is born posit that some people are born with certain innate characteristics necessary for entrepreneurship.

These individuals are more likely to take risks, identify and take up business opportunities and are more welcoming and ready to explore new experiences that seem promising to their businesses.

Some, like Shane (2010), argue that entrepreneurs are made. They further state that anyone has the capability of making an entrepreneur. All one needs is a passion, determination and good mentorship to become a good entrepreneur. The difference is that these people need to work harder than those born with characteristics of entrepreneurship.

To some extent, learning and adapting these skills by nurture is of benefits as an individual learns them from professionals who will guide him on how much of the skills are beneficial, and to what extent do the skills become harmful. This is unlike one who is born with the skills and does not know how to regulate them to attain balance between enough and too much.

For instance, an individual born with the traits of risk taking might overindulge to take risks even when failure is inevitable. One who learns the art of risk taking will be cautioned that some risks are not worth taking. It has been established that many entrepreneurs fail to succeed because they are too confident and reliant on their innate skills than those that they learn (Mount, 2009).

A survey from a business training program at the University of Southern California found out that people who got such skills through formal training and coaching were more likely to succeed than those who did not get such training at all.

Students learnt to sell items they were not even familiar with or which their cultures and religion prohibited them from associating with. Another study in Peru of women banking entrepreneurs showed that women who attended business training lessons increased their sales by 16% than those who did not.

Entrepreneurship requires persistence, optimism and hope that things will be well, coupled with hard work to attain one’s goals. These traits can be learnt and acquired by anyone who wishes to acquire them.

Scientific Proof

Scientific studies have been done on this topic to determine whether entrepreneurs are born or made. Scott Shane, a professor of entrepreneurial studies at Case Western Reserve University, co-directed a study that observed entrepreneurial activities of identical twins who share 100% of their genes.

The study concluded that 40% of entrepreneurial skills were inherited, while the other 60% was acquired through interaction with the environment.

Exposure to an entrepreneurship environment has tremendous effects on influencing persons, who would otherwise not venture into entrepreneurship. This is according to a study at Munich’s Ludwig Maximilians University which found out that such exposure had influence on 18% of students who had never dreamt of becoming entrepreneurs (Klein, 2010).

The two aspects of nature and nurture exist in interplay at making entrepreneurs. In spite of the lessons and exposure, one has to have the right attitude and confidence needed by an entrepreneur to make one.

On the other hand, one might possess the right attitude and traits necessary for entrepreneurship, but not have the right knowledge on how to handle contemporary challenges in the business world. The skills might end up being wasted.

Traits of an Entrepreneur

As an entrepreneur, one must be able to think of ways, and in some cases alternative ways, to get things done. One needs creativity and an innovative mind that thinks fast how possible to carry out plan or achieve some goal.

Opportunity Recognition

An entrepreneur must able to recognize opportunities and take advantage of them to improve his business. A number of entrepreneurs have confessed to having strong intuition. They are able to predict trends and ‘feel’ that some venture is worthy or risky taking. They should be keen in analyzing market trends and whenever they spot an opportunity, they should take it up immediately.

Risk Taking

An entrepreneur is a risk taker from the onset of his start-up of a business. He goes out to venture into the unknown with possibility of success or failure.

Even when a business suffers setbacks, as it sometimes will, an entrepreneur should push on, and not pack up and leave. He is required to take up opportunities whenever he spots them. This is a risk as he is not certain whether they will pay of well, but he takes them up any way (Deakins & Freel, 2006).

An entrepreneur should be ready to live without a paycheck. This means that the venture has some ambiguities about the amount he will be taking home. It can be none or a lot. This is a risk he must embrace and be ready to work through. It is for this reason that many people prefer to take up jobs instead of entrepreneurship to guarantee their pay on a regular basis.

The Effect of Family, Upbringing and Environment on an Entrepreneur

Many entrepreneurs are made as a result of encouragement from their parents and family members. Up to 70% of them went through some ‘event’ during their childhood that shaped their desire to become entrepreneurs. This event could be bereavement of a significant family member that exposed the child to some sort of financial struggle (Gubrium & Holstein, 1993).

While the above case is true to a number of entrepreneurs, some do not have to go through any hardships. These are born into families where significant members of the family are entrepreneurs and influence them into the area.

They could start running established family businesses and then later develop entrepreneurship ideas that will expand the business or venture on their own. In such cases, these persons receive full support of the family by encouragement and financial support to attend college and receive necessary sills.

In some cases, the family may be passive to entrepreneurship activities but the individual has passion for certain business ideas. He may not receive support from his family, but the family may not also oppose his ideas. In such a case, the individual has to go out on his own to a large extent to start up the business.

Sometimes family may inhibit one from becoming an entrepreneur if they have witnessed bad experiences from such a venture. A real entrepreneur understands that entrepreneurship is about risks and will not back down from pursuing his ambition.

According to Aldrich (2003), the way one is also brought up can influence his desire to become an entrepreneur. If skills such as saving, budgeting, and raising money earning money are imparted on him from a tender age rather than being given freely, one can grow up knowing that they have to earn money and that every case is an opportunity to earn.

The opposite is also true. For a child who is not encouraged to earn money through various ways, but relies on parents and guardians for support, they may not know the importance of earning their own money. The child will grow up relying on others and is likely to seek employment more than start up a business.

Lastly, the environment is critical in shaping one’s entrepreneurial skills and ambition. If one grows up in a family or community with a substantial number of entrepreneurs, he interacts with them more than with other people. These interactions are likely to shape his desire of becoming one too.

Poverty is another environmental aspect that can turn one into an entrepreneur despite his real ambition. The child, due to lack of financial ability to see him through to college, may be forced to start up small business to meet his needs.

It is evident that many people in the rural areas become entrepreneurs than those in urban areas. It is not that they are born entrepreneurs than those in the urban areas; it is because they lack sufficient means to seek higher education and get jobs.

The Effect of Government Policies

Many entrepreneurs own small businesses. Therefore, they suffer the greatest impact of governmental policies than large firms.

For instance, small businesses have been found to pay more for health policy for their workers than large businesses do. Such costs become overwhelming to an entrepreneur who, at the start up of a business, struggles to balance between branding the business and building a strong customer base.

Governments enact and control policies that touch on entrepreneurship in a great deal and if these policies are not well regulated, they adversely affect small businesses.

Inflation, for instance, is determined by interest rates set by the Federal Reserve, policies on cost of labor are controlled and regulated by the federal sector, business regulations and procedures such as licensing, certification, and permits are done by governments. These have not been favorable to entrepreneurs as they are designed in ways that benefit large businesses through economies of scale.

Governments have, however, be credited for trying to protect entrepreneurs from unfair competition from large businesses. One such policy used to protect the business is rewarding them a set percentage of government contracts.

Starting and Growing a Business

Starting up a business is a detailed task that requires an entrepreneur to lay down a concrete plan that will see him through the business. The entrepreneur then takes baby steps to grow the business to maturity. Such a process needs persistent and focus because of the many hurdles likely to be incurred.

The process of growing a business requires much similar tactics as those of starting up a business. The entrepreneur will still have to take steps at a time, although this time they may not be baby steps as he has some experiences and will have conquered the initial hurdles.

He is more familiar with the tactics involved and more confident of his actions and the direction of the business. However, he still needs to be persistent and hardworking (Kellermanns & Eddleston, 2006).

It is normal that when starting up a business, an entrepreneur will employ someone or a few people to assist him. As the business grows, it is necessary that he quits being the manager and employ a management team that will be responsible for managing the business fully.

This is recommendable for a business to avoid the owner’s subjectivity while handling issues. This should not lead to a conflict of interest between the entrepreneur and the management team as the team is directly under the entrepreneur even if they control the day to day running of the business.

An entrepreneur is a risk taker, who goes out of his way to put some business idea into practice. Anyone can become an entrepreneur with the right training. With sheer determination, he can become a successful entrepreneur.

One needs to be innovative and have a creative mind that seeks ways of solving issues, be able to recognize and embrace opportunities is they present themselves, and be willing to take risk as long as it is reasonable promising.

Aldrich, H., 2003. The Pervasive Effects of Family on Entrepreneurship: Toward a Family Embeddedness Perspective. Journal of Business Venturing , Vol. 18 (5): 573-596.

Deakins, D., & Freel, M., 2006. Entrepreneurship and Small Firms . McGraw-Hill Education: Berkshire.

Gubrium, J., & Holstein, J., 1993. Family Discourse, Organizational Embeddedness, and Local Enactment. Journal of Family Issues , Vol. 6(3): 321-345.

Kellermanns, F., & Eddleston, K., 2006. Entrepreneurship: Theory and Practice. Journal of business venturing , Vol. 7(4): 23-26.

Klein, K., 2010. Are Entrepreneurs Born or Made? Small Business , Vol.3 (1):23-26.

Mount, I., 2009. Scientists and Academics Battle out the Nature Vs Nurture Debate. Small Business , Vol. 5(2):18-34.

Shane, S., 2010. Born Entrepreneurs, Born Leaders: How Your Genes Affect Your Work Life. Oxford: Oxford University Press.

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50 MBA Essays That Got Applicants Admitted To Harvard & Stanford

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What Matters? and What More? is a collection of 50 application essays written by successful MBA candidates to Harvard Business School and Stanford Graduate School of Business

I sat alone one Saturday night in a boardroom in Eastern Oregon, miles from home, my laptop lighting the room. I was painstakingly reviewing a complex spreadsheet of household energy consumption data, cell by cell. ‘Why am I doing this to myself? For remote transmission lines?’…I felt dejected. I’d felt that way before, during my summer at JP Morgan, standing alone in the printing room at 3 a.m., binding decks for a paper mill merger that wouldn’t affect my life in the least.

