Preparing as Entrepreneur and for Entrepreneurship. What does it take to prepare before starting a Business. This presentation can be a preparation starter kit for people looking to start their own venture.
“What is Entrepreneurship?”
Entrepreneurship is the act of being an entrepreneur, which is a French word meaning "one
who undertakes innovations, finance and business acumen in an effort to transform
innovations into economic goods.
Understanding Business Risk.
Misreading the Market
Unable to scale
A high percentage of new businesses fail within the first few
Overestimating the appeal of your product or service.
Inadequate initial financing.
Poor financial controls can sink a new business even if the
idea of the business is a good one.
The new business consumes the time you devote to family and
Personal Financial Planning.
Strategies and timelines
for accomplishing your
Managing risk is essential
to your long-term financial
security & protect you from
Evaluate where you're at
today and set the stage
for your goals and
priories going forward.
Don’t keep unnecessary
loans and credit card
Have enough cash on hand to
cover three to six months of
basic living expenses .
This is simply a matter
of figuring out what
you own less what you
Have a balanced
Spotting the Opportunity.
Start to believe you can.
Don’t focus on the problems, focus on
Think of what it is you want to
Think about how you can accomplish
Take different views of the situation.
Make it a habit, see every problem as
Exit Stage Thinking, This is where Money is
Made for all Fuss
I have many ideas,
which one should I begin with?
Take time to brainstorm about possible
Start with the one you can begin today or
Focus on customers and what their
needs / wants are.
Look for demand.
Review the competition.
Do you have the required Skills /
Resources / Time.
Do you feel confident you can execute