Though the statistics showed that half of all the new businesses in America fail within one year, and that 80 percent do not survive beyond five years I still wanted to open my own business. I believe that owning my own business meant the American dream, it meant I was able to be my own boss. I would not have to accept conditions of someone else are choosing, and I could create my own work schedule. I learned how to run a business, dealing with management, leading, legal (i.e. taxes, wages) and loans from banks. .
I new from a very early age that I wanted to own my own business. When it came time to open my own business, I used the approach as an already established business. I based my decision and did an analysis of the market. I found that the market could use another sandwich shop. Enclosed are copies of my financial plan, which consisted of my present financial condition. An Income Statement, a Daily Cash Sheet, and a John's Submarine Sandwich T-shirt we wore as a uniform. .
I certify that this essay is written in my own words and reflects my knowledge gained from experience and supported, when appropriate, by properly cited research materials.
"It is well known that half of all the new businesses in America fail within one year, and .
that 80 percent do not survive beyond five years"(Fritz, 1987, p. 4). Given this statistic, why .
would I want to start my own business instead of working for someone else? I believe that .
owning my own business is the American dream. Owning my own business meant I was able to .
be my own boss, I would not have to accept conditions of someone else's choosing, and I could .
create my own work schedule. As Fritz (1984) reports, "being the boss allows you more .
independence and more control over your own destiny" (p. 4). Whether or not my business failed .
or succeeded, the business was my responsibility and I believed there is a certain satisfaction in .
knowing I owned a business and it profited.