Trick Entrepreneurship

Before you enter a business, you must first understand several things. Running a business is easier said than done. The mere fact that you have the capital cannot guarantee success or even a modest profit. The tasks are endless and it might be overwhelming for a starter. Most businesses fail for the first 3 years. And very few can survive for 10 years or more. What can you do to overcome these?

How do you know if a business venture is profitable or not? Are there any available tools that an ordinary starter can use to help him arrive in to the right decision?

The most basic way of evaluating your business is thru SWOT ANALYSIS. It is the analysis of Strengths, Weaknesses, Opportunities, and Threats of a business.

Strengths and Weaknesses are generally the things that you have control of. Meaning, these are the things that are manageable and the success of your business will depend on your actions. Factors such as your skills, talents, family, background, employees, passion, attitude, and traits are some of these. These are the things that should be analyzed to determine which of these could help you to propel your business.

For example, if you are planning to open an auto detailing business, you begin to analyze your strengths and weaknesses. Your passion of cars might be your strength as you have the technical expertise on it. Your previous background as a manager can also be your strength as you know how to manage people. However, several weaknesses that can come along your way might be poor network with raw material suppliers and the lack of available financing resources.

Some strengths can also become weaknesses and vice versa. For example, you have a large extended family. It might be a strength since your family members might join forces to help you run your business. In contrast, it might also be a weakness since having a large family involves huge living expenses. Being blind may be a handicap and definitely a weakness but it can be strength if you put up a massage services that target Non-Government Organizations for handicapped persons as your customers.

On the other hand, Opportunities and Threats are generally the things that you don’t have control of. These are external factors that you cannot manage. Factors such as social, legal, and political influences, economic and financial aspects, and technology can be some of these.

For instance, having a lot of networks with politicians and decision makers can be an advantage to you. The passage of a law that gives tax incentives to asset management companies is a legal opportunity that you can tap. In contrast, having a computer business requires continues upgrading of software and hardware and might be too costly for your business. Economic factors such as an economic slowdown due to rising oil prices may be the wrong time to start a new business venture and can be considered as a threat. However, economic indicators such as rise in employment rate and increase in volume of car sales might be an opportunity.

So before you start your business, you might want to do the SWOT Business Analysis. List down your strengths, weaknesses, opportunities, and threats.

Moreover, you can also use the SWOT Analysis in yourself. What are your strengths, weaknesses, opportunities, and threats as a person? Or a SWOT Analysis of a company, say Google SWOT Analysis. Or a SWOT Analysis of election.

The SWOT Analysis is truly a remarkable strategy to reach a particular goal. Read More......

Okay, you already set up your business. It has been running quite okay for several months. But reality bites and slowly you are encountering several problems already. It has been losing money extensively. And you will come up to a certain point and ask yourself: Is it time for me to shut down this business?

This is the most difficult decision for a committed entrepreneur: close the business because it is not making money anymore and is in fact, a ‘money black hole’. Many committed entrepreneurs hang on despite the money losses they have and continue to incur. They just could not accept defeat.

Okay, okay, I know what you are feeling. You feel that if you can just hang on a little bit more, the wheel of fortune may turn in your favor and your business will be back to become profitable again. Because of your persistence and strong commitment, you’ve worked so hard in your business that you can’t seem to just merely shut it down. And so you say to yourself. “I must stay on and try even harder!”

Well, I salute you for saying this because this is the true test of a real entrepreneur. A lot of entrepreneurs, especially those ones who have big businesses, find it very difficult to shut down their business for fear of losing their face among their customers, friends, neighbors, and fellow entrepreneurs.

Swallow that pride and instead assess your situation objectively if you are really in need to shut down your business. A real entrepreneur knows when to quit, pick up the shattered pieces, and start all over again. There are a lot of stories about entrepreneurs whose business became bankrupt but went to another venture and finally became successful. They just persevered and were very persistent. Brave entrepreneurs are not afraid to fail because they know how to start another one. They can smell profits despite adversity and they can easily seize opportunities whenever there is one available.

So let’s go back to the initial question: Is it time for me to shut down this business? For me, the most important things that I would assess are my cash flow and my extra capital. Put simply, the monthly income and expenses and the extra capital that I can put for it to continue operations. If both of these have been bleeding and cannot survive at most, 6 consecutive monthly losses, then it’s time to fold up.

