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Enterprise 101


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starting your business.

Published in: Economy & Finance
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Enterprise 101

  1. 1. MIND YOUR OWN BUSINESS.<br />Starting up a new enterprise.<br />
  2. 2. Difference BTW an Entrepreneur & an Employee.<br />
  3. 3. Difference BTW a Small Business & a Big Business.<br />
  4. 4. Business: is the buying and selling of products and services in order to make money.<br />Employee: Someone who earns a living by working for someone else’s business.<br />Wholesaler: is a business that purchases directly from the manufacturer.<br />Retailer: Retailer buys small quantities from the wholesaler in order to sell to customers.<br />Entrepreneurial Vocabularies.<br />
  5. 5. Keystoning: is the buying of a product at wholesales price and then selling it double of the wholesale price.<br />Venture: is a small business that originated as an idea in the mind of an entrepreneur.<br />Market: are the people a business serve.<br />Profit: When the money you make is more than what you use to pay the bills.<br />Entrepreneurial Vocabularies.<br />
  6. 6. 4 Principles for Business Success.<br />
  7. 7. Entrepreneurship is about MEETING NEEDS & SOLVING PROBLEMS.<br />Carve out a MARKET NICHE for your self by engaging your market CREATIVELY & INTELLIGENTLY.<br />CONNECT your BUSINESS IDEAS to the NEEDS of your MARKET.<br />Meet needs: Solve Problems.<br />
  10. 10. Insolvent: A business that is loosing money.<br />Bankrupt: If the Money you are making can not pay your bills. This business will eventually go Bankrupt.<br />Assets: Items of value owned by the business.<br />Creditor: People the Business owe.<br />Debtors: People who owes the Business.<br />Business is a process of Discovery.<br />
  11. 11. WEALTH , JOBS & VALUE IS A RESULT OF WISE USE OF RESOURCES.<br />RESOURCES: Oil, Wool, Cotton.<br />CAPITAL: Land /Labor used for the creation of Products & Services.<br />MONEY also is considered as capital used as a business resources.<br />
  13. 13. Metamorphosis: CDEACEE<br />
  15. 15. Characteristics of an Enterpreneur.<br />adapt<br />compete<br />Adaptability: this is the ability to cope with new situations and find creative solutions to problems.<br />Competitiveness: the willingness to compete and test oneself against others<br />
  16. 16. Characteristics of an Enterpreneur.<br />Confident<br />Discipline<br />Confidence: this is the belief that you can do what you set out to do.<br />Discipline: ability to stay focus and stick to a schedule and deadline.<br />
  17. 17. Characteristics of an Enterpreneur.<br />Driven<br />Honest<br />Drive: this is the desire to work hard to accomplish one’s goal.<br />Honesty: the commitment to tell the truth and deal with people fairly.<br />
  18. 18. Characteristics of an Enterpreneur.<br />Organize<br />Persevere<br />Organization: this is the ability to structure one’s life and keep task and information in order.<br />Perseverance: the refusal to quit; the willingness to keep goals in sight and work towards them despite obstacles.<br />
  19. 19. Characteristics of an Enterpreneur.<br />Persuade<br />Risk<br />Persuasiveness: this is the ability to convince people to see your point of view and get them interested in your Ideas.<br />Risk Taking: the courage to expose oneself to possible losses.<br />
  20. 20. Characteristics of an Enterpreneur.<br />Understand<br />Vision<br />Understanding: this is the ability to listen to and empathize with other people.<br />Vision: this is the ability to see the end results of your goal while working to achieve them.<br />
  21. 21. What does it mean for a person to Have Vision.<br />Vision should not be confused with futurology.<br />Vision is not a quality but an ability.<br />Vision: <br />
  22. 22. Entrepreneurship: PROS + CONS<br />
  23. 23. Wisdom 4 enterpreneurs:<br />The world does not place an early bet on anybody. People will place their bet on you after you have placed your bet on yourself.<br />Be careful because you started well does not mean that you will finish well.<br />
  24. 24. Wisdom 2<br />The more colour your future will have is directly related to how hard you drive yourself. Be motivated, Drive your potential and position yourself<br />Potential is not enough, there are lots of guys out there that have potentials only to come into the grit of life to become duds.<br />
  25. 25. Wisdom 3<br />Talent is not enough either, a lot of talented people have become life failures.<br />Talent is like money, if you don’t use it you will loose it.<br />Success is not a noun, it is a VERB, you must continue to prove yourself from one level to another. The farther you go the higher you must push yourself to go<br />
  26. 26. Wisdom 4<br />Don’t feel bad when people don’t believe in your idea at the start, take it as a challenge to prove your self and how much value your dream is worth. Convert their unbelief into fuel for your venture.<br />Failure is an orphan.<br />Success has many cousins.<br />
  27. 27. Wisdom 5<br />Vision is after a fact. To that extent, vision is ironically past tense.<br />Discouragement may come in the beginning, but its worth to know that the second half of discourage is COURAGE.<br />
  28. 28. Wisdom 6<br />You only become relevant in life when you develop associative value, people must have something to gain by associating with you<br />Don’t be bitter, learn to rationalize.<br />Learn to forgive.<br />Concentrate your energy on proving your self and not proving a point, Don’t loose your focus.<br />Don’t be satisfied with little, put in your Best’s Best.<br />Develop Intellectual capacity and strenght<br />
  29. 29. Wisdom 7<br />You need tenacity an Inner conviction.<br />Excellence is not an option. Develop an excellent Spirit and Culture.<br />Trust in the Lord.<br />