The document discusses elements to consider when thinking about starting a business, including pros and cons, what defines an entrepreneur, and learning from others' experiences. It outlines potential benefits like independence and flexibility but also risks like financial insecurity. Key qualities of successful entrepreneurs are identified as self-confidence, commitment, initiative and being a self-starter. The document advises speaking to others already in business or who have started their own to gain insight into the realities of launching a new venture.
2. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
MAKING A START
Making A Start presentation attempts identifies elements
to consider when you are thinking of starting your own
business.
• Pros & Cons
• Entrepreneurship
• Learn from the experiences of others
3. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
PROS AND CONS
Is going into business right
for you?
Pros
• Personal challenge &
opportunity
• Independence & autonomy
• Flexible working hours &
flexible work location
• Direct „effort & financial
reward‟ relationship
Cons
• Business & financial
insecurity
• Self finance of pension &
work benefits
• On going business
administration
• Impact on work/life balance
“There is an opportunity
gap when the scope for
growing income at a very
fast rate is limited for
those who have too little
to invest , but expands
dramatically for those
who can invest a bit
more.”
4. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
ENTREPRENEURSHIP
What is an entrepreneur?
• An entrepreneur is a person who seeks a profitable
opportunity and takes the necessary risks to set up and
operate a business and make it grow.
• Differ from managers through their overriding
responsibility to use the resources of the organization
to accomplish their goals.
• Willing to take risks.
Am I an entrepreneur?
Yes, when you undertake and manage the risk of setting
up a business, you are an entrepreneur.
Qualities of an entrepreneur
Most successful entrepreneurs share certain common
qualities such as:
• Self confidence and Self determination
• Commitment and Perseverance
• Initiative and Judgement
• Self starter
5. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
ENTREPRENEURSHIP
Self employed need:
• To turn a pre-acquired
skill/know-how into a
service
• Portfolio (Evidence)
• Easy access to customers
(i.e. contacts./
networks)
• Self-Confidence
• Basic business know-how
• Relatively high profit
margin‟s
• Cash flow
Entrepreneurs need:
• A team
• A large market
opportunity.
• A WOW
• Key Partners/ Early
Evangelists.
• A solution/ offer
customers will buy/use.
• A “Market Validated
Business Model” that is
both repeatable,
predictable and
scalable.
• Profits
• Resources and Investment
6. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
LEARN FROM EXPERIENCE OF OTHERS
Learn from both the mistakes and the successes
Speaking to those already in business, or to someone who
has had experience of setting up a small business, will
give you an insight into the realities of starting up
your own business.
Suggested sources of local contacts:
• Professional and/or Trade Associations
• Business groups
• Family and friends who have started their own business
• Professional adviser/Mentors
“Ignore the stock market, ignore the economy, and buy a
business you understand” “Warren Buffet CEO Berkshire
Hathaway and one of the world’s richest entrepreneurs
7. www.lasseter.c
om.auinfo@lasseter.com
.au
tel.: 1300
083 691
If you have any queries please call us on 1300 083 691
or
We can contact you request via our website press here
View our Business Starter Package
View our Compliance and Administration Package
What Next?
