Based on the analysis of Emma's situation and business, I would recommend the following option:
Delegate to a manager
The pros of this option are that it allows Emma to:
- Expand her business and take advantage of opportunities for growth
- Employ more people and provide job opportunities
- Free up her time while still being involved as the owner
While delegation does introduce some risks, Emma has built a successful business with strong foundations that could be managed well by an experienced professional. Hiring the right manager and establishing clear processes and oversight can mitigate the cons. Overall, delegation allows Emma to reduce her stress and workload while continuing to grow the business synergies between the tearoom and online operations.
Here are some key questions an entrepreneur should ask themselves:
1. Specifically, what problem are you solving or need are you meeting with this business?
2. Who is your target customer and how big is the market opportunity?
3. What makes you uniquely qualified to successfully run this type of business?
4. How will you acquire customers and what is your marketing and sales strategy?
5. What is your financial plan and forecast for revenue, expenses and profitability?
Asking yourself these strategic questions will help ensure you have a solid basis and plan for starting a sustainable business.
The document discusses the characteristics and backgrounds of entrepreneurs. It finds that while there is no single entrepreneurial profile, some common traits exist. Entrepreneurs often have self-employed parents and experience in business or management. They are typically between 30-50 years old and well-educated. Entrepreneurs desire independence and confidence, and are motivated by achievement, opportunity, and flexibility more than just money. Their work history and experiences provide skills valuable for starting and running a business.
A powerpoint on Business Planning & Entrepreneurship showcasing a sub topic of Intrapreneurship, including characteristics of an Intrapreneur, advantages, disadvantages and finally some compelling case studies to further reinforce the points made in the presentation.
This document summarizes a PowerPoint presentation about entrepreneurship by Charlie Cook of the University of West Alabama. The presentation covers the historical development of entrepreneurship, myths about entrepreneurship, different schools of entrepreneurial thought including trait, opportunity, and strategic formulation approaches. It also discusses process approaches like the integrative, assessment, and multidimensional models. Finally, it examines the current entrepreneurial environment and effects of entrepreneurship on the economy like job creation and market expansion. The overall document provides a comprehensive overview of perspectives on entrepreneurship.
Are great entrepreneurs made or born? Many individuals struggle with this question in the quest of starting and operating a business. It is not an easy task growing a business from the idea stage to a big business with huge profit margins.
The document is a chapter from an entrepreneurship textbook that discusses the historical development and definitions of entrepreneurship. Some key points:
1) The chapter outlines the objectives of examining the evolution of entrepreneurship and exploring major schools of thought on the subject.
2) Entrepreneurs are defined as individuals who recognize opportunities where others see confusion, challenge the unknown, and create future change.
3) The chapter provides definitions of entrepreneurship focusing on creating wealth through innovation, risk-taking, and providing value.
Based on the analysis of Emma's situation and business, I would recommend the following option:
Delegate to a manager
The pros of this option are that it allows Emma to:
- Expand her business and take advantage of opportunities for growth
- Employ more people and provide job opportunities
- Free up her time while still being involved as the owner
While delegation does introduce some risks, Emma has built a successful business with strong foundations that could be managed well by an experienced professional. Hiring the right manager and establishing clear processes and oversight can mitigate the cons. Overall, delegation allows Emma to reduce her stress and workload while continuing to grow the business synergies between the tearoom and online operations.
Here are some key questions an entrepreneur should ask themselves:
1. Specifically, what problem are you solving or need are you meeting with this business?
2. Who is your target customer and how big is the market opportunity?
3. What makes you uniquely qualified to successfully run this type of business?
4. How will you acquire customers and what is your marketing and sales strategy?
5. What is your financial plan and forecast for revenue, expenses and profitability?
Asking yourself these strategic questions will help ensure you have a solid basis and plan for starting a sustainable business.
The document discusses the characteristics and backgrounds of entrepreneurs. It finds that while there is no single entrepreneurial profile, some common traits exist. Entrepreneurs often have self-employed parents and experience in business or management. They are typically between 30-50 years old and well-educated. Entrepreneurs desire independence and confidence, and are motivated by achievement, opportunity, and flexibility more than just money. Their work history and experiences provide skills valuable for starting and running a business.
A powerpoint on Business Planning & Entrepreneurship showcasing a sub topic of Intrapreneurship, including characteristics of an Intrapreneur, advantages, disadvantages and finally some compelling case studies to further reinforce the points made in the presentation.
This document summarizes a PowerPoint presentation about entrepreneurship by Charlie Cook of the University of West Alabama. The presentation covers the historical development of entrepreneurship, myths about entrepreneurship, different schools of entrepreneurial thought including trait, opportunity, and strategic formulation approaches. It also discusses process approaches like the integrative, assessment, and multidimensional models. Finally, it examines the current entrepreneurial environment and effects of entrepreneurship on the economy like job creation and market expansion. The overall document provides a comprehensive overview of perspectives on entrepreneurship.
Are great entrepreneurs made or born? Many individuals struggle with this question in the quest of starting and operating a business. It is not an easy task growing a business from the idea stage to a big business with huge profit margins.
