Monday, November 3, 2008
definition of entrepreneur
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!!
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
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?
Business Inside or Outside?
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.
Wednesday, October 29, 2008
Business Adventure
Monday, October 27, 2008
Retire as a Millionaire
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
Sunday, October 26, 2008
Employment
Competition
Friday, October 24, 2008
'A Little Bit of Ingenuity"
As our world progresses in the new generation, businesses are getting in the scene more and more each day. The rise in need of profit and consumers has increased tremendously. Business associates and entrepreneurs would do whatever they can to take their business to the top whether they need to negotiate, risk or even gamble. Such an alternative for this undertaking is the essence of classifying big businesses as of today primarily in hotels and restaurants. These chains have revolutionized the business industry to greater expectations. This business has exceeded the means of earning, producing, and progressing what we usually call globalization. Therefore, this paper aims to show the proper necessities in classifying hotels in order to let an entrepreneur visualize a high class or a low class hotel. This is to help enrich the knowledge of every business minded individual of what it is to find out in such an ideal development.
Globalization is the acquiring of social institutions amongst countries and nations. Countries start to interact with other countries for trade, friendship and help. It involves international matters, and so it is essential to be good in business.
All kinds of businesses are rising nowadays not only in our country but in the whole world as well. From factories, inns, industries to restaurants, condos, cell phones etc. These businesses have given so much to make our world a better place. But of all these, one business that can not only give you a head start in the “financial” crisis, but also can revolutionize our country into a more realistic and updated lifestyle for every individual is the business of hotels. Hotels in this generation, have been improving ever since the French founded it.
A hotel is an establishment that provides paid lodging that is usually on a short-term basis. Its purpose is to provide people with uttermost comfort and leisure whether you are attending a conference or just looking for peace and relaxation. The only variation of each hotel is how it is being classified. It all depends on the tourists or customers preference. The uniqueness of a hotel really helps in finding the similarity and the difference in each one.
With these thoughts in mind, business enthusiasts all over the world can educate themselves more and enhance their capabilities in the business industry.
Thus in response to this, the researchers would like to determine the right qualities and requirements that constitute in the classification of a hotel and have organized a survey to people in order to monitor, assess and evaluate their knowledge and their understanding of this specific type of business.
Thursday, October 23, 2008
“Stairway to the Top”
“It’s Our Life”
“What Matters Most”
Everyday, people go to work to earn money. They work hard and find ways and means for them to be able to support those who are depending on them. But people in today’s society, most of them, think that the money they earn in working is not enough for their daily needs and for the needs of their family as well. That’s the reason why some people just pull out that resignation sheet, sign it, give it to their boss and simply walk away to start a business of their own wherein they are the boss.
The main question we have right now is, for these people who did this move, was it the right decision for them? In this society that we live in right now, is starting a business of your own a guarantee that you will now end your financial slump? Is starting a business the solution to your money woes? Sad isn’t it?
Monday, October 20, 2008
Franchising is the way to go!
Millions in no time
Today at the dawn of the 21th century a new business stood up from the rest producing more business and jobs locally and internationally. Here you just need a good equipment(computers and servers to be exact), great minds, great designers, and a great story. If you haven't figured it yet I'll tell you, these are cyber games. In our own language these are video games.
This industry can make a single game bag upto a months profit of Las Vegas. Although it takes a very long time to develop a game that can play in par with the big boys of the industry like EA, Blizzard, CCR, and Gravity. Everybody started from scratches you know.
And as for the Philippines case we are near to par with the big boys. We have a great pool of gamers that can test our BETA games or prototypes for improvements and so on. Some two or three years ago the Philippines released a game that was purely pinoy, yep that was "purely pinoy". That game was ANITO. Although it did not catch international attention it was a great game but it was "bitin", "kulang ang story line".
In this business you can get success in an instant, your inital capital can earn you profits for more that a hundred times. The only major cost that falls in this business are the equipment(everything including upgrades), Rights to publish the game, And the space for the office.
So what do you think? Can this be an escape route for the Philippines against national crisis?
Wednesday, October 15, 2008
Entreprenuers Everywhere
Since then I was wondering about things. Then came high school, to our surprise we had an T.H.E. class (then change to T.L.E. then I don't know kung pinalitan pa) our final project was for a group of 5 to earn money and whoever gets the highest amount gets a perfect 100%. After a few weeks of selling our group had already earned from what I remembered 3k or three thousand pesos. Then after the selling period "nagdududa ang teacher namin" on how we earned cash that big. So what we did was we showed our receipts as for the expenses then what things we used (ingredients for food) after that we realize that it was really suspicious how we got a very huge lead, we have three thousand pesos and the next group got five hundred. But in the end I t was all smiles two of us in the group got a thousand each and the rest splitted the rest (hirap kaya magtrabo with labor yun ha). This happens yearly in our high school conducted by high school students.
But lately when I was playing an online game, I realized that even inside a game there are entrepreneurs. Lately aside from farming (online game term for gathering loots) a lot do BUY and SELL to earn more money, techniques that they use are very common from the usual business practice. Buy when the price is low then keep it when somebody needs something supply them (easy diba). From the real world to the virtual world there are entrepreneurs.
Monday, October 13, 2008
The SECRET to the TOP
This should be posted in all schools and work places
Love him or hate him, he sure hits the nail on the head with this! Bill Gates recently gave a speech at a High School about 11 things they did not and will not learn in school. He talks about how feel-good, politically correct teachings created a generation of kids with no concept of reality and how this concept set them up for failure in the real world.
Rule 1: Life is not fair - get used to it!
Rule 2 : The world won't care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.
Rule 3 : You will NOT make $60,000 a year right out of high school. You won't be a vice-president with a car phone until you earn both.
Rule 4 : If you think your teacher is tough, wait till you get a boss.
Rule 5 : Flipping burgers is not beneath your dignity. Your Grandparents had a different word for burger flipping: they called it opportunity.
Rule 6: If you mess up, it's not your parents' fault, so don't whine about your mistakes, learn from them.
Rule 7: Before you were born, your parents weren't as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you thought you were. So before you save the rain forest from the parasites of your parent's generation, try delousing the closet in your own room.
Rule 8: Your school may have done away with winners and losers, but life HAS NOT. In some schools, they have abolished failing grades and they'll give you as MANY TIMES as you want to get the right answer. This doesn't bear the slightest resemblance to ANYTHING in real life.
Rule 9: Life is not divided into semesters. You don't get summers off and very few employers are interested in helping you FIND YOURSELF. Do that on your own time.
Rule 10: Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs.
Rule 11: Be nice to nerds. Chances are you'll end up working for one.
If you agree, pass it on.If you can read this - Thank a teacher!
And there you have it. Well I did learn and reliaze alot from it I hope it will do the same with everyone. And Yeah I passed it on and now I'm sharing it with others.