Tag: entrepreneur

  • Entrepreneurship Ideas

    Entrepreneurship Ideas

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    The world is full of need. Need is the foundation of business. Ergo, the world is full business opportunities. This analogy is true being that products and services are generally created to respond to a given social requirement. Food, shelter, security, comfort, entertainment – these are needs commonly recognized and catered by experienced entrepreneurs. This is probably the reason why there is an abundance of restaurants, convenience stores, rental apartments and townhouses, security agencies, spas and clubs in communities around the world. If you are a first time entrepreneur who wants to penetrate the business world, you have got to tap innovative entrepreneurship ideas. Otherwise, you’ll just be drowned out by senior competitors.

    Many of those the established entrepreneurs we have today made their mark in the industry with unique businesses thoughts. They even sought to address needs which were not that recognized by people. Socialization and information are human desires that have given some ingenious individuals access to the big bucks. Facebook and YouTube are ground-breaking entrepreneurship ideas, made real, that dared to redefine the concept of modern entrepreneurship.

    Honestly, it’s hard to top what these young industrialists have achieved. But aspiring businessmen need not feel discouraged about losing out. Here are some creative business proposals that might just get you that free slot with the big shots.

    1. Search Engine Optimization and Web Design
    Given the popularity of the use of the internet and the emergence of online businesses that wish to hit it big in search engines, these services are bound to be profitable. It can be done on a project basis so you don’t have to be committed to something long term. You can even keep another job while running such a business. Moreover, resources for SEO and web design are 50% free and the tools you use for it can be paid by monthly basis. Downside is you have to learn. Search engine optimization and web design aren’t complicated. But they will require some time investment in the beginning. What some start up entrepreneurs do is act as middle men for SEO and web design requests and outsource the tasks to cheap but capable Filipino or Indian specialists.

    2. Deliver Anything Service
    People are very busy nowadays and have hardly enough time to run errands. Running a deliver anything service is gainful considering that you would be able to cater to a large market with basically the same need – fast, efficient delivery of goods. You can be contracted by a studio owner who wants to deliver an important footage to a television station in another side of town; or a mother who wants to get her son’s lunchbox to him while he’s in school in one hour or less; or a businessman who wants to get a gift sent to a client living in another city within the day. The downsides are: it will require a hefty sum of capital and that you have established competitors known as the internet and couriers. Information sharing is fast and cheaper via emails and collaborative folders. And couriers basically give the same service. You’re only advantage is you are not fickle with what deliveries you make.

    3. Events Organization
    This is a fun business and it will challenge all aspects of your being an entrepreneur, from marketing to planning to budgeting and execution. You can cater to weddings, corporate parties, birthdays, baptisms etc. You will be able to widen your network as you pursue this service. And unlike the previous entrepreneurship ideas, YOU WILL NOT BE INVESTING ANY CAPITAL. You just got to establish a reputation and exert effort. You can start small. Start with friend. Get his/her money, spend it wisely and secure a high level of satisfaction. Marketing is basic word-of-mouth. If you do well, you will have a hoard of fans in no time.

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    Source by Greg Peter Candelario

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  • Naval Architect As Entrepreneur

    Naval Architect As Entrepreneur

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    These days a lot of Naval Architects are leaving well paying jobs to start their own entrepreneurial ventures. In this article, I will be exploring the minimal requirements required by a Naval Architect to start his own entrepreneurial venture.

    Different Avenues for a Naval Architect as an Entrepreneur

    i). Start their own Shipyard/ Ship Repair Yard

    ii). Start your Design firm

    iii). Start a Naval Architectural Consultancy

    Starting one’s own shipyard / repair yard will be beyond the means of a majority of wannabe entrepreneurs because of the large amount of capital involved. I will not discuss this topic, any further.

    Start your own Design Firm

    A Naval Architect, by profession is a designer. Design is his bread and butter and hence setting up a design firm will not be all that difficult for a wannabe entrepreneur. Let us see one by one, the minimal requirements for setting up a firm. I will not go into the business plans and cash flows required to set up a design firm as there are lot of books / articles in the net covering the same.

    i). Knowledge Base: A thorough knowledge in the inside-out of Naval Architecture touching all aspects of Naval Architecture. These include (but might not cover everything) Lines Plan, Hydrostatics, Stability, Initial Weight & Volume design, weight estimation, volume estimation, Resistance, Propulsion, Ship Structure, Sea keeping and Maneuvering. This knowledge base can be you yourself, and if you feel that you want to augment your intellectual base, then you can hire naval architects to work for you. If you are a One Man Army, then your costs for maintaining the Knowledge base will be restricted to the books and journals you subscribe to, to keep yourself updated. If you are employing Naval Architects, then you have to factor in their costs too. However if you are stating out as an Entrepreneur, then I am confident that your knowledge base will be sufficient to set you up, in the initial stages. Later on, once your business picks up, you can augment your manpower.

    ii). Office for Hiring: You should have an office space to set up your Naval Architectural Firm. The Office is to have 1-2 rooms, covering a floor area of approximately 1000-1200 sqft. The costs will depend on the area where you have chosen to hire your office.

    iii). Softwares; In the initial days, all the Naval Architectural calculations were done manually or at the most, by using Slide Rules and Logarithmic tables. However, with the advent of computers, things have changed. Nowadays sophisticated softwares are there to cater to each and every aspect of Naval Architectural calculations. These softwares start with the concept design and evolve on to full design at the workshop level stage. However these proprietary softwares are very costly as they are not mass produced to cater to millions of users. A single license can cost up to a million dollars. This will make it out of reach for most of the budding Naval Architects. However, if one does have the resources, then go for it. Some of the proprietary softwares used in the Ship Design field are TRIBON, AUTOKON & SHIPCONSTRUCTOR.

