definition of entrepreneur

Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. The American Heritage Dictionary defines an entrepreneur to be "a person who organizes, operates, and assumes the risk for business ventures."
These are rather abstract concepts for a person just beginning to consider whether they ought to start a business rather than take a job, or leave a secure job for a chance at greater self-fulfillment. Let us try to refine our understanding of entrepreneurship by asking some more specific questions.Is everyone who runs a business an entrepreneur? Many would not consider the newspaper carrier, shoeshine person, and grass cutter entrepreneurs, though these are often the youthful pursuits of those with an entrepreneurial bent.
Does it matter whether the business is merely part-time? Whereas some part-time activities are basically hobbies, or undertaken to supplement income, some entrepreneurial ventures can be tested in the marketplace on a part-time basis. The path to an entrepreneurial venture might begin by earning a salary in the business one expects to enter, while learning more about it, and waiting for the opportune time to go out on one's own. This time can be used to develop a support network, professional and personal, and generating ideas to "bounce off" people whose opinion one respects.
At what scope does self-employment become a venture? The primary objective of many self-employed people is merely to employ themselves (and others if necessary) at a moderate to good salary; some are even willing to eke out a living to do what they enjoy. This approach is often referred to as a "lifestyle" business, and is generally accompanied by little, if any, plan for growth.
This article came from http://www.addto.com/article/startup/start1.htm this shows some questions about entrepreneurship and some knowledge about this topic.

Entrepreneur!!

In this article found in http://www.econlib.org/library/Enc/Entrepreneurship.html it is said that an entrepreneur is someone organize and manages the risks of the enterprise. An enterpreneur is someone who takes resources neccessary to produce a certain product. I agree with this article of Russell S. Sobel because i think being an enterpreneur it should have big responsibilities with the business. It should comply with the companies demands and its consumers demands.
Successful entrepreneurs expand the size of the economic pie for everyone. Bill Gates, who as an undergraduate at Harvard developed BASIC for the first microcomputer, went on to help found Microsoft in 1975. During the 1980s, IBM contracted with Gates to provide the operating system for its computers, a system now known as MS-DOS. Gates procured the software from another firm, essentially turning the thirty-dollar pair of jeans into a multibillion-dollar product. Microsoft’s Office and Windows operating software now run on about 90 percent of the world’s computers. By making software that increases human productivity, Gates expanded our ability to generate output (and income), resulting in a higher standard of living for all.
Eventhough being an undergrad this should not hinder everyone to go with his dream.

What makes the rich rich and what makes the poor poor

I have been thinking lately about what I am going to write and so far it is better than my initial knowledge about this topic. But recently I have made a small amount of discovery. So let us start.

There are some things that rich parents that your typical parents would have not done or has never even done before. But the only thing that makes the rich rich is that they teach their sons and daughters how to handle money, yes indeed folks they teach them how to handle money of course it's not business math but in simpler things like saving and etc. I will list them down and before I forget, for the knowledge of all details will not be totally accurate there maybe discrepancies so please bare with me.

1. Is that they teach their kids to save money. In this way children would not you know spend every single penny out of his or her pocket in a single day. And at the same time they also learn how to buy things for them selves.

2. Well these are chain effects you know so when these kids grow up they would now know how the concept of "earn more than what you spend" system. In this way if they need cash they have to work for it if you know what I'm saying?

3. Third is that opportunities are not always there, that's why dedicated people and these rich people work hard and doesn't let opportunity to pass by. Whether be it having small or big profits, well you know its still a profit.

4.The "bahala na" habit is being discarded from any decision. Being always sure of the out come would be better than having an "I don't know" for an answer.

so there you have it. I will be updating this fro time to time for it to be more accurate.

Scalping, an easy way out?