The document is a chapter from an entrepreneurship textbook that discusses the historical development and definitions of entrepreneurship. Some key points:
1) The chapter outlines the objectives of examining the evolution of entrepreneurship and exploring major schools of thought on the subject.
2) Entrepreneurs are defined as individuals who recognize opportunities where others see confusion, challenge the unknown, and create future change.
3) The chapter provides definitions of entrepreneurship focusing on creating wealth through innovation, risk-taking, and providing value.
Entrepreneurship is defined as having a vision and taking action to achieve goals that serve reality. Whether someone becomes an entrepreneur has less to do with personality and more to do with how accessible and familiar entrepreneurship is to them. To be an entrepreneur one must be optimistic, creative, stable, charismatic, energetic, and a risk-taker willing to do everything possible to reach their goal. Those who see themselves as potential entrepreneurs are more likely to become entrepreneurs, while those who see entrepreneurship as scary are unlikely to pursue it. Entrepreneurs should look for what their environment lacks and needs and consistently work to fill those gaps.
“The role of the entrepreneur is to stand up to all…to stand up to ridicule.”Chena Tucker
This document discusses key aspects of entrepreneurship including defining entrepreneurs, identifying opportunities, and factors for success. It provides that entrepreneurs have the capacity to perceive and act on opportunities, create something from little, and pursue opportunities regardless of current resources. Opportunities exist when there is an unmet need or room for improvement that can be addressed profitably. Social entrepreneurs identify large-scale social problems and act as change agents to improve systems and disseminate new approaches. While some debate if entrepreneurs are born or made, the document outlines that success depends on having an entrepreneurial mindset including being dissatisfied with the status quo and passionately pursuing new opportunities with discipline and focus.
The document provides an overview of entrepreneurship education topics including systemic entrepreneurship, social entrepreneurship, characteristics of entrepreneurship, the entrepreneurial process, startups, business models, and funding. Key definitions and concepts are discussed such as using entrepreneurship to address social problems, the importance of vision and mission, common startup myths, and customer discovery. The document also shares tips for entrepreneurs such as focusing on product/market fit and solving customer problems.
Entrepreneurs face many challenges including finding the right business location, hiring good employees, assembling an effective business team, raising startup capital, dealing with competition, keeping up with industry changes and trends, avoiding depression or anxiety, not overestimating chances of success, and maintaining proper focus. Some of the key challenges are finding a suitable business location, hiring trustworthy employees, convincing investors to provide startup funding, and adapting to shifting market trends and competition.
You may have heard the term "Intrapreneur," but what does it mean? What separates an intrapreneur from an entrepreneur and what can they do for your company? Find out here!
The document discusses the cultural diversity of entrepreneurship, noting that young people and women are increasingly choosing entrepreneurship. Minority and immigrant entrepreneurs are growing segments as well. Part-time entrepreneurs allow people to test their business ideas without major risk. Many entrepreneurs run home-based businesses which have lower costs. Family businesses involve multiple family members, while copreneneurs are entrepreneurial couples who work together. Corporate castoffs who leave organizations also often become entrepreneurs.
Intrapreneurship involves taking on an entrepreneurial role within a large company by developing new ideas and innovations. An intrapreneur is defined as an individual within an organization who takes responsibility for turning ideas into profitable products through risk-taking and innovation. Companies benefit from intrapreneurship through competitive advantages from new innovations that intrapreneurs bring to market. Intrapreneurs benefit through flexibility, recognition, increased value to the organization, and increased compensation. For intrapreneurship to succeed, companies must encourage creativity, grant ownership to intrapreneurs, and treat intrapreneurial teams as profit centers.
1) The document provides information on entrepreneurs Deepinder Goyal and Sundar Pichai. It discusses Goyal founding the restaurant search platform Zomato and Pichai's role in launching the Google Chrome browser as an intrapreneur at Google.
2) Both individuals have had very successful careers - Goyal as the CEO of Zomato, which operates in multiple countries, and Pichai rising to become the CEO of Google after overseeing the development and success of Chrome.
3) The document highlights their educational backgrounds and roles in creating innovative products and platforms that have seen widespread adoption.
The document discusses entrepreneurship and defines an entrepreneur as someone who creates a new business while facing risk and uncertainty in order to make a profit. It notes that entrepreneurship involves developing and coordinating entrepreneurial functions in a purposeful and systematic way. The document outlines characteristics of entrepreneurs like being risk-taking, leadership, decision-making, and confidence. It also lists different types of entrepreneurs and discusses the need and importance of entrepreneurship in creating jobs, economic growth, and innovation. Finally, it debunks some common myths about what is required to be a successful entrepreneur.
Intrapreneur is a person who helps entrepreneur in business activities.He is a person who is very innovative and creative in the business field .After getting experience he can become entrepreneur
Oct 14 ecd lecture 6 starting the business(1)gayporkkkkkk
This document summarizes lecture 6 on starting a business. It discusses pathways to new ventures such as bootstrapping, creating new ventures, acquiring existing ventures, franchising, social venturing, and taking over a family business. It also covers business structures in Singapore and harvest strategies for realizing returns on investment such as selling the business, public offerings, or employee stock ownership.