    However these days, with the advent of Open Source Software and freeware, one can get almost all the functionalities of proprietary softwares in these OSS and free softwares, though may be not, all in one.

    For drafting of lines plan, one can go for AUTOCAD. A single license, costs anywhere between 1000-1500 US$. However, these days there are excellent freeware drafting softwares, which one can use. I recommend FREESHIP, an excellent software with all the drafting and graphic functionalities of a Proprietary software.

    For Hydrostatic calculations and detailed stability calculations, one can go for MS EXCEL or Open Office spreadsheet. With the help of these spreadsheets one can do the calculations for Hydrostatics, Stability, Resistance (Based on various empirical formulae) and even propulsion calculations.

    I will talk about other free open source softwares in another article. Let me summarize the gist of my argument here.

    The softwares to set up a Ship Design Consultancy Firm are now freely available as Open Source Software. If at all, some calculations have to be carried out, which are not catered for, by these softwares, one can always go for Spreadsheet applications using Open Office or other similar Open Source products.

    iv). Other Overheads: Includes office furniture, stationary, etc.

    Starting your own Consultancy Firm

    A Naval Architect is a jack of all trades. His field encompasses a host of other fields like Mechanical Engineering, Architecture, Interior Designing, Chemical Engineering, Corrosion, Welding Technology, Software writing skills, Project Management, Hydrodynamics, Ocean & Offshore Structures, to name only a few.

    He can offer consultancy in a wide range of subjects.

    i). Initial Concept design which includes Sizing, Hydrostatics & Stability, Resistance & Propulsion, Initial estimates of weight.

    ii). Propeller-Engine Matching

    iii). Boat/Ferry design

    iv). Propeller Design

    v). Structural Calculations/ Buckling Calculations

    vi). Computational Fluid Dynamics

    vii). Finite Element Analysis

    viii). Offshore structures

    ix). Submarine cables and piping design

    x). Resistance calculations

    xi). Maneuvering calculations

    xii). Seakeeping Calculations

    xiii). Welding & Corrosion related consultancy

    xiv). Many others which cannot be detailed down

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    Source by Candice Gillifaasi

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  • The Entrepreneurial Success Plan for Coaches

    The Entrepreneurial Success Plan for Coaches

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    Many coaches know they have been blessed with a gift to coach but are not confident with the part of being an entrepreneur. Sadly, the number of coaches who don't succeed is probably far greater than the number of coaches who succeed.

    If you are a coach that is self-employed it is critical to the life of your business that you are equipped with skills to succeed as a business owner. You can't simply focus on being an amazing coach, you must also be an amazing CEO. That means running your business in a way that it will succeed even during the toughest times. This article is going to share some tips to help you achieve and maintain entrepreneurial success as a coach.

    1. Hire a business coach or take business classes:

    There are business coaches and business classes that specialize in helping coaches to grow their business. Don't feel like you must "go at it" alone because you don't. And don't wait until your business is in trouble to seek guidance. This is something that should be done frequently so that you can stay "on top of things."

    2. Know the specific problem you solve:

    It is important that you know the specific problem you solve for your clients. Most of the time problems equal some level of pain, frustration, or dissatisfaction with life. So when you can solve problems for your clients you can help them live a happier and more fulfilled life. And that is priceless. And knowing the specific problem you solve also helps you to market your business better, attract your ideal clients, and stand out in your niche.

    3. Don't be afraid to charge for your services:

    This is huge because in order to stay in business you must make money. And you absolutely can't charge fees that are so low that you can't keep your business doors open. Now this doesn't mean you have to charge such a high fee that you are out of the reach of your ideal clients, but neither does it mean that you should charge so low that you are struggling financially in your life and in your business.

    Having the right money mindset is essential because it will empower you to break through fear, doubt, and other issues around you charging the fee you truly desire. Not the fee that you feel like people will pay you, but the one that is fair to both you and your clients. And there is a way that can be done so you will still feel authentic and in divine alignment.

    4. Stay motivated:

    This is a key piece to entrepreneurial success that is often overlooked. Why? Because most of the time when we hear the words "entrepreneurial success" we think of things that are happening externally, like working with a business coach, taking business classes, or learning marketing skills. But motivation is the fire under everything else. Because without motivation no real action is being taken.

    Keep pushing toward entrepreneurial success and refuse to give up. You will have some good days and you will have some not so good days but keep moving forward. Keep focusing on the reason you decided to become an entrepreneur and let those reasons continue to fuel your success. Believe in what God has purposed you to do and trust divine wisdom, and guidance. And if you ever feel your motivation getting low fuel up by listening to things or reading things that inspire and motivate you.

