Rabu, 30 September 2009

An Introduction to Business Plans

A business plan is a written description of your business's future. That's all there is to it--a document that describes what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.

Business plans can help perform a number of tasks for those who write and read them. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.

So what's included in a business plan, and how do you put one together? Simply stated, a business plan conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks even.
Sound impressive? It can be, if put together properly. A good business plan follows generally accepted guidelines for both form and content.

Selasa, 29 September 2009

Recognizing the Soul of "Entrepreneur" Since the early

When we are asked by someone when we were little, "what ideals you?". What is our response? Many of us said, want to become doctors, presidents, engineers, pilots, or any other profession. But is there any of us who replied, "want to be a businessman."? Maybe some of us have the answers like that, but there certainly is not much. Because when we were little, become an entrepreneur is a choice that "abstract" or options that are not clear among the various options other professions, we do not know, or lack of information about what an entrepreneur was.

Actually to be an entrepreneur we have learned from an early age. We remember when our school, we had been taught about the craft. The lesson of these crafts is one way of indirectly, to foster our entrepreneurial spirit. Because, in these lessons we are taught to create something and not infrequently also we are led to show our work to others. Without us realizing it, when we make these things, we think to create something favored by teachers and / or others. At that time the urge arises or the effort to make other people like it or like something that I had made. In addition, when we show our work to others, that's when we learn to introduce our work to others and indirectly we have learned to market what we have made to others.

If the work we do not get good grades or do not get many good comments from people who saw it, other times we'll try to make something that is preferred by teachers and others.

That was several points about entrepreneurship that we have got an early age. At that time, we have learned to understand and study the tastes of others and also we have learned to introduce our work to others. If we think carefully, actually what we have learned, we try and we made at the time, may have been a few times to produce works that can be used as inspiration for a business. By adding or expanding our work into a product that can be liked by others so that they can be marketed.

Actually, the basics of being an entrepreneur have we got an early age through high school. Now live how we implement business in the business world, by becoming an entrepreneur.
Hopefully !

Minggu, 27 September 2009

Definition of Entrepreneurship

There are many interpretations and definitions of entrepreneurship.
Entrepreneurship according to Onuoha (2007) is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. According to intellectuals and business experts, the definition of entrepreneurship is simply the combining of ideas, hard work, and adjustment to the changing business market. It also entails meeting market demands, management.

Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. Many "high value" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. Angel investors generally seek returns of 20-30% and more extensive involvement in the business.

Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs. Lately more holisitc conceptualizations of entrepreneurship as a specific mindset (see also entrepreneurial mindset) resulting in entrepreneurial initiatives e.g. in the form of social entrepreneurship, political entrepreneurship, or knowledge entrepreneurship emerged.

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.