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Thursday, December 31, 2009

What is an Entrepreneur?

People enjoy a lot of comforts as they go through life each day. Have you ever wondered who are responsible for all these life's comforts? You have to thank the entrepreneurs for it. But, what is an entrepreneur?

Entrepreneur has many meanings. If you want to know exactly what it means, just keep on reading.

A person who assumes business responsibility and the risks that comes along with it is called an entrepreneur. As an entrepreneur, one expects to make profits, whether big or small, depending on the business he or she is involved in. generally, the entrepreneur decides which product or service to offer, obtain the needed facilities, hires the required labor force, acquire production materials, and provides for the capital.

There is no assurance that the business will become a success. However, if the business proves to be a success, the entrepreneur will reap all the benefits and rewards in terms of the profits. In case of a loss, the entrepreneur will also be the one to suffer.

Assuming business responsibilities is definitely not an easy task. Not many individuals are willing to take huge responsibilities, and most especially take all the risks. Only an experienced and knowledgeable individual will dare to become an entrepreneur. The ultimate goal of an entrepreneur is to earn profits.

By putting up a small business, you will also earn limited returns but by establishing a big business, you will also earn more profits. The choice will depend on the entrepreneur and his or her available resources.

As the most important person in a business venture, an entrepreneur will be the one to decide which product or service to offer. He or she must be able to determine the needs of the people and provide the answer to such needs. A careful study of the targeted market is required. This takes time because one can't decide immediately what product or service to offer.

Once the products or services are identified, it is now time for the entrepreneur to obtain all the needed facilities. This will include the building or the place of business.

Along with it are the other things needed such as the office furniture, fixtures, and many other things. The capital is usually provided by the entrepreneur and a part of it will be allotted for the acquisition of the facilities. Later on, these things will be considered as one of the assets of the business.

Recruitment of the labor force is also an important part of being an entrepreneur. The business will not succeed if it doesn’t have a loyal labor force. Everyone should work together in order to achieve success. It is therefore of utmost importance to hire only the qualified employees.

As you can see, the entrepreneur has to take care of many things. This may be one reason why not many individuals are willing to become one. If the business succeeds or fails, it is all because of the entrepreneur.

Now that you know what an entrepreneur is, would you like to become one? Well, if you have the right attitude, skills, and qualifications, you too can become an entrepreneur. It would be best to embark on a humble beginning. Don’t attempt to reach the peak of success all at once. It takes hard work, dedication, and perspiration. You must take one step at a time.

Saturday, May 2, 2009

Effective Ideas for Home Based Business Entrepreneurs

How can you establish a business without leaving the comforts of your home and do so with just a small capital? The answer is simple and it’s right in front of you. Think for everyone else. Act for everyone else. If they can’t do it, do it for them.

But how would you do it? To know the specifics, take time to attend seminars and workshops for more information and how to gather tips on starting a business. If you don’t want to spend your money on the first suggestion, there’s always an alternative. You could drop by the library within your community and read books regarding management and business. Well at least, that’s free. You just have to be part of the community. Or better yet, use the internet for various researches.

Home based entrepreneurs benefit vastly on having their business right at their doorstep. It extinguishes the agony and trouble of being stuck in heavy traffic and being late. Travel time would take at least thirty seconds from your bedroom to your home office. No dress code required.

You could come to your office on your pajamas, no one cares, and you’re the boss. Family time is not compromised. You are the boss of your own company. Best of all, self-discipline is practiced.

Here are 3 of the best suggestions for gearing up your home business:

1. Garage Sale – “the old and perhaps the new”

Sure you have clothes that are used only once. Those that your mother gave you when you were three but you wore them only once cause you never liked it. Remember? That’s right. Sell it on Monday.

Sign board announcement: Kid’s stuff on sale!
Your husband loves sports but that was 5 years ago. Again, sell it on Tuesday. Hunt down those baseball cards and sports gears he kept in his closet.

Sign board announcement: Sports stuff on sale!
Now are you having a clearer picture of what I’m trying to paint? You could sell different kinds of stuff on different days. That would make your garage a bit more interesting.

