I’m finally back after the relaxing midterm break for around 2 weeks. We started our first week by converting the magazine article that we’ve written to the computer. This week is still related to the material from before midterm test. Below is the 600-900 words magazine article that I’ve been working on since week 8, and it is titled “Small Change”.
Starting a new business can lead to personal and financial benefits or rewards in the future. Don’t you want to be a successful business owner? In order to achieve that, you need to have the courage to accept the challenges in a business. Most challenges usually came from the number of money need to run the business, but with some careful business plan, it can help you to secure finance, prioritize your efforts and evaluate opportunities.
Since I was young, I have a dream to own a cupcake business in Australia. Back in 2010, when I quit from my workplace, I thought that was the perfect time to start up my own up cake business because I felt like I had saved a lot of money for the business. I felt very happy, excited, and thrilled during the first time I officially run my own cupcake business because I am finally living the dream until now. I could feel a lot of personal advantages such as freedom because you are not being told what to do. The enthusiastic yet happy feeling we very time I get down to the field, even though there are still challenges that needed to be anticipated.
We all know that being an entrepreneur is not easy. When you’re starting a new business, it can feel like you are sinking into a pit with 1000 heavyweights piled on top of you. There are numbers of risk and rewards to consider before becoming a full-time entrepreneur. Knowing what is important for you will help you choose the right time to make the leap. Becoming an entrepreneur requires tough planning and persistence.
An excessively hard work and a little luck are needed for a good measure. The only way to know when to make the leap to full-time is to understand the balance of risks and rewards.
Small business represents around 97 percent of all business in Western Australia. I had to compete with famous cupcake shops such as The Classic Cupcake Co, The Cupcake Bakery, and The Cupcake Queens. In order for us entrepreneur to keep up with the competition, we first need to have an excellent quality and taste of the product. Besides excellent product quality, we need to have a good appearance in employees and the place to run the business itself to increase the interest of customers.
The risk of becoming a full-time entrepreneur can be great, but so can the rewards. Some people make the leap of faith simply on the vision of those potential rewards. By being a small business owner, you have the control to choose the work you like to do, you consider your work highly enjoyable because every day is filled with new opportunities to challenge your abilities, skills, and determination. As an entrepreneur, your income is directly related to your efforts in running your business. “Nobody talks about entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science; it’s about trading: buying and selling.” -Anita Roddick, the founder of The Body Shop.
Besides giving benefits to its owner, it also gives rewards to their employees and customer starting from the smallest thing. When the products are sold out, the employees will gain enthusiasts in working because there will be a chance that the salary of the employees will also increase as the business grows. The small business itself can benefit the customers because they mostly give feedback, ideas, and advice that will benefit themselves in getting a better quality of the products.
A cupcake business offered. Slow risk business that can be run from home, a gourmet treat that continues to grow in popularity, and cupcakes is easy to cross promote and tap into local markets or large events. Since the business is sweets, the business owner of myself, needs to have at least one skilled chef and draw attention to suppliers. It is usually easier for a small bakery to offer sweets with higher profit margins.
If you want to be a successful business owner you need to work, work, and work. Just like what Eleanor Roosevelt, “You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.”