This document discusses the risks and rewards of entrepreneurship in Nepal. It notes that the risks of starting a new company in Nepal are high, both financially and due to potential cultural stigma. However, it also provides examples of successful entrepreneurs in Nepal who have started companies despite facing hurdles. The document provides tips for handling risks and evaluates different sectors based on their relative risk levels.
Entrepreneurship an idea is an opportunityKarim Soliman
1. Entrepreneurship an idea is an opportunity
2. Before we start
3. Anything that is worth memorizing is worth looking up. Seth Godin
4. Definition
5. Entrepreneur: No single definition
6. Walt Disney’s definition
“…. To do things and make things which will give pleasure to people in new and amazing ways. …. It is magic!
7. Forms of Entrepreneurship
Social Entrepreneurship
Business Entrepreneurship
8. Social Business Mix
NGO (non-profit) - NGO (for-profit) - Social Enterprise Social Business - Business Enterprise CSR - Profit Maximizing Business (PMB) Business Enterprise
9. Banker to the poor "Muhammad Yunus"
10. Sir Edmund Hillary was first to conquer Mt. Everest
11. Why are they entrepreneurs?
They had little or no resources at all but they survived and achieved what they wanted in life.
12. Business Entrepreneurship
13. The business cycle, according to Larry Farrel – Int’l expert on entrepreneurship
14. Entrepreneurship Is a PROCESS
15. Why Entrepreneurship?
16. Employees VS Entrepreneur "Money".
17. Special Power
18. Why NOT Entrepreneurship?
19. Risk
20. Peer Pressure
21. Work-Life Balance
22. An idea is An opportunity
23. Add Real Value
24. Solve a Problem
25. How to Start?
26. Creativity Vs Innovation
27. The Main 4 Types of Innovation
28. Product/Service "What we DO?"
29. Process Innovation " How we DO it?"
30. Business Model Innovation "How we make Money?"
31. Positioning Innovation "In our Marketing Mix"
32. One More Thing
33. So you want to be a billionaire - Put your name here
34. We are not perfect, Phones aren't perfect.
We want to make all of our users happy. "Steve Jobs"
35. Resources
Developing Innovative Ideas for New Companies: The First Step in Entrepreneurship
https://www.coursera.org/course/innovativeideas
Samsung Case Part 2: Innovation Process
https://www.youtube.com/watch?v=YRCip1KDR18
Types of innovation - Choosing where to innovate
http://www.innovation-management.org/types-of-innovation.html
Ten Types of Innovation:
The Discipline of Building Breakthroughs
https://www.doblin.com/tentypes/
35. Thank You
@KareemSamara
Founder & CEO of Social Business Kits
http://www.sbkits.com.my
The document defines entrepreneurship as organizing, managing, and assuming the risk of a business or enterprise. It discusses how entrepreneurship leads to economic growth, new industry formation, and job creation. Small businesses create more net new jobs than large firms. The document also outlines the entrepreneurial process, from opportunity recognition to obtaining the first customer to potential business failure. It examines trends in women/minority-owned businesses, social responsibility, the internet, and globalization that are shaping entrepreneurship.
The document provides an overview of small businesses and entrepreneurship. It discusses what entrepreneurship is, the entrepreneurial process, common elements like creativity and innovation. It also discusses the components needed for an entrepreneurial venture like the entrepreneur, opportunity, resources, and strategy. Key factors for small business success include the competence of the entrepreneur, having a product/service people want, financing, planning, management, resources, and developing trust with customers.
Intrapreneurship refers to entrepreneurial behavior within an existing organization or company. It involves employees or contractors with entrepreneurial tendencies who drive innovation from within. Some key aspects of intrapreneurship include challenging groupthink, thinking creatively about problems, and empowering work teams to be innovative. Organizations can become more intrapreneurial by cultivating a culture that encourages risk-taking and new ideas from within. Individuals can also unleash their intrapreneurial spirit through volunteering, taking calculated risks, and committing to ambitious goals.
This document provides an introduction to entrepreneurship. It discusses key concepts such as the definition of entrepreneurship, characteristics of entrepreneurs, factors that motivate entrepreneurs, common myths and challenges. The three main points are:
1) Entrepreneurship involves starting innovative businesses and transforming ideas into products/services, and entrepreneurs take risks and act as leaders.
2) Motivations for entrepreneurs include competition, creativity, having control, and making money. Successful entrepreneurs have traits like self-confidence, drive, and ability to handle risk.
3) Common myths about entrepreneurs are unfounded, and becoming an entrepreneur allows one to create their own destiny and achieve financial success and recognition by building their dreams.
This document defines entrepreneurship and outlines its importance and key characteristics. It discusses four criteria for becoming an entrepreneur: opportunities to recombine resources for profit, differences between individuals, willingness to take risks, and ability to organize resources. The document also covers motivations like money, flexibility, control, teamwork, and legacy that drive people toward entrepreneurship. It lists 10 essential characteristics of successful entrepreneurs like being creative, passionate, motivated, optimistic, and decisive.