Scalping is one of the easiest ways to earn big amount of money. Especially during UAAP games, how many scalpers do we see outside Mcdo? Imagine an Upper A ticket which originally costs 150 php jumps up to 1,500 php or even 2500 php. But yeah, maybe it really is hard to turn back from temptations especially when you see people desperate enough to buy whatever you dictate to them. I remember way back in high school, we would celebrate the school fair once a year. During the Saturday night of the school fair, we have our variety show which showcases the talents of the students, including the dance show of our dance troupe, a singing number from the singing club and the fashion show. The highlight of the night would most probably be the popular bands that we have invited to play. Of course, this show is not for free. One ticket would normally costs around 250 php (and I heared now that the price went up, it already costs as much as 350 php). Sometimes, other students would buy more tickets that they need, selling them at a higher price to those who haven't bought on time. This isn't allowed at school of course, giving sanctions to students who are caught doing this deed. With these thoughts in mind, I wonder, do people nowadays really care about money too much more than their own pride, character and moral? (Although I think that scalping is better in a sense that it doesn't hurt too much than selling drugs)

Business Inside or Outside?

Having this title in mind, all I can say is that from my own point of view and most probably from any other person, business is business as long as it has income or in simpler words, money. Some people may prefer it outside because of more publicity, more opportunities, more chances to succeed, more ways in making a difference but for me, after being able to read this site, you might just have that spark of switching your old business outside in inventing a new business inside in the comforts of your own home. This site shows the benefits as well as its rewards in dealing with businesses via home-based. Tell me what you think about it:

Starting a Home Based Business

Like in starting any business, a home-based business carries with it certain requirements and prerequisites that you must fulfill for long term success.
More and more people everyday are thinking about possibilities of starting their own business from home. For one, it provides for flexibility of schedule, enabling you to schedule your working hours according to your convenience; and also the independence of being your own boss. However, before taking the plunge one must carefully analyze both its advantages and disadvantages. It's not all bed of roses and down the line you wouldn't want to regret your decision. Here are some factors to consider before you take the plunge:
1) Adequate Financial Resources. Due you have sufficient resources to fund your venture in its initial stages. Be aware that some businesses can take years to make profit and your resources must last that period. In case of crisis, will your friends or relatives assist you financially? You may also have to consider the likelihood of continuing your day job and do your business part-time until you start seeing success.
2) Adjusting Family. Does your family support your idea and share your vision? In the early stages, you may have to work endlessly for hours together and your family might feel neglected. Are they aware of this fact? Do you have demanding kids? If yes, then it may get difficult for you to share your time between them and your work. Family support is very vital for the success of your business.
3) Dedicate Space and Communication Line. Can you dedicate a separate room for your office? If you have lot of distractions in your home like pets, small kids, frequent visitors, you need a separate office space to work efficiently. Even your garage space might work for this purpose.
You will also need a separate phone line, fax for your business purpose. Have you or can you make necessary arrangements for them?
4) Your Personality. Are you self-motivated? Do you have the self-discipline to work without any supervision? Can you handle isolation? Can you handle stressful situations? Can you handle added responsibilities?
Running your home-based business is completely different from working under someone. You must have the necessary motivation and zeal to carry one with your business no matter what. Like in your boss's office, you won't have anybody now to poke you often to get going.
One of the biggest disadvantages to running a home-based business is isolation. If you are an extrovert and constantly like company of others, this may seem like an alien world to you. You may have to schedule your work hours in such a way that you get sufficient time everyday for social outings. If this is not taken care off, things might get worse and may also cause depression.
You must be aware that in a business, you alone are to entirely blame for the success and failure of your business. You will also encounter many unforeseen and stressful circumstances. Unlike in your day job, now you wouldn't have the comfort of discussing appropriate course of action with your colleagues. You must have the entrepreneurial instinct in you to take charge of things without anybody's counsel.
In addition to home responsibilities, you now have the added responsibilities of your business. You cannot shut yourself off from either and must be able to perform both duties equally efficiently.
Like you can see, though a rewarding career, a home-based business does have its share of disadvantages. Don't take any decision on impulse. A patient, careful, and systematic approach is of utmost importance before you take any decision that will affect you as well as your family.

Business Adventure

I was talking about making a small business venture with my friend a while ago. We were planning on selling t-shirts or any other interesting things through one of the most popular social network sites which is the multiply, of course, or joining into bazaars this Christmas. However, I pointed out to her that it would be quite hard to join in bazaars this upcoming season since we are only 2 months ahead. (I bet that those bazaars are already full.) And since it would require us more than what we have right now, like business registrations and permit, it is probably almost impossible to accomplish all those things before the Christmas season. Well, we can always find another place and opt to sell at school like a freelancer but that would limit out market to students and friends only. Moreover, joining bazaars would give us more exposure and would serve as a preview for us in the world of real business. This would give us the opportunity to push ourselves forward and strive out to compete with others. It's just too bad that we came out of this idea pretty late when we are almost running out of time.