2. Food for Thought – “Sweet. Spicy. Sour.”

Cooking can be very consuming. But if your hands were made for it, then try the catering business. Supply food for gatherings like parties, anniversaries, meetings, etc. If you’re also good with pastries, then convert your garage or a part of your house into a mini cafĂ©.

Set up a relaxing ambience that would suit and entice customers to hang around. Give them a reason to stay. A good cup of coffee, light music, and a satisfying bite of their favorite blueberry cheesecake would definitely work up an appetite to keep them coming back for more.

3. Clean it, Scrub it – “From top to bottom”

Having an obsessive-compulsive type of personality can be an advantage and it can be put into good use. Aside from imposing cleanliness within your own vicinity, other people’s house might need it as well. In a generation where time is of the essence, workaholics fail to maintain an organized environment.

That’s where you come in. Advertise your services to those people who badly need grooming. Emphasize that when the environment is healthy, the client is healthy as well.

Are thoughts rushing in? From my point of view, the percent of failure depends on the time when you say “no” or ‘it’s not possible” to realizing that it is.

Saturday, April 18, 2009

Entrepreneur Tips for a Successful Home-Based Business

Budding business people are always on the hunt for useful tips that they can use for their home-based business. More and more people now are interested in creating a home based business because of the endless opportunities available online, even unknowledgeable individuals.

Through the internet, any person can become an entrepreneur. An online home-based business requires less capital investment and so many people think that they can easily make a fortune out of it. But you see, even an online business requires careful thought and consideration. You have to exert a lot of effort and time to make it a success.

Some of the business opportunities online include affiliate marketing, blogging, copywriting, and many others. If you take your time in researching online, you can find high-profit earning business opportunities.

For those people who are busy taking care of their families and for those that don’t have a professional career, an entrepreneur home-based business may be the answer to their financial needs. Running an online business does not evolve mainly on the desire to earn income. It takes more than that. Here are some helpful tips that you can use in running your home-based business:

1. No man is an island. Have you heard of that famous clichĂ©? That's specifically true for entrepreneurs. You're the boss of your business but that doesn’t mean that you will not need any support. You have to learn more about your target market so that you can address its needs accordingly. You can contact professional organizations if you like. Through research, you can learn a lot.

2. Only God is omniscient. Man has limitations and so you will not know everything that's happening all at once. You need to get the proper training in running your home-based business. You need to familiarize yourself with record keeping, tax deductions, and basic accounting procedures. Through series of trainings, you will know more about running your online business especially if you're a beginner in the field.

3. Never start a business that you hardly know about. Training and experience are the keys to success. To run your home-based business smoothly, you need to be an expert. Continue to learn as much as possible.

4. Never lose hope. Always have self confidence so that you can pass all the trainings and become a professional entrepreneur. You must always be patient and don’t give up easily especially if you're encountering certain difficulties and problems. By working hard, you can get the exact results that you want. Huge results don’t come in an instant. You must always trust your training, your business plans, and most especially, yourself.

These are some tips that you can make use it making your home-based business a success. There are many tips that you can find on the internet but these four tips are among the best and most effective. Many expert entrepreneurs can attest to that. If you want, you can join entrepreneur workshops so that you can meet famous entrepreneurs and learn more about their lives.

As the number of entrepreneur home-based businesses increases, you must be able to compete with other businesses. This is the only way to be successful. Incorporate these helpful tips in starting your online business and soon enough, you can prove if it's effective or not. You can earn huge profits if you start your business right.

Tuesday, April 14, 2009

Entrepreneur Responsibilities and Definition

Whenever you encounter an unfamiliar word, the first thing that you usually do is look up for its meaning. In this article, you will know the definition of entrepreneur. There are many definitions of entrepreneur but sometimes because of the many definitions, you often find it hard to understand even such simple word.

What is an entrepreneur? An entrepreneur is someone who manages and organizes any form of business. In order to understand the definition, you must know about an entrepreneur’s responsibilities. There are many responsibilities but those mentioned in this article are the most important ones.

Some of the responsibilities of an entrepreneur include planning, organizing, staffing, and controlling. These four responsibilities when done properly together will give you high returns in such a short period of time.