That’s how an analyst at an MBB firm started his MBA application essay to Stanford Graduate School of Business. His point: In a well-crafted essay, he confronts the challenge of finding meaning in his work and a place where he can make a meaningful difference. That is what really matters most to him, and his answer to Stanford’s iconic MBA application essay helped get him defy the formidable odds of acceptance and gain an admit to the school.

Getting into the prestigious MBA programs at either Stanford Graduate School of Business or Harvard Business School are among the most difficult journeys any young professional can make.

NEARLY 17,000 CANDIDATES APPLIED TO HARVARD & STANFORD LAST YEAR. 1,500 GOT IN

This collection of 50 successful HBS and GSB essays, with smart commentary, can be downloaded for $60

They are two of the most selective schools, routinely rejecting nine or more out of every ten applicants. Last year alone, 16,628 candidates applied to both schools; just 1,520 gained an acceptance, a mere 9.1% admit rate.

Business school admissions are holistic, meaning that while standardized test scores and undergraduate transcripts are a critical part of the admissions process, they aren’t the whole story. In fact, the stories that applicants tell the schools in the form of essays can be a critical component of a successful application.

So what kinds of stories are successful applicants to Harvard and Stanford telling their admission officers? For the first time ever, a newly published collection of 50 of these essays from current MBA students at these two schools has been published. In ten cases, applicants share the essays they wrote in applying to both schools so you can see whether they merely did a cut-and-paste job or approached the task anew. The 188-page book, What Matters? and What More?, gains its title from the two iconic essay prompts at Harvard and Stanford.

THOUGHTFUL CRITIQUES OF THE ESSAYS

Stanford can easily boast having the most difficult question posed to MBA applicants in any given year: In 650 words or less, candidates must tell the school what matters most to them and why. Harvard gives applicants ample room to hang themselves, providing no word limit at all, “What more would you like us to know as we consider your candidacy?”

One makes this unusual collection of essays powerful are the thoughtful critiques by the founders of two MBA admissions consulting firms, Jeremy Shinewald of mbaMission and Liza Weale of Gatehouse Admissions. They write overviews of each essay in the book and then tear apart portions by paragraphs to either underline a point or address a weakness. The book became available to download for $60 a pop.

As I note in a foreword to the collection, published in partnership with Poets&Quants, the essay portion of an application is where a person can give voice to who they are, what they have achieved so far, and what they imagine their future to be. Yet crafting a powerful and introspective essay can be incredibly daunting as you stare at a blank computer screen.

APPLICANTS OPEN UP WITH INTIMATE STORIES THAT SHOW VULNERABILITY

One successful applicant to Harvard Business School begins his essay by conveying a deeply personal story: The time his father was told that he had three months to live, with his only hope being a double lung transplant. had to undergo a lung transplant. His opening line: “Despite all we had been through in recent years, I wasn’t quite sure what to expect when I asked my mother one summer evening in Singapore, ‘What role did I play during those tough times?’”

For this candidate to Stanford Graduate School of Business, the essay provided a chance to creatively engage admission readers about what matters most to him–equality-by cleverly using zip codes as a hook.

60605, 60606, 60607.

These zip codes are just one digit apart, but the difference that digit makes in someone’s life is unfathomable. I realized this on my first day as a high school senior. Leafing through my out-of- date, stained, calculus textbook, I kept picturing the new books that my friend from a neighboring (more affluent) district had. As college acceptances came in, I saw educational inequality’s more lasting effects—my friends from affluent districts that better funded education were headed to prestigious universities, while most of my classmates were only accepted by the local junior college. I was unsettled that this divergence wasn’t the students’ doing, but rather institutionalized by the state’s education system. Since this experience, I realized that the fight for education equality will be won through equal opportunity. Overcoming inequality, to ensure that everyone has a fair shake at success, is what matters most to me.

HOW AN APPLICANT TO BOTH SCHOOLS ALTERED HIS ESSAYS

Yet another candidate, who applied to both Harvard and Stanford, writes about being at but not fully present at his friend’s wedding.

The morning after serving as my friend’s best man, I was waiting for my Uber to the airport and—as usual—scrolling through my phone,” he wrote. “I had taken seemingly hundreds of photos of the event, posting in real time to social media, but had not really looked through them. With growing unease, I noticed people and things that had not registered with me the night before and realized I had been so preoccupied with capturing the occasion on my phone that I had essentially missed the whole thing. I never learned the name of the woman beside me at the reception. I could not recall the wedding cake flavor. I never introduced myself to my friend’s grandfather from Edmonton. I was so mortified that before checking into my flight, I turned my phone off and stuffed it into my carry-on.

The Stanford version of his essay is more compact. In truth, it’s more succinctly written and more satisfying because it is to the point. By stripping away all but the most critical pieces of his narrative, the candidate focuses his essay entirely on his central point: the battle of man versus technology.

Even if you’re not applying to business school, the essays are entertaining and fun to read. Sure, precious few are New Yorker worthy. In fact, many are fairly straightforward tales, simply told. What the successful essays clearly show is that there is no cookie-cutter formula or paint-by-the-numbers approach. Some start bluntly and straightforwardly, without a compelling or even interesting opening. Some meander through different themes. Some betray real personality and passion. Others are frankly boring. If a pattern of any kind could be discerned, it is how genuine the essays read.

The greatest benefit of reading them? For obsessive applicants to two of the very best business schools, they’ll take a lot of pressure off of you because they are quite imperfect.

GET YOUR COPY OF WHAT MATTERS? AND WHAT MORE? NOW

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What Does It Take to Be a Successful Entrepreneur?

Female entrepreneur using laptop in workspace

09 Jul 2020

The world is filled with aspiring entrepreneurs—people who believe they have what it takes to launch a company and build it into a profitable business. While anyone can start a business, not everyone will succeed.

Research by Harvard Business School Professor Shikhar Ghosh shows that up to 75 percent of startups fail. According to Zippia , 22 percent of small businesses fail within one year of being launched, half fail within five years, and approximately two-thirds fail within 10 years.

In light of these statistics, the question becomes: What does it take to be a successful entrepreneur ? What steps can aspiring entrepreneurs take to lay the groundwork for success?

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What Is an Entrepreneur?

An entrepreneur is someone who launches a business venture, typically in the form of a company that manufactures and sells a product or provides a service. Entrepreneurs are often viewed as innovators who identify a problem or opportunity, then develop a solution no one else has recognized.

In the online course Entrepreneurship Essentials , it’s noted that “entrepreneurs—either individuals or teams—actively scan the environment for opportunities, or discover them as they live and work. They form hypotheses about what customers want or need and how they can deliver value to the customer.”

Successful entrepreneurs don’t just charge ahead with their ideas. First, they seek to validate there’s demand.

One way they do so is through testing. According to Entrepreneurship Essentials , entrepreneurs “recruit people and invest money to determine if customers will indeed value the product and they can produce and deliver it at an acceptable cost. They often find different, even better ideas once in the marketplace.”

Check out the video below to learn more about what it takes to succeed as an entrepreneur, and subscribe to our YouTube channel for more explainer content!

Entrepreneurship Requirements

Do you have dreams of one day becoming an entrepreneur and launching your own company? In addition to a business idea, doing so will require you to possess certain skills and characteristics .

1. Key Entrepreneurship Qualities and Behaviors

Several researchers have tried to pinpoint a specific entrepreneurial personality or profile in an attempt to quantify what makes some more successful than others.

In Entrepreneurship Essentials , it’s explained that there’s no single personality profile that leads someone to success as an entrepreneur. However, there are a number of characteristics shared by some of the world’s most successful entrepreneurs.

Some behaviors that are distinct from personality traits and associated with entrepreneurship include curiosity, pattern recognition, team building, structured experimentation, adaptation, decisiveness, and persistence.

While it can be argued that some people are more inclined to exhibit these behaviors than others, each of these qualities can be acquired through proper training and development .

2. Essential Entrepreneurial Skills

Especially in the earliest stages of launching a business, entrepreneurs are responsible for performing a variety of duties—it comes with the territory. Before you have an accounting department, marketing staff, and product development team, you'll likely need to perform some of these critical responsibilities.

Taking the time to develop certain skills before launching your business can drastically improve your chances of success. Here’s a list of some of the most critical skills all entrepreneurs should have:

Communication skills , which you’ll leverage daily as you work with vendors, investors, customers, and various members of your growing team
Organizational skills , which will empower you to work toward your goals efficiently
Time management skills , which will be essential throughout your career, but especially early on, when you have multiple responsibilities
Data-driven decision-making , which will enable you to make objective, measurable decisions about your products, services, business, and customers
Strategic thinking , which will allow you to discover opportunities and threats that guide business decisions more easily
Accounting basics , which will be especially important before you have a person or team dedicated to managing your business’s finances
Resilience , because every entrepreneur faces challenges and struggles, and it takes resilience to bounce back

Entrepreneurship Essentials | Succeed in the startup world | Learn More

3. An Opportunity or Business Idea

For a new venture to succeed, the business plan must be centered around a solid opportunity. In Entrepreneurship Essentials , an opportunity is defined as a proposed venture to sell a product or service for which customers are willing to pay more than the required investments and operating costs.

An opportunity is more than a product idea, and it extends well beyond the initial act of getting into business. According to Entrepreneurship Essentials, “it’s a plan that shows how a venture will attract, retain, and reward all stakeholders, including customers, founders, employees, investors, distributors, and suppliers.”

That plan doesn’t end once you’ve identified an innovative business idea . Ideally, your concept should be validated before you commit resources, time, and effort to bring it to life. Once validated and pursued, you must constantly reevaluate your business to determine whether you need to adapt to new opportunities or threats.

