How Many People Have You Known Who Established an SME

question 88

Essay

How many people have you known who established an SME because he/she wanted to "be his/her own boss?" How many of them actually worked more hours and had less vacation time than if they worked for someone else? How many had to make sacrifices for at least the first few years in terms of income and time with their family as compared to what their situation would likely have been otherwise? What appears to have motivated them? If you have not known anyone like that, what do you think would drive otherwise rational people to "become their own boss?"

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Definitions:

Lowball Technique

A persuasion strategy by which an offer is initially made attractive, but less favorable terms are introduced after commitment is obtained.

Centralised Communication

A form of communication in which all decisions and discussions flow through a central point or leader, common in hierarchical organizations.

Group Pressure

The influence exerted by a group on its members to conform to the group's norms and expectations, often affecting behavior and decision-making.

Personality

The combination of emotions, attitudes, and behaviors that makes a person unique.