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Tag: Entrepreneurial

  • Social Entrepreneurship – Now is the Time

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    Social entrepreneurship is a major area of interest in many social and civic organizations and has a significant impact on many areas of society. During the past decade economic resources have become more difficult to acquire and society has continued to exhibit economic and cultural decline. Concurrently, communities are in need of initiatives that will enhance their financial viability and programs that will enhance the overall viability of the population.

    Social entrepreneurship initiatives are ventures that can serve as a method of increasing the social value of a community, organization or cause while enhancing the financial viability of a not-for-profit organization. With this being stated, social entrepreneurship has been defined in different ways by many different theorists. Gary McPherson, Executive Administrator of the Canada Centre for Social Entrepreneurship, states that social entrepreneurship involves various individuals working toward meeting social and economic goals simultaneously; while Bill Drayton, CEO of Ashoka, defines social entrepreneurship as a term coined to describe “individuals who combine the pragmatic and results oriented methods of a business entrepreneur with the goals of social reform.”

    A more basic definition of social entrepreneurship states that it is “the process of using entrepreneurial and business skills to create innovative approaches to social problems.” Therefore, it is a methodology that is presently being used to resolve community and societal concerns globally. Social entrepreneurship as an area of specialized entrepreneurship is not defined by the same titling in every culture. For example, in Latin America countries social entrepreneurship initiatives are referred to as “Micro Enterprise.” In India the same program would be identified as a “Social Mission.” Though termed differently in various regions, social entrepreneurship initiatives are being implemented to solve specific societal and community concerns by focusing on the needs and resource availability within specific geographic regions.

    Social Entrepreneurship in Education Throughout the United States, many top tertiary level academic institutions are enhancing their business programs by including a curriculum that caters to the study of social entrepreneurship. In 2003, the Center for Responsible Business was launched on the University of California Berkley Campus. This subsidiary of the Haas School of Business was implemented with the intent of training students to be more principled and socially responsible members of society through attending “the preeminent educational institution in area of Corporate Social Responsibility.” Stanford University also has established a Center for Social Innovation as a part of its graduate school of business. This center was founded with the mission to “build and strengthen the capacity of individuals and organizations to develop innovative solutions to social problems for a more just, sustainable and healthy world.”

    In 1993, Harvard Business School started its social enterprise program with its mission of “generating and sharing knowledge to help individuals and organizations to create social value in the not-for-profit, private and public sectors,” and the University of Miami has refocused its business school curriculum to include coursework in the areas of ethical-decision making, social entrepreneurship and community engagement with the primary focus being to expose students to various areas of civic engagement while concurrently teaching them leadership and team building skills.

    Tertiary level institutions, including Duke, which has established a Center for the Advancement of Social Entrepreneurship as part of its Fuqua School of Business, and Columbia University where the research initiative on social entrepreneurship is embedded in its school of business, have also made strides to enhance the study and education of those seeking to venture into areas of social entrepreneurship and social venture implementation. The Association to Advance Collegiate Schools of Business-International (AACSB – International) has identified over twenty-four tertiary level institutions that have included social entrepreneurship as a part of their business college and or business curriculums.

    With social entrepreneurship being perceived by many as a new way of stimulating social change, Idee Winfield believes that the implementation of community-focused service learning projects is the first step in exposing youth to the various attributes associated with social entrepreneurship. Through community involvement, youth will begin to visualize and experience the various social issues within their community and envision ways to solve these problems. Winfield states that social entrepreneurship should be promoted in primary and secondary education, and coursework should be adjusted to allow students to “see how abstract socially focused concepts can have real world applicability.” Jeffrey Soderborg, a member of the Kauffman Center for Entrepreneurial Leadership Clearinghouse on Entrepreneurship Education, is also an ardent proponent of social venture education who believes that social entrepreneurship would be more readily accepted if youth were exposed to information expounding the laurels of these initiatives during their primary and secondary academic years.