4. Resources and Funding

Finally, to launch your business, you’ll need a source of funding to purchase equipment and materials, develop your product or service, iterate upon your offerings, and refine your processes. Exactly what funding looks like will vary depending on the type of business you’re launching and your industry.

For some entrepreneurs, self-funding is possible. In such cases, an entrepreneur might set aside enough money to pay for their living expenses while they get their business off the ground, in addition to the costs associated with the launch.

Self-funding isn’t the only option available. There are many other paths you might take, such as:

Securing an SBA loan from the Small Business Administration
Raising capital from investors
Applying for grants (this may be especially suitable for nonprofit organizations)
Crowdfunding from the public
Relying on a line of credit

Every form of funding comes with benefits and risks. Self-funding, for example, allows you to retain complete control over your business and potential profits, but also requires you to carry the risk of failure. Raising capital from investors, on the other hand, allows you to spread your risk and, potentially, launch your business quicker—but it forces you to give up a portion of your control. Ultimately, you must decide what makes the most sense for your business.

Which HBS Online Entrepreneurship and Innovation Course is Right for You? | Download Your Free Flowchart

Your Path to Becoming an Entrepreneur

Countless aspiring entrepreneurs have an interesting, innovative, and compelling business idea, but don’t have the skills or qualities to carry it through to fruition. Similarly, many others have the skills and qualities, but lack an idea to pursue. Even those with a brilliant idea and the necessary skills can fail to get their project off the ground if they don’t have access to funding. Successful entrepreneurship requires a blend of all these components.

The good news is: Successful entrepreneurs aren’t born—they’re made. With the right training , instruction, and development, everyone has the potential to become an entrepreneur.

Are you interested in learning the ins and outs of entrepreneurship? Explore our four-week online course Entrepreneurship Essentials and our other entrepreneurship and innovation courses to learn to speak the language of the startup world. If you aren't sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

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How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you if you have question on how to start a business essay. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success.

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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How Many Paragraphs Does a Business Essay Have?

What is the most important part of a business essay, how do you start off a business essay.

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Business Essay and the Best Way of Its Writing

Academic Writing Tips

Social Science
Political Science

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the programs. There are many branches in the business field, from business management to finance. College tutors often give students different business papers to test their knowledge as part of the assessment.

A business essay is an academic assignment that involves writing a paper that responds with a strategic and analytical approach to specific situations occurring in the market. Each business essay has a different topic that students tackle. However, the primary purpose of such essays is to collect relevant facts that align with the research question and analyze the data to get solutions.

Writing a business essay might seem simple, but it requires impressive writing skills and extensive research. You must be familiar with the topic to know the paper’s direction. Topic selection is a tricky section that affects the entire writing process. It is essential to identify a relevant topic to assist you in crafting a remarkable paper. You have to write a well-structured and compelling paper to get good grades. Presenting accurate arguments with supporting examples from reliable sources is an essential research aspect. Thus, a business essay must follow the required academic standards and theoretical frameworks.

However, writing is not everyone’s cup of tea, and incorporating logical arguments can be challenging. If you are stuck, you can check any business essay example online to understand the format. You will know how to structure the paper and relate it to the relevant themes.

That is why our writing service is here to help needy students craft exceptional essays. We will connect with a proficient business essay writer to help with the research and writing process. Get flawless documents from us and earn the best score in your class.

Business Essay Format

Most learners often overlook the importance of having a business essay format. It is imperative to use a format to help you outline your work. Proper thought organization and articulation are essential aspects that translate into a well-written business essay.

Below is an example of the format:

Introduction
Background information
Introduce main topics
Thesis statement
Topic sentence
Research explanation
Restate points
Significance of the study

The above outline is a map that will guide you to know what to include in each section. In addition, you will understand what the assignment requires you to do from the introduction to the conclusion.

If you still find it challenging to get the proper format, you can study a relevant business essay example from our site and jumpstart your paper. Whether you need a business school essay or a business plan essay, we have you covered.

Write Business Essay In 5 Steps

While writing might seem challenging, with the proper format and topic familiarity, you are on the right track. It is imperative to understand the writing process before composing your business essay. You need to read the prompt carefully to know what you are supposed to research and write about.

Here is an overview of the writing process in 5 simple steps:

Topic Selection

Choosing a good topic is mandatory in crafting an excellent paper. You must select a theme that aligns with the research question. Additionally, ensure you select a familiar topic you are passionate about to avoid writing mistakes and illogical paragraphs.

Extensive Research

Conduct extensive research to get facts and supporting evidence. Narrow down your theme and include only good points. Avoid broad topics because you will waste time during research.

Essay Outline

Make sure you use a proper outline to organize your thoughts and line of arguments. Follow the format essay

Start writing your paper while using the required academic format. Organize your work and include the introduction, main body paragraphs, or conclusion.

Editing and Proofreading

Finally, edit and proofread your essay to eliminate grammatical and spelling mistakes.

The above steps will help you during business essay writing to craft remarkable papers. It would be best to plan your time adequately to avoid rushing through the process. However, you must select an appropriate topic for your paper. It could be a business management essay or a marketing paper. No matter the subject discipline, ensure you follow the correct procedure.

Business Essay Topics

Our experts have compiled a list of different business essay topics to inspire your writing:

Discuss the importance of bookkeeping in a business.
Evaluate the impact of value addition in products.
An analysis of income and expenditure transactions.
Analyze the supply-chain industry.
The effects of product promotion in business growth.
How to develop an effective marketing strategy.
Impact of policymaking in enhancing company productivity.
What is multilevel marketing?
Impact of technology in the business world.
Discuss the challenges affecting entrepreneurship.
Significance of human resource management.
Explore the importance of budget analysis.
How does technology impact advertising?
The importance of a financial strategy.
How to start an online business.
How can organizations profit from sustainable practices?
How to develop a positive organizational culture.
The importance of employee diversity in an organization.
Effective ways of fraud prevention in a company.
Explore the communication channels in an organization.

Let us look at interesting argumentative business essay topics

Discuss the influence of cultural differences on international companies.
A comprehensive analysis of cryptocurrencies.
Discuss the ethical dilemmas in international organizations.
The influence of globalization on the business community.
Should large organizations have a social media presence?
Causes and effects of economic recession.
Impact of politics on business growth.
Discuss the effective strategies of negotiating cross-cultural business deals.
Explore the integrity of online entrepreneurship.
The impact of corporate social responsibility in an organization.

The field is quite diverse with various course programs. You can derive different topics from these programs to get logical arguments. So, get inspiration from the compelling business school essay examples and craft exceptional papers.

How To Start A Business Essay

Knowing how to start a business essay is essential for academic writing. The first step entails topic selection because it will determine the essay’s direction. Identifying a relevant topic is vital, and you need to ensure you get the suitable theme. It will also help save you time during research and simplify the writing process.

When it comes to essay writing service , business papers are among the assignments that require extensive research and analysis. Read the essay prompt carefully to understand the tutor’s expectations. Then, make sure you conduct a comprehensive brainstorming session to get the major points for your paper. Having the right points will help you compose logical arguments in a flawless manner.

Moreover, it would help to read previous essays and publications from reliable essays widely. You will get essential data to support your arguments. Besides, the sources will help you cite your essay correctly.

Start your essay with an insightful introduction and include your perspective regarding the topic. Incorporate a powerful thesis statement that informs your readers of the paper’s direction and the major points you will discuss.

Proceed to write the body paragraphs with a topic sentence that captures all significant arguments. Each paragraph should have well-explained arguments that flow logically.

Finally, conclude your business essay by restating your main points and the significance of the study.

Still, need help with your paper? Worry no more. Our competent business essay writers are on standby, ready to assist you with any academic paper. Stop wasting time and reach out to us. We will help you score top-of-the-class grades within no time.

The paper “Enterprises Resource Planning Success and Failure” is an outstanding example of a business essay. An Enterprise resource planning (ERP) system according to Aslan et al. (2012, p.693) is a management system within an organization that has sets of connected inclusive software, which may be used when espoused and put into practice effectively, to oversee and connect every organizational function. Basically, ERP systems may be employed as a tool for helping to improve the supply chain network as well as the level of performance by helping in decreasing cycle times.

Besides that, ERP systems have been utilized routinely in capital-intensive industries like building, construction, manufacturing, as well as defence. Latterly, ERP systems have advanced further and nowadays they are prevalent in industries such as education, health care, finance, hospitality, and telecommunications. Fundamentally, the benefits of ERP systems are hard to realise not unless a strong disposition, as well as participation, is established within the organisation; so, the article seeks to critically analyse ERP success and failure experienced by organisations.

BodyAs mentioned by Hellens et al. (2005, p.283), ERP systems are built upon a single database and application, as well as a coordinate that is unified in the whole organization. For that reason, every application serving different departments such as HR, accounting, and supply chain are integrated firmly under a single ERP system. Al-as observed by Al-Masha et al. (2003, p.354), ERP systems are useful when successfully implemented because they accelerate the process of decision-making. So, the success of ERP systems depends on the ability of an organisation’s managers to efficiently oversee the operation of a business, given that ERP systems can help them reduces operation costs.

Success drivers of ERP systems can be categorised into two: operational and technological drivers. In this case, operational drivers are associated with ways of improving organisational performance, supporting business strategies, as well as cutting production costs. On the other hand, technological drivers are predominantly associated with compliance with existing rules and regulations. The notion of success varies as the process of implementation continues, in that for planning and implementation (the first two stages of the cycle) success is mainly rooted in completing the ERP project to the standards that are acceptable within the budget as well as a time limit.

