Posts Tagged ‘Entrepreneurship’

The Power of Entrepreneurship

July 3rd, 2010

Creating a successful business is about more than financial achievement; it’s more about the satisfaction of creating a service or a product.  It’s about taking something that didn’t exist before and making it become reality.  It’s about the sheer enjoyment of focusing on a vision and enjoying the risks and possibilities that come from creating a business through entrepreneurship.  More and more Americans are leaving the corporate environment and becoming their own bosses.  Some enter the realm of business ownership as a result of a downsizing, others as a result of a mid life crisis.  Whatever the reason, the growth of small, privately owned business across the nation is at record levels.  The bottom line is we live in a country that allows us realize our dreams, both professionally and personally, if we work hard.  

Your passions will help you to create a business you understand.  That’s very important – do something you appreciate – something you enjoy.  Do what you know.  Do what you like.  Success is never a foregone conclusion, but if you do something you identify with, you’re more likely to realize positive results.  Remember, an entrepreneurial attitude is just as important to a firmly established company as it is to a start-up.  If you can maintain the “start-up” approach to building the business, you foster a mentality of accomplishment throughout the organization, no matter what its age or its size.  But never forget – entrepreneurship is difficult. 

Your attitude can make all the difference.  There are always challenges and you should focus on opportunities rather than problems.  Make the customer number one and strive for high productivity.  If you have employees, make sure you set the pace and the example and foster an attitude that creates an “ownership” process throughout the company.  Don’t ever stop taking reasonable and evaluated risks.  Communicate your vision with employees and customers and keep it simple.  

Don’t be misled; there is a lot of information to learn.  Business owners need to develop working relationships with a variety of individuals including customers, wholesalers, dealers, staff, bankers and other professionals such as lawyers, accountants and other specialized professionals.  Entrepreneurs must make important decisions daily, often at a moment’s notice and most times, under pressure.  Owning a business can be very challenging but remember it’s going to take a lot of hard work and long hours.  Get to know your strengths and your weaknesses and then adjust to make sure that success becomes more likely.  Entrepreneurship isn’t always as attractive and glamorous as some pundits may portray. Ask someone who’s done it. If you start your own business, life as you know it will never be the same.  It might be better than expected, then again, it just could be worse than you could ever imagine; but it will definitely be different from anything you’ve ever done.  

If you decide to make a go of it, follow your heart, your passions, and learn all you can about your business and your customer base.  Perhaps your company will be the next one that is included in the Forbes Celebrity 100 as a global billion dollar a year power player.  Keep pushing forward and never give up. 

Entrepreneurship = Innovation = Growth

July 1st, 2010

Entrepreneurship = Innovation = Growth

To define entrepreneurship, we can say that appropriate resources are gathered to achieve a goal. The goals involve certain risks. These risks can affect an entrepreneurs’ wealth and time. The ventures could be focussed towards many different outcomes. These ventures may support philanthropic ideas, environmental initiatives, profit, etc. Examples of entrepreneurship could be starting up a company like Microsoft, or a charity organization. An entrepreneur brings a new product or service to our economy. This means that a new idea or innovation is created.

Innovation determines there are new ways of creating value for consumers. Entrepreneurs strive to impress investors for support on new business ideas, these business ideas aim to add value for consumers. When there is innovation, we find new ways to improve the lifestyle of regular people. Consumers have better options to improve the quality of their lives. The same way Thomas Edison introduced the light bulb, we have entrepreneurs pitching ideas. Entrepreneurs in business want to keep doing this, simply because its the path towards starting out a company. By starting a business, growth and profits can eventually be established. This leads to a successful venture.

A successful business facilitates the internal and external environment. Not only is the company a great source for creating new jobs, consumers and contracting companies find use in the product provided. In other words, better efficiency is created in different places that support the product. This contributes to the gross domestic product (GDP). The GDP shows improvement in goods and services domestically. This is a good indicator of how well the economy is doing. When there is an increased GDP, the economy is doing well. In this case, there are better employment rates and citizens are happy with results. Innovation also helps trade, businesses may send their products out overseas or branch out globally. This is great for building relations with economies from other countries.

Since entrepreneurs contribute towards innovation, they are needed in the domestic system. The entrepreneurial lifestyle should be supported by the general public and the government. To have many entrepreneurs means potential for new ideas, products and services. It means potential for new business start-ups and business engagement. Entrepreneurship should be continuously funded by the government. By funding entrepreneurship, we are investing in future improvement and technological growth. In other words, globalization exists through entrepreneurial activity. Entrepreneurs lead a difficult task of gathering resources to fulfill a purpose. They not only have to find financial support, there is also the hard work needed in creating a business plan and making the appropriate decisions. Nowadays, entrepreneurs need to be persistent and stay focussed towards their goals. Most ventures don’t succeed, which is why its common for entrepreneurs to try many different ideas. It is important for entrepreneurs to receive all kinds of support during these rough patches. Our economy needs it.

