August 3, 2021

Coin Tastic

Business Managements for you

Social Entrepreneurs Vs Business Entrepreneurs (The Similarities And Differences)

In any business whether local or global, physically existing or online there is one very...

In any business whether local or global, physically existing or online there is one very important aspect to consider without which it’s not possible to have a long lasting business. Life as a woman entrepreneur is not an easy option. There are myriad factors and areas which need to be addressed when entering into entrepreneurship, beginning from conceiving the idea of business, establishing it and then finally operating it successfully. There could be many reasons of attracting women to entrepreneurship. Some have the urge to be independent. They want to switch over to roles where the discretion of decision making vests with them. Power and authority are strong drives to attract women into this role. Many look forward to switching to this option as this gives them the flexibility of work when compared to their existing employment. This in turn allows them to balance their lives. Some may like this option as this gives them a direct recognition. When compared to contributions in service sectors where individual recognition is practically not possible, and entrepreneurship gives them a chance to enjoy the limelight.

Marginalized people such as the poor ones, indigenous peoples, and those who belong to at-risk groups in the society need help. But what they do not need is the unthinking pity that most people give them. Instead of just giving them coins in the streets, they should be empowered to make something meaningful for their lives. Social business management makes that possible. You should also put together a timeline, so your potential investors have an idea of what to expect. Some customers may not pay for 30 days or longer, which means the business needs a cash balance to operate. In spite of the above, we believe that the independent broker will survive. We are more automated than most service industries. We are close to the customer, regardless of some insurance companies’ attempts to sever the traditional broker-client relationship. Our clients, in most cases, still do not care or know which company we place them with. They trust our judgement in selecting the proper coverage and company to place them in.

In the beginning of this article, I had stated that the concept proposed by Levitt in 1975 is not only relevant today and will become increasingly more relevant in the future. We are all aware that fast changing technology is bringing about a discontinuous change, that is, change which has no connection to the past. As such, in the future where the competition will come from, one does not know. Emails made fax machines obsolete. Mobile phones are making landlines obsolete. You can watch movies on demand on your TV or mobile phone. Where technology will take us, we do not know. As such, I believe that it will become increasingly more and more important that you define your business in a broad manner based on the benefit that your products of services provide to the end consumer. Exactly, what Levitt suggested in 1975.