Retire as a Millionaire

Just yesterday before I did anything, I mean totally anything. I read news from the WEB or better known as the internet. The only thing that caught my whole attention was an article which was posted in yahoo. It was entitled "10 ways to retire a millionaire". My first impression on this was that "forcing the person(a millionaire in particular) to retire", but it turned out to be different from what I had expected it to be. Although some of the idea presented we're the common in common sense. But adding all of them together will sum up to a good effect. The article will be represented in blue font.

10 Steps to Retire a Millionaire
by Lisa SmithWednesday, October 22, 2008

Having a million-dollar portfolio is a retirement dream for many people. Making that dream come true requires some serious effort. While success is never a sure thing, the 10 steps outlined below will go a long way toward helping you achieve your objective.

1. Set the Goal
Nobody plans to fail, but plenty of people fail to plan. It's a cliché, but it's true. "Plan" is the leading self-help advice from athletes, business moguls and everyday people who have achieved extraordinary goals.

2. Start Saving
If you don't save, you'll never reach your goal. As obvious as this might seems, far too many people never even start to save. If your employer offers a 401(k) plan, enrolling in the plan is a great way to put your savings on autopilot. Simply sign up for the plan and contributions will be automatically taken out of your paycheck, increasing your savings and decreasing your immediate tax liability.

If your employer offers to match your contributions up to a certain percentage, be sure to contribute enough to get the full match. It's like getting a guaranteed return on your investment. Finding the cash to stash may be a challenge, particularly when you're young, but don't let that stop you from pursuing future riches.

3. Get Aggressive
Studies have shown that the majority of the returns generated by an investment are dictated by the asset-allocation decision. If you are looking to grow your wealth over time, fixed-income investments aren't likely to get the job done, and inflation can take a big chunk out of your savings.

Investing in equities entails more risk, but is also statistically likely to lead to greater returns. For many of us, it's a risk we have to take if want to see our wealth grow. Asset-allocation strategies can help you learn how to make picking the right mix of securities the core of your investing strategy.

4. Prepare for Rainy Days
Part of long-term planning involves accepting the idea that setbacks will occur. If you are not prepared, these setbacks can put a stop to your savings efforts. While you can't avoid all of the bumps in the road, you can prepare in advance to mitigate the damage they can do.

5. Save More
Your income should rise as time passes. You'll get raises, you'll change jobs, and maybe you'll get married and become a two-income family. Every time more cash comes in to your pocket, you should increase the amount that you save. The key to reaching your goal as quickly as possible is to save as much as you can.

6. Watch Your Spending
Vacations, car, kids and all of life's other expenses take a big chunk out of your paycheck. To maximize your savings, you need to minimize your spending. Buying a home you can afford and living a lifestyle that is below your means and not funded by credit cards are all necessities if you want to boost your savings.

7. Monitor Your Portfolio
There's no need to obsess over every movement of the Dow. Instead, check your portfolio once a year. Rebalance your asset allocation to keep on track with your plan.

8. Max Out Your Options
Take advantage of every savings opportunity that comes your way. Make the maximum contribution to tax-deferred savings plans and then open up a taxable account too. Don't let any chance to save get away.

9. Catch-Up Contributions
When you reach age50, you are eligible to increase contributions to tax-deferred savings plans. Take advantage of this opportunity!

10. Have Patience
"Get-rich-quick" schemes are usually just that - schemes. The power of compounding takes time, so invest early, invest often and accept that the road to riches is often long and slow. With that in mind, the sooner you get started, the better your odds of achieving your goals. The Reality Of Retirement

Retirement might seem far away, but it when it arrives nobody ever complains about having too much money. Some people even question whether a million dollars is enough.

That said, with lots of planning and discipline, you can reach your retirement goals and live a comfortable life after work.

Some items presented in the article are based in the western setting like dollars and etc... So to better understand it it would be better if you convert some things to the local setting