sgp...30slides

Entrepreneurship

Chris DeStefanomohammedalibusiness.wordpress.com

ThesisThesis

I have chosen to start a business and see what an entrepreneur goes through, so they can do what they have always dreamed of and in turn I can start my own business to see what they really do go through.

http://www.businesstouch.info/starting-small-businessA

Personal Relevance

Traits for Becoming an Entrepreneur

Traits and Characteristics:

Ability to gather facts

Make important decisions

Stay motivated

Good organizational skills

Above all the ability to take risksRamsey, Dan, and Stephen Windhaus. Business Plan Book . Avon: Adams Media, 2009.

Print. The Everything.

Cornwall, Jeffrey R., and Michael J. Naughton. "Who Is the Good Entrepreneur? An

Exploration within the Catholic Social Tradition." Symposium on Ethics,

Business and Society Ethical Challenges in the Age of Globilization 44.1

(Apr. 2003): 61-75. JSTOR. Web. 22 Dec. 2010. <http://www.jstor.org/

stable/2507516>.

http://reclaimorder.wordpress.com/

Advantages of Being an EntrepreneurYou are the boss

You are in all aspects of the business

No limits!

Shea, Peter. Start Your Own Business. Ed. Marla Markman. 5th ed. N.p.:

Jere L.

Clames, 2010. Print.

Harrington, Judith B. Start Your Own Business Book. Avon: Adams

Media, 2010.

http://www.notestoselfplustw

o.com/2011/01/so-i-had-dinner-with-my-boss.html

http://www.fairfax.cc/nolimits

More advantagesMore advantages

Live a life that you want to liveLive a life that you want to live

Shea, Peter. Start Your Own Business. Ed. Marla Markman. 5th ed. N.p.: Jere L.

http://www.goinggreenorg.com/featured/advantages-of-an-organic-fertilizer-vs-chemical-fertilizer/

Disadvantages of Starting Your Own Business

No guarantee of money

A huge risk

Can be 3-5 years before you see money

A lot of responsibilitiesShea, Peter. Start Your Own Business. Ed. Marla Markman. 5th ed. N.p.: Jere L.

Harrington, Judith B. Start Your Own Business Book. Avon: Adams Media, 2010.

More Disadvantages

Keeping everyone happy

Long hours

Lost personal life

Dependence on the market

stable/2507516>.

http://www.noriskinvestor.com/component/k2/item/2-real-estate-investment-clubs-advantages-and-disadvantages

Before Forming a BusinessMake sure you get a solid

How it will impact personal life

Find a good time to introduce you product

O'Brien, George. "Entrepreneurs of Necessity." Business West 26.21 (15 Feb.

2010): 6-16. MasterFILE Premier. Web. 22 Dec. 2010.

<http://web.ebscohost.com>.

http://www.1stwebdesigner.com/design/checklists-important-things-right/

More Business Planning

Deciding on retirement

Knowing business concepts

Need to be able to endure the companyHarrington, Judith B. Start Your Own Business Book. Avon: Adams Media, 2010.

http://www.retirement-jobs-online.com/

Good Timing• “You find out what

running a business requires, while limiting your liability if it fails.” - Philip HollandShea, Peter. Start Your Own Business. Ed. Marla Markman. 5th ed. N.p.: Jere L.

http://karlin1780.wordpress.com/

Build it Or Buy It?Build it Or Buy It?Some possible ways to start without your own idea:

Already existing

Start a Franchise

Buy the business opportunity

Clames, 2010.

salescompinsights.com

Some possible ways to start without your own idea:

Already existing

Start a Franchise

Buy the business opportunity

Clames, 2010.

salescompinsights.com

Choose Your Target

• Two types of Market:

• Consumer

• Business

• Never want to fall in the “ALL OVER THE MAP”

• “Smaller is bigger in business, and smaller is not all over the map.” - Falkenstein

http://www.therealtimscott.com/identify-target-market/

Creating a Narrowed FocusCreating a Narrowed Focus7 Steps to create a narrowed focus:

Make a wish list

Describe the customer’s worldview

Synthesize

Evaluate

Go for it

Bluestein, Adam, and Amy Barrett. "Our Highly Practical, Eminently Doable,

Totally Reasonable Plan to Revitalize the American Dream. Bring on the

Entrepreneurs!" Inc. 32.6 (July-Aug. 2010): 76-88. MasterFILE Premier. Web.

