how to start a business

IntrospectionSubmitted by:

Joila N. AbaoKaren Mae S. Feguiras

Charisse Zianne N. LibresRodney L. Penafiel

Karen Grissel M. Ordialez

“Business is not about money.

It’s about making dreams come true for others and for

yourself.“—Derek Sivers

Why start a

business?

Dream come true

- to provea vision

Innovate & Create

- to developa product

peoplewanted but

couldn’t find.

Be your own boss

-See thedirect resultsof your labor

Risk Ahead

Every business potentially faces

challenges, hard works and risks.

The types of risk can vary from business to

business.Basically, risk means that there is a chance

that you won’t receive a return on your investment.

When you are in business,

you need to consider the kinds of events

that couldpose a risk to your business and take steps to mitigate

them.

The lists below are the most common threats or risks to start-up a business:

1. Strategic RiskResults directly from

operatingwithin a specific industry at a specific time.

The lists below are the most common threats or risks to start-up a business:

2. Compliance RiskAssociated with those

subject to legislative or bureaucratic rule andregulations, or those associated with best practices for investment purposes.

The lists below are the most common threats or risks to start-up a business:

3. Financial Risk Is an umbrella term for

multiple types of risk associatedwith financing, including financial transactions that include company loans in risk of default.

The lists below are the most common threats or risks to start-up a business:

4. Operational RisksThis results from internal failures.That is, your business’s internal processes, people or systems fail unexpectedly.

The lists below are the most common threats or risks to start-up a business:

5. Reputational Risk

Loss of a company’s reputation or community standing might resultfrom product failures, lawsuits or negative publicity. Reputations take time to build but can be lost in a day.

The lists below are the most common threats or risks to start-up a business:

6. Other RiskThis include health

and safety risks and risk from environment, such as natural disasters.

What is PECs?

It refers to the key characteristics that shouldbe possessed by successful entrepreneurs in order toperform entrepreneurial functions effectively.

3 Different clusters:

AchievementPlanningPower

3 Different clusters:1st Achievement Cluster

Opportunity Seeking

Coping with failure

3 Different clusters:2nd Planning Cluster

Goal-oriented Systematic

planning and monitoring

3 Different clusters:3rd Power Cluster

Self-confidence Demonstrating

initiative