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    Source by Dr.

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  • Entrepreneurship Knowledge Services

    Entrepreneurship Knowledge Services

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    When an entrepreneur is starting a business he or she is faced with the requirement of several functions in which they might not be experts. They may know, for example, all there is to know about wholesale distribution but have no idea how to build a website.

    Since most companies are started with very limited funds, many entrepreneurs are reluctant to set money aside to pay for consulting services to fill in their knowledge gaps. For example, many create a website from the many templates available. Some are even free.

    Where the company website is concerned I feel that the use of existing templates is a false economy. The website functions as an online calling card and needs to put your best foot forward. For site visitors, seeing a format that they have seen before can reflect badly on you.

    The amount of time required for the entrepreneur to become proficient enough to develop a quality website takes time away from tending to functions relating to product knowledge, operations and management. Contracting with a website development company could be the solution.

    Websites, to be noticed, must go through the Search Engine Optimization (SEO) process. The purpose of SEO is to improve your website’s chances of ranking high in a search. The mechanism for doing this is complex and dynamic. This again is a very specialized function that is often beyond the capability of the business owner.

    There are functions which may be grouped under the heading Entrepreneurship Knowledge Services that will present the company at its best. In addition to the website and SEO examples these can include Business Strategy Planning and Business Valuation Services.

    Entrepreneurship Knowledge Services is a rich term covering what one needs to know to be a successful entrepreneur. There are other issues to be considered besides knowledge however. Do you have the right temperament? Do you have enough tolerance for risk? Can you acquire the funds to be a success?

    My recent experience is that the cost of business services for the self-employed is going down. One of the reasons is the quality and economy of services from Indian consultants. My experience with two firms in India has been positive. This is simply my experience, and yours can be vastly different, but I got a substantial amount of website design for about $4,000 and SEO for about $2,000.

    Your reaction may be that adding $6,000 to your startup expenses is prohibitive, but by farming this out the entrepreneur should find a quicker path to profitability.

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    Source by John Vinturella

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  • Smart Entrepreneurs Wear Six Hats

    Smart Entrepreneurs Wear Six Hats

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    Entrepreneurs are necessarily optimistic. You need to be, it allows you to see the possibilities around you and act on them.

    However, the downside is that your emotional attachment can blind you to problems that are otherwise obvious to someone who is not as personally invested in the project.

    This is why smart entrepreneurs learn to wear six hats: six "Thinking Hats". Originally defined by psychologist Edward DeBono, the Six Thinking Hats are a structured creativity tool to help you look at a situation from different perspectives, to solve a problem or to foresee and minimize risks before they turn into problems.

    When you "wear" a specific color hat, it gives you permission to look at your problem is a specific way:

    • White Hat: Analytical – What does the data say? Look at the available data, both quantitative and qualitative. What are past trends? What can you extrapolate? Where is the evidence to support your assumptions? Where do you need more data?
    • Red Hat: Emotional – How do you feel about this? Access your intuition, gut reaction, emotion. Talk about your feelings about the situation, where you feel good and not as good. How would others feel about this?
    • Black Hat: Pessimist – What could go wrong? Think cautiously, defensively, why it might not work. Poke holes in the idea, look for the weak spots, all with the intention to identify what needs to be addressed in order to overcome any problems.
    • Yellow Hat: Optimist – What if all goes right? Think optimistically, positively. Imagine all the opportunities, the benefits, the advantages. Reach for the stars!
    • Green Hat: Creative – How can we make this better? Use your creative juices to think "out of the box". Explore weird tangents, unexpected synergies, make it into a "purple cow" (something remarkable that stands out from the crowd).
    • Blue Hat: Process – What do we need to do now? Direct the process of creativity so avoid getting stuck. When in "Blue Hat" mode, step back from the problem and consider if you are giving all of the other hats equal time.

    Entrepreneurs seem to do quite well with the Yellow, Red and Green Hat approaches to thinking about an idea. There is more resistance to the White Hat (analytical) and definitely a big block around Black Hat thinking. Could this be because the Analytical and Pessimist are associated with external control?

    There is nothing to fear from the Black Hat – it can be your best friend. Wearing the Black Hat gets you out of cheerleader mode and forces you to examine your assumptions up close. From personal experience, I know that when a project backfires, the failure can be traced back to an assumption that was not properly tested. Black Hat thinking gives your project real traction by foreseeing the difficulties and encouraging defensive planning. This makes the plan more resilient and improves the probability of success.

    As you explore wearing the various Hats, put on the Blue Hat (Process) from time to time to see if you are considering all the perspectives of your project. Note that the purpose of this thinking exercise is not to assign fault or blame. The mindset of every Hat is to make sure the project succeeds.

    It is great fun to dream big and to reach for the stars. But if you want to make any progress, you need to keep your feet on the ground. Practice wearing the Six Thinking Hats as you plan and execute your business project. This mindset will give you the traction to power your project towards real and enduring results.

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    Source by Davender Gupta

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