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Changing Mindset 6 mos ago

Reasons to Start a Business

Andy, having been completed his degree and masters, was able to get opportunities to work with the large companies. However, the level of discontent led him to start a business, which they run together with his wife. It is a common case among people that are employed, the position of employment notwithstanding, where they get the urge to start their businesses, even without having experience, no existing business model, and without adequate capital.

One of the drivers to starting a business is to get a job security. Initially, venturing into a business was considered a risky venture, with many individuals considering formal employment as a way of living a secure life. Currently, the traditional corporate are no longer offering this job security, with the risk shifting from the businesses to these establishments – an increasing number of people are considering working for themselves a more job secure venture. Moreover, most corporate are increasing becoming demanding of their employees, with many of them introducing performance contracts to make sure that their employees perform at the highest levels possible.

Starting a business gives an individual much freedom, where they are in a position to make their informed decisions without having to conform to established protocol where they are compelled to follow certain procedures. In private business, an entrepreneur is not compelled to consult, as long as he acts in a lawful and ethical manner. Besides, entrepreneurs are in a position to choose their working schedules, strategies, as well as those they will work with. Also, the entrepreneur could not be in a hard position where they are forced to choose between working and family, where they are in a position to organize them to suit into both responsibilities.

Starting a business, the entrepreneur has the opportunity of increasing the level of their income. When an individual starts their business, they get a bigger opportunity to increase their earnings compared to those that work in establishments owned by other people. When one establishes their own business, they give themselves a chance to write down their history, to come up with their success story, and they are in a position to write their personal paychecks. It means that they are in a position to determine how much they will earn at the end of the month although this needs to be supported by the earnings received from the business. It means that the entrepreneur will work hard and receive all the benefits from the business. While working with another individual, one works hard but only receives the salary and is not rewarded for any growth of the business.

Starting a business without prior experience, with no established business model, and with inadequate capital; leads to a situation where the individual is a crucial member of a team that has a lot of responsibilities. Owing to the nature of the business, there is a high chance that the entrepreneur has the largest set of skills, and they have to guide other employees. In some cases, the entrepreneur is the only person working for the new business. It means that the owner approaches situations in a unique manner, and also reasons very differently from others. In the business, most or all the major decisions are made by the entrepreneur, meaning that their level of responsibility is very high.

Entrepreneurs have the benefit of receiving tax perks, where the governments that are seeking to increase the amounts of investments introduce tax benefits to them. In formal employment, most people pay huge amounts in the form of taxes, while these are much less to some businesses. Moreover, other forms of benefits and incentives are received from their governments.

Lastly, the entrepreneur is instilled with different valuable hard works such as hard work, ownership, as well as self-sustainability. When one starts their business, more so from the basic levels, they learn to realize the need to work harder so that the business can meet its expectations. Most startup businesses require a high level of hard work, creativity, as well as tenacity. After creating a successful enterprise, the entrepreneur has full control of the business, and they are in a position to receive all the benefits from the business. Besides, they are in a position to teach other people to core aspects of business while offering innovative solutions to the society.

Reasons why Andy’s Parties Achieved Success

Although many startup businesses tend to fall out within the first three years, Andy’s Parties achieved great success over time. There are several reasons for their great success, with one of these being the form of organization that Andy and his wife decided to take up for their business. Although there are various forms of business, they could have opted for, Andy and his wife decided to venture into a partnership since it offered the two an opportunity to bring their resources together to create an enterprise with the vision of growing it further. In the basic levels of startup, a partnership worked best since they had shared responsibilities and did not have to pass through vigorous legislative procedures. However, with growth in business, they had to make it a corporation so that it could conduct large-scale businesses. With a corporation, the company was in a position to offer services to both small and large clients, since a company can easily get into agreements with individuals. Moreover, they were able to grow their business through franchising, something that was further facilitated by forming a company. Through franchising, Andy's Parties has been able to grow their brand, where the name is exposed to many people, and they receive additional income in the form of loyalties.

Having the right mindset is another important aspect that could have led to the great success that Andy and his wife realized. It is evident from the start of business, where they were looking for business opportunities that they could venture into. Without a plan, they could not have looked for the opportunities, rather could have jumped into the one that came up earliest. However, they took the time to plan for the best venture, and when this particular venture manifested itself, they made an enter plan, growth plan, as well as strategies to run their business. Subsequent decisions and ventures that they have been involved in have also been well planned, and this is the reason most of these were a success.

The couple had abundance in mindset, armed with an array of skills, big vision, as well as a positive attitude that they would succeed. When starting the business, Andy and his wife were ready to start small but had a very big vision for their business. Having been disappointed with his former place of work, Andy was looking for a business that he and his wife would venture in before they opted to start Andy's Parties with no prior experience and business model to follow. It shows that the two had a big vision, and believed in themselves and the business model they came up with to succeed in the industry. Once they had set up business, they managed to pass their mindset to their employees, who they trained on the core aspects of business operations to make sure that they provide quality services to their customers. Besides, the couple also managed to pass the mindset to their clients, who had a massive belief in the company to deliver quality products and services.

The last aspect that has increased the chance of success for the business is internet selling, where the company is in a position to market and sell their services to a wider range of people. Through the internet, the company is exposed to a larger group of clients than it is exposed when marketing through the traditional modes of marketing. For instance, social media marketing has enabled the company to realize immensely succeeds. Moreover, the costs of internet marketing are much lower than those incurred in traditional forms of marketing.

Andy and his Wife’s Plans

Most likely the company is looking at increasing their presence across the world. For many companies that have gained immense support locally, their main aim is to venture into the international markets. Similarly, Andy and his wife could be looking at entering the international markets and having a similarly large influence as they have had in the local market. Moreover, they will be able to offer handsome services to their clients, like organizing for tourist parties where they organize for the logistic, bookings, transfer, as well as parties in the major tourist attraction centers across the world. This will not only boost their business, but also boost travel, tourism, as well as inspire a new dimension of tourism that has not been experienced before. This could be a popular venture, especially among the young and outgoing party ethicists who would like to sample the various tourist attraction facilities and centers across the world in a party mood.

Having ventured into franchising, this could be a very strategic move to facilitate their entry into the international markets. Franchising is a strategy that many other businesses have used to increase their presence into the international markets, considering that is a much less costly venture than opening a branch. Equally, there is a much less risk when a company invests through franchising than when there is when it opens a branch. This is because the franchise has put in the largest amount of capital investment, with the franchiser's input mainly being regarding training.

Lastly, Andy and his wife could be looking towards doing more co-operate parties rather than the many private functions that they have been doing. More so, the company could appreciate if they are allowed to host government parties like during national celebrations. This venture would not only increase their revenue but is a very good marketing opportunity as they get exposed to a larger audience than hen hosting private parties. Besides, they would help improve the tainted image of parties, where a considerably large number of people have not viewed them as official events, and associate them with immoralities. Hosting more formal parties would be a step in the right direction.