To start with, planning is a very important responsibility of any entrepreneur. Good planning is the very first duty that should be fulfilled by an entrepreneur. Oftentimes, an individual has many business intentions. To direct such intentions, you need careful planning. You must plan ahead so that you will know what to expect as you go through the course of the business. You have to plan all your actions and make sure that you follow such plans.

The next responsibility is organizing. In order to attain your specific targets, you must know how to organize especially if you’re handling several departments. This way, you can divide all the work that needs to be done. You don’t have to do all the work as an entrepreneur; you must know how to designate. By work designation, all the jobs are finished on time or even in advance. Not only that, the work are also done properly.

Staffing is another great responsibility of an entrepreneur. Sometimes, you’re burdened with your responsibilities but if you know proper staffing, you can lessen such burden. Through staffing, all the jobs are done properly and there is less possibility of business loss. You must have a competitive staff so that you can entrust the work to them.

Another responsibility of the entrepreneur is controlling. You need to direct, improve, and train employees. All the business plans made by the entrepreneur should be put into order. All the aspects of the business should be controlled by the entrepreneur – from production to inventory, quality checks, and many others. You should be able to monitor all the aspects of the business at all times.

In order to do all your responsibilities as an entrepreneur, you must be an excellent communicator. Good communication is needed so that you can deal with all kinds of individuals. If you’re good in communicating, you can convey all your messages correctly, completely, and clearly. This way, everyone will understand what you’re saying. Aside from being a good communicator, you must also be an excellent listener, writer, and reader.

If you want to become a successful entrepreneur, you must be able to do all the responsibilities mentioned earlier. You need to be a good and rational manager. If you can organize your business organization properly, you will not encounter many problems and you will have higher chances of earning big profits.

Now that you know the different responsibilities of an entrepreneur, you can understand what an entrepreneur really is. If you want to become an entrepreneur, you should determine first if you can handle such responsibilities.

Friday, April 10, 2009

Entrepreneur Business Opportunity and Market Demand

It's now quite easy to conduct any form of research and people owe it all to the internet. Aspiring and even full-pledged entrepreneurs get a lot of business opportunities online. If you're looking for an entrepreneur business opportunity, make sure that youstart your hunt online.

Building a business requires some ideas. You may be planning to offer a certain product or even a service. But before anything else, you need to determine if the service or product that you plan to offer is marketable and in-demand.

When an entrepreneur introduces a new service or product to the market, there should always be a demand for it. Otherwise, you will not be able to make a sale. Even if you think that you've found the best business opportunity, probably the most innovative and useful service/product, it will mean nothing if you have no market or people willing to purchase them. You will not be able to earn huge profits without market demand.

Putting up a business may seem very easy to some people. Well, it is especially if you do it online. However, you do need to exert enough effort to make it a success. As mentioned a bit earlier, you first need to determine the demand for your business idea. How will you go about it? Read on and you will find out.

1. You must choose the appropriate market for your business idea. After that, you need to determine if your business idea, whether a service or a product, offers similar or the same benefits like those existing services/products.

2. If you plan to put up an online business, you have to make sure that your business idea can generate enough traffic. It should always be among the top searches in any given search engine.

3. Businesses, both online and offline are dealing with real people. In the case of online businesses, you will often find unethical practices or scams all throughout the net. Make sure that your business idea is not similar to them. Is your product/service easy, lazy, vanity, or trick-like? You must answer this question before you put your business plans into action.

4. Is your chosen market full of disposable income?

These are some things that you need to answer and discover to determine if your business opportunity can compete in the market. Putting up a business will require money and a lot of your time as an entrepreneur. So before you start anything, you must take a hard, good, and long look at your business ideas.

This is true to both products and services. As an entrepreneur, you only want to make money and as much as possible, you want to stay away from business loss. Sell only the things that the market demands.

Studying the market demand is very important in determining if your chosen entrepreneur business opportunity is viable or not. Choosing the right business opportunity will always come side by side with market demand analysis.

Entrepreneurs are well known risk takers in the field of business but before taking any risk, they calculate everything first and see if the risk is worth taking. Putting up a business is a serious undertaking and so even upon the start of choosing the entrepreneur business opportunity, one should already put his heart and mind to it.

Thursday, April 9, 2009

Is Education needed to be an Entrepreneur?

