Throughout my life I have been exposed to entrepreneurship because my parents own a small business. They are physical and occupational therapists who own a construction company that modifies homes for people with disabilities. They install a lot of stairlifts and ramps, and they also make bathrooms that are handicap assessable. Having parents as entrepreneurs has allowed me to see the benefits and disadvantages of running your own company. You can be your own boss, make the changes you think are necessary, set your own company goals, and overall make more money than if you were just an employee. However, being an entrepreneur has its down sides. It is a lot of risk, since anything that goes wrong is ultimately blamed on you. For example, if an employee is not being respectful, it might not be your fault but you as the boss take the blame and the company can be affected. You also do not have the safety of a consistent income. An employee can make a salary, when an owner needs to work hard and find new customers in order to make a living. One last downside of running your own company is that it is hard to take a mental break from work because you are worried about so many things. For example, my dad gets calls at all hours when one of his stairlifts is not working. He then has to find a way to fix the problem so his customer can get up the stairs safely. An employee does not have to worry about these problems. Overall, I believe the positives of being an entrepreneur far outweigh the negatives, however, when you become an entrepreneur you have to be aware of the risks you are taking.
I took this class because I want to run my own dental practice when I am older. I actually just got accepted into dental school on Monday. In this class I hope to learn skills that will help me think of creative ideas for my dental practice and find ways to market well to my target customers. I have always been interested in entrepreneurship and I believe this class will help me understand the field a lot better.
Hi Eric,
ReplyDeleteCongratulations on getting accepted in Dentistry school! It is interesting that your Dad is the first to receive the calls regarding any incompetences rather than a manager or supervisor. Also I agree with you regarding entrepreneurs not being able to take mental breaks and separate work from home, that takes a strong individual and a lot of trust within one's team to do such a thing.