Are you in Business or in Busyness?

Sylvia Anyaka Written by Sylvia Anyaka · 1 min read >

Business can be defined as an activity or commercial activity that an individual engages in, it could be a profit or non-profitable business depending on the reasons of the business owner for going into the business, People also go into business in other to make money and use it as a means of living .A business can also be engaged in production, distribution of goods and services doesn’t have to be just buying and selling. The major driver of most businesses is profiting, most entrepreneurs and business owners want to make profit in the long time or short term when investing their money in a particular business.

Reasons why people go into business?

Firstly, people go into business to make money and earn a living, which would enable them to achieve their daily needs as individuals.

Secondly most individuals engage in business in other to make and impact in the society, by the creating jobs for the unemployed in the society.

Thirdly business owners go into business to provide scarce goods for consumers consumption, business owners will hereby be creating availability for scarce resources.

What is Busyness?

Busyness is said to be a situation whereby an individual is given is working hard and given its attention to a particular thing but not getting any result for it, most business owners get caught up in this situation whereby they are found to be busy all day, but no profit or impact has been made during the business.

Most Entrepreneurs tend to just engage in activities that keep them occupied most of them do not analyze their business or have a decision-making plan or mindset when trying to make critical decisions in their business.

Every successful business owner should have effective knowledge of his business and understanding the important elements of a business e.g., Human resource department making sure that he has an effective HR system while running in his business is effective and ensuring  his employees welfare are been taken care of, due to the fact  that the human resource department is a very important department in every organization, Employers and business owners should also ensure they run a performance evaluation  on their employees to avoid employees engaging in busyness and reducing productivity in the business.

Entrepreneurs should have good financial record of their business to avoid been busy in business and not been profitable, business owners should have effective knowledge on how the operating cycle of their business is been operated and how effective it is. Every business owner should be able to identify if their business is operating on a busyness level or a business level. Busyness could lead to e.g.  Bankruptcy, low turnover, and dissatisfied customers and all this negative factor could lead to the end of the life cycle of a business. Every business should ensure reduction of expenses and liability, Business owners should be able to control assets effectively also to avoid busyness and have a growing business.

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