As pointed out by Hanafizadeh et al. (2010), stabilization as well as Improvement (the last two stages of the cycle) success is founded on the seeming impact of the ERP system on the performance of the organization. As indicated in Hanafizadeh et al. (2010) study, there are scores of factors vital for the success of ERP systems; support is top management one of the factors, and it involves encouraging commitment, positivity, and support of top management in the ERP project. Another factor is the utilization of knowledge as well as experience of system and technology consultants.

Additionally, the balanced project team is crucial for the success of ERP systems because it includes the integration of employees and information technology with the broad knowledge of the processes in the organization. As evidenced in Hellens et al. (2005) study, the accuracy of the information is crucial to the success of ERP project, so, data loaded from accessible legacy systems must at all times be of high quality. ERP project cannot succeed if the project management teams do not have a well-defined, detailed project plan related to the goals of the project.

Change management is also a success factor in the implementation of ERP project; so, careful attention has to be offered to this, considering that several changes in business processes are experienced during ERP systems implementation. Training and education are also important given that technical expertise regarding the ERP system, its reference model, and facts regarding its working are useful in the process of implementation. Other factors crucial for success consists of, availability of experts who aside from being in top management will frequently help the organization realize ERP system benefits.

Failure of ERP projects has been prevalent, and this has continued to bite worldwide across all business platforms. As pointed out in Xue et al. (2005, p.279) study, ERP poise substantial benefits like improving customer service, reducing manufacturing costs and boosts productivity, but these benefits are only realised after successfully implementing the ERP systems. Nevertheless, statistics show that implementation of ERP systems is still a failure amongst scores of companies. Statistically, 90 per cent of ERP systems implementations in Asia countries, especially China are either completed late or use more money and resources than those stipulated in budget.

In Xue et al. (2005) study, where they differentiated implementation success of ERP system in China as well as western countries, they noted that China had a higher percentage of failure which was attributed mainly to lack of support from top management as well as data inaccuracy. Other factors that led to ERP failure include poor participation, education and training, insignificant time ensuing from a minimal understanding of cross-operational organisational processes (Dechow & Mouritsen, 2005, p.691). Furthermore, ERP systems are exceedingly expensive, and also the need for the organisation to hire consultants to assist in the configuration as well as implementation, results in further escalation of price; thus, creating a high possibility of failure.

The cost used on consultants is almost thrice the cost of an ERP system; this negatively affects the productivity of the company and can lead also to the failure of the ERP system. ConclusionIn conclusion, it has been argued that ERP systems are beneficial because they improve the flow of information between every function of the company and also manages the connections to external stakeholders. Currently, the key basis of competitive advantage is the capability of a business to improve the processes of the supply chain.

This necessity has created the need for more advanced information systems like ERP systems. The articles have heightened numerous factors critical to the success of ERP, and which have allowed companies to efficiently plan their resources resulting in business efficient functionality and increased productivity. Failures as discussed in the article are caused by lack of support from top management, data inaccuracy, and lack of sufficient education and training.

The paper “New iPhones Show a Hit For Apple as Quarterly Profit Fluctuate 13 Percent” is an outstanding example of a business literature review. Yao (2014) explains that China is expected to provide information about its weakest growth since the occurrence of the global financial crisis within the third quarter while the property downturn is assessed based on manufacturing and investment. As a result, more pressure has been put on Beijing to unveil new stimulus measures. According to Yao (2014), the market assumes that the Communist Party leader will be able to adjust to the gradual slowdown. This will happen only in circumstances where there are no possibilities of experiencing a potentially destabilizing fluctuation in unemployment. However, anything weaker would lead to more speculations of key stimulus measures, for instance, an interest rate cut. Although the leadership has consistently provided steady aid specifically to vulnerable sectors of the economy, it has been noted that several stimuli have been ignored because China is still struggling to pay a huge local government debt (Yao 2014).

Article 2: New iPhones show a hit for Apple as quarterly profit fluctuate 13 percent

Due to strong demand for APPLE’s new larger-screen iPhones released in September, its quarterly profit increased by 13 percent. This also enabled APPLE to overcome the sluggish iPad sales (Jones 2014). Despite the more intensifying competition felt by Samsung Electronics as APPLE’s leading Smartphone competitor, Jones (2014) points out that the iPhone is attracting more consumers who are also ready to pay high prices particularly for cutting-edge handsets. Through its latest phones, Apple is profitably catching with its major competitors, such as, Samsung that have from time to time managed to post attractive sales of larger phones. It has also been noted that the marketing strength that iPhone has gained stands in contrast to sluggish iPad sales and the issues affecting Samsung’s Smartphone business (Jones 2014).

Article 3: Coal not the solution for poverty

Couchi (2014) examines that cheap coal-fueled electricity is highly considered by miners and politicians as the best alternative way out of poverty, particularly for developing nations. However, Africa has not considered this. In the business report provided by Couchi (2014) about the U.S financial group Citi, it can be noted that the booming market for African electricity has been a result of the coal approach. In the attempt to reinforce coals bearish outlook, Couchi (2014) reports that Citi discovered that a new International Energy Agency (IEA) outlook on the commodity is in contrast with the idea of BHP, the US coal producer Peabody as well as the Minerals Council of Australia which maintains that coal would play an integral role in minimizing energy poverty, particularly for developing countries. Despite its metallurgical and thermal forms, coal is considered the second-biggest mineral exported from Australia after iron ore (Couchi 2014).

Article 4: Ebola could be in the headlines, but tobacco is yet another killer in Africa

Research conducted by The Guardian (2014) shows that although Ebola dominates the headlines, there is yet another killer pandemic of great importance that continues to kill many people in the African continent unnoticeably. It is has been noted that tobacco kills at least one between two long term smokers. Currently, it is anticipated to kill 1 billion people globally before 2100. This is relatively more compared to the current number of people who die of Ebola. The Guardian (2014) terms this global issue as injustice and inequality because Transnational Tobacco Companies (TTCs), such as UK-based British American Tobacco (BAT) earn humungous profits yet they cause economic damage worthy over half a trillion dollars each year. Besides, TTCs contribute more to environmental degradation and thus create risks that compromise the health as well as the sustainability of populations. To earn more profits, TTCs are currently shifting and expanding their business to untapped markets in regions with unrestricted opportunities for growth (The Guardian 2014).

Article 5: NAB, ANZ lead pack in building home-lending share

The home loan is still considered the major driving force in recovering credit growth for banks. In this case, National Australian Bank (NAB) and ANZ are on the frontline to encourage the big banks in taking the advantage of the mortgage market, while home and business lending are sustainably becoming strong. Therefore, NAB and ANZ have put on media their fastest growth out of the big in all the past three months (Yeates 2014). Despite the faster growth and expansion made by NAB compared to their rivals in home lending, Yeates (2014) notes that analysts see business lending as a bigger concern because the bank has lost shares and faced more pressure, particularly on its margins. Generally, the home loan market is considered a major driving force that enables banks to recover from credit growth regardless of the risks associated with life specifically in business lending (Yeates 2014).

The paper “Globalization and Culture” is an outstanding example of a business essay. Today, it is common to hear people refer to the world as ‘a global village’. This has been a result of the process of globalization. This process has opened up and improved trade across regional and national borders. Not only has globalization enhanced economic interactions across nations but also improved access to information and uplifted the fight for human rights, among other benefits. Recent technological and communication developments along with improved road networks have been the key drivers of globalization. However, critics of globalization say that these benefits have been realized at a very high price: that of surrendering regional and national cultural values, mainly, for Western morals (Kwame, 2007).

Regarding this debate, two key schools of thought emerge. From one angle critics argue that globalization spreads out any and every culture all over the realm, leading to cultural heterogeneity and deeper understanding between diverse groups. This is mainly defined through the global production and distribution of commodities such that people in different parts of the world have access to commodities they would otherwise have never seen. A case in point is the cultural interaction between the United States and Japan. Teens in the U.S interact with the Japanese culture through their comic books, animations and video games, while teens in Japan interact with the American culture through watching TV shows and Hollywood movies produced in the U.S (Kwame, 2007).

On the flip side, critics argue that globalization erodes the regional and national cultural identity through cultural homogeneity. This leads to a cohesive global culture constituting diluted varieties of regional and national cultural nuances. For instance, French pastries, ‘American’ fried chicken, and Japanese sushi can be eaten in almost any part of the world. Restraint chains such as MacDonald’s and Starbucks have influenced traditions and behaviors in different countries. Even though champions of globalization claim that this merely affects consumer goods and media broadcasting, critics contend that it deteriorates customary culture ((Kwame, 2007; Czinkota, 2003).

Culture is a prevalent aspect in business whether it is in marketing, production, or human resource management. It is a key variable in the function of success in new markets (Czinkota, 2003). People’s purchasing decisions are based on a product’s design, style or color that supports their religious beliefs and practices. Empirical evidence shows that the success or failure of a company, especially, in a foreign market is reliant upon the effective managerial exercise of local religious beliefs and practices. Therefore, managers ought to be on familiar terms with their market’s religious differences given that religion influences people’s attitudes. For instance, Asians have a different attitude toward authority and women that differs from Western beliefs and practices. Whereas many parts of the world, including Asia, South America, and Africa, value collectivism very much, Americans are more individualistic. Chinese, Latin Americans and Koreans take time casually even as Americans are more proactive.

Failing to appreciate the religious beliefs and practices of the market will often lead to lots of inadvertent mistakes, such as being socially violent, cultural mix-ups, tarnished interpersonal relations, poor negotiations. As a consequence, the company’s future performance dwindles as profits decline. Lack of religious competence, or religious dogmatism, can easily put at risk millions of dollars through fruitless negotiations, lost purchases or sales, and pitiable customer relationships (Czinkota, 2003).