    As youth expand their horizons through the establishment of entrepreneurial efforts, knowledge and exposure to information about the process involved in the establishment of entrepreneurial business effectively plays a major role in the rate at which business entities are established. A study focusing on entrepreneurial interests among black youth ages 14 to 19 identified that 75% of the youth surveyed had interest in becoming entrepreneur. The study also found that these minority youth believed that more information about entrepreneurship should be presented through their schools. They also believed that entrepreneurs have a responsibility to reinvest in their community.

    Corporate Social Responsibility

    Personal values often serve as the justification for entrepreneurs to focus organizational efforts on socially focused ventures. The organizational decision to forgo pursuing financial gain with the intent of using the corporations’ profit resources to enhance a community is often referred to corporate social entrepreneurship. Corporate Social Entrepreneur (CSE) is a term used to describe corporate initiatives whose primary focus is to enhance a social concern and whose secondary focus is financial gain. The corporate social entrepreneur differs from the financial profit seeking entrepreneur in the area of decisions made that affect the community and environment in which their organization functions. Research identified that in corporate social entrepreneurship business acumen serves as a factor in the success or failure of social venture initiative implementation. Research identifies that success factors associated with the implementation of social responsibility initiatives were linked to whether the entrepreneur exhibits behavior that is moral, amoral or immoral.

    The amoral entrepreneur would pursue initiatives only if they were deemed acceptable by the organization as a whole. The immoral entrepreneur implements initiatives based on what can be potentially gained for self as well as for the stakeholders, while the moral entrepreneur would pursue social responsibility initiatives based on what was in the best interest of the organization. Individuals identified as corporate social entrepreneurs are individuals who are more active in community activities and are actively involved in social responsibility efforts. Corporate social entrepreneurs also are more likely to implement social responsibility initiatives based on an organization’s long term objectives.

    While many corporations are looking for ways to increase their social responsibility efforts, in some regions corporate responsibility efforts are not progressing. A policy paper, “Corporate Social Responsibility in Latin America and the Caribbean,” documented that corporate social responsibility activity in this region has “stalled.” The reason for stagnation in this region is “minimal government involvement” and the lack of “private sector involvement.” It was also identified that initiatives to implement programs focusing on social responsibility are often initiated outside of the market, and then subsequently not embraced by stakeholders who reside within this geographic region.

    Corporations are continually looking for ways to increase corporate advantage through their social responsibility efforts. While proponents of corporate social responsibility believe that corporations are obligated morally to engage in efforts to enhance social, community and environmental concerns, many stakeholders believe that social involvement should only be initiated if the efforts are going to strengthen the organization’s image, brand, moral or stock value. With this in mind, corporations have separated social issues into specific categories.

    These categories are social concerns that are general, social concerns that are value chain based and concerns that focus on social dimensions of competitive contrast. Generic social issues are identified as social concerns that do not directly affect the company’s operation and do not have an effect on a company’s competitive advantage. Corporations are least likely to get involved or invest in projects that focus in these areas because they will not receive a high value of return on their involvement. Value Chain Social Impact issues can significantly affect a company’s operation and can have an impact on the way a company conducts business. Corporations are more likely to be involved in value chain concerns, but only after conducting due diligence studies to ensure that a return on investment will be achieved over time.

    Social issues that affect a company’s financial profitability or serve to enhance or increase a company’s competitive edge are likely to be areas that a company will invest in because of the direct impact that these initiatives will have on the company’s overall viability and stability. An example of a social dimension projects is General Electric’s investment in under-performing high schools throughout the country. General Electric believes that through investing financial and professional resources in under-performing high schools in areas where they have substantial financial investment, they are investing in enhancing a community, as well as directly increasing their future employment prospects.

    Whole Foods Market is an organization that has taken control of its social value position through purchasing products from local farmers. Also, Whole Foods maintains strict controls over all of the products produced and sold in all of its locations. They even have extended their social and ecological efforts through offsetting the use of in-store electricity with the installation of wind conversion generators, converting their trucks to operate on bio-fuel and trucking spoiled produce to regionally located compost sites. Though the investments in these technologies may be costly at the onset, the long term financial, civic and market exposure benefits far exceed any initial costs incurred.