Entrepreneurship is defined as having a vision and taking action to achieve goals that serve reality. Whether someone becomes an entrepreneur has less to do with personality and more to do with how accessible and familiar entrepreneurship is to them. To be an entrepreneur one must be optimistic, creative, stable, charismatic, energetic, and a risk-taker willing to do everything possible to reach their goal. Those who see themselves as potential entrepreneurs are more likely to become entrepreneurs, while those who see entrepreneurship as scary are unlikely to pursue it. Entrepreneurs should look for what their environment lacks and needs and consistently work to fill those gaps.
“The role of the entrepreneur is to stand up to all…to stand up to ridicule.”Chena Tucker
This document discusses key aspects of entrepreneurship including defining entrepreneurs, identifying opportunities, and factors for success. It provides that entrepreneurs have the capacity to perceive and act on opportunities, create something from little, and pursue opportunities regardless of current resources. Opportunities exist when there is an unmet need or room for improvement that can be addressed profitably. Social entrepreneurs identify large-scale social problems and act as change agents to improve systems and disseminate new approaches. While some debate if entrepreneurs are born or made, the document outlines that success depends on having an entrepreneurial mindset including being dissatisfied with the status quo and passionately pursuing new opportunities with discipline and focus.
The document provides an overview of entrepreneurship education topics including systemic entrepreneurship, social entrepreneurship, characteristics of entrepreneurship, the entrepreneurial process, startups, business models, and funding. Key definitions and concepts are discussed such as using entrepreneurship to address social problems, the importance of vision and mission, common startup myths, and customer discovery. The document also shares tips for entrepreneurs such as focusing on product/market fit and solving customer problems.
Entrepreneurs face many challenges including finding the right business location, hiring good employees, assembling an effective business team, raising startup capital, dealing with competition, keeping up with industry changes and trends, avoiding depression or anxiety, not overestimating chances of success, and maintaining proper focus. Some of the key challenges are finding a suitable business location, hiring trustworthy employees, convincing investors to provide startup funding, and adapting to shifting market trends and competition.
You may have heard the term "Intrapreneur," but what does it mean? What separates an intrapreneur from an entrepreneur and what can they do for your company? Find out here!
The document discusses the cultural diversity of entrepreneurship, noting that young people and women are increasingly choosing entrepreneurship. Minority and immigrant entrepreneurs are growing segments as well. Part-time entrepreneurs allow people to test their business ideas without major risk. Many entrepreneurs run home-based businesses which have lower costs. Family businesses involve multiple family members, while copreneneurs are entrepreneurial couples who work together. Corporate castoffs who leave organizations also often become entrepreneurs.
Intrapreneurship involves taking on an entrepreneurial role within a large company by developing new ideas and innovations. An intrapreneur is defined as an individual within an organization who takes responsibility for turning ideas into profitable products through risk-taking and innovation. Companies benefit from intrapreneurship through competitive advantages from new innovations that intrapreneurs bring to market. Intrapreneurs benefit through flexibility, recognition, increased value to the organization, and increased compensation. For intrapreneurship to succeed, companies must encourage creativity, grant ownership to intrapreneurs, and treat intrapreneurial teams as profit centers.
1) The document provides information on entrepreneurs Deepinder Goyal and Sundar Pichai. It discusses Goyal founding the restaurant search platform Zomato and Pichai's role in launching the Google Chrome browser as an intrapreneur at Google.
2) Both individuals have had very successful careers - Goyal as the CEO of Zomato, which operates in multiple countries, and Pichai rising to become the CEO of Google after overseeing the development and success of Chrome.
3) The document highlights their educational backgrounds and roles in creating innovative products and platforms that have seen widespread adoption.
The document discusses entrepreneurship and defines an entrepreneur as someone who creates a new business while facing risk and uncertainty in order to make a profit. It notes that entrepreneurship involves developing and coordinating entrepreneurial functions in a purposeful and systematic way. The document outlines characteristics of entrepreneurs like being risk-taking, leadership, decision-making, and confidence. It also lists different types of entrepreneurs and discusses the need and importance of entrepreneurship in creating jobs, economic growth, and innovation. Finally, it debunks some common myths about what is required to be a successful entrepreneur.
Intrapreneur is a person who helps entrepreneur in business activities.He is a person who is very innovative and creative in the business field .After getting experience he can become entrepreneur
Oct 14 ecd lecture 6 starting the business(1)gayporkkkkkk
This document summarizes lecture 6 on starting a business. It discusses pathways to new ventures such as bootstrapping, creating new ventures, acquiring existing ventures, franchising, social venturing, and taking over a family business. It also covers business structures in Singapore and harvest strategies for realizing returns on investment such as selling the business, public offerings, or employee stock ownership.
This document discusses the risks and rewards of entrepreneurship in Nepal. It notes that the risks of starting a new company in Nepal are high, both financially and due to potential cultural stigma. However, it also provides examples of successful entrepreneurs in Nepal who have started companies despite facing hurdles. The document provides tips for handling risks and evaluates different sectors based on their relative risk levels.
Entrepreneurship an idea is an opportunityKarim Soliman
1. Entrepreneurship an idea is an opportunity
2. Before we start
3. Anything that is worth memorizing is worth looking up. Seth Godin
4. Definition
5. Entrepreneur: No single definition
6. Walt Disney’s definition
“…. To do things and make things which will give pleasure to people in new and amazing ways. …. It is magic!
