Bus Week 3 Essay

From Rags to Riches

Bryan Holland

American Military University

From Rags to Riches

The freedom allowed from owning a successful and self-functioning business is something many desire, but few are willing to work toward. As rising populations increase, so do the demand for products and services to vary in nature. It’s impossible to produce a valuable product without putting in the necessary effort to separate yourself from the pack. The difference in desire and drive can be put into a four stage growth rationale.

“In a one-person operation, the owner does everything: sales, bookkeeping, marketing, production and so on. Many firms remain one-person operations indefinitely due to the owner's family obligations, financial constraints, or contentment with the status quo.”

(McCubbrey, 2009). When first starting a business without a partner, it’s obvious that the sole entity of such an organization starts and ends with the owner. Barring unforeseen circumstances, the success depends solely on the willingness and abilities of the ‘President/CEO/Chairman of the Board’. We can imagine a person working diligently in their garage/home-office into the wee hours plugging away. Success attracts company, which can eventually turn into an official small business.

“As more people join an organization, the business owner becomes a player-coach. The entrepreneur continues to perform day-to-day tasks, but along with other employees.

So the owner assumes additional employee management duties such as hiring, scheduling, supervising, and payroll.” (McCubbrey, 2009). Once the demand outweighs the capabilities of a single individual, the next logical step is to hire additional people to assist; or beg a family member. Maintaining a high level of motivation and determination is of paramount importance at this stage in order to continue drive pursuant to those around you.

If your tutelage works out and you find the same passion and drive in one...