I suggest asking for a professional help and opinion as to whether your basis to shut down your business is based on fact. Objective analysis is very much needed. Look around and see if your fellow competitors are also failing. See if a trend is fast approaching. Are there any technological breakthroughs that made your business obsolete? Or maybe a simple case of the whole world economy turning sour as effects of the global financial crisis turning most economies into recession?

When your business is about to fold up, it definitely gets lonely. Your friends may even abandon you. Get the courage to go on with your life, perhaps in another business. It’s not the end of the world yet when you failed. Life is full of ups and downs. Learn to ride it and avoid making the same mistakes all over again. Read More......

What’s the difference between a businessman and an entrepreneur? Are they the same? They are somehow closely related as both do business. BUT I would say they are different.

To answer it directly, in a puppet and puppeeter relationship, an entrepreneur is the puppeeter and the businessman is the puppet. In an employee-employer relationship, the entrepreneur is the employer while the employee is the businessman. In short, an entrepreneur MANAGES a businessman!

Got it? What’s the meaning of entrepreneur from its etymology? - ENTERPRISE. Yes, an entrepreneur manages an enterprise.

It is usually an evolution. A businessman transforms into an entrepreneur. The former employee now becomes an employer. So that means this employee finally developed his way to widen his scope of the market, networked his products, hired people, and finally just stayed home just to monitor his business.

It’s not a one-tme shot! It’s a long process. An entrepreneur finds, creates, innovates ideas to do enterprise. When its’ ready and a system was already set up, then he will now organize businessmen, leave it to them to further enhance it. He makes way to meet them, interact, transact, and earn from them too.

How does an entrepreneur earn? He earns a little. Yes, you heard it right! An entrepreneur earns a little! BUT it was multiplied by a million times. The owner of McDonalds earns a little but it was mutiplied by thousands and million times as he now earns from each and every franchise of his store!

How about a businessman? A businessman attends to entrepreneur’s product, markets it, and in that way makes a living as his job.

BUT a businessman needs to evolve to become an entrepreneur. Have you ever thought of calling McDonalds to order a food? The owner is not the one attending to your orders but his people. And he earns from it! That’s an entrepreneur!

In the cashflow quadrant, a businessman is considered self-employed while an entrepreneur is considered as business owner. So a businessman is in the active income side while an entrepreneur is in the passive income side. A businessman works for money while money works for an entrepreneur.

So are you a businessman or an entrepreneur? Do you plan to evolve in case you are a businessman to become an entrepreneur?

Read More......

Title Page

Name of company, date, contact information, etc.

Table of Contents

Executive Summary



1. Business Concept
2. Company
3. Market Potential
4. Management Team
5. Distinct Competencies
6. Required Funding and its Use
7. Exit Strategy

Main Sections

I. Company Description

* Mission Statement
* Summary of Activity to Date
* Current Stage of Development
* Competencies
* Product or Service
o Description
o Benefits to customer
o Differences from current offerings
* Objectives
* Keys to Success
* Location and Facilities


II. Industry Analysis

* Entry Barriers
* Supply and Distribution
* Technological Factors
* Seasonality
* Economic Influences
* Regulatory Issues


III. Market Analysis

* Definition of Overall Market
* Market Size and Growth
* Market Trends
* Market Segments
* Targeted Segments
* Customer Characteristics
* Customer Needs
* Purchasing Decision Process
* Product Positioning


IV. Competition

* Profiles of Primary Competitors
* Competitors' Products/Services & Market Share
* Competitive Evaluation of Product
o Distinct Competitive Advantage
o Competitive Weaknesses
* Future Competitors


V. Marketing and Sales

* Products Offered
* Pricing
* Distribution
* Promotion
o Advertising and Publicity
o Trade Shows
o Partnerships
o Discounts and Incentives
* Sales Force
* Sales Forecasts


VI. Operations

* Product Development
o Development Team
o Development Costs
o Development Risks
* Manufacturing (if applicable)
o Production Processes
o Production Equipment
o Quality Assurance
o Administration
* Key Suppliers
* Product / Service Delivery
* Customer Service and Support
* Human Resource Plan
* Facilities


VII. Management and Organization

* Management Team
* Open Positions
* Board of Directors
* Key Personnel
* Organizational Chart


VIII. Capitalization and Structure

* Legal Structure of Company
* Present Equity Positions
* Deal Structure
* Exit Strategy


IX. Development and Milestones

Time may be specified on a relative scale rather than specific calendar dates. Milestones may include some or all of the following:

