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Essay / Research Paper Abstract
This 10-page paper discusses the growth of family businesses, and what entrepreneurs should do and consider to facilitate that growth. Bibliography lists 4 sources.
Page Count:
10 pages (~225 words per page)
File: AS43_MTfamentbu.doc
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Unformatted sample text from the term paper:
extolling the virtues of those who give up everything to launch their own business - the sacrifices that are made to get a business off the ground and the successes
that inevitably follow. Whats interesting, however, is that there isnt much said about the entrepreneur within a family business who has managed to get that entity beyond its rocky beginnings
and must now deal with issues of expansion to continue the success. There is a reason why, in fact, many entrepreneurs leave businesses after the start-up phase and go on
to start new businesses. The reason why is because the quality skills that an entrepreneur brings to a start-up business may not
be the same skills that can help him or her expand the business to the next level. Furthermore, there are challenges inherent in a family business that could also interfere
with its growth. The entrepreneur is known for independence and self-drive - but that independent streak could be a liability, rather than a benefit, in a growing company. Furthermore, family
businesses, by their very nature, can be contentious; all family members seem to have an opinion about how something should be run, or how a business should be operated.
As such, the question we need to ask here is whether the start-up entrepreneur can take that family owned business from the end
of the beginning and help it move forward. Our contention is that yes, the entrepreneur can, but only if that individual leaves his/her idealism about self-employment and family owned businesses
out of the equation. The Family Business Defined The idea of a family business brings to mind a mom-and-pop shop (a dry
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