Archive for the ‘Entrepreneurship’ Category

Entrepreneurship ? What?s Behind This Economic Movement? is it an Option for You?


Entrepreneurship is a business trend which for the last 30 years has gone mostly undetected. It is advancing more today than ever before in American history and is not likely to diminish as the country retools for the new economy. It might be helpful to understand something about entrepreneurs if you want to join their ranks.



The <i>New Oxford Dictionary</i> defines <b>entrepreneur</b> as “a person who sets up a business or businesses, taking on greater than normal financial risks in order to do so.” Most business schools are still geared to the BIG corporations, so the typical MBA can’t make a small business work. Fortune Magazine now publishes a small business edition; banks are creating special departments for small business, etc. It might surprise you to learn that women are the fastest-growing segment among entrepreneurs, and Hispanic women are the fastest-growing of all.



When Did This Trend Really Start? One answer might go like this. When the pilgrims landed at Plymouth Rock, they didn’t come ashore looking for jobs. They were America’s first entrepreneurs. They went into the business of raising crops, building houses, hunting and trading with the friendly Indians. They created a new kind of life, which became a new kind of country that has changed our world.

Our Founding Fathers were entrepreneurs who financed the American Revolution to back up their principles expressed in the Declaration of Independence, and the freedoms of the Constitution and Bill of Rights. They never considered Americans would ever be composed of anything but independent business people.



In the early days, there was no assembly line and no automation. Notwithstanding that our forefathers engaged in slavery and a few bigger businesses took root in major cities, the majority of Americans were in business for themselves and our country was dominated by entrepreneurs who tamed the West.



When Did Things Reverse?

Beginning with the Industrial Revolution around the time of the Civil War, we slowly started moving toward being a country of employees. As this trend continued, people moved into large cities to be near the big factories and the companies that serviced these workers. Our school systems started to focus on training people to be employees and our schools began to resemble factories, starting and ending the children’s “shift” with the ringing bell.



However, this trend unexpectedly reversed during our lifetime – a change that has confused economists for decades. Perhaps the major business trend in the US since 1975 has been the steady move of Americans going into business for themselves. Americans have been going into business for themselves at an unprecedented rate since 1975. There was a time in American life when the major corporations ruled. No more – today they employ less than 20% of the work force. By the early 90’s the majority of US exports were produced by firms with fewer than 16 employees! Interesting that the corporate workforce is the most vulnerable in the new economy.



Generally, people become entrepreneurs to pursue a passion in life and to control their own destiny, but a lot of entrepreneurs have joined the movement simply to be free of the confines of being an employee.



Unfortunately, people start a business of their own, often without a workable business plan. Worse, they fail to clarify their purposes. They don’t set adequate clear policy, which kills them as they try to expand. The errors and mistakes cascade from there.



The end result is that new entrepreneurs start out running their business and end up with their business running them. Their lives go out of balance.



There is a common reason for this. Most people who take the leap and go into business for themselves are skilled at only a few of the things a business owner has to know. There is a lot to know to make a business work; skills in leadership, personnel, sales and marketing, finance, quality control and PR are all required in addition to expertise in the company’s products or services. This could also be the primary reason that a high percentage of new businesses go under each year – not “under-financing” as frequently gets the blame. But it is true, when the economy gets tough, as it has recently, the things one doesn’t know really become a threat and funds to make a go of it can become very scarce without careful management of the business.



There are systems that can be learned to deal successfully with the problem areas, and if you use them, you can make entrepreneurship a very rewarding activity. Perhaps the happiest and most successful businesspeople around are those who manage to master each of the skills needed to run a successful business. Accomplishing that, they are free to concentrate on what they like to do most. Sound enticing? For some, I will wager nothing could be better. It is up to you.





Copyright&copy; 2009 Creative Business Strategies, Inc. All Rights Reserved.

David Sanders has experienced, survived and helped others to survive four recessions since 1978. He is considered one of the top experts in Marketing, Productivity and Time Management, Long-term Strategies with Weekly Real Time Planning and Efficient Utilization of Personnel. The CEO of Creative Business Strategies, Inc., a multifaceted corporation, Mr. Sanders still makes time to provide quality seminars to Chambers of Commerce and business develop organizations throughout Southern California. His purpose is to help owners and entrepreneurs win with effective marketing and productivity strategies.

Riding the Emotional Rollercoaster of Entrepreneurship

Remember the first time you rode a rollercoaster? You waited