    In the area of corporate philanthropy many corporations are at a loss. They continue to be involved in the conflict between philanthropic giving and investor requests for increased profits. For this reason many corporations engage in context-giving programs. Context-giving programs are programs that are defined as allotting resources to specific projects that will enhance the community while simultaneously enhancing the corporation.

    Examples of context-giving initiatives include the Cisco System Networking Academy, which trains computer network administrators and provides job opportunities to those who complete the program; the DreamWorks SKG film production program that trains low-income individuals in occupations that are needed in the film and entertainment industry; and American Express Travel and Tourism Academy which trains high school youth for careers in the hospitality and tourism industry. Corporations that invest in corporate-giving social venture programs are concurrently gaining positive return on their social investment, improving the economic climate of the communities where they are located and gaining positive exposure for their organizations.

    At times social ventures do not have the intended impact on the community. A study focusing on the impact of community focused business ventures found that businesses started with the intent of enhancing a community often lose focus by becoming focused on profitability and competition. Competition and self-focused motivators were identified to be factors that played an additional role in the impact and economic role that entrepreneurial ventures have in community settings.

    While many foundations, trusts and philanthropic organizations, accumulate and distribute resources with the intent of providing services to enhance specific community or social causes, many of these organizations are looking for ways to gain public exposure for their efforts. Organizations also attempt to leverage their gifting efforts through seeking not-for-profit organizations that are willing match the funding received. The success of funded programs is evaluated through performance outcomes and indicators, and through promoting the organization’s work through success stories provided by program clients. These methods are viable ways for funding agencies to acquire value and exposure through their philanthropic efforts and simultaneously continue their efforts to enhance the communities in which they invest.

    With the social philanthropic efforts of Warren Buffet and Bill Gates gaining a high degree of attention, and many leaders engaging in activities to promote social advocacy, corporations are seeking ways to also gain exposure with social entrepreneurship. Social entrepreneurship from the corporate perspective can be defined as corporate social initiatives used by a corporate entity as vehicle to show support for social causes. In recent years, many Fortune 500 companies have implemented social ventures with the intent of enhancing their corporate image through providing funding for various social causes.

    McDonald’s is one such company that has funded social causes for many years. McDonald’s primary social venture is the Ronald McDonald House Charities. The Ronald McDonald House provides lodging for the families of adolescents, ranging in age from birth to 18, who are receiving critical care for illness in communities that are away from their community of residence. The Ronald McDonald House allows families to reside in these temporary living facilities throughout the child’s period of treatment at no charge.

    The Federal Express Corporation also funds programs focused on the implementation of socially responsible programs. FedEx is a supporter of St. Jude’s Children’s Hospital and has been acknowledged by Reader’s Digest as one of “Americas Best Charity Minded Corporation.” Federal Express has also been recognized for providing funding for numerous community and civic organizations, including March of Dimes, Heart to Heart organization, an organization that focuses on delivering food and health resources globally, the United Way and the National Civil Rights Museum. These are just a few of the charitable initiatives that allow Federal Express to present itself as a socially conscious organization.

    Virgin Mobile has partnered with Youth Noise, a not-for-profit organization that brings youth together for networking and brainstorming opportunities, and Stand Up for Kids, the largest all volunteer not-for-profit organizations in the United States, to implement an initiative to expand its corporate social responsibility activities. The project involves recording artists donating ring tones to Virgin Mobile and through partnership agreements, 5% of the proceeds received through ring tone sales are donated to various “Virgin Mobile Charity Partners.” This initiative, established in June 2006, is being positioned to raise over $250,000 annually.

    For social ventures to gain global acceptance, corporations need to become involved in ventures that allow employees and consumers to see the social, community and external benefit of these ventures. This process is identified in countries south of the United States, where the concept of social responsibility is one that has been embraced by many but implemented by few. Many government organizations expect non-government, or private organizations to take responsibility for ensuring the stability and longevity of the resources throughout this region while the private sector is looking toward government agencies for intervention.

