Professional Documents
Culture Documents
originated
from
the
French
word
entreprendre which means to undertake.
Irish-French
economistRichard
Cantillondefined it first in hisessay on The
Nature of Trade in General.
Who is an
Entrepreneur?
person
who
sets
up
business
or
schemes
for
providing
infrastructure
and
support
MSME),
National Small Industries Corporation (NSIC),
Khadi and Village Industries Commission (KVIC)
Coir Board and three training institutes viz.,
National Institute for Entrepreneurship Small Business
National
Institute
for
Micro,
Small
and
Medium
Enterprises
(NBMSME)
was
established
by
the
skill
3. Equitable distribution of income
4. Regional dispersal of industries
5. Provides opportunities for development of
technology
6. Indigenisation
7. Promotes exports
8. Supports the growth of large industries
9. Better industrial relations
10. Rural development
Goal Setting
Planning and Organizing
Decision Making
Business knowledge
Entrepreneurial knowledge
Opportunity-specific knowledge
Venture-specific knowledge
Interpersonal skills.
1. Leadership and Motivation
2. Communication Skills
3. Listening
4. Personal Relations
5. Negotiation
6. Ethics
.Personal characteristics.
1. Optimism
2. Vision
3. Initiative
4. Desire for Control
5. Drive and Persistence
6. Risk Tolerance
7. Resilience
Business Plan
A business plan is a document that describes
investors?
2. Executive Summary
- Concisely describe what your business does
- What market need it solves
- Describe your unique success factors
- List out the reasons why your business will be successful
- Highlight your financial projections and amount of money you are
seeking to raise through various sources.
3. Company Overview
- Give a profile of your company
- Answer questions such as:
Where you are located?
When you were formed?
What is your legal entity form?
- Describe the stage of your company:
Beginner
What your company has achieved so far
4. Industry Analysis
- Describe the market in which you are competing?
- How large it is, and what trends are affecting it?
5. Customer Analysis
- Identify who your target customers are and their needs.
- Specify the demographic and psychographic make-up of your
customers.
6. Competitive Analysis
- Identify your competitors and their key strengths and weaknesses
- Identify your competitive advantages
7. Marketing Plan
. Describe your products and/or services
. Desired brand positioning
. Detail your promotions plan
. Discuss your distribution plan
8. Operations Plan
. Describe the key daily operational processes your organization
needs
. Identify the milestones you need to accomplish over the next 1-3
years
9.ManagementTeam
- The Management Team section must prove why the key company
behaviour.
3. It helps to select suitable sales promotional
techniques.
4. It suppliesmarket-related information.
5. It helps a company to evaluate its marketing
performance.
Operating Plans
Operating plan is the section of your business
Financial Plans
A financial plan explains what your business can
Types of Entrepreneurs
1.
2.
3.
4.
5.
6.
Innovating entrepreneurs.
Adoptive entrepreneurs.
Fabian Entrepreneurs.
Drone Entrepreneurs.
Entrepreneurs by inheritance.
Forced entrepreneurs.
cash flow.
The financial history of the company will help it
easier to secure loans, and attract investors.
You will existing customers, goodwill, suppliers,
contacts, staff, plant, equipment and stock.
Your product is established in the market, so
publicity effort is reduced.
The staff there will be having their experiences to
share.
Business Opportunity
A business opportunity can be defined as a sound
business idea which forms the basis upon which
an entrepreneur makes an investment decision.
Valuation of a business
Business valuation is process and a set of
procedures used to
estimate the economic value of an owners interest.
Elements of business valuation
1. Economic conditions.
2. Financial analysis.
3. Market Approach
Franchising
Franchising is the practice of the right to use a
firms
business model and brand for a prescribed period
of time.
What are the Franchisees perspective?
1. A documented tested and profitable business
idea.
2. Support, counselling & education.
3. Economy of scale.
4. Network of other practitioners.