20 Dec. 2010. <http://web.ebscohost.com/>.

http://www.masternewmedia.org/news/2007/11/16/content_strategy_have_a_strong.htm

7 Steps to create a narrowed focus:

Make a wish list

Describe the customer’s worldview

Synthesize

Evaluate

Go for it

http://www.masternewmedia.org/news/2007/11/16/content_strategy_have_a_strong.htm

Mission StatementA Mission Statement Includes:

business is about

what is being sold

how the use your resources to expand

Abrams, Rhonda. Business Plan in a Day. 2nd ed. N.p.: Planning Shop, 2009.

Print.

http://cropandsoil.oregonstate.edu/about-us

Market Research

While doing research be willing to make adjustments

Market Research should give you:

Industry Information

Consumer close-up

Competition close-upHarrington, Judith B. Start Your Own Business Book. Avon: Adams Media, 2010.

http://mooreslore.corante.com/archives/business_strategy/

Picking a Name•The Name is the first impression

•It can be far out or state what the business is

•You can get it professionally doneShea, Peter. Start Your Own Business. Ed. Marla Markman. 5th ed. N.p.: Jere L.

http://www.markrampulla.com/2008/09/13/hello-my-name-is/

When Choosing a Name•Choose a name appealing to all

•Connect on an emotional level

•Make it short and concise

•Don’t put:

•Cute Puns

•Incorporated

•EnterprisesHarrington, Judith B. Start Your Own Business Book. Avon: Adams Media, 2010.

listsoplenty.com

Choosing A Business

•4 Main types of business:

•Sole proprietorship

•Partnership

•Corporation

•S Corporation

http://pokertshirtclub.com/blog/2010/11/how-to-choose-a-print-on-demand-company-part-1/

Mau, Sandy. "Young Entrepreneurs Create Their Own Opportunitites." South

Carolina Business 31.6 (1 Jan. 2010): 38-42. MasterFILE Premier. Web. 22

Dec. 2010. <http://web.ebscohost.com/>.

Sole Proprietorship

•Very high risk

•Only one capital

•Low taxes

•Very high liability (risk taker)

http://farm1.static.flickr.com/40/119766491_bef106a216_b.jpg

Print.

Partnership

•Multiple capitals

•Low taxes

•High risk

http://farm6.static.flickr.com/5241/5220980008_2e18efa3ac_b.jpg

Corporation

•Board of Directors

•Protection to the liability of business owner

•Can raise stocks

http://www.mrbaconpants.com/how-to-survive-a-business-meeting/

Print.

Hiring a Lawyer

•Usually a good idea to hire a lawyer

•“Almost every business, whatever its size, requires a lawyer’s advice.” - James Blythe Hodge

http://antiintellect.wordpress.com/2010/07/

Hiring an Accountant

•Hiring an accountant can save massive amounts of money.

http://www.smallbusinessdelivered.com/accountantsholdthekeytounlockingsmallbusinesscashflowmysteries.html

Print.

Funding

•The hardest step in starting a business.

http://www.cosmoloan.com/money-management/the-6-main-reasons-why-most-pro-athletes-go-broke.html

Print.

Family, Relatives, and Business

Partners•One option is always to turn to family and friends.

•“Most Businesses are started with money from four to five different sources.” -Mike McKeever

http://cdn.24.com/files/Cms/General/d/294/7eee56a1d09d438aa079165764dd75dc.jpg

Investors

•Equity Financing

•Debt Financing

http://naturallyadvanced.wordpress.com/category/investing/

Debt Financing•Some types of loans are:

•Line-of-Credit loans

•Installment Loans

•Balloon Loans

•Interim Loans

•Secured and Unsecured Loans

•Letter of Credit

http://thecommercialmortgagepro.com/

Government Loans

•Take some of the blow if it isn’t as it was originally thought to be.

http://www.ehow.com/how_5025397_obtain-federal-loan-forgiveness.html

Print.

Negotiating

•Main Types of Negotiating:

•Know your bargaining position

•Know how the other side perceives its position

•Assess your bargaining style

http://www.waystobecomerich.com/2010/06/effective-negotiation-skills/

Advertising

http://effortlessabundance.com/advertise/

Create a Business Plan•Executive summary

•Business description

•Market Strategies

•Competitive analysis

•Design and development plan

•Operations and management plan

•Financial factors

http://freelanceswitch.com/the-business-of-freelancing/freelancers-do-you-need-a-business-plan/

"Writing a Business Plan for Existing Business." Minnesota Department of

Children, Families and Learning Performance Package (1997): n. pag.