7. Forms of Entrepreneurship
Social Entrepreneurship
Business Entrepreneurship
8. Social Business Mix
NGO (non-profit) - NGO (for-profit) - Social Enterprise Social Business - Business Enterprise CSR - Profit Maximizing Business (PMB) Business Enterprise
9. Banker to the poor "Muhammad Yunus"
10. Sir Edmund Hillary was first to conquer Mt. Everest
11. Why are they entrepreneurs?
They had little or no resources at all but they survived and achieved what they wanted in life.
12. Business Entrepreneurship
13. The business cycle, according to Larry Farrel – Int’l expert on entrepreneurship
14. Entrepreneurship Is a PROCESS
15. Why Entrepreneurship?
16. Employees VS Entrepreneur "Money".
17. Special Power
18. Why NOT Entrepreneurship?
19. Risk
20. Peer Pressure
21. Work-Life Balance
22. An idea is An opportunity
23. Add Real Value
24. Solve a Problem
25. How to Start?
26. Creativity Vs Innovation
27. The Main 4 Types of Innovation
28. Product/Service "What we DO?"
29. Process Innovation " How we DO it?"
30. Business Model Innovation "How we make Money?"
31. Positioning Innovation "In our Marketing Mix"
32. One More Thing
33. So you want to be a billionaire - Put your name here
34. We are not perfect, Phones aren't perfect.
We want to make all of our users happy. "Steve Jobs"
35. Resources
Developing Innovative Ideas for New Companies: The First Step in Entrepreneurship
https://www.coursera.org/course/innovativeideas
Samsung Case Part 2: Innovation Process
https://www.youtube.com/watch?v=YRCip1KDR18
Types of innovation - Choosing where to innovate
http://www.innovation-management.org/types-of-innovation.html
Ten Types of Innovation:
The Discipline of Building Breakthroughs
https://www.doblin.com/tentypes/
35. Thank You
@KareemSamara
Founder & CEO of Social Business Kits
http://www.sbkits.com.my
The document defines entrepreneurship as organizing, managing, and assuming the risk of a business or enterprise. It discusses how entrepreneurship leads to economic growth, new industry formation, and job creation. Small businesses create more net new jobs than large firms. The document also outlines the entrepreneurial process, from opportunity recognition to obtaining the first customer to potential business failure. It examines trends in women/minority-owned businesses, social responsibility, the internet, and globalization that are shaping entrepreneurship.
The document provides an overview of small businesses and entrepreneurship. It discusses what entrepreneurship is, the entrepreneurial process, common elements like creativity and innovation. It also discusses the components needed for an entrepreneurial venture like the entrepreneur, opportunity, resources, and strategy. Key factors for small business success include the competence of the entrepreneur, having a product/service people want, financing, planning, management, resources, and developing trust with customers.
Intrapreneurship refers to entrepreneurial behavior within an existing organization or company. It involves employees or contractors with entrepreneurial tendencies who drive innovation from within. Some key aspects of intrapreneurship include challenging groupthink, thinking creatively about problems, and empowering work teams to be innovative. Organizations can become more intrapreneurial by cultivating a culture that encourages risk-taking and new ideas from within. Individuals can also unleash their intrapreneurial spirit through volunteering, taking calculated risks, and committing to ambitious goals.
This document provides an introduction to entrepreneurship. It discusses key concepts such as the definition of entrepreneurship, characteristics of entrepreneurs, factors that motivate entrepreneurs, common myths and challenges. The three main points are:
1) Entrepreneurship involves starting innovative businesses and transforming ideas into products/services, and entrepreneurs take risks and act as leaders.
2) Motivations for entrepreneurs include competition, creativity, having control, and making money. Successful entrepreneurs have traits like self-confidence, drive, and ability to handle risk.
3) Common myths about entrepreneurs are unfounded, and becoming an entrepreneur allows one to create their own destiny and achieve financial success and recognition by building their dreams.
This document defines entrepreneurship and outlines its importance and key characteristics. It discusses four criteria for becoming an entrepreneur: opportunities to recombine resources for profit, differences between individuals, willingness to take risks, and ability to organize resources. The document also covers motivations like money, flexibility, control, teamwork, and legacy that drive people toward entrepreneurship. It lists 10 essential characteristics of successful entrepreneurs like being creative, passionate, motivated, optimistic, and decisive.
The document discusses entrepreneurship as a career path. It defines entrepreneurship as designing, launching, and running a new business, and an entrepreneur as someone who recognizes opportunities and takes risks to start a business venture. It outlines five levels of entrepreneurial development from self-employed to true entrepreneur. It also lists common traits of entrepreneurs like self-awareness, courage, and perseverance. The document emphasizes the importance of entrepreneurship for job creation, economic growth, and introducing new products and services. It identifies some core competencies and common small business opportunities in the Philippines.
The document discusses key aspects of entrepreneurship education, including course outcomes, assessment, and an overview presented by Mr. Z. Njoroge. The course aims to help students demonstrate knowledge of entrepreneurship, identify business opportunities, develop a business plan, and pitch their ideas. It will be assessed through assignments, a business proposal, and project. The overview discusses definitions of entrepreneurship, attributes of successful entrepreneurs, myths and benefits of entrepreneurship, and its contribution to the economy.