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    Source by Paul Van Putten

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  • Entrepreneurship – Benefits Of Taking An Entrepreneurship Course

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    Are you tired of your regular job? Are you thinking of starting a business of your own? Do you want to enhance your ability to create wealth? Do you want to be your own boss? Do you want to have control over your decisions? Are you a risk taker? Do you have a high expectation of yourself? If the answer to the above questions is yes, then all you need to do is to channel your energy in the right direction.

    While passion is important for any business venture, the know-how is equally important for success. Many entrepreneurs who started out very passionate end up losing steam due to the fact that they do not have the proper entrepreneurial skills to make their business succeed. Entrepreneurship education is therefore key to a business growth and success.

    According to research, entrepreneurship education contributed to the growth of firms especially smaller emerging firms. On average, emerging companies that employed entrepreneurship graduates had greater than five times, the sale and employment growth than those that employed non-entrepreneurship graduates. This means that taking an entrepreneurship course would definitely lead to an increased sale of your product or service.

    In addition, it was observed that larger firms paid entrepreneurship graduates significantly more than they paid non-entrepreneurship graduates. In the United States, entrepreneurship graduates working for large firms earned approximately $23,500 more per year than did other business school graduates. This all goes to show the relative importance of an entrepreneurship education.

    So as an individual seeking to start a business venture, taking an entrepreneurship course would benefit you and your business in the following ways:

    • It will enhance your ability to create wealth from your own business
    • It makes you become a champion of innovation.
    • It gives you the ability to create greater opportunities for yourself with advancing technologies
    • It makes you self-sufficient and enterprising
    • It gives you community understanding skills which is good for your business
    • It enhances your business management skills
    • It gives you an orientation to change that can help your business keep up with the ever changing times
    • It gives you a better understanding of the market economy that your business must thrive in
    • The education obtained leads to your ultimate personal growth
    • Your decision making skills are improved
    • It expands your creative thinking

    As a result of these outlined benefits, many experienced leaders, economists and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local and global scale.

    TAKE AN ONLINE ENTREPRENEURSHIP COURSE TODAY

    It is interesting to know that you can take this amazing course online. As an entrepreneur, leaving your business to attend a traditional institution of learning might not fit well with your plans. If that is your situation, then be rest assured that you are covered. With the steady growth of online education, a lot of online institution of repute that offer this course are available to choose from. In fact one unique institution stands out – The Swiss E-learning Institute. Apart fro other amazing benefits you are bound to enjoy, this institute also offers entrepreneurship students the opportunity of earning passive incomes just by enrolling and activating this course. Find out more by visiting the link on the resource box below.

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    Source by Kelechi Nwachukwu

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  • The Age of The Information Entrepreneur

    The Age of The Information Entrepreneur

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    This has been changing rapidly, and now, an increasing number of entrepreneurs are starting to use e-books as a method of catapulting themselves into the limelight, using the option to become influencers, and gain a following through sharing of information. The ones who are quite savvy about how they do this, loop the system back and use their e-books as part of a sales funnel, whether it’s apparent or not.

    It used to be the case that the task of writing a book was tantamount to embarking on a long and arduous journey, that required long periods of time, great planning and dedication, an agent, the approval and acceptance of a publishing house, and more. This is no longer the case… Anyone who has wanted to write, can… and you can get your book published and ready to sell in less than 48 hours after it’s written. And no, it doesn’t take a great level of skill or any secret or specialised knowledge… I’ve done it, and have helped others do the same just by following a few simple steps, and using more simple steps have gotten books to #1 ranking spots – for some of them, without even a review to reassure buyers, (though I wouldn’t recommend this). So, if it’s that easy, why isn’t everyone doing it, and why aren’t all entrepreneurs who have published online have booming businesses?

    Well, in the answer lies what’s key… it’s not enough to simply write, what’s important is that you write content that others will find useful, and want to read, and more than that, essential for success is using that content in the right way. Let me expand…

    1) Whatever your entrepreneurial niche, learn what it is that people want to know more about.

