I have an idea that in the future I would like to run my own, nice hotel in NYC. I’ve currently got one more year of college left in the UK. Would it be wise for me to go to university? Especially as the idea has never appealed to me? Surely I wouldn’t need to if I was to become an entrepreneur.
College will help. When you ask someone for the tens of millions of dollars that you need to build or buy the hotel and to hire the staff and do the advertising, they will want to know about you. "College dropout" does not rhyme with "large investment". Unless you can build yourself up with money borrowed from your family, friends, and fools (the three f’s), you’re going to need real investment.
They will want to see that you have business training, hotel-management training, and experience with both. You want to have your own hotel? That’s not a reason that will get me to invest millions. I have to believe that you will turn my millions into more millions. If I invest in hotel ventures, I know lots of hotel managment experts.
You’re almost done. Finish school. It will help you get the backing you need for your startup.
I am constantly what are the following steps that an entrepreneur should take whenever he or she pursue this regarding the plan, such market research and finance? In addition, explain what you would if you had an idea (invention) and wanted to make it a reality? What steps would you actually take?
Talk with someone at SCORE at the Small Business Administration in your area; their phone number would be in the white or yellow pages or on the first page prior to the local numbers. You can also find them on the web. They will tell you about a plan and point you in the direction of start-up business classes.
An invention costs money (I think it’s $10,000 and needs to go thru or should go thru an attorney because before the government will allow it the records have to be researched so that there is not another invention the same as yours that’s already on record).
Men pay less health insurance, and women pay less car insurance, both because they cost the insurers less. Male owned businesses cost insurers 60% more, yet women have to pay the same premiums as men, effectively having to pay for men’s risk taking. Why?
Also, Surely Rewarding women’s superior business leadership would be better for everyone, as it also means jobs in female owned companies are safer. Presuming all these statistics can be verified? Do you agree that this should be changed, and women should pay less to match what they actually cost the insurers?
Where in the world do you get the idea that male owned businesses cost insurers 60% more? I haven’t seen anything AT ALL to support that information. Or rather, I’ve never seen any indicator that gender of majority stockholder has ANY bearing on future claims.
MOST businesses are set up as corporations or LLC’s. A fair amount of contractor businesses, are set up under the name of the spouse, for "shell" reasons. Corporations are genderless.
Your statistics cannot be verified . . . because I think you made them up. I’ve been working in commercial insurance for over 20 years, and line of business and SIC codes are a much more accurate predictor of future loss. I’ve never, EVER seen, for example, any evidence that a roofing business owned by a woman, has fewer or smaller claims than a roofing business owned by a man.
I am 15 years old, I have always been interested in making money. From making lemonade stands, mowing laws doing paperwork for my dad’s company. I have always had the entrepreneurial spirit in me. After I gain an education I want to start my own business. The thing is, I am not particularly good at anything. You hear about Mark Zuckerberg and Sergei Brin who were programming geniuses at a very young age. Or Warren Buffet who was an investing prodigy. I am not a prodigy, or particularly talented at anything. I am trying to learn to program because I enjoy it and find it interesting but then I hear about people like Mr.Zuckerberg who started at age 6, I feel like I could never be anywhere close as good of a programmer as he is. I feel like no matter how much work I can ever put into it, people like Mark or other good programmers will ALWAYS have an early start or natural talent over me. I read something on a forum, from a statistics major at UCLA he said he made a "simple" program on python ( the programming language I am trying to learn, which is my first) that figured out when (within 2.5 hours) someone would get a certain post ID on their post. He isn’t even majoring in computer science and he is programming better than, what I feel, I can ever do. I have always lived with the notion that if you are not the best at something, what is the point if even trying it. It was not taught to me by my parents or any authority figure it is just how I have always felt. What is the point of me trying to become successful, if I am not "the best" at anything? Every time I try to think of what kind of business I would like to start I get really inspired and try to research majors in college or degrees, then I look at testimonials about people successful in that field and I feel like I could never reach there level no matter how much I try because I will be just another "programmer or electrical engineer that tried hard". I feel as if I could never become the "child prodigy programmer that also tried hard." Should I just go the boring route with the boring degree I am not good at and live the same unsuccessful and unfulfilled life everyone else has? I don’t see any other route for me because I do not have anything unique or extraordinary to provide as a product for people to buy.