The document introduces ViM People, a new type of entrepreneurial corporation focused on service providers for small businesses. It will initially focus on marketing, accounting, sales, food services, e-commerce, and retail market segments. Unlike traditional agencies, ViM People will be people-centric rather than technology-centric, featuring stories from partners, associates, clients, suppliers, investors, and charity recipients. The goal is to share this new model through local events and webinars to build a multi-billion dollar roll-up of small business service providers. ViM People will be independently run but launched through StartUp Guru's existing platform. The new structure aims for every person to spend most of their time in their "
The document discusses different types of business entities like sole proprietorship and partnership. It defines an entrepreneur as someone who starts a new business with risk and innovation. Some key characteristics of entrepreneurs are initiative, risk-taking, perseverance and self-confidence. Famous entrepreneurs like Bill Gates, Mark Zuckerberg and Warren Buffett are profiled along with their inspirational stories. The importance and role of entrepreneurship in economic development through job creation and optimal resource use is also highlighted.
The document provides details of an upcoming "Helping your business grow" breakfast event being held by the Business Growth Hub. The event agenda includes welcome remarks, overviews of Business Growth Hub services and guest speakers on business growth from Mediskills Training and Bake and Take. There will also be a Q&A session and remarks from Tameside Council on employment and skills support. The event aims to provide information and networking opportunities to help local businesses grow.
The document discusses several compelling reasons for starting small and medium enterprises (SMEs). It notes that as an SME owner, one can have flexible income not tied to a fixed salary. One can also gain work satisfaction and fulfillment. Additionally, SMEs allow one to customize their working hours and environment according to their needs and circumstances. The document provides examples of individuals' motivations for starting their own businesses, such as transforming an idea into reality, helping employees achieve goals, and providing for family security. It also describes social enterprises like Rags2Riches that help impoverished groups generate income.
This document provides an overview of entrepreneurship for cooperatives. It defines entrepreneurial mindset and discusses developing an entrepreneurial mindset through tools like leveraging your assets and aspirations, planning to adapt, building professional networks, and evaluating new product and service ideas. It also covers common drawbacks entrepreneurs face like risk of losing capital and high stress levels. The document concludes by defining cooperatives as people-centered enterprises owned and controlled by members to meet common economic and social needs through democratic management.
The document provides an introduction to entrepreneurship, including definitions, differences between entrepreneurs and small businesses, characteristics of entrepreneurs, examples of entrepreneurial ideas and businesses, classifications of entrepreneurship, the entrepreneurial process, and barriers to entrepreneurship. It also shares lessons learned from failed entrepreneurs.
How to Become a Key Person of Influence in Your IndustryMike Reid
The document is a transcript from a webinar promoting the Key Person of Influence Brand Accelerator program offered by Dent Global. Dent Global is introduced as a business accelerator company that helps entrepreneurs become recognized experts in their niche in under 12 months. The webinar discusses trends affecting entrepreneurs today and how developing a strong personal brand can help businesses scale. It provides several case studies of entrepreneurs who went through the accelerator program and saw significant revenue increases by developing their expertise and influence in their field. The webinar promotes the 5-step framework the accelerator teaches to help entrepreneurs position themselves as a visible expert and build valuable partnerships and assets for their business.
How great leaders inspire success - Catersource 2013Warren Dietel
Warren Dietel, CEO of Puff 'n Stuff Catering, discusses how great leaders inspire success. He explains that great leaders drive pride and ownership in employees by involving them in decision making. Leaders also focus on communicating their company's purpose and values to inspire employees. Finally, leaders leverage important traits like purpose and human connection to inspire customers and drive business results.
Good to great company written by James Collin.The Presentations regarding Gourmet Bakery .The steps of James Collin has been applied by Gourmet Bakery .
Leaderonomics SME CEO Conference 2017 - Growing & Scaling your Business to Gr...Roshan Thiran
These are the slides presented by Roshan Thiran, CEO of Leaderonomics at the SME CEO Conference 2017. He shares 4 constraints that are affecting your business and need to be addressed to grow and scale your business. For more information on the Leadership Dojo programme, which Roshan personally programme manages, email info@leaderonomics.com
To follow Roshan on Twitter (@lepaker) and Facebook, go to: www.facebook.com/roshanthiran.leaderonomics
Go Negosyo is a Philippine non-profit organization that advocates for entrepreneurship as an alternative to unemployment. It was founded in 2005 and aims to inspire Filipinos and teach them how to start businesses. Go Negosyo partners with private and public groups to provide training seminars, caravans, and summits on entrepreneurship topics. It has published books profiling inspiring stories of young and women entrepreneurs to encourage others. The organization believes entrepreneurship can help drive economic growth and create jobs in the Philippines.
