Today I learned the benefits and negatives of the type of business you decide to run your business around. At the forefront, we see that sole proprietorships offer you the ability to operate your business as an individual with full control and individuality whereas, a corporation is operated by a group of individuals rather than a singular entity like a sole proprietorship. From my perspective, the best business option for your company is completely dependent on how your company is at its time of establishment. Hypothetically speaking, if you buy a team with a group of people then you will conduct it as a corporation.
Today I dove deeper into the space of being and conducting myself as an Entrepreneur. As an Entrepreneur, it's vital that you establish a pathway as to which you want to develop and improve your business. At the forefront, you want to find your niche that you wish to put your best foot forward. If your company is for selling a new genre of music then your aim is going to be to sign musicians/ artists who are already established to help advertise your company and also to make it attractive to upcoming artists/sponsors alike. Above all, it is important to have a clear plan, a company with no true pathway is just a placeholder in free fall.
I learned the ins and outs to successfully running a starter company successfully. Foremost, it's important to have a vision and plan as to how your business will come to fruition. Likewise, it's important that you pay attention to analytics.
Today I learned how to carry myself professionally within a business setting with like-minded people. Foremost, it's important that I present myself in a neat and professional manner in which I am attentive to those I interact with throughout the duration of the experience. Likewise, it is important for me to dress the part, if they ask me to dress business casual as that is the company brand then that is what I should dress as, nothing more or nothing less. Moving on, when faced with the prospect of getting a mentor, its imperative that I push myself as an individual to perform up to the standards of myself rather than depending on that possible mentor for everything.
Throughout the duration of today, I learned how to save 100% of my annual income through the implementation of several strategies that have been proven to be highly efficient. Foremost, it's important that we actively look to take the cheaper and safer option when it comes to purchasing. For example, when purchasing cars we tend to prioritize looks and glamour over value. In reality, a pre-owned car offers future opportunities to both get paid and recover a higher volume of our funds spent acquiring that car in the process. Likewise, when buying shoes, we look for the name brand when in reality quality is a better bang for the buck that will last us in the long run.