Cultural Literacy

Culture is a broad system that includes traditions, beliefs, attitudes, values, institutions and social interactions. This system reflects the global crunch facing the human race, and so it is a cultural catastrophe (UNESCO 1997). Dealing with such a cultural diversity calls for an important skill referred to as cultural competence. Chrisman (2007) defines cultural competence as ‘attitudes, practice skills, and system savvy for cross-cultural conditions’. The key force in work involving cultural competence is the people’s flexibility and ability to appropriately consider and treat the general public politely and in a proper way fitting their culture. Cultural literacy takes account of cultural competence plus the capacity to analytically mirror, and if needed institute change in, one’s a specific culture. Cultural literacy also comprises the capacity to examine the actions of central cultures measured against other cultures. This becomes very much useful in business. A case in point is the understanding of the effect of globalization or cross-cultural businesses on indigenous cultures all over the world.

Cultural literacy has been likened to an iceberg, through the iceberg model of culture. This is due to the expanse contextual material one requires to understand the culture. Cultural literacy often involves much more than the information essentially spoken. In other words, to understand the meaning of a cultural term, one has got to have much information that is not revealed by the bare meaning of that term. The clear cultural meaning of the term is like the ‘tip of an iceberg’ meaning that the deeper understanding lies below the casual meaning of the term and it constitutes a person’s own applicable information. It is known that 15 per cent or less of an iceberg can be seen above the water surface, 85 per cent or more of the iceberg is submerged below the water surface. This means that there is quite a different picture depicted shallowly from that which is the actual translation in the literature, giving the imprint that implied information comprises relatively tiny bits and pieces of information, left out by the correspondent due to dismissal or suitability (Hawkes, 2001).

Figure 1: Iceberg Model of Culture

It has been stated earlier that culture is a broad system that among other aspects involves religion. The world is very diverse in terms of culture as well as religion. Each culture embodies a creation in itself and yet it is not closed. Cultures give religious convictions semantics, and religions provide decisive connotation to each culture. Religion is a way of life for numerous cultures saturating every one human action. In other cultures, it characterizes the utmost ambitions of human life, and for others, religion is an institution that claims to convey a meaning of deliverance (Hawkes, 2001).

The paper “The Different Communications ” is an outstanding example of a management assignment. Phone: 23 rd August: the communication was made to remind that the bill for the mobile phone is outstanding and if not paid within the date will have a fine imposed on it. The communication was successful as it helped to fulfill my need and acted as a reminder. Further, the call also ensured that it was complete and all the details like outstanding amount, due date, late fine, and other details were provided. The call was complete and highlighted the important aspect which if ignored could have an impact on my usage.

Radio: 24 th August: The communication was made regarding the areas which are having huge traffic and showed the roads which should be avoided. The communication was successful as it helped to fulfill my requirements by highlighting the different roads which need to be avoided and which need to be used. The communication was further clear and loud regarding the different roads and path which should be avoided. This method acted as one where proper guidance was provided and acting in the correct way was highlighted so those correct decisions can be taken.

Communications that were unsuccessful

Television: 24 th August: The communication was made regarding the sale of women’s garments. The communication was ineffective because in the first instance it didn’t meet my needs and requirements as I was not looking to shop. Secondly, the message was not constructed properly as it didn’t speak about the brands which were available on sale, the different garments which were available, and also didn’t highlight the date when the sale would end.

Phone: 25 th August: The communication was made regarding the mobile bill payment which has already been made. The call was ineffective because it was not required as the payment has been made and I had the required receipt. The call was instead a wastage of time. In addition to it, the call was not constructed properly and required to focus on areas through which a message would have been enough as a source of communication to ensure that the payment was correctly entered.

Reasons for communication not to be successful

The communication process can be improved in the following ways

Firstly, ensuring that the communication which is made is required and is addressed properly so that the person who receives the communication gains from it (Nicholas, 2013)

Secondly, providing complete information is essential as it will serve as a benchmark to evaluate the manner in which different information is passed (Anne & Bochner, 2007). It will also help to understand the important matter which has been spoken and will help to highlight the manner in which changes can make so that proper communication and message is passed

Thirdly, the targeted audience was wrong and it is important to correct the audience (Mehrabian and Susan, 2007). This will help to improve the validity and reliability of the communication and will ensure that the process of communication becomes effective and is directed towards the correct person

Fourthly, the process of communication needs to be improved and changed so that the message is correctly interpreted and passed with the same intention (Imahori & Lanigan, 2012). This will help the listeners to evaluate the message in the correct form and will help to ensure maximum response.

Fifthly, the media which are used needs to be chosen wisely as the usage of a message instead of a phone call for bill paid confirmation would have been more helpful and could have caught the attention of the audience in a better way. This would have multiplied the effectiveness of communication and would have helped to understand the important points and issues.

The process of communication thereby requires working on the smaller and important aspect so that the overall process of communication improves and helps to provide the required dimensions through which effectiveness can be gained in the manner messages are passed.

The paper “Why Did Telefonica Initially Focus on Latin America” is a perfect example of a business assignment. Based on Telefonica’s objectives of rapidly increasing shareholder value, profits and achieving growth, it had to take advantage of location economies. Hence, the company initially focused on Latin America, as it must have perceived FDI to be a means for circumnavigating trade barriers. Indeed, the reasons why Telefonica initially focused on Latin America are perceivable through the lens of the Uppsala Model Theory.

According to the theory, the internalisation of a company across many foreign markets is correlated to psychic distance, where the first entry is to foreign markets that are familiar and closer in regards to the psychic distance of the host country, before making subsequent entries in foreign markets with greater psychic distance. Psychic distance comprises the differences in culture, language and political systems (Falvo & Parshad 2005).

Within the perspective of Uppsala Model Theory, it should be argued that companies tend to gradually increase their activities in international markets through a series of incremental stages, where the succeeding steps are anchored in learning and adapting to foreign markets (Pandian & Sim 2002).

This implies that the firms fast gain experience from the markets, where they have closer cultural ties before expanding to foreign markets. For instance, Telefonica had to first gain experience as a telecoms operator in Latin America, since the region has deep cultural ties with Spain, where it is headquartered.

Strategic competitive advantages

The company’s decision to slowly expand to Europe appeared opportunistic as well as strategic. Europe had initially possessed trade barriers that lowered the chances of successful entries. Essentially, there is a correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers, in terms of competition are bypassed in preference to those that are less competitive (Enu & Attah-Obeng 2010). This argument is based on Dunning’s Eclectic Theory, which hypothesises that a company will always seek to leverage their specific advantages, including marketing, knowledge, skilled personnel, technology and information (Dunning 2001).

In this case, the Latin American markets were growing rapidly. They also experienced an increased high adoption rate and usage of mobile phones and internet connections. Additionally, after the Spanish government privatised Telefonica and deregulated the Spanish telecommunications market, the company’s core objective became increasing shareholder value, profits and achieving growth.

This implies that profit maximisation is a major drive to foreign direct development; through the use of particular advantages the company has (Glesem et al. 1990). It, therefore, had to select a region that would enable it to achieve higher profits. The company selected Latin America over Europe. Latin America had few entry barriers, such as competition and government regulations, while Europe had greater barriers due to more competitors. This implies that imperfect competition within the marketplace is a key incentive for expanding abroad. Besides, European mobile telecommunications operators had agreed they would not invade each other’s markets. However, after the entry of America Movil into Latin America, Telefonica faced a stronger competitor, forcing it to expand to Europe.

Commenting on other student’s post:

Why did Telefonica initially focus on Latin America? Why was it slower to expand in Europe, even though Spain is a member of the European Union?

While the student hinted at the growth of multinational enterprises, a brief outline detailing why the company expanded and reasons for expansion could have provided a more relevant backdrop. Additionally, the reference to the Socialist Party by Popular Part in the general election of 1996 was irrelevant and out of context. The student’s decision to link the factors for the European Union to the opening of the telecommunications sector was misplaced. Rather, the student should have selected reasons why Telefonica selected to begin operating in Latin America before making headway to Europe. However, reference to high competition in the sector in Europe was justified.

Accordingly, the student should have explored the close cultural ties between Spain and Latin America, as the major drivers that triggered Telefonica to first launch in the region before expanding to Europe. In supporting the argument, a reference to a relevant theory, such as the Uppsala Model Theory could have pointed to the reasons why internationalisation of a company across many foreign markets is correlated to psychic distance (Uhasselt. be 2005). This includes why the initial entry is mostly made in foreign markets that are familiar and closer in regards to the psychic distance of the host country. Afterward, an explanation of what this meant to Telefonica based on the theory could have been appropriate (Gustafsson & Zasada 2011). For instance, the student should have stated that firms get to fast gain experience from the markets where they have closer cultural ties before expanding to foreign markets.

The student should have based his arguments on Dunning’s Eclectic Theory, which proposes that firms tend to use their peculiar advantages such as marketing, knowledge, skilled personnel, technology and information (Rugman 2010). Further, he should have stated that companies view FDI as a means to circumnavigate trade barriers before going forth to describe the correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers in terms of competition are bypassed in preference to those that are less competitive.

While the student was also justified in arguing that the company sought to maximise profitability and to increase shareholder value, no basis was provided to support the argument, based on the case study. At this stage, the student should have suggested a theory to support his argument (Morgan & Katsikeas 1999). Later, the student should have provided examples from the case study to defend the choice of the theory he selected. However, the student provided examples outside the case study, such as “Telefonica has been able to establish footprints in 24 countries and having an average of 120,000 professionals with consolidated revenues of 24,957 million euros in January-June 2014 and more than 315.7 million customers at June 2014”

Additionally, the reasons the student outlined as the likely motivators for Telefonica to launch first in Latin America before making entries in Europe cannot be justified, as they have not been argued appropriately. For instance, in suggesting political developments, taking policy advantage and the fact that the markets shared a common language, the student should have discussed the concept of psychic distance and the related theory, such as the Uppsala Model Theory.