    2) Write about this, keep it clear and simple… often short guides will get you further than long, complicated books.

    3) Publishing is easy, get your books on Amazon.

    4) Consider discounts and freebies… remember, it’s about exposure, publicity, and looping people back to you!

    5) Build up a database of everywhere you can promote your books. Take the time to research the social media groups, blogs etc. Ensure that they’re appropriate to your niche.

    6) Take the time to promote your discounts and freebies, and be honest and genuine about what your book delivers, and why people should get it.

    7) In your books, direct people to your website, subscriptions, other books etc.

    8) Always OFFER QUALITY & VALUE, and when you are looping people back to you, it should be to offer more value. Don’t use your books as a hook, only to steer people to an offer that isn’t worth the money or time they part with in exchange for it.

    9) The more quality and value you offer, the more repeat customers you’ll gather.

    10) Include snippets and tasters of your content on social media, blogs, forums etc.

    11) Repeat… remember, if you are choosing to be an influencer through information, you have to keep at it.

    And that’s it, in a nutshell! It is an era when anyone can be an author, so use your knowledge to your advantage!

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    Source by Noleen Mariappen

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  • Proven And Profitable Money Making Ideas

    Proven And Profitable Money Making Ideas

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    With an entrepreneurial spirit, perhaps you might be thinking about money making ideas that have been proven and are profitable on the internet that you can use to make a living with. Online business is still an evolving tool to earn money. Everyone has predicted a major tech crash as a matter of fact it’s already happening.

    According to Hostingfacts.com in 2017, “there will be more internet traffic than all prior internet years combined. Wi-Fi and mobile-connected devices will generate 68% of all internet traffic in 2017.”

    More statistics show that “worldwide retail e-commerce sales will reach $1.915 Trillion in this alone according to Emarketer.com. There are a number of ways by which people can make money online.

    Internet businesses provides relaxation and comfortability to people who run their own business while sitting in their homes or traveling the world. E- Commerce refers to the online functioning of businesses in which all of the transactions are accepted by means of the World Wide Web.

    Online sales in the United States are anticipated to reach $523 billion in the next five years. This is up 56% from $335 billion in 2015, and mobile devices are expected to be a key leader in that growth, Forrester Research Inc. says.

    The Census Bureau of the Department of Commerce announced “that the estimate of U.S. retail e-commerce sales for the third quarter of 2016, was $101.3 billion, an increase of 4.0 percent from the second quarter of 2016. Total retail sales globally for the third quarter, was estimated at $1,212.5 billion, an increase of 0.9 percent from the second quarter of 2016.”

    With the collapse of the tech bust in full swing, should you even attempt entrepreneurship online, let alone a new business launch in 2017? My answer? Absolutely yes.

    On the internet, there are unlimited things that can be done to earn money. It is all up to the individual how much they can profit from these online opportunities. The trend is constantly evolving with innovative business ideas.

    The start of a new year means great interest in new and exciting things, as we look forward to the year in the making. The year 2017 is also likely to see some changes with a few money making ideas not being in demand and new ones harvesting up.

    Learning how to make money on the internet with an e-business is one of the most proven and profitable money making ideas dominating the economy. Facebook now has 1.55 billion active users and 2.9 billion Google searches are made every day. With this data, there is endless opportunity for the ordinary person looking to create money online.

    In this article, I’ve researched a few of the businesses that are going to be profitable for the next 5 years. While tech may be on the decline, the world continually has room for proven, profitable and innovative products as well as services.

    Proven & Profitable Money Making Ideas

    Blogging

    If you have a particular subject that interests you and you are passionate about it, then you can start a blog around such topic. Blogging is one of the fastest growing business trends on the web and the sweetest thing is that it is an information based business.

    Many people in the current world are getting money by having their own blogs and websites. Generally, on these blogs and websites, they are putting thought-provoking and valuable information that interests other people. The science is simple; the additional number of visitors the more money you can make via advertisement and other revenues.