This document discusses important entrepreneurial traits and competencies. It begins by outlining an activity to form groups and assign numbers. It then lists several personal entrepreneurial competencies including being hard working, having self-confidence, being future and profit oriented, and being goal oriented. The document continues by listing and describing 16 important entrepreneurial traits such as persistence, responding to feedback, taking initiative, setting standards, and coping with risk and uncertainty. It emphasizes that entrepreneurs must be committed, build on their strengths, act with integrity, and create value for society.
The document describes the activities of the EBI Network, which works to promote economic development in west central Illinois through four strategic themes: entrepreneurship, innovation, globalization, and sustainability. The Network operates entrepreneurship and globalization centers that provide resources and assistance to local businesses. It also manages an incubator to help startup companies. The entrepreneurship center educates and counsels individuals looking to start businesses through workshops, training programs, and one-on-one advising. The goal is to support entrepreneurship across the region and help turn ideas into successful businesses that will strengthen the local economy.
How to start a Small Business by Charles Odii. Founder of SME100AfricaCharles Odii
This document outlines how to start a small business. It defines a small business as independently owned with limited size and revenue. Small businesses contribute to local economies through growth, innovation and jobs. Reasons to start one include family, unemployment, poverty, innovation and meeting a need. Key steps are finding a business idea by researching market opportunities and ensuring there is value through being cheaper, faster or better. Other steps outlined are creating a business model, obtaining funding, legal registration, choosing partners, and accessing support from organizations like SME100Africa.
Innovation Policy and Australian Innovation system hack for Small BusinessSteve Wait
The innovation space is rapidly evolving this presentation was provided to the Port Stephens Councils Business Leaders to hack into some practical elements of the Federal Governments NISA Policy and the Chief Economists Annual Australian Innovation System Report
Similar to Entrepreneurship Training for NETFUND'S Green Innovations Award winners (20)
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
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Entrepreneurship Training for NETFUND'S Green Innovations Award winners
1. NETFUND GREEN INNOVATIONS AWARDS
Ensuring Start-ups Start Green
CATEGORY WINNER’S TRAINING ON ENTREPRENEURSHIP
17TH SEPTEMBER, 2014
Phyllis Engefu Ombonyo
Director, Business Development
Ensuring Start-ups Start Green 1
2. CONTENTS/OUTLINE
• Setting the Pace
• Definitions – Who/What is an
entrepreneur(ship)?
• Examples of Local and International
Entrepreneurs
• Why start a business?
• Qualities of Entrepreneurs
• Factors to Consider when choosing a
business
• Sources of Ideas
• Getting into action
• Examples of Nature-based
enterprises
• Reasons for Business
Failure/Challenges
• Inspirational Video – Richard Branson
Ensuring Start-ups Start Green 2
3. SETTING THE PACE
• Introductions (Name, institution & brief about your
innovation)
• Participants’ Expectations
• Ground Rules
• Roles and responsibilities
– Timekeeper,
– Energizer,
– Spiritual leader and
– Chairperson (to recap tomorrow)
• Opening Warm-up:
https://www.youtube.com/watch?v=cjapPH6wyGA
Ensuring Start-ups Start Green 3
4. PANEL DISCUSSION
• What is Entrepreneurship?
• Who is an Entrepreneur?
Ensuring Start-ups Start Green 4
5. ENTREPRENEURSHIP
• The process of starting a business or an
organization. The entrepreneur develops a business
model, acquires the human and other required
resources, and is fully responsible for its success or
failure.
• Entrepreneurship operates within an
entrepreneurship ecosystem; elements outside that
are conducive to, or inhibitive of, the choice of a
person to become an entrepreneur, or the
probabilities of his or her success following launch
• An entrepreneur is an individual who organizes or
operates a business or businesses
Ensuring Start-ups Start Green 5
6. ENTREPRENEURSHIP
“Creative Destruction"
• To replace in whole or in part inferior
offerings across markets and industries;
simultaneously creating new products
and new business models.
• Creative destruction therefore leads to
economic growth.
Ensuring Start-ups Start Green 6
8. WHY DO PEOPLE START
BUSINESSES? What motivates
Entrepreneurship?
Ensuring Start-ups Start Green 8
9. WHAT MOTIVATES
ENTREPRENEURSHIP? Contd.
According to Richard Branson,
"a business is simply coming up with
an idea to improve other people’s
lives and, hopefully, when you have
done that, more money will come in
than goes out.”
Ensuring Start-ups Start Green 9
10. What are the Essential Qualities of
Entrepreneurs?
Innovator — a generator of new ideas and
business processes.
Leadership, management ability, and team-building
Committed , Informed, Motivated,
Good manager, In control, Consistent,
Flexible, High need for achievement,
Propensity to take risk
What Other Qualities?
Ensuring Start-ups Start Green 10
12. FACTORS TO CONSIDER WHEN
CHOOSING A BUSINESS IDEA
• Unique selling point
• Market/Customers/Demand
• Competition/Identify a Niche
• Capital/Total Project Cost (Assets +WC)
• Return on Investment/Profit
• Raw materials
• Skills Required- Are they specialized?
• Govt. Policies and regulations
• Location: Proximity to resources/inputs, customers etc
• Environmental Factors
Ensuring Start-ups Start Green 12
13. SOME SOURCES OF IDEAS
• Family & (or) Friends
– Donald Trump, American real estate entrepreneur, mentioned
obtaining his ideas from his father.