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by Laura Jones

Updated on January 5, 2024

7 tips for writing business essays

If you’re looking for business essay writing tips, we’ve got you covered. Creating an interesting, well-structured, and readable business essay isn’t easy, but there are a few simple steps to follow to take the stress out of it and make sure you get it right every time. Read on to learn what to write in a business essay introduction and conclusion and how to structure a body paragraph perfectly. Here are our tips on how to write an English business essay.

Analyze the topic and make a plan
Use formal language
Write the introduction
Write the body paragraphs
Put in some research
Write the conclusion
Proofread and edit to create your final draft

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1. analyze the topic and make a plan.

The first thing to do when you’re writing a business essay is to analyze the topic and the essay question closely. If there’s a word in the question like ‘explain’ or ‘compare’ this will affect how you write your answer. Decide what your position is; do you need to agree or disagree with something, or come up with a solution? When you’re clear about what the question is asking and how you want to answer it, do some reading on the topic,find some sources that you want to use in your essay, and make an outline with the headings and paragraphs that you want to cover

2. Use formal language

Writing any type of essay requires you to use formal language , but this is even more true of a business essay. Get into the business essay mindset and avoid using contractions, slang, and other colloquial language in your writing.

Bad: It’s going to be bomb.

Good: It is going to be excellent.

3. Write the introduction

Wondering how to start a business essay? Like any other essay, you start with an introduction. A business essay format isn’t very different from any other type of essay. In your introduction, you should explain why the question (and therefore your essay) is important. This will hook your reader and make them interested in what you’re going to say next. Set out the order in which you’ll address the points in your body paragraphs – this is usually called a signpost introduction. And, very importantly, keep it short.

4. Write the body paragraphs

Your body paragraphs should take up between 60 and 80% of your business essay. Most essays should have at least three paragraphs, and you should focus on one point per paragraph. Each paragraph should start with a topic sentence that tells the reader what the paragraph is about, and then have a supporting sentence to develop your point. After this, you can provide some evidence to support your argument.

You should also use transition words , like ‘however’ and ‘although’ in your paragraphs to help link ideas together. Using transition words at the start of paragraphs is also a good idea and helps the reader follow your argument. For example, you might start one paragraph with ‘On the one hand,…’ and the next with ‘On the other hand,…’.

5. Put in some research

We just mentioned that you should put some supporting evidence into your paragraphs in a business essay. This is the time to use the sources that you found before you started writing. You might have a quotation to add, some statistics, a graph, or a summary of an expert’s point of view. Whatever you do, make sure you cite the source correctly.

When you’ve put your research in, interpret the evidence so it supports your idea. Throwing a graph into an essay is meaningless if you don’t have a sentence saying, ‘As the graph shows, public parks are increasingly…’

6. Write the conclusion

Finally, you reach the conclusion. Use your conclusion to briefly summarize your answer, and make sure you don’t introduce any new points or arguments. You might want to mirror the introduction in your conclusion. This doesn’t mean rewriting the introduction or using the same words.

Introduction: This essay will discuss the benefits to public health of having green spaces in towns.

Conclusion: In summary, outdoor spaces in cities can contribute positively to public well-being.

You might also want to include ideas for further research or a call to action in your conclusion, like in the following example:

Local councils should allocate a greater part of their budget to improving and expanding public parks.

7. Proofread and edit to create your final draft

The first draft of your essay is for your eyes only. Once you’ve finished writing, step away for at least a few hours and then go back and read it through again. Check that your argument is clear in the essay and that you’ve answered the question. Ensure that it makes sense not only to you but to anyone who might read it. An online tool like Grammarly can help pick up spelling and punctuation errors, but it’s not a replacement for careful proofreading.

Are you ready to write your business essay?

Starting with a thorough understanding of the question, formulating your answer, and finding unbiased research to back up your argument are your first steps. Follow the format of a business essay – introduction, body paragraphs, and conclusion – and then edit ruthlessly to create your perfect business essay.

Laura Jones

Laura is a freelance writer and was an ESL teacher for eight years. She was born in the UK and has lived in Australia and Poland, where she writes blogs for Lingoda about everything from grammar to dating English speakers. She’s definitely better at the first one. She loves travelling and that’s the other major topic that she writes on. Laura likes pilates and cycling, but when she’s feeling lazy she can be found curled up watching Netflix. She’s currently learning Polish, and her battle with that mystifying language has given her huge empathy for anyone struggling to learn English. Find out more about her work in her portfolio .

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More From Forbes

The power of introverts: lessons from successful business owners.

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Introverts bring some unique skills to the table that can give them a real edge in the business ... [+] world.

Let's talk about something that doesn't get enough attention in the business world: being an introvert as a business owner. Picture this - a quiet, thoughtful person running a thriving business. Sounds unlikely? Well, think again.

We often hear that to succeed in business, you need to be loud, outgoing, and always "on." But here's the thing - introverts have some seriously cool strengths that can make them rockstar entrepreneurs. Don't believe me? Stick around, and I'll show you why being an introvert in business is actually a superpower.

What Percentage Of People Are Introverts?

While exact numbers can vary depending on the study, it's generally estimated that introverts make up about 30-50% of the population. This means that a significant portion of people, potentially up to half, have introverted tendencies. It's important to note that introversion-extroversion exists on a spectrum, and many people fall somewhere in the middle, displaying traits of both.

What Makes Introverted Entrepreneurs Tick?

Introverted business owners might not be the life of the party in team meetings, but they've got some serious superpowers when it comes to running a business:

They're reflection ninjas: Introverts love to mull things over. This means they often make super well-thought-out decisions. No knee-jerk reactions here!
Masters of deep work: While extroverts might get antsy sitting alone for hours, introverts thrive on it. This makes them great at tackling those big, meaty projects that need serious concentration.
Listening legends: In a world where everyone's talking, introverts are busy listening. This makes introverted business owners fantastic at understanding what their customers and employees really need.
Creative problem-solvers: Thanks to their rich inner worlds, introverts often come up with those "why didn't I think of that?" solutions to tricky business problems.

Fed Cuts Interest Rates For First Time In 4 Years: Here’s What It Means For You

Samsung’s new update surprises galaxy users—this changes everything, ios 18: apple just gave iphone users 33 reasons to update now.

The key for introverted entrepreneurs isn't trying to become extroverts but embracing who you are and using those natural strengths to your advantage. Once you do that, you can build a strategy for your business that plays to your unique talents.

Are Introverts Better Entrepreneurs?

So, what specific strengths do introverts bring to the business world? Let's dive in:

Lead by example: Introverts might not be giving rousing speeches every day, but they lead through their actions. They're often super reliable and consistent, which builds a ton of trust with their team, clients and suppliers.
One-on-one wizards: While big networking events might be draining, introverts shine in smaller, more intimate settings. This makes them great at building those deep, meaningful connections that are gold in business.
Strategic thinkers: Introverted business owners love to observe and analyze before jumping in. This often leads to really smart, well-thought-out business decisions.
Independent workers: Give an introvert a quiet space and a big task, and watch them go. They don't need constant external motivation, which can be a huge asset when you are running your own business.

These are legit superpowers that many extroverts would love to have. When introverted business owners learn to harness their strengths, they can become absolute powerhouses in the business world.

Famous Introvert Businessman and Woman

Don't just take my word for it. There are tons of super successful introverted entrepreneurs out there. Let's look at a few:

Sarah Blakely, Founder of Spanx: Sarah's a self-proclaimed introvert who credits a lot of her success to her love of alone time. She came up with the idea for Spanx by spending hours thinking and brainstorming by herself. The lesson? Sometimes, the best ideas come when you give yourself space to think.
Brené Brown, Researcher and Author: Brené's work on vulnerability and leadership has touched millions, and she's an introvert! She uses her natural tendency to dig deep into research to connect with her audience in a really profound way. It just goes to show that you don't need to be the loudest voice in the room to make a big impact.
Warren Buffett, CEO of Berkshire Hathaway: One of the world's most successful investors is a total introvert. Buffett's thoughtful, analytical approach to business has served him incredibly well. He's living proof that you don't need to be a social butterfly to build a business empire.

These folks show us that you don't need to be the life of the party to crush it in business. Sometimes, it's the quiet, thoughtful approach that leads to the biggest successes.

Grow Your Business As An Introvert

Alright, so you're convinced that being an introvert can be a business asset. But how do you actually put that into practice? Here are some ideas:

Design your business around you: If big networking events drain you, focus on smaller, more meaningful interactions. Create a business model that plays to your strengths, like remote work or flexible hours.
Embrace tech for communication: Use tools like email, Slack, or video calls to stay connected without the energy drain of constant face-to-face, in real life meetings.
Build a balanced team: Surround yourself with people who complement your style. Got an extrovert on your team who loves public speaking? Let them handle those tasks while you focus on strategy. When you decide it is time to sell your business, know that Your Team Can Triple Your Exit Price and Remote Teams Impact Business Valuations .
Make time for quiet: Don't underestimate the power of alone time. Schedule regular periods for uninterrupted thinking and reflection. You never know when your next big idea might strike!
Find your tribe: Seek out mentors and peers who get your introverted approach to business. Learning from others who've walked a similar path can be incredibly valuable.

Here are 10 More Ways To Grow Your Small Business , and make it attractive to buyers.