For starters, you need to worry less about being a famous entrepreneur and more on being a teenager. You need to remember that almost all stories about these famous entrepreneurs are very exaggerated because it makes people idolize them even more. 99.99999999% of people who become successful business people pick up the skills they need in university or in their careers once they leave university. The single most important thing you need to focus on is to read and learn as much as you possibly can over the next 10-15 years of your life. Through that process you will find things that make you excited and want to learn more about. It may be business, science, math…who knows. Any of these skills can make you a famous entrepreneur, so you need to give it some time and figure out what interests you. It is less about being a prodigy, and more about passion, creativity and work ethic.
I am a successful entrepreneur who grew up with very little, put myself through university on student loans, then started a business at 35. There is no rush, just work on the skills you will make you a better entrepreneur:
*try to get good speaking in front of people
*study good sales techniques as any small business owner is a salesman
*have a passion for learning – understand subjects like accounting, economics, and IT. You don’t need to be an expert, just familiar
*be decisive in everything you do. Making wrong decisions is okay, just always make the best decision you can based on what you know at the time. The people who cannot make decisions (right ones or wrong ones), are not entrepreneurs.
The fact you want to be an entrepreneur makes you extraordinary, don’t ever give that up and you will be fine.
Please answer it.. The deadline of this project is on January 11(Philippine Time). I need the answers tomorrow (Jan 10) because on Jan. 11, I have these consecutive classes from 7:00 to 11:30. My Entrep. subject is 10am.
I have this project in my Entrepreneurial subject which is to interview an Entrepreneur. The Businessman whom I gave the questionnaire didn’t answer it. That’s why I have this problem.
If you are interested then please answer the following questions and send it to my YM account and GM account: salah082392@yahoo.com and salah082392@gmail.com
Here are the questions:
1.What course did you finish?
2.How did you decide to choose entrep. as your career?
3.How long have you been in the business?
4.Is this your first business? If not, how many businesses do you have?
5.What products &/or services do you offer?
6.Why do you think that there would be an opportunity for you to develop this type of business/
7.How did you come up with your business?
8.Who motivated you to enter this profession?
9.What external and internal influences helped you with this decision?
10.Who has been your greatest inspiration?
11.How do you find people to bring your organization that truly care about the organization the way you do?
12.How important have good employees been to your success?
13. How do you define success?
14.What is the best way to achieve long-term success?
15.How far are you willing to go to succeed?
16.To whom do you most attribute your success?
17.What would you say are the top skills needed to be a successful entrepreneur?
18.What sacrifices have you had?
19.What are some biggest mistakes you have made?
20.How can you prevent it of do damage control?
21.What have you learned from it?
22.What is you greatest fear?
23.How did you manage it?
24.What has been your most satisfying moment in business?
25.Where you see yourself and you business in 10 years? 20 years?
26.How did you finance your business?
27.What have been your most effective sources of financing over the years?
28.Did you find investors for you business? If so, how?
29.How many employees do you have?
30.How is you business different from others?
31.How has economy affected your business?
32.If you were to start another business, what might it be?
33.Do you believe business has any obligation to make the world a better place?
34.What plans that you have to do to expand your business further?
35.What pieces of advice would you give to college students who want to become entrepreneur?
NOTE:(NECESSARY) take a picture of your business including you(if you want),include your contact # and email and your address…
Tnx alot.!!! Any reply will be highly appreciated. Thank you again!!!
when he/she could be running his/her business and making money
Isn’t it considered ignorant stereotyping to bash groups of people…especially ones that you don’t even know?
Franco, my brother is a photographer. He works with 12 others. They recently became incorporated.
Why are you entitled to bash his company, especially being that you don’t even know him?
How old are you?
You can’t in my opinion as it is very bigoted and narrow minded to do so
Like with car insurance. Men owned businesses cost insurers 60% more than female owned businesses, so shouldn’t women have to pay less, instead of being made to pay as much as men, effectively having to pay for mens worse business sense? Women do have to pay higher health insurance.
What do you think?
sure, if you agree that men’s health insurance should be cheaper because women’s health care costs more.
How to social problems?
http://www.sse.org.uk/
this link will answer your Q and give examples of the how and why
"A research study shows that entrepreneurs managing small businesses in Pakistan consider formal business planning a mere wastage of their precious time."
Do you agree or disagree, support your argument with solid reasons.
Yes it is true that entrepreneurs managing small businesses in Pakistan and wastage of their precious time. As we know that the entrepreneurs of pakistan effort to become wealthy overnight and without having to move up the ladder gradually. This overconfidence and lack of understanding for proper business techniques causes the demise of many entrepreneurial ventures.
If we see that there are large number of smaal businesses in pakistan and in many cities womens work at home and work as a business but if these womens enter into the market and an increasing number of women are fighting for their right to enter into the business world, entrepreneurship amongst women is giving rise to some excellent business ventures.