But some people are brave enough to consider this kind of uncertainties. And look at them now. They are one of the best entrepreneurs in the field of business. They are the one that we can say that are financially stable.

But before they reach this stability in life, they passed through different obstacles and hardships. And they used different strategies and they maximize their resources and skills in order to come up to a successful stage of living.

These kinds of people are full of determination and very optimistic. They always find hope even in the most difficult period of achieving their goals and dreams. They are like conquerors of fears. And they really work hard and give their best to it.

It was just an introduction of the characteristics of a successful business entrepreneur. That in order to be successful entrepreneurs, values and ideals is also important. I just want to emphasize that many components are needed to be like this people.

Now let as add the concept of demand and supply on how to sell goods or products to the market. As the supply goes up, the demand goes down. As the supply goes down, the demand goes up. And when the demand goes up, supply must go up and when the demand goes down, supply must also goes down in order to attain equilibrium.

In selling products, we should know this concept. If we know that the products we are selling have a very high demand, absolutely we need to increase the production of the goods we are selling. And if the products we are selling have a very low demand, the thing we need to do is to limit the production to avoid over reproduction of goods.

Income also affects the rate of sale of an entrepreneur. For example, you have a product which cost is 500pesos. And the buyer got only 400pesos on her budget. The tendency is that the buyer cannot buy this thing. And this product will be left at the store. This will affect both the buyer and the seller. The seller will not have any profit and the buyer cannot utilize or use this product. And if this situation continues, the seller will lower its price because he have no more choice but to lower it until some buyer afford to buy it. This will lessen the profit of the seller. Many stores have this what you call “SALE”, because this products have low demand or some buyers could not afford to buy some of its products. That’s why they have to do it.  

Having this knowledge about the concepts and other things that should be consider in engaging to a business, we enable to avoid such failures that may cause the fall down of our business. Though knowledge was just a component, I can say that it is one of the vital components that an entrepreneur or a business man should have.

 

 

Thank You...(",)