Activate Your Strengths As An Introvert Today

Ready to put this into action? Here's a little challenge for you:

Identify your strengths: Take 15 minutes to think about your top three introverted superpowers. Are you a deep thinker? A great listener? A strategic mastermind?
Make an action plan: Pick one of those strengths and come up with a concrete way to use it more in your business this week. If you're great at one-on-one interactions, maybe schedule some personal check-ins with key clients or team members.
Schedule some quiet time: Block out at least an hour this week for uninterrupted thinking or work. Use this time to reflect on your business goals or tackle a project that needs deep focus.
Reflect and adjust: At the end of the week, think about how it went. Did you feel more productive or inspired? Use what you learn to make your work routine more introvert-friendly.

Look, being an introvert in the business world isn't always easy. But it's time to stop seeing it as a weakness and start seeing it as the strength it really is. Your quiet power can lead to some seriously impressive success as a business owner - on your own terms. So go out there (or stay in, if that's more your style) and show the world what introverted entrepreneurs can do!

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Businessman - Free Essay Examples and Topic Ideas

A businessman is someone who engages in commercial or industrial activities with the aim of making a profit. They often work in industries such as finance, retail, manufacturing, and technology, and are responsible for managing various aspects of their business, such as finances, operations, sales, marketing, and human resources. A successful businessman has strong leadership and communication skills, is knowledgeable about their industry, and is able to make strategic decisions to grow their business.

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Essay: How to Become a Successful Businessman

Being successful as a businessman means attaining several levels of accomplishment. Each of these takes time and energy, but also the ability to recognize what makes an individual truly successful in business and also in life.

A successful person does not just measure themselves based on money and material gains, although these are important in the greater scheme of things.

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Things to consider becoming a successful businessman

A truly successful businessman measures their achievements in terms of creating value and wealth. These are always going to have importance in their life success because these have an intangible worth and also a measurable profit in material life. So keep these concepts in mind, as we explore how someone may become a successful business person .

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Find a Niche Market to Focus On

Successful business people usually start by focusing on a particular niche market. There is a reason for this that is sound. Everyone knows there is money to be made in selling used and new automobile parts, but if you don’t know much about automobiles, you can easily lose your hat.

Making serious profits comes from selling a product you believe in and know something about. Successful people always start by going with what they really know. This is the best way to make money and do it without incurring unforeseen costs or losses in business.

Learn How to Network Effectively

The first skill set of successful businessmen is networking. Exchanging ideas and opportunities with fellow business owners , salesmen, developers, and retailers is just the beginning, learning how to network with other business people effectively can be very profitable. It also helps to have friends in a variety of places socially and economically.

Understand What Customers Want

Whatever industry your business is in, all successful businessmen must understand what their customers want. This is a highly sought-after skill, especially if your instincts are good at it. Understanding the needs, intentions, and wants of your niche market audience is an extremely valuable asset in modern business.

So successful businessman takes time to talk to their customers and clients, getting to know their likes, dislikes, and why they choose to buy your product, good stuff to know.

Build Lasting Business Associations

It is never enough to attract customers or regular new business traffic. A successful business person is one who cultivates long-lasting business associations. Every new customer is an opportunity to lay the initial foundation for networking and building lifelong business relationships.

This is something of great value but often gets overlooked by business owners , so don’t. Make every customer and client a priority and building lifelong customers will be easy.

Surround Yourself with Intelligence

In order to make decisions, you need a team of people who will help with information, opinions, and actions. A person can surround themselves with people who agree with them, but it is better to have a team that will offer real suggestions and cut through the crap.

A successful businessman keeps intelligent people in his circle of trust, this gives him many pools of information to draw from and make the best possible decisions about everything that comes along.

Invest In People Who Show Loyalty

When someone works hard and demonstrates loyalty to your goals, this is a person to promote within your business. Nothing is more important to business productivity than having employees that can be trusted and will have your back.

To be a successful businessman, you must have a team of people that work towards your goals and you can count on them. This is perhaps the most important key to business success. Showing appreciation and recognition to such employees, in the long run, will serve you well.

Train Others to Do What You Do

Once you have established yourself as a successful businessman, remember there will be times that you get sick or cannot complete a job. Therefore, it is necessary to train others under you to do what you do for any company.

Teaching others demonstrates the knowledge you have acquired over time. It also makes sure that other people in your ranks understand how you do business and can apply this knowledge to do their part in your company. Training others to do what you do well is a sign of strength and success as a business person.

True Success Is Enjoyable

The truly successful business person knows that the measure of success is found throughout life. If you are achieving your goals, then take some time to enjoy the fruit of your profits. Everyone needs to take time and have fun so that the stress of business life does not inhibit your ability to keep moving forward.

A businessman that does not spend some of their profits on themselves will never know the value of true success. To be successful is to find happiness and enjoyment in daily life. Remember this on the road toward a successful journey in life.

Using the various ideas listed here will help you achieve success in any industry or business type today. The successful businessperson understands there are many layers of knowledge and will always seek to better their scope of understanding business methods.

If you follow these simple concepts and utilize them on a daily basis, you are sure to be on your way to becoming a successful businessperson. Good luck and have fun doing it.

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Strategies for success: 8 tips to craft a winning business essay, april 20, 2023.

8 tips to craft a winning business essay for success

In this article, we will explore eight key tips that will guide you toward success in creating a winning business essay . From understanding the nuances of the subject matter to presenting your ideas with clarity and conviction, these tips will empower you to craft a remarkable piece of written work.

8 great tricks for writing a winning business essay

When it comes to writing a winning business essay, using effective strategies can make all the difference. By implementing the following eight tips, you can enhance your essay’s quality and increase the chances your business writing has a maximum impact on your target group of people.

Choose a topic

The first step in writing a great college assignment is choosing the right topic. Often students are given topics to work with, simplifying things as they only need to ensure that their content aligns with the subject and the project’s scope. When handed the freedom to choose, however, you have to make sure that your business topic is relevant, interesting, and narrow enough to be covered in the length indicated. For the best topic, review available evidence through preliminary research, ensuring that there are enough sources to support your writing.

Brainstorm and outline

Once you have understood what is expected, brainstorm ideas and create an outline. Outlining saves you time and ensures you stick to the topic. It includes your main points and allows you to gather evidence and examples for your essay. Write down what you can think of relating to the topic for a good outline.

You can develop these ideas further in readiness for the writing process through research. Sure, you will need to create a thesis statement to guide you with the outline. A thesis is a statement or two at the end of your opening paragraph, presenting your primary argument and telling readers what to expect from the writing.

Follow the right format

Use the conventional format to create your essay, opening with a good introduction before going into the body paragraphs. Only have one idea in each paragraph, explaining it in detail using evidence before moving to the next idea. Use transition phrases and sentences to tie your writing together.

Stick to the right note

Your tone of voice, when you write a business document, matters as it helps you establish and balance your brand. Experts indicate that business writing demands consistency across all written communications. It means creating a unique voice to maintain in all your documents, allowing audiences to identify with your material.

When prospects and potential clients view the material, they should instantly associate it with your product. It is ok if you need to learn how to create an outstanding paper; you can always hire a reliable service like EssayUSA to work on your task.

Get to the point quickly

There is no place for small talk in business writing. Readers will have limited time to consume your content; you cannot spend it going through unnecessary information. So, to create exceptional writing for business. Ensure that you get to the point as soon as possible. You don’t want to distract your readers before they get to listen to your main message.

Your safest bet is ensuring your content is scannable, allowing readers to find the most crucial information in your essay easily. If possible, include headings and subheadings in your writing, making sure the structure of your document is easily accessible to your readers.

Be clear and concise

One of the vital things you can do when writing a business document is to ensure clarity and conciseness. Experts recommend using plain language to write business papers. There is no need for lengthy and distracting paragraphs. You need to keep your writing short and clear, articulating your points in as few words as possible.

Expert writers also use specifics to highlight their points, avoiding being vague in their business writing. Always keep the goal of your writing in mind throughout the process.

Avoid clichés and jargon

Read and understand the instructions.

When writing a business essay for an academic project, there will be a set of instructions you are expected to follow. These indicate what the student will achieve within the project’s scope and outline elements like formatting, citations, length, and the number of sources. Before writing your assignment, ensure these guidelines are clear by reading them multiple times. Ask your professor to clarify elements that seem vague or complicated.

Crafting a winning business essay requires a combination of skill, knowledge, and creativity. By implementing the eight tips discussed in this article, you can create an impactful essay that will impress your professors, colleagues, or clients.

With practice, persistence, and dedication, you can achieve success in the world of business essay writing. So, start writing, and let your words inspire and captivate your readers.

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Essay: Businessman V/S Entrepreneur

Business / Samples March 26, 2011

Sample Essay

Words 1,210

For all those who think that businessmen and entrepreneurs are more or less must read this essay to see the other side of the picture as it highlights all the points that are considered to be the grounds of differences between the two.

What is the difference between a businessman and an entrepreneur? Are they the same? They are somehow closely related as both do business. BUT they are different.

To answer it directly, considering in a puppet and puppeteer relationship, an entrepreneur is the puppeteer while the businessman is the puppet. Similarly, in an employee-employer relationship, the entrepreneur is the employer while the employee is the businessman. In short, an entrepreneur MANAGES a businessman!

However more significant differences between the two includes: A businessman owns an enterprise or venture that is usually profit oriented while an entrepreneur owns an enterprise or venture that is usually customer oriented.

A businessman is generally traditional, usually plays safe and owns an enterprise that is purchased, donated or inherited while an entrepreneur is an innovator, bold and ambitious in nature and creates his own idea and realize it as a business.