Is there really an education needed to be an entrepreneur? This is a question often asked by aspiring entrepreneurs.

Well, it all depends on the individual. There are times even when those that have no educational business background are still able to make it big in the business world. Some say that they owe it all to patience, hard work, and dedication. Most of the successful entrepreneurs on the other hand claim that it would take good education to become an entrepreneur.

So what will it be? Well, if you can afford to study a business degree, then don’t let that chance pass you by. You're quite lucky if you can attend college especially for a business degree. You have to dedicate your time studying all your lessons because in due time, you will be able to use such information to the advantage of your business.

You can choose to study in a local university or college or those individuals with more money to spend can study abroad if they want to. The important thing is to take your education seriously because you can use them when the right time comes. And while you're studying, you have to develop all the needed skills and characteristics of being an entrepreneur.

You have to participate actively in all school activities especially those that require you to exercise your skills in business planning, controlling, directing, etc.

There are many business degrees that you can choose from like commerce, business administration, economics, and many others. Make sure that you choose a course that you like and one that you can afford so that you can finish your way to college. Remember, passing alone is not important. You have to learn every step of the way and don’t forget the things that you've learned.

Some entrepreneurs didn’t have the proper educational background and yet they've become successful in their chosen field. The fact is, there are many successful entrepreneurs without the proper business education. How many times have you heard of an entrepreneur who started from scratch and yet ended up having a high-profit earning business? Perhaps there's more to just education.

You see, aside from education, you have to possess the right qualities and characteristics of being an entrepreneur like leadership, innovativeness, creativeness, risk taker, and many others. Even if you have the proper educational background, you can't become a successful entrepreneur if you don’t have these qualities and characteristics.

It seems that education and the right characteristics go hand in hand in producing an effective and successful entrepreneur. If you can have them both, take advantage of it right away. Education is something that money can't buy in an instant and besides, you can use your knowledge for the best interests of your business.

This is not to discourage those that can't afford to earn a business degree in college. If you want, you can use the resources available on the internet and learn everything you can about being an entrepreneur. You must also develop the right attitude and characteristics as early as possible. If you can pull it off, then no one can stop you from entering the business world.

Is there an education needed to be an entrepreneur? This question can only be answered by you. If you're an aspiring entrepreneur, try to assess your qualities, skills, and educational background. After that, you can already determine if you're fit to become an entrepreneur.

Friday, April 3, 2009

To Define an Entrepreneur

When you encounter a new word, what do you usually do? Do you ignore it or do you try to look up its definition in the dictionary? For smart individuals, they will surely look up for the new word's meaning. If you're engaged in business undertakings, perhaps you want to define entrepreneur. Are you an entrepreneur?

There is a specific definition of entrepreneur. According to most dictionaries, an entrepreneur is a businessperson who finances or initiates emerging commercial enterprises. Basically, he or she is the person who provides for the capital of the business. However, providing capital alone is not enough to be called an entrepreneur. How is that?

It's because some individuals prefer to invest in a certain business venture but that person will let someone else handle all the business activities.

Any person who finances a business venture and runs it can be called an entrepreneur. According to some economists, an entrepreneur is someone who develops a fresh and new product, a new way of producing something, or an innovative market. Usually, entrepreneurs start with a small business and if it proves to be successful, the business will slowly expand.

So why put up small businesses? You see, small businesses require smaller amount of capital while larger ones demand huge capital. Not many entrepreneurs nowadays are willing to take the risk of putting up big businesses without proper research and studies.

Some say that being an entrepreneur starts right after a child is born. The qualities are already possessed by the child from the moment of birth. The individual is already a thinker and schemer of things. These individuals will want to reach the impossible. So if you’re a born entrepreneur, you must develop your skills and qualities so that you can use it in the near future for your success.

Putting up a new enterprise may sound very hard but for the entrepreneur, nothing is impossible to achieve. Innovation, creativity, leadership, being a risk-taker, and having the right inner drive or passion are some of the keys to being a successful entrepreneur. If you possess these things, nothing can stop you from being one of the biggest names in the marketplace.