MasterFILE Premier. Web. 16 Feb. 2011. <http://web.ebscohost.com>.

Abrams, Rhonda. Business Plan in a Day. 2nd ed. N.p.: Planning Shop, 2009.

Print.

Class ActivityClass ActivityI’m going to put up different logos and you are going to write down what company it is, or you think it is.

http://www.businesspundit.com/high-costs-force-mcdonalds-out-of-iceland/

John Deere

Prudential

Clevland Indians

AOL/AIM

GE (General Eletric)

Fruit of the Loom

Michelin

Nintendo 64 (Nintendo)

BP (British Protroleum)

Sporcle

Texaco

United Way

Walmart

Xbox 360

Works Cited

Abrams, Rhonda. Business Plan in a Day, 2nd ed. N.p : Planning Shop, 2009.

Print.

stable/2507516>.

Ramsey, Dan, and Stephen Windhaus. Business Plan Book. Avon: Adams Media, 2009.

"Writing a Business Plan for Existing Business." Minnesota Department of

Children, Families and Learning Performance Package (1997): n. pag.

MasterFILE Premier. Web. 16 Feb. 2011. <http://web.ebscohost.com>.

Works Cited Pictureshttp://www.maclife.com/tags/iphone_5

http://www.fair.org/extra/best-of-extra/labor-pbs.html

http://ourbigriver.blogspot.com/2005/11/green-party-linked-to-multinational.html

http://mysoxarewhite.sportsblognet.com/

http://www.thedailybeast.com/cheat-sheet/item/ge-pays-no-taxes/irs/

http://mmii.info/?db=GAMBITversion2.0&page=45

http://www.oilcityymca.org/Default.aspx?tabid=86

http://www.goodlogo.com/extended.info/2616

http://wizardprang.wordpress.com/2009/05/\

http://www.valdosta.edu/~jeburford/Mr.%20Burford's%20Super%20Class.html

http://news.taume.com/World-Business/Auto/2010-Opel-Insignia-Sports-Tourer-6997

http://www.travelcouponsonline.com/

http://www.austinchronicle.com/blogs/news/2008-02-25/595864/

http://www.heatingoil.com/category/blog/asia/

http://www.brookashley.com/

http://adobeperson.com/photoshop-effects-techniques/adobe-software-logo-design-effect

http://www.myxer.com/wallpaper/id/40475/meli09ky/John-Deere-Logo-Black/

http://computersclarified.blogspot.com/

http://freesoftwarepc.biz/networking-software/america-online-aol/

http://s367.photobucket.com/albums/oo115/ThatsBitch3n/?action=view&current=xbox-360-logo.jpg&newest=1

http://www.nintendocity.com/pictures/logos/systems_logos.shtml

Works Cited Pictureshttp://vectorlogo.blogspot.com/2010/07/john-deere-logo.html

http://www.usaring.com/homes/clark/default.htm

http://feedgrowth.com/idea-categories/advertising/enable-viral-distribution-of-your-widget-through-adobes-new-distribution-manager/

http://www.cultofmac.com/att-4g-network-rollout-in-2011/8467

http://www.baseballwallpaper.org/cleveland-indians-logo-with-indian-wallpaper

http://www.cedmagic.com/featured/he-man/atari-logo.html

http://www.logodesignlove.com/aol-logo

http://www.neiu.edu/~mrmouffa/example.html

http://partsonsale.com/solar-super-sale.html

http://www.examiner.com/public-policy-in-louisville/kentucky-welcomes-fruit-of-the-loom-underwear-expansion

http://www.scootershop.com/catalog/index.php?cPath=248

http://gadgetsteria.com/2009/11/03/n64-games-soon-coming-to-iphone-3gs/

http://logodesigns.com/how-much-is-a-logo-really-worth/bp_logo_823200753158am

http://www.1carpictures.com/p-opel_logo-1791.html

http://symbolphotos.blogspot.com/2011/01/pbs-logo-photos.html

http://freevectorlogo.blogspot.com/2010/03/shell-logo.html

http://sporcle.blogspot.com/

http://www.unitopinternational.com/our_clients.html

http://www.ecsm.org/

http://smartphonenation.com/2010/06/wal-mart-to-have-iphone-4-on-launch-day/

http://xboxfreedom.com/xbox-360-update-to-include-paypal-payment-option/xbox360_logo/

http://www.seeklogo.com/tag.html?q=X-Men&Page=5&Sort=Name-Asc

ConclusionConclusion

sgp...30slides

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