    This works much like television where the more viewership means more advertisements and at a higher rate. This is one of the most well-known and informal techniques of producing income online and it doesn’t seem to be going away anytime soon. Don’t worry about technicalities, programming, etc. You also won’t need to invest a dime to get started as there are free platforms you can utilize like Blogger and WordPress being the most trusted blogging platform since 2004.

    E-commerce Store

    Another proven and profitable idea to start an internet business is to maintain an online store. You can provide products to your customers online. Yes, you can set up an e-commerce or retail store online and you can start this online business from home without even owning a single product. You can sell virtually anything ranging from books, clothes and electronics to household item through wholesale drop shipping or by setting up an affiliate store with Amazon or eBay.

    You may even sell anything from customized cakes to used items to even new products you created on your own. With this kind of business idea, people primarily receive payment via credit card or PayPal accounts. It totally depends upon you as some people prefer to collect payment at the time of delivery of the products.

    In the online store, you can provide a wide range of products in one place and keep the customers engaged with new products or services. On the other hand if you are creating products from scratch, you have to keep up good relationships with your suppliers so your business can be successful.

    Affiliate Marketing

    To become an affiliate marketer means that you will be promoting other people’s products and services through a blog or store online. How it works is whenever there is a sale, you will get a commission. The most stimulating fact here is that you don’t even need a dime of your own money to start it and you get to partner with some of the biggest enterprises in the world. The first venture I would recommend you to start online is your own affiliate marketing business.

    Internet Marketing Services

    Servicing people to help drive visitors to their websites can be an outstanding online business with a strong profit potential. Examples of services you can provide include pay-per-Click (PPC) advertising services, blog marketing services, article marketing services, guest blogging, link building service, etc.

    Doing business on the web can be challenging because things often change quickly online. This idea allows you to help other online entrepreneurs such as yourself, keep up with the latest trends in internet marketing.

    VLogging

    This is comparable to a blog, but in video form. Basically turn your video camera on, feel free to use your tablet, and just talk! The best vloggers talk about a specific focus or niche. Vlogging about a topic that interest tweens or teens is most likely to get a big following fast.

    Some popular topics include makeup, fashion, music, gaming and how to videos. The strategy to making money with these vlogs is gaining a large following and then receiving sponsorship on the platform that you publish the videos on, such as YouTube or Vimeo. You can also make money via advertisement.

    E-Book Publishing

    The information business allows you to identify people’s problems and provide a solution in the form of an e-book. Any style writing on any topic can be used with this method. If you love writing and you possess some marketing skills, then you can venture into writing self-published eBooks.

    Educational Products

    People will always be willing to pay for education. A good example is university education. A public four-year college costs around $20,000, and a private college can make an income of $50,000 per year. In spite of the outrageously high prices, people are eager to give out the money. Why? Because a college education is worth it. Right? Well, most of the time it is.

    However, some disagree, and with recent improvements in the education platform, the traditional college model is being dismantled or unequivocally disrupted. The cause of these interruptions are startups like Udemy and Teachable, these platforms allow people to share their knowledge and profit from it.

    You don’t need a platform to sell your knowledge. You can self-publish a book, create a video coaching session, or teach others how to make money. People will gladly pay to learn a new skill, shape their lifestyle, make new money, impress friends with their knowledge, and change their life in significant ways. If you have something to offer to others, then start teaching.

    Graphic Design

    There are lots of graphic designers on the web offer free and paid services. However, if you plan to thrive in this capacity online, aiding a specific niche target audience will be the most profitable for you. Suppose you’re focused niche is in music and you have a good graphic design skill, you can launch an online graphic design business that focuses on graphic design for musicians or singing artist. You can also choose to focus on infographic designing, e-book cover design, album cover designs, etc.

    Implementing your ideas as an online business is a great way to start your business if you are low of capital. It is necessary that you have a proven and profitable online business idea to start your business. Starting and operating an online business is the new normal these days and continues to rise in popularity.