There are thousands of opportunities that you can find from emerging communications, culture, and science and technology. All you need to do is identify these business opportunities and turn them into a real business enterprise. However, choosing a good business opportunity requires careful study and market research. Even if entrepreneurs are known to be risk-takers, they still have to make sure that they are entering a good business.

If you want to know more about the definitions of an entrepreneur, you can easily search for the meaning of the word in popular search engines like Google and Yahoo. By using the power of the internet, you can find a lot of definitions for you to understand the word much better. There are many resources to find online; all it takes is diligent research.

Being an entrepreneur is an exciting and challenging task. If you have the guts, the capital, the right inner passion, appropriate qualities, and skills, don’t hesitate to introduce something new to the market.

Besides, most customers like new stuff. So what are you waiting for? Study the market and see if you can enter it and become a new entrepreneur.

Thursday, April 2, 2009

Learn the True Characteristics of an Entrepreneur

It is said that in order to become a successful individual in whatever endeavor you wish to take, you must have the right attitude and characteristics. This is also true with an entrepreneur. Not everyone can become an entrepreneur. But before anything else, what is an entrepreneur?

According to one definition, an entrepreneur is someone who finances or initiates a certain business undertaking. If you too would want to become a businessperson, you have to possess the characteristics of an entrepreneur.

What are the characteristics of an entrepreneur? Are they really important? Well, of course the characteristics are important because if you don’t possess them, you will have lower chances in terms of business success. The characteristics are as follows –

1. Risk taker – this is a very important characteristic of an entrepreneur. If you're not willing to take any risk, then you will not succeed as a businessperson. In the everyday course of the business, you will encounter a lot of problems and challenges which you need to decide the soonest.

Some risks are worth taking after careful evaluation especially if it's for the good of the business. If you're not a risk taker, then you're not an effective entrepreneur and you're bound to fail in your business undertaking.

2. Smart – being smart is another characteristic of an entrepreneur. You have to be clever, keen, and witty in all your business dealings. You have to show mental alertness and intelligence so that you can win the respect and trust of customers and other clients.

3. A leader – leadership is a characteristic that is hard to find among individuals. Not many individuals have the nerve to take the lead. To become a good entrepreneur, you must be a leader. Some say that this is a born characteristic but if you don’t possess it, you can also learn to become a leader.

You're quite lucky if you're a born leader because you only have to develop your other qualities and use them when you choose to become an entrepreneur. As a leader, you should be able to guide, influence, and direct people. This way, you can handle all your business activities with ease and fewer worries.

4. Inner passion for business – another important characteristic is having the right passion for business. You have to maintain your enthusiasm and interest in the business. As long as you have the right drive and passion, you can run the business for a long time.

5. Honest and trustworthy – some say that eighty percent of an entrepreneur's time is dedicated to pooling and attracting customers. This may be true because without the customers, the business will not exist. You have to be honest and trustworthy so that you can develop good will.

There are other characteristics that an entrepreneur should possess. These characteristics help him or her do all the business responsibilities and obligations that need to be done.

These are also the keys to business success. If you want to finance a certain business venture and run the business yourself, you should develop these characteristics. Without them, your business will soon fail and you will suffer the losses.

Be thankful if you already have the characteristics of an entrepreneur. All you need to do now is to study the market carefully, think of a good business venture, and provide for the capital and you're all set.

Wednesday, April 1, 2009

Characteristics to be an Effective Entrepreneur

Before a doctor diagnoses a specific disease, his patient must undergo a series of laboratory exams and assessments. He has to know the history of his patient and how lifestyle affected his present health problem. As results come in, that would be an indication of the time when a physician gives specific drugs and therapies for maintenance. This will eventually contribute to the level of optimum health for that individual. If all else fails, the process will be repeated again.

Similar to what the abovementioned situation has stated, an entrepreneur’s responsibility would be pretty much the same. It’s just that, he should see his customers as his patients and what they must have to survive a present predicament or a need. He must follow certain steps before doing anything irrational that could contribute to the downfall of his business. He should have certain characteristics innate in his personality for if he lacks one of these, he’s most probably doomed to fail.

