How to Start Your Own Business

Topic: BusinessCompany
Sample donated:
Last updated: June 10, 2019

A word young man associate with: force, obstinacy, creativity and of course with fresh ideas for the future. Almost every young person has a purpose to have his own business, they want to be worthy in this big and cruel world. But it is not enough to have a dream or idea. Business is more difficult then we can imagine.

Mostly all young people like to dream, they are dreamers. But if they want to make their dream come true they have to be stubborn and very strong inside. Recently in accidentally I have read an article about one of the smartest businessman in Lithuania – Benas Gudelis and I was so admired of him.He is smart and he knows what he wants and how to reach it. First of all you have to feel if your idea has a meaning and is it viable. He says that every business is very specific. He thinks that the most important is to grow your business step bys step: business idea, the plan of your business, finding the resource for your business, policymaking, strategy, and control of your business.

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It sounds difficult and hard but it attracts. It is usual here in Lithuania to choose the easiest way but for me it is better to choose a harder way, to feel that you are really working and reaching your purpose.Business idea: the idea must be grown in your head for a long time till it materializes. It has to be something rare and something that people need it has to attract them.

Business plan making: when you start making a plan you will realize what problems and difficulties are waiting for you. So you have to be ready and make a strategy how to defeat them. It helps to protect you business.

Business plan is an entrepreneur program document it bases the business idea. Plan must be made for 3-5 years. Finding the resource: it is very difficult in our country.I have read a lot of articles and some literature and I have understood that our financial crisis doesn’t let us to create our business. At the moment it is vary unfavorable time.

But if we forget this unfavorable time, investment for the business could be own accumulative or borrowed capital. Your own capital helps you to be independent and stability. But in Lithuania it is very usual to take a loan from a bank or get an European support. The loan from a bank could be a long or short lease it depends on you and your plans. A short loan is necessary for company’s everyday expense and a long is needed for long-term circulating assets.It doesn’t matter if your business today is going well, you should always control it.

To have your own business has advantages and some disadvantages. It is great to be independent, to realize your dream or purpose, express your self in your sphere, to earn big money, to support your family. But being in business world means to confront with a lot of competitors, you have to invest big money, to feel stress because it is not easy to control small or big company, you must be smart and flexible in every situation. But if you really know that it is your life purpose to have your own business, then all the hard work for you is just a pleasure.

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