    If you have any ideas that can be transformed to fit the online business model then by all means do your research and get started the opportunities are endless!

    If I’ve failed to mention any other profitable ideas be sure to leave them in the comments below.

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    Source by Jamie Clay

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  • New Book Offers Daily Lessons for Developing Entrepreneurial Mindset

    New Book Offers Daily Lessons for Developing Entrepreneurial Mindset

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    In The Entrepreneurial Way, Jacob Busani takes readers on a one-month journey through the world of entrepreneurship. Each chapter is to be read on a different day over the course of thirty days, and each day is devoted to a different topic relevant to being an entrepreneur. The book is intended for the busy person who may only have five or ten minutes a day to read, so each chapter is only a few pages long, but it brings a topic to the forefront of the reader’s mind, offers inspirational quotes to support the topic, and then a series of exercise questions so the reader can take action on that day’s topic.

    The book opens with what may be the most important topic of all: Mindset. Busani begins by quoting Henry Ford’s famous saying, “Whether you think you can or you think you can’t, you’re right.” Busani says Ford was absolutely right in this statement. If we wish to be entrepreneurs, we must take control of our minds. We have to believe we can be entrepreneurs and we have to learn to be our own bosses.

    Numerous other topics follow. For example, Day 2 is about Vision. In it, Busani describes the importance of communicating to customers why you do what you do so you can bring the best experience to your customers. Day 8: No Guarantees discusses the importance of working because you are passionate about what you do and you believe in your business. Busani reminds entrepreneurs that, especially in the beginning, 80 percent of what they do they will not be paid for, but those who will only do what they get paid for never get rich. If you put in the time to build your business, eventually you will reap the rewards. One of the most important topics is Day 10: Focus. Here, Busani dismisses the myth of multitasking because it destroys focus and also results in tasks taking more time. He instead tells us to focus on one task at a time if we want to make progress on our goals and manage our time properly. Other daily topics include Day 13: Commitment, Day 15: Procrastination, and Day 25: Leadership, where Busani recommends, “Always say, ‘I want my people to win more than I want them to win for me.’ That’s valuable. There’s a lot of ROI (return on investment) in seeing your people succeed. Sometimes, it means having them leave the company to seek their own passions.”

    Some statements like that last one may be surprising, but as a former manager of a call center and as an entrepreneur myself for a dozen years, I completely agree with Busani. The more you support your employees, the happier and more prosperous everyone will be. Therefore, I appreciate that throughout these pages, Busani offers practical and honest advice, based on experience, that will definitely benefit anyone who embraces it.

    Embracing and applying the material is made easy for readers because each day is followed by a short exercise. The exercises help readers think through what they have learned from that day’s lesson and move forward into taking action to succeed as an entrepreneur. For example Day 20: Finding the Right Mentor asks you to think about in what ways a mentor might help you. Then it asks you to list five mentors in your field and do some research on each of them to see how they might assist you. Day 26: Residual Income asks you to brainstorm ways you could come up with residual income and then outline a plan for doing so. None of the exercises are overly taxing on the brain, but rather, they set the brain to thinking in an entrepreneurial way, and ultimately, the result will be that such thinking will become habitual.

    Finally, each chapter ends with several wonderful inspirational quotes. Yes, Busani quotes famous people like Thomas Jefferson, who said, “I find that the harder I work, the more luck I seem to have” and Mark Twain: “Keep away from small people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you too can become great.” But my two favorite quotes in the book are actually both by Anonymous: “You can’t have a million-dollar dream with a minimum wage work ethic,” and “No matter how busy you are, or how busy you think you are, the work will always be there tomorrow, but your friends might not be.” Yes, work/life balance is also a topic in The Entrepreneurial Way-and one of the most important for entrepreneurs who tend to be workaholics.

    I encourage you to take the journey of The Entrepreneurial Way. Because reading this book and applying its concepts will only take you five or ten minutes per day, your investment will be minimal, but the return on that investment will likely be beyond measure.

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    Source by Tyler Tichelaar

    Views: 0

  • 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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