 

 

Written by Basim MIrza

 

Wikipedia. Entrepreneurship. [6st September 2009].http://walmartstores.com/FactsNews/NewsRoom/8437.aspx

 

Entrepreneurship. Resource Center. [6th September 2009].http://www.entrepreneurship.org/ResourcesCenter/

 

Innovate on purpose. Invention, innovation and entrepreneurs. [6th September 2009]. http://innovateonpurpose.blogspot.com/2006/10/invention-innovation-and-entrepreneurs.html

 

You Need to Develop the Spirit of Entrepreneurship to Succeed in Business

June 23rd, 2010

(c) Copyright Bayo Bamitale 2006

Many of us are interested in starting home-based businesses or quitting our full-time jobs. There is a marked difference between the psychology of the worker and that of the entrepreneur but the great flicker of hope is that the entrepreneurial consciousness could be developed. If you are tired of your day-time job and have been thinking of leaving your job and striking out on your own, you need to think about this properly. It is necessary to examine yourself and ask whether you have what it takes to be an entrepreneur; and if you don’t to go ahead and start the process of developing that consciousness. This article itemises some of the characteristics of an entrepreneur as well as the method by which those characteristics could be developed.

First, be clear about why you are starting business. Why become an entrepreneur? There are various reasons that one may consider in striking to become an entrepreneur and starting one’s own business. Some strike out because they hate their bosses, some because they hate their jobs, some because they hate poverty and some because they hate commuting. Becoming an entrepreneur because you hate something may not be the right attitude. It is better to strive to start your own business because you love something. When the chips are down, you will need the energy of love to sustain you in the days of adversity. It is your love of business or entrepreneurship which will keep you going when partners desert you, or a project fails, or the tax-man comes with harassment, or you face other negative circumstances. So the first thing to do is to first settle all the hatreds and rather replace them with the love of something this is done at the level of attitude. Your attitude to business will determine your altitude in success.

Second, don’t go into business tabular rasa like a clean slate. You need to develop yourself along the business line. You need to learn some accounting skills, some law, some technology and some philosophy to be a good business-person. A good way to start is to join a network marketing system. When you join, don’t join because of the money although you can make a whole lot of money from this business but don’t make that your focus. Go with the intention of learning, especially learning to sell. To succeed in business, you need to know how to sell. You will need to sell your business ideas to partners, to sponsors, to customers, and even to members of your work-force. And one good way to learn to sell is by joining a network marketing system and taking advantage of the great training facilities provided there.

Third, understand the difference between assets and liability. Many go out into business without understanding the difference between assets and liabilities. Your knowledge in this area is very vital to your success. So get some good training before you jump in.

Forth, understand the power of systems. A business is essentially a system. Not understanding the power of systems will convert a business-man into a self-employed, and there is a difference between a business-man and a self-employed. A good business-man puts in place a system, which works irrespective of whether he is sleeping or working. The ability to do this is the difference between a business-man and a self-employed.

One needs to take a closer look at him or herself before going into business, but every attitude and characteristics required for entrepreneurial success could be developed by paying attention to critical factors, most of which are essentially psychological.

Bayo Bamitale , a consultant ,teaches
how to earn full time income working part time. His vision is to provide informational support for small scale businesses and budding
entrepreneurs.

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Learn Entrepreneurship Online

June 21st, 2010

If you are willing to take some risks, are really fed up with living under a boss, and think that all the uncertainty with jobs need not be faced because there are plenty of other things to do then you just might be the next big entrepreneur because you are already thinking like one. Before your start typing your resignation letter you should consider going through some entrepreneurship course so that you know exactly what you need to do as one.


If you do not have enough time to enroll in a regular course then do not stress it. You can always join a distance-learning course and attend classes on the Internet. In other words, you can learn entrepreneurship online. Not only is this convenient but it is also a whole lot cheaper. Many accredited universities also offer online programs for working professionals.


Here are some of the programs that would be of interest to you. If you have an associates degree or a high school diploma then you can opt for this course that teaches things like marketing management, entrepreneurial finance, product development, business law, and so on. If you want you could go for a bachelor’s degree course in Business Administration or Small Business and Entrepreneurship. If you are working full time then you should go for an Associate or Bachelor degree in Business Administration or Entrepreneurship that permits you to take classes on the Internet.


If you are already a graduate then you can also do your MBA (Master’s of Business Administration) online. The MBA course will teach you how to analyze your business and develop the right strategies, how to write business plans, and also introduce you to several case studies of businesses and their marketing strategies.

Business communication is another vital aspect of entrepreneurship and you can get a Masters of Arts in Business Communication from many good online universities.


Online education through a virtual campus is slightly different than attending a college full time but for the most part it is a good experience. Your classroom is waiting for your 24 hours a day and you can just hook up to the Internet and continue your education when you find convenient. Some universities even include video options where you can chat with faculty and other students to make the whole thing more personal.


If you believe that you have what it takes to be a successful entrepreneur then should seriously consider taking one of the above courses to sharpen your skills with a bit of formal education before starting your business.

30,000 yuan start: toy venture businesses – Toys, entrepreneurship, 30,000 yuan – the toy industry

June 19th, 2010

Less capital to start a business? In the work of a large private enterprise Liu Feng has said in an interview: “I graduated from university to work has been more than two years, has always wanted to save some money own business, save now the more than 30,000 yuan. I do not want to borrow money, do not know what it 30,000 yuan to launch the kind of entrepreneurial projects. “center of China Youth Daily social survey recently done by the Joint Tencent network of” young people how to treat the domestic business environment “The survey results, 56.3% believe the state should give priority to supporting small-scale, low-cost venture. In applying for bank loans, venture capital difficult circumstances, the cost of business seems to be small, “the boss” of choice.

Jing Beijing Langfang borrowed a year ago by a few million business, run from a plastic bag factory. Proper operation of the mill is on track, the government issued a policy on June 1 this year, the country of all supermarkets, shopping malls, bazaars and other retail establishments are prohibited from providing free plastic shopping bags. “This policy too much influence on me, I borrowed money just to pay off, about to have income, the state introduced the policy will significantly reduce the use of plastic bags, we factory may be difficult survive. appears to be the project had not elected, and now I am considering to turn off the factory, looking for a small cost of the new venture. But looking for a small cost for the project is really difficult to start. “Jing expression their concerns.

“Good project is the protection of small business success. Start early, often face the problem of lack of funds, the entrepreneur may wish to look them up without spending means business.” State business divisions, business teacher qualification Chief Expert Panel Zhaoyan Chen said, “such as a family is now only one child, the child is the axis of household consumption, and the parents choose toys for infants and young children, the special focus on its safety, educational and personalized content on demand from toys to has a very high quality requirements. every child toys consumption per capita of 300 to 1000 per month, if open a Toy store Market investment potential. ”

2007, graduated from a university of international trade in professional Tse Ming would like to work at a company for some time and experience, and then their own business. “I want to shop selling toys, early to Zhejiang and Guangzhou have been investigated, it is China’s toy manufacturing base, to which manufacturers can work with manufacturers to establish a better relationship, since the convenience of getting goods. I have a junior high school students as well In this way, the same year to start his own toy store, now has earned several hundred thousand of the. “Xie say so.

Zhao Yanchen this proposal, Tse Ming should first enter the toy circulation, he said: “To operate and manage a toy’s ability to learn, production can not give up, and toy-related knowledge to know more about, including the procurement of raw materials , production processes, product packaging, and much more understanding, there are cost structure, quality standards and testing, to pricing. If you can stand the producer, that is, the perspective of the factory is how to deal with their business relationship, easier access to your factory. ”

As for venture capital, Xie Ming Zhao Yanchen recommendations based on their accumulated first, followed by a good personality to foster the image of resources to establish a good network of contacts, at the appropriate time to seek Cooperation Again to explore a successful small-scale model is shown advantages when you have already had to attract external funding conditions. “Solve the financing problem, must not only have an idea, or what to write a plan on looking for investors everywhere, so not only will not have any results, but also man without valuable time, energy and the already small number of funds. In funding issues, remember these words: based on their own, start small and create competitive advantages cooperation. ”

Start a long process, select the small cost of pioneering entrepreneurs, many people are first time entrepreneurs, they tend to lack business experience, Wong says that after his start-up plastic bag factory, a long time are learning how to operate and manage, “I’m more than a year is learning, learning with doing, but also quite a few detours, and was even once deceived customers and nearly led to capital-strand breaks.”

Initial business people should be how to manage a business? Zhaoyan Chen believes that management is come to the normal operation of the business across the border after the end of this thing, is to close a successful venture has been successful or when the business began to mention those things on the agenda.