* Financing Commitments
* Product Development Milestones
o Prototype
o Testing
o Launch
* Signing of Significant Contracts
* Achievment of Break-even Performance
* Expansion
* Additional Funding
* Any other significant milestones


X. Risks and Contingencies

Some common risks include:

* Increased competition
* Loss of a key employee
* Suppliers' failure to meet deadlines
* Regulatory changes
* Change in business conditions


XI. Financial Projections

* Assumptions (Start date, commissions, tax rates, average inventory, sales forecasts, etc.)
* Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement)
* Break Even Analysis
* Key Ratio Projections (quick ratio, current ratio, D/E, D/A, ROE, ROA, working capital)
* Financial Resources
* Financial Strategy


XII. Summary and Conclusions

Appendices

May include:

* Management Resumes
* Competitive Analysis
* Sales Projections
* Any other supporting documents
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Many people use the terms "entrepreneur" and "small business owner" synonymously. While they may have much in common, there are significant differences between the entrepreneurial venture and the small business. Entrepreneurial ventures differ from small businesses in these ways:

1.Amount of wealth creation - rather than simply generating an income stream that replaces traditional employment, a successful entrepreneurial venture creates substantial wealth, typically in excess of several million dollars of profit.

2.Speed of wealth creation - while a successful small business can generate several million dollars of profit over a lifetime, entrepreneurial wealth creation often is rapid; for example, within 5 years.

3.Risk - the risk of an entrepreneurial venture must be high; otherwise, with the incentive of sure profits many entrepreneurs would be pursuing the idea and the opportunity no longer would exist.

4.Innovation - entrepreneurship often involves substantial innovation beyond what a small business might exhibit. This innovation gives the venture the competitive advantage that results in wealth creation. The innovation may be in the product or service itself, or in the business processes used to deliver it. Read More......

The concept of entrepreneurship has a wide range of meanings. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population. On the other extreme of definitions, anyone who wants to work for himself or herself is considered to be an entrepreneur.

The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise.

Schumpeter's View of Entrepreneurship

Austrian economist Joseph Schumpeter 's definition of entrepreneurship placed an emphasis on innovation, such as:

* new products
* new production methods
* new markets
* new forms of organization

Wealth is created when such innovation results in new demand. From this viewpoint, one can define the function of the entrepreneur as one of combining various input factors in an innovative manner to generate value to the customer with the hope that this value will exceed the cost of the input factors, thus generating superior returns that result in the creation of wealth. Read More......

Sites that gave free gifts were not counted by the amount, especially available outside west. Unfortunately, for the user of the internet in Asia, fewer of his possibilities to get free from there.

However available sites below this, most were local sites and west sites that have been proven by results. Because of plenty of free sites that evidently the deception to attract the users of the internet in order to want to come to his site.

Want the free school? Below this was sites that offered the scholarship for the student. However in practice indeed was difficult to get the scholarship, but did not close the possibility of being successful!!

1. ADS ( Australia Development Scholarships ).
http://www.adsindonesia.or.id
The scholarship for the school the Australia with the study program to S2 and S3. Moreover had help for family life and the training of English before the departure.

2. Akademia.
http://www.freescholarships.com

3. Habibie Centre.
http://www.habiebie.net

4. IIEF ( Indonesia International Education Fundation ).
Directly the e-mail to: ifp@iief.or.id, 11ef@indo.net.id
The scholarship was given priority to for the community's member who not all that had the opportunity for the college, in part: the inhabitants from the area were isolated, the outskirts community, the regional community of the conflict or pasca conflict , et cetera.

5. Info Kampus.
http://www.infokampus.com

6. Dikti.
http://www.dikti.org/beasiswa

7. IPTEK.
http://www.iptek.net.id/ind/beasiswa/prog beasiswa/index1.html

8. Isnet Scholarships.
http://www.beasiswa.isnet.org/
The scholarship for the poor and the orphan

9. Kamalindo.
http://www.kamalindo.com
This site especially gave information about the school in Japan. Information that was given very complete. From the introduction to the culture to the experience article the former Indonesian student that once the school in Japan.

10. Pendidikan.
http://pendidikan.net

Was continued... Read More......