– If it weren't for Steve Jobs' good friend Steve Wozniak, there would be
no Apple Computer today
• Observation: Look at all the things that bug you.
– Joel Mwale was disturbed by the lack of clean water in district
hospitals hence invested SkyDrop – bottling clean water from rain
water
• Tap your Talents – Churchill’s interest was in drama/comedy
and that gave the birth of laugh industry
• Travel – Opens up your eyes to potential ideas.
• Examine old mouse traps –then build a better one
• The Internet
Ensuring Start-ups Start Green 13
14. POSSIBLE OPPORTUNITIES…
GETTING INTO ACTION!
• Buying an existing business and expanding its
scale of operation or changing certain aspects of
its operations.
• Franchising an existing business or franchising
your own business.
• Linkages to existing and upcoming markets
• Exploitation of the natural resources in your areas
like cash crop farming, ecotourism,
• Leveraging on your talents
• Waste: Turning waste materials into business e.g.
animal wastes into biogas or manure
Ensuring Start-ups Start Green 14
15. EXAMPLES OF NATURE-BASED
ENTERPRISES
• Beekeeping,
• Eco-tourism,
• Livestock rearing,
• Farm woodlots for firewood, timber and charcoal
briquettes,
• sustainable energy solutions-Biogas, solar energy,
• Horticulture farming, tree and fruit nurseries,
reforestation
• Harvesting grass from the forest.
• Sustainable collection of firewood from the forest
• Harvesting and selling of medicinal plants.
Ensuring Start-ups Start Green 15
16. GROUP WORK - CASE STUDY (20 mins)
Divide the Team in two groups
Group I – Study the Story of Terry Mungai (Ashley’s Beauty
Vampire - salons & College) and
Group II – Joel Mwale (Sky drop Enterprises)
Questions to discuss
1. What are some of the remarkable qualities of these
innovators?
2. What are some of the challenges that they may have
experienced.
Duration: 12 Minutes
Nominate a secretary to present; each presenter takes 4 mins.
Ensuring Start-ups Start Green 16
17. CASE STUDIES – ASHLEY’s/Terry & Skydrop,
facebook/Joel
“I Work Hard” From a Van Sales Girl To
Creating More Than 240 Jobs
She is a common name in Kenya having started her own beauty empire dubbed
Ashleys Kenya. But did you know successful entrepreneur Terry Mungai was once a
van sales girl selling bakery products, a secretary or an insurance agent?
Nonetheless, how did Ashleys Kenya come to be?
“There was one or two professional hair dressing outlets in Nairobi but their staff did not
take their jobs very professionally,” she once told The Star adding that as a marketer
she saw an opportunity and run with it.
“I sensed a niche that needed to be tapped where I would make the executive man and
woman enjoy their visits to the salon and barber shop,” she is quoted in the past
interview.
But it’s in her recent interview with BBC where she reveals how hard it was to get the
capital to start her own business.
“When we were starting out, if you were a woman and you went to the bank for a loan,
they wanted to know who you were married to and whether you had permission to be in
business…….But now all that has changed. You are considered an entrepreneur,” she
says.
Today, she basks in the glory of her own success while running a chain of high-end
salon and beauty shops, a training institute and a license for the Miss World Kenya and
has organised the beauty pageant for over a decade
“Just seeing lives that have been transformed because I have had the fortune of
bigger blessings, gives me a lot of joy,”
But her journey has not been a smooth sailing. In a past interview with How We Made it
in Africa, the successful entrepreneur talks of the workforce struggles she has had to
endure in the past.
Ensuring Start-ups Start Green 17
18. WHY DO BUSINESSES FAIL?
• Choking competition & failure to adjust to changing
environment (give local examples)
• Poor business location
• Poor business management and leadership
• Poor quality products/services
• Natural calamities
• Un-informed costing and pricing of products
/services.
• Continued business losses
Ensuring Start-ups Start Green 18
19. INSPIRATIONAL VIDEO FOR
ENTREPRENEURS
Watch Either
Be willing to take risks:
https://www.youtube.com/watch?v=8NxDO6fA5rU
OR
Richard Branson (Virgin Atlantic Boss) on
entrepreneurship (motivation, challenges etc)
https://www.youtube.com/watch?v=VH35Iz9veM0
Ensuring Start-ups Start Green 19
20. SUMMARY OF KEY AREAS
• An entrepreneur is someone who operates/organizes a
business. This may also be termed as “creative destruction”
where the entrepreneur offers better products/services that
challenge the status quo.
• Our motivation to start business should be first, to improve lives,
then later to generate income
• Entrepreneurs are innovators with strong management and
Ensuring Start-ups Start Green 20
leadership skills.
• Before starting a business, consider the product, price, market,
competition, resources and their sources etc.
• Some sources of ideas include acquaintances, talents and
issues that disturb you.
• A possible way of starting a business is purchasing an existing
one or franchising.
• Businesses may fail due to a failure to adjust to the changing
environment.
21. OPEN DISCUSSIONS
Thanks for listening!
Phyllis.ombonyo@netfund.go.ke
Ensuring Start-ups Start Green 21