Entrepreneurship is collectively defined as exhibiting one’s vision, taking action, and pursuing that vision as a goal to be achieved in life as service to reality. In the meaningless definition, it’s getting your butt out of that couch and doing something rather than fulfilling your life’s destiny of being a couch potato. Stated below are some of the distinct attitudes an entrepreneur should positively have:

• Optimism – is foreseeing things in a positive way notwithstanding any circumstances that may hinder progress. The assertiveness of an individual depends on his knowledge of how to handle a difficult situation

• Creativity – is thinking outside the box. Expanding one’s mind of what is beyond the ordinary through fine research and collection of data.

• Stability – either physical, mental, social or emotional, a leader must possess a stable life which means he could handle tough situations during tough times

• Charismatic – intelligence of communicating with different walks of life. Who says a charming man is less than an intelligent one? A good entrepreneur must have the certain magic glistening in his eyes and could convey enchanting words to get hold of that convincing power no one dare resist.

• Risk-taker – as someone beginning his own dream, he should be stern and must have the guts and the balls to take the big leap of plunging into his own doom or success. He should not be afraid of taking chances when opportunity strikes.

• Energetic – willing to do whatever it takes to reach to the finish line. His drive must always be at its highest level for being an entrepreneur would make you work overtime. His enthusiasm must prevail the next best thing.

• Time bound – like a written report in a newspaper, an entrepreneur must be on the top of every innovation. By looking at our past, we could predict our future.

Small businesses, in time, would turn out big if the scope of management exceeds what is expected. So it is necessary for a beginner to be positive about his endeavors. He must be very observant of what his environment lacks and needs. He should have sturdy shoulders to put on extra weight of carrying a responsibility that could change his or her life.

One’s greatest failure is sticking with the mentality of being conventional. This would be one of an entrepreneur’s greatest downfalls. Think big. Act. Make your business dreams come true.

Tuesday, March 31, 2009

Business Ideas for the Entrepreneur

Many individuals nowadays prefer to have a home-based job rather than working eight hours each day in the office. Some people are also into franchising; this may sound good but if you want to become a successful entrepreneur, you don’t have to focus entirely on franchising. You should consider other business ideas that you can venture into.

Research can be carried out with ease these days, thanks to the power of the internet. If you conduct your search online, you can find other business ideas that you can use as an entrepreneur. Beginners will benefit a lot from the information they can find online about business ideas.

Because of the many business ideas you can find online, you will often find it hard to choose the ones you like. It’s easy to choose if you use your instincts. For instance, if one business idea feels right, take note of it but if you have second thoughts about another idea, disregard it.

As an entrepreneur, you should investigate further by gathering as much information as possible about the business ideas. True enough, franchise is absolutely a great idea. By choosing this business alternative, you can be the boss of your own business and you can earn unlimited income.

However, according to experts, franchise and other internet businesses promise the same business opportunities. It will all differ on how you handle the business.

Not all individuals who desire to own a business can achieve this goal. You see, being an entrepreneur is hard. There are a lot of factors to consider before you decide to become an entrepreneur. Even if you have the capital to finance the business undertaking, you can’t be sure that it can give you high profits in the future especially if you don’t know how to handle certain business situations.

First and foremost, you must be able to work alone. Once you’re an entrepreneur, you’re already self-employed. It would also be best if you can have the support of your loved ones.

Here is a very good example. As mentioned earlier, further investigation is needed to evaluate the business ideas that you have in your hands. Starting a business from scratch requires a lot of work. Suppose the business that you’re about to put up is also available in franchise, which business idea will you choose?

For the smart entrepreneurs, they will already go for franchising because it requires less work. An established business undertaking is less expensive and less risky. But before you make a final decision, you must be able to weigh all the advantages as well as disadvantages. This is an essential part of choosing the best business idea.

Once you’ve chosen the right business idea, you can spring it into action. Soon enough, you will gain the financial benefits that you’re dreaming of. Whether you choose to start your own business or go for franchising, the most important thing is to develop goodwill. All the actions of the entrepreneur must be focused in attaining all the objectives of the business.

If you want to become an entrepreneur, you must research all the business ideas that you can get online. The internet can help you a lot. Also, don’t forget to develop the needed traits and skills as an entrepreneur.

You can get many resources through the internet or you can talk to an established entrepreneur so that you will have an idea on what you’re about to undertake.