The common difference between the two is that a businessman works for the Company and usually does not have time for his/her families and love ones while in entrepreneurship the Company works for the entrepreneur and he/she shares enough time with his/her families and love ones.

Another major difference between the two is that a businessman generally hires people to contribute profit and commonly commit tax dodging to save taxes and increase profit while an entrepreneur generally hires people to make their lives better and practices tax avoidance to save taxes and increase profit.

As a conclusion, a businessman is similar to an entrepreneur because an entrepreneur is a businessman. Entrepreneur is a businessman which is not traditional but is an innovative and creative type of a businessman. An entrepreneur differs a lot from a usual businessman. His entrepreneurship is created out of his own innovative idea and creation which is realized to be placed in business or to be transformed as a good business. Entrepreneurs are also more concerned on the quality of their products and on the satisfaction of their customers rather than being too much concerned to their profits. Which in turn makes the entrepreneurs to earn less while a businessman on the other hand earns huge profits. (Stephen J.)

BUT a businessman needs to evolve to become an entrepreneur. Have you ever thought of calling McDonalds to order a food? The owner is not the one attending to your orders but his people and he earns from it. A mere evidence of earning by employing businessman or people. That is an entrepreneur!

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The Increasing Cost of Buying American

The latest resurgence in the U.S. of policies aimed at reducing imports and bolstering domestic production has included the expansion of Buy American provisions. While some of these are new and untested, in this paper we evaluate long-standing procurement limitations on the purchase of foreign products by the U.S. Federal Government. We use procurement micro-data to first map and measure the positive employment effects of government purchases. We then calibrate a quantitative trade model adapted to include features relevant to the Buy American Act: a government sector, policy barriers in final and intermediate goods, labor force participation, and external economies of scale. We show that current Buy American provisions on final goods purchase have created up to 100,000 jobs at a cost of between $111,500 and $137,700 per job. However, the recently announced tightening of the policy on the use of foreign inputs will create fewer jobs at a higher cost of $154,000 to $237,800 per job. We also find scant evidence of the use of Buy American rules as an effective industrial policy.

We thank Vidya Venkatachalam and Bohan Wang for excellent research assistance. We appreciate comments by seminar and conference participants at LMU Munich, Boston University, Duke University, Hong Kong University of Science and Technology, the University of Hong Kong, Singapore Management University, Peking University HSBC Business School, Yale University and the CESIfo Venice Summer Institute. We also thank Andrés Rodriguéz-Clare and Steve Tadelis for very helpful suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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I'm teaching my kids financial literacy and self-compassion. My immigrant parents didn't have the tools to do the same for me.

Growing up in a low-income immigrant family, my parents parented for survival.
I am raising my children differently by teaching them about financial literacy and self-compassion.
This comes with feelings of excitement, envy, and guilt.

As I sit on our backyard swing and watch my 6-year-old son and 2-year-old daughter play, I cannot help but think that the way I parent is different from how my immigrant parents raised me.

They parented for us to survive, allowing me to parent my children to thrive .

Growing up, I remember my parents using coupons and rain checks, and comparing supermarket ads to find the cheapest options. I learned these shopping techniques passively while watching them discover how supermarkets operate in the US and translating for them. This is in stark contrast to the way I parent, where my son is an active learner.

I take my son shopping with me

When it comes to shopping for food , I teach my son to find the best deals while balancing that out with finding healthier options, which tend to be more expensive. I help my son read and compare the prices of items. We then check the ingredient list for the sugar and salt content.

I feel guilty being able to afford healthier options than my parents could, but I also feel excited about pointing out to my son items on sale, like two for $4 canned olives.

Sometimes, when he wants something, I ask him: Do we need it, already have it at home, or is it on our shopping list? There is always a dialogue about why we are buying certain items and not others.

I want them to understand emotional intelligence

Besides financial literacy, I am teaching my children about emotional intelligence which was rarely talked about in my childhood.

Sometimes, we read an activity book titled "Focus Feelings," which helps kids identify different emotions such as sad, scared, angry, anxious, and introduces coping mechanisms like reading a book, listening to music, drawing something, or getting a hug.

They also learn about " The Feeling Thermometer ," which has four zones: red (very angry or sad), orange or yellow (slightly angry or sad), and green (happy). I often ask my son what zone he was in at school. How did he manage to get out of the red, orange, or yellow zone? What made him get in the green zone? One day, he blurted out that he was in the red zone, so he needed to listen to music to feel better.

Sometimes, I feel a bit envious of everything my children are learning and wonder how my parents would have parented me if they had access to the same information I do. But I'm also excited; I love teaching my kids strategies that will help them thrive.

I model self-compassion

I am also trying to model self-compassion techniques. Whenever I make a mistake, I usually say, "It's OK. It happens." Similarly, when my kids make mistakes, I remind them that everyone makes mistakes. That's how we learn.

When I sense my son is scared to do something, I tell him I get scared, too. If he is drawing something and is unhappy about the results, I say that it's OK — things don't always turn out the way we want them to.

Teaching my kids all of these techniques makes me feel guilty, as if the way I parent is a criticism of how my parents raised me. But I remind myself that parenting differently does not imply one way is inferior and the other superior. Different can simply mean enhanced.

I'm letting the guilt go by embracing the way my parents raised me and enhancing it by providing my children with what I didn't have.

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Donald Trump is back on the campaign trail just days after a second apparent assassination attempt. In his first public appearance during a town hall in Michigan, Trump said that being president is a “dangerous business.”

Trump makes first public appearance after second apparent assassination attempt

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Guest Essay

I’ve Studied the Polls. Here’s Why Harris Isn’t Running Away With It.

An illustration that includes a photo of Kamala Harris supporters holding up letters that spell her first name.

By Kristen Soltis Anderson

Ms. Anderson, a contributing Opinion writer, is a Republican pollster and a moderator of Opinion’s series of focus groups.

If you’re a Kamala Harris supporter, you probably felt pretty good about last week. With Donald Trump’s constant bait-taking during the debate and the endorsement by Taylor Swift, with less than two months until Election Day, on the surface, things have started to look like they’re falling into place for a Harris win. On Friday, I was a guest on “Real Time With Bill Maher,” and Mr. Maher, who has never been one to underestimate Mr. Trump’s appeal, declared that he thinks it’s finally over politically for the former president.

On the show, I disagreed. I still don’t think any of us should feel confident that we know how this will go. Does Ms. Harris have fund-raising momentum? Yes . Did she win last week’s debate? According to post-debate polls, yes . Did Ms. Swift direct a lot of potential voters to research how to register, presumably to vote for Ms. Harris? Yes . Did J. Ann Selzer, the oracle of Iowa, just release a poll showing Mr. Trump ahead by only four points in the Hawkeye State? Yes . So why am I holding off on joining the “it’s over” chorus?

First, there’s not a lot of evidence that the debate helped Ms. Harris’s numbers in a meaningful way — at least not yet. ABC News/Ipsos polling showed her with a six-point lead among likely voters before the debate and showed the same result after. Her margin in several averages of national polls hovers around two points, a margin that makes the possibility of an Electoral College-popular vote split reasonably likely . (The analyst Nate Silver says the odds of such an outcome are around one in four .)

And if you look at the polling averages from a variety of different sources , in the seven battleground states that receive the greatest attention, the race is extremely close. Mr. Trump tends to hold a negligible lead in some of the Sun Belt tossup states, as Ms. Harris does in Wisconsin and Michigan. Neither candidate leads by more than two points in any of those states. Pennsylvania, the biggest prize of them all, consistently shows a difference in the tenths of a percentage point.

The reality is that the debate may have done more to fire up or reassure Ms. Harris’s existing supporters than to add new voters to her ranks in large numbers. While the ABC/Ipsos poll found that Ms. Harris’s supporters back her more strongly than Mr. Trump’s supporters back him, it also still found that nearly half (47 percent) of respondents think Ms. Harris is too liberal. It’s of course better to have your side more energized than your opponent’s, but an enthusiastic vote doesn’t count more than a begrudging one so long as they both turn out.

Maybe the vibes are a leading indicator and the polls will catch up in the coming days. Or maybe the polls are simply missing something happening on the ground that is not being captured in the data. Either way, while Ms. Harris may be slightly favored at this point, the emphasis remains heavy on the “slightly.”

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50 MBA Essays That Got Applicants Admitted To Harvard & Stanford

Advice Column: Insider Tips From Current MBA Students (Part 2)

The ‘Introduce Yourself’ MBA Essay

3 Reasons To Pursue An MBA In Europe Right Now

What You Need To Know To Get Into INSEAD & LBS

Business Insights

What Does It Take to Be a Successful Entrepreneur?

What Is an Entrepreneur?

Entrepreneurship Requirements

1. Key Entrepreneurship Qualities and Behaviors

2. Essential Entrepreneurial Skills

3. An Opportunity or Business Idea

4. Resources and Funding

Your Path to Becoming an Entrepreneur

About the Author

How to Write a Business Essay for Impactful Communication and Analysis

What Is a Business Essay

How to Write an Introduction for a Business Essay

Are You a Business Student with a Hectic Schedule?

Business Essay Introduction Example

How to Write a Business Essay

Analyze the Prompt

Think of a Thesis Statement

Create an Outline

Provide Topic Background

Write the Main Body

Write a Conclusion

Add a Bibliography

Edit and Proofread

Choose the Writing Format

Business Essay Example

Final Considerations

Writing Business Essays Doesn’t Work for You?

How Many Paragraphs Does a Business Essay Have?

Business Essay and the Best Way of Its Writing

Business Essay Format

Write Business Essay In 5 Steps

Business Essay Topics

How To Start A Business Essay

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