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"The superior man understands what is right; the inferior man understands what will sell" (Confucius). In the modern life, the needs of people become higher and more complicated. As a result, a lot of businesses were built to fill up with these requirements and entrepreneur is one that takes the responsibilities for the processes as providing services or producing products of the business due to the needs and orders from their customers. In order to become an entrepreneur, money is one of the most important factors that can support your business, but it not enough.
Based on the fact that there are many people become successful with their business, which was started with only little amount of money this essay will provides an critical discussion about the influences of this aspect in business, as the return and loss within it. Other supporting analyses include the theories and concepts about the other aspects that any entrepreneurs need to observed. According to experts, there are four main point, these are - adaptability, flexibility, innovation, well as the spirit. Furthermore, the general perceptions relative to this position also clarified below - in particular, comparative performances in this position from the market's control as well as the evaluations.
II. CRITICAL DICUSSION
In my own view, "money" can be seen as an enigmatic and intricate issue which can affect the human behaviour in either ways of good or bad. The influences of this aspect in social life of individual depend on the ways they engage trade with other. Nowadays, due to the appearance of globalization which is becoming the World's trend, there is a growing concern about the money's flow and its impacts on entrepreneurs and their businesses.
As a rule, every business is started with an amount of money whether it in term of cash or liabilities, which will be used to set up the foundation as the payment for the locations, transportations, materials and the equipment. At this stage, the entrepreneurs are going to decide the qualities of the factors that they purchase; as well the sum of money availability for this. Generally, the capital which used for these expenses often affects a lot in the evaluating process of the organization in a period of time - because of that, the greater amount of expenses, the organization's developing chances often greater. Couple with this, the settling of the monthly's liquidities as the electricity, water, rental and the salaries for the workers â€¦ are needed to be due in the right time because these issues are provided by the suppliers.
So, is a person who has much money can become an entrepreneur?
Generally, the term "money" in real life is described as a component which has stiff movements and its value in business is controlled by the needs of the surrounding environment. However, for the most part in business, this aspect can be seen as an effective tool which helps the leader to settle nearly all the visible issues among the developing process of the organization.
On other hand, also because of those effectiveness and conveniences; from an inanimate object, money openly becomes one of the aspects that always been used and depended by the entrepreneurs to solve problems and evaluate their organization without considering about its harmfulness. As the result, these practices will lead to many serious issues as the corruptions, embezzlements and other unethical practices. To avoid these issues, the entrepreneurs have to aware that they are the leader of many people and the head of their organization, who need to "know the way, goes the way, and show the way" (John C. Maxwell, n.d). Besides that, in accordance with the working conditions, entrepreneurs is the one always have to deal with the situations when related to money whether directly or indirectly. For this reason, the chances to get affected by the extraordinary power of this aspect go even higher. In other words, the entrepreneurs always need to be alert to identity and estimate the current situation and protect them self from being dictated; they need to know that even "money' is a required characteristic to start the business, but the leader's mission is to open the ways to maintain and increase the volume of this aspect.
In short, at the beginning, money is a necessary component to help the entrepreneur built their business's foundation but along the developing and evaluation process to make their business plan become successful, the entrepreneurs need to have other aspect to support their business idea.
III. CRITICAL USE
"The most important thing in communication is to hear what isn't being said" (Peter F. Drucker, n.d). Entrepreneur is the one who has the ability to figure out the invisible aspects by listens to the communities and carry out the appropriate practices. In other word, for the purpose of being competitive with other in the market, the entrepreneurs need to observe many things from the environment; according to the experts, even how much money the entrepreneurs have in hand, their business still cannot survive if they do not know how to manage it. There are four points which consider as the most valuable to the entrepreneurs: adaptabilities, flexibilities, innovation, and spirit.
First, living in the world that everything can happen and the only thing people can do is keep trying to get along, so does the organization. There are many risks that the entrepreneurs have to due with when they decide to start a business, and adaptability is consider as one of the most fearlessness characteristic which can estimate the surviving's ability of the organization.
Being the founder of the organization, the entrepreneurs must face with the reality that the possibility to know whether their purpose of starting the business can or can't be reliable is zero. During the idea developing's process, there is a highly chance when the entrepreneurs meet a situation to help them figure out that their idea is not that good or there might be other better ways - this is where the entrepreneurs need to think fast, quickly change their plan based on the need and requirement of the market. The decision of the entrepreneurs will challenge their "adaptability" characteristic.
Second, when the entrepreneurs start to develop the business, there often appears many problems when the plan going wrongly and everything become a mess. To solve this, they may need to switch the gears and manage their changing plan - this characteristic is known as "flexibility".
Consider as a way to protect the "adaptability plan", flexible entrepreneur is one who can manages the problem, and bring the organization back to the balance condition by being flexible with the negotiation as being professional, not urge or impatient; along with the pricing strategies as being fixable price which deserve with the company's value; as well the product options as being open and flexible with the processes (ex: time and deadline). Most importantly, the entrepreneurs have to observe the comments, advice and train their self the way to admit the failures and learn from them.
"There's a way to do it better-find it." (Thomas Edison). In business environment, the thing that makes your performance become competitive compare to other is the innovation.
Innovation can be descried as the most valuable resources of human's mind. Innovative leader is a creativity leader who has the architect mind to see the panorama picture of the organization's development process. There will be no doubt to say that innovation is the success's key for all the companies in the World; this characteristic requires the entrepreneurs to have an open-minded thinking which always ready to listen, see, observe and make changes to due the market's need and control it.
However, as a valuable action which can push the company's profit to the limit, innovation also can bring back many problems because it prefers to things which completely different from other - because of this, entrepreneurs need to have the optimistic view and not being afraid to fail. Furthermore, if the leaders keep repeating the same thing or refuse to change, their business will never stand out and achieved the comparative performances compare to other business.
Next, although running a business is a work for the entrepreneurs but to maintain and evaluate it effectively, the leaders need to put their heart into every single mission that they attain in.
Entrepreneurs is the one who willing to takes the responsibility for every problems happened to the organization and staffs who work under them, so they need to be really careful with the decisions that they make to avoid the risk-taking. To do this, besides the strategies, this job also requires a lot of effort, energy, and hardworking. For this reason, if the entrepreneur do not has the working's spirit, which can be consider as the basic perceptions for this type of job, they may not satisfied with the result received.
Overall, to develop the organization and raise the profit effectively, entrepreneur need to continuously learning the new things from the sociality. Otherwise, even if they have a million tons of money in their hand, the failure still go on until they know how to manage the expenses.
In business, as the foundation component, the relationship between money and entrepreneur are very close. Because of this, although there are many benefits that the entrepreneur can receive from this aspect, but to ivoid the deep affection from it, the leaders may need to consider carefully when using this component. Couple with this, the erepreneurs also need to be adaptability enough to update the new trends, flexibility enough to solve the unexpected problems, being innovative to make their organization's performance become competitive, as well the spirit to complete the work effectively. Furthermore, an effective and respectful entrepreneur is the one who has the ability to use the "money" aspect to hire another person to help him/her manage other supporting aspects.