The government of West Java Province will provide subsidies for small business credit medium enterprises (SMEs) in west Java as an effort to help the performance of SMEs. It said the Governor of West Java, Ahmad Heryawan ceremony at the Office Building of Bank Jabar Banten branch in Jalan Banjar. Letjen Suwarto, Ayr, on Thursday (4 / 12). According to him, that assistance, for example, if interest rates only 16 percent of SMEs pay 10 percent. The remaining 6 percent is subsidized by the government.
Meanwhile, President Director of Bank Jabar Banten Ruswandi said Agus, ready to support the opening of the scheme is easy and cheap credit for productive sectors such as SMEs. Currently, according to him, the composition of the productive and consumption credit is 27.99 percent and 72.01 percent. And the target for 2009, compositions can be a 35 percent credit for productive and the rest for credit consumption. Read More......

Discover 5 children are very young inovativ and lead small business in the world at this time, selected by BusinessWeek Online readers ... ..

When considering a negative thing, entrepreneurialism now bersinonim with the opportunity. Following their own stories, their business is the most dynamic and innovative economy in the fill. They plan ideas and concepts that keep changing views on business. And, today, entrepreneurs are no longer post-corporate. They are young people who just start with something new.

With the advantages in leading small business that produces the new young entrepreneurs, BusinessWeek Online in September to begin searching in all the world to know the "Best Entrepreneurs Under 25 years" We are looking for a business that is really innovative that a business that has the potential to develop built from the talent and intellect form, we find short stories of success from the new generation.


No. 1: Mark Zuckerberg
Founder of Facebook
www.facebook.com
Palo Alto, Calif.
Founded: 2004
Age: 21
Sometimes Sometimes the simplest ideas are the ideas that most are not possible. Zuckerberg launched social-networking startup that is extraordinary, Facebook, a student at Harvard, the league think this school when students need a library online. Zuckerberg has since Support to get more than $ 13 million from the world of the Internet, for example, the case Paypal founder, Peter Thiel and Accel Partners.
Wholesaler voting in the election at BusinessWeek Online has been in business this month since February 2004 but is Facebokk time has 6 million registered users, and two-thirds of the number of visiting the site each day. Next: Will Facebook launched version of high school children and see if the concept of this site will be developed to enter the international market.

Cleaning the environment a cheap
No. 2: Nancy Montano
Los Angeles Pumping
Mira Loma, Calif.
Founded: 2004
Age: 22
Graduates of the new universities are 22 years old, Montano Melaunching Los Angeles Pumping, Business to move a garbage company, after graduating from the University of California, Riverside. Working with his father Conrad, Montano driving his company into a company transferring the waste industry is very competitive, where large companies set prices higher to use the services.
His passion is not reduced, Los Angeles Pumping Revenue's increased from the $ 25,000 to $ 125,000 in the year. And enter the year both Montano expects to achieve sales to $ 1 million.

Sophie's Choice Quotes
No. 3: Joanna Alberti
philoSophie's
www.sophiesphilosophies.com
Boston
Founded: 2005
Age: 24
A graduate of the University of Boston in 2003, Joanna Alberti caricature drawing first Sophie, a trademark that is very confident, with characters that success, While working in advertising in Boston. And in February 2005, he began formal spread "Sophie Tao" through the Greeting-card business is small, philoSophie's, which was launched in May PhiloSophie is a picture of a woman named Sophie. Alberti and his writings portray the characters in "quotation marks." One example: "A cup of coffee and a strong self-confidence can take you through the morning's" Sophie inspire courage for the pendengarnya, as well as characters from Alberti a strong and independent.

Phone from the serious young
No. 4: David Hauser and Siamak Taghaddos
GotVMail Communications
www.gotvmail.com
Newton, Mass.
Founded: 2003
Age: 23 (Hauser) and 24 (Taghaddos)
Hauser and Taghaddos each start their first business when still in high school and then met at university in Babson. "We go to a university known for entrepreneurs, and we noted that many people we know frustrated with the phone system is expensive, which can be obtained with the actual cost of $ 10,000," said Taghaddos. But Hauser and Taghaddos invite friends to gather funds and launched CotVMail. Company to offer small-biz owners a way to see the same professional as well as large companies. Services ranging from $ 10 per month and offers a choice field, covering a variety of voice-mail, calls and email messages delivered in the form of ketelepon MP3. Gotvmail has become a very profitable company since keduannya month, and annual income is currently $ 5 million.

Fountain of Youthful Creativity
No. 5: Anand Chhatpar
BrainReactions
www.brainreactions.com
Madison, Wis.
Founded: 2004
Age: 24
Like many entrepreneurs, Anand Chhatpar proposed the idea for his startup, Brainreactions, while still students. Chhatpar is a student at the University of Wisconsin, Madison. After learning about ethnographic research and create prototypes that entered Pitney Bowe's technology with the concept, Chhatpar think he can use the knowledge gained there to tap into the creativity of young minds. He launched Brainreactions, a place for up to 200 professional brainstormers to create new production prominent, entering new market segments, and develop customer service improvement.

source: http://yukbisnis.com/content/view/55/34/ Read More......

Franchise came from France, that was significantly free from slavery or slavery (free from servitude). in the context of efforts, franchise meant the freedom that was received by someone to undertake personally a certain effort in the territory. whereas franchising was an activity with the system franchise, that is a system of the efforts connection that was mutually beneficial between the giver franchisor san the recipient franchisee.

Too many definitions concerning this one term. European Code of Ethich for Franchising gave the definition as follows, franchising was the marketing system of the thing and or the service and technology, that were based on the co-operation was closed and continually between the perpetrators of the independent and was separated good in a legal manner and keuangan. where franchisor gave the right to individual franchisee, and placed the obligation to carry out his business in accordance with the concept from franchisor.

Many people who did not dare to begin the business personally because felt inexperienced. This that often made them hesitant and frightened of beginning efforts. With the existence of the system franchise that enabled someone the beginner could in the world of the business open efforts. You that still the beginner could buy franchise, that only was needed by the co-operation and the fund from you.

According to the practitioner franchise, Bambang N Rahmadi had several factors that must be considered by you before chose franchise, among them:

1. Don't was easy to trust the brochure.
2. Don't want to fast rich.
3. Don't chose franchise that because of his price was cheap.
4. Determine your aim of entering the business franchise.
5. Pay attention to the level of the available risk.
6. Be careful with the subjectivity factor or emosional
7. Avoided franchisor that only had one product.
8. Avoided franchise that needed many employees.
9. Avoided franchisor that was snared by the law.
10. Investigate several many franchise that failed.
11. Study the promotion support franchisor.
12. Visit several franchisor other as the comparison.
13. Study the document and information that have been received.
14. Visited or changed thoughts with franchisee other.
15. Study the report on finance franchisor.
16. Compare the level of the production that will be received by you with the production of the fixed deposit.
17. Consider the size franchise fee and loyalty. Read More......

At the age of the new turn 23 years old, Elang Gumilang already become a businessman with a record omzet up to billions of rupiah. Namanya rebound for successful Elang menyambet prestigious award a number of areas of entrepreneurship, such as the Youth Entrepreneurial Mandiri Indonesia Open in 2007 and Indonesia's Top Young Entrepreneur in 2008. Elang build row houses type 22/60 and 36/72 in the type of Bogor. Thanks to the subsidy from the State Ministry of Public Housing, the house at the offer price of Rp 25 million-37 million per unit. DP with only Rp 1 million-3, and 7 million installment muli from Rp 124.000,00-290.000,00 per month for 15 years, they can already have a house.

Wirausahanya own soul when he began terasah of education in the SMA 1 Bogor. When the time Elang determined later graduated high school, he wanted to be able to pay its own course without drape themselves in their parents. Tacit Elang also have a small sinker to peddle around. Fair also, every day he can mengantongi at least Rp 50,000.00. When entering campus IPB, Elang life business also continues. At the first level of IPB, Elang sells shoes and suppliers in the dormitory lights bolam IPB. Once a business is not shoes, Elang confusion explore business apalagi. At the start have any ideas to sell the lights in the campus. Business opportunities when the Elang own beginning to see a lot of light in the dim IPB. Uniquely, the business strategy that nearly no capital. Just enough to have capital letters from the campus, he was one of the companies lobbying for the menyetok in the campus. And in fact, proposals goal. Every sale, he also benefit up to Rp 15 million.
Level two, for the rotation of money on the very slow, Elang any switch in the business selling cooking oil. One at a store in the area throughout the campus, he was kind of oil. Because the energy drain, he also decided to stop the oil business. "I began to think that business-use the brain," said Elang. Then he was switched to business institutions in the English courses campus. The capital, he joint venture with his friends.

Elang also said that the entrepreneurs are too many beginners do not hesitate in starting the business. "Usually, the kicker does not have capital. In fact, capital is not synonymous with money, capital is also the name of the form and good relations, "said Elang. "What is important is the intention must be true, the exit from the safe zone, and indeed do, and of course the confidence of the synergistic Allah SWT, science, and endeavor," said Elang, again. Read More......