Full Sentence Outline

Full Sentence Outline

Starting a company calls for adequate research on business prospects and potential benefits in the long-run. People that have entrepreneurship aspirations ought to weigh the available options carefully and consider their qualifications (Dine, 2014). In this regard, it is necessary for the aspiring start-up leaders to be smart to guarantee success. Besides, they should be aware of the different phases that the business will undergo during its early years. There are several important parts to a business, though other parts can appear to be random floating appendages on a hypothetic company torso. However, each part is strongly connected to the other, hence a need for a quick-witted entrepreneur. A careful and adequate understanding of such subtle connections makes the difference between excellent start-ups and firms that fails within three years after conception. In light of this, it is arguable that to start a business entity, a person needs to be highly qualified and intelligent.

It is easy for intelligent people to make well-informed and rational decisions based on facts (BradBerry, 2015). Before starting a company, smart entrepreneurs gather business data from various sources and compare them prior to making decisions. In the business world, there is a fierce competition in the use of technology and customer service. It takes an intelligent entrepreneur to understand the market demands and deliver them accordingly. Innovation is fundamental for a company to evolve into a brand. Therefore, smart people come in handy because they possess creative and useful ideas to boost business performance. The argument is also strengthened by a recent research indicate a strong correlation success and emotional intelligence.

Nearly all the successful entrepreneurs today possess exceptional skills and brilliance. For example, Steve Job’s intuitiveness resulted in the success of Apple Company, a leading tech firm in the manufacture of smart phones and tablets. Similarly, Bill Gates was one of the most talented computer programmers of his time. As a smart young college dropout, he oversaw the formation of Microsoft to meet the rising demands of personal computer software. Walt Disney, on the other hand, is a celebrated pioneer technopreneur in film production. At the time of boom in motion picture industry, a smart Disney saw limitless opportunities in the film industry (Barrier, 2007). History credits him for introducing animations, hence the conception of Walt Disney Company.

Like any other profession, starting a company is a challenging undertaking that demands intelligence. The planning process alone is tedious and time-consuming, hence the need for a higher brain power (Oros, 2015). In the early stages, an entrepreneur should look for reliable sources of funding for the business. If he fails, the business cannot take off successfully (Patel, 2015). Secondly, the entrepreneur must extensively analyze the business environment where the start-up will be set up. Potential market shocks and macroeconomic challenges ought to be assessed exhaustively (Lloyd, 1992). In this way, the business owner can formulate risk mitigation strategies. Lastly, the owner of the company should have an advanced understanding of business-related theories and frameworks to be applied.

There is a misconception that smart individuals think so much that they miss out on great opportunities (Jensen, 2012; Willis, 2002). However, such an argument is easily dismissible because research shows that intelligent people are more likely to seize the best opportunities as compared to individuals of average intelligence. Undeniably, entrepreneurs like Bill Gates and Steve Jobs are drop-outs, but they found it easier to attain a sustainable success. While specialized firms exist to offer advisory services, smart entrepreneurs save money and start a business entity themselves.

In summary, it is clear that the aspiring entrepreneurs should be witty for better chances of success of their start-ups. Passion alone is not enough to guarantee business survival during the first three years. Challenges often arise from limited funding and firm’s inability to attract a wider market. However, if the owner of a company is smart, he will devise creative ways to fund business operations (Berry et al., 1997). Additionally, smart people make informed and rational decisions that are useful in combating surging levels of competition. Despite the fact that most successful entrepreneurs such as Bill Gates and Walt Disney had higher intelligence quotient, more research should be conducted to prove the existence of a relationship between success and intelligence in the business world.

References

Barrier, J. M. (2007). The Animated Man: A life of Walt Disney. University of California Press.

Berry, L. L., Seiders, K., & Greshman, L. G. (1997). For Love and Money: The Common Traits of Successful Retailers. Organizational Dynamics, 26(2), 7-23.

BradBerry, T. (2015). Why You Need Emotional Intelligence To Succeed. Retrieved from http://www.forbes.com/sites/travisbradberry/2015/01/07/why-you-need-emotional-intelligence-to-succeed/#405fd5272c74

Dine, J. (1998). Starting a Company. In Company Law (pp. 9-19). Macmillan Education UK.

Jensen, K. (2012). Intelligence Is Overrated: What You Really Need To Succeed. Retrieved from http://www.forbes.com/sites/keldjensen/2012/04/12/intelligence-is-overrated-what-you-really-need-to-succeed/#5ead07296375

Lloyd, B. (1992). Practical Business Genius: 50 Smart Questions Successful Businesspeople Ask/Why Entrepreneurs Fail: Avoid the 20 Fatal Pitfalls of Running Your Business/The Barlow Clowes Affair… (Book Review). Long Range Planning, 25(6), 121.

Oros, B. (2015). Ben Franklin's Scientific Program for Prosperity and Self Improvement. Retrieved June 26, 2016, from https://books.google.com/books?id=JrgnCQAAQBAJ&dq=self improvement in business owners&source=gbs_navlinks_s

Patel, N. (2015). 90% Of Startups Fail: Here's What You Need To Know About The 10%. Retrieved from http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/#5ca940ba55e1

Willis, H. (2002). The Curser of the Superior Intellect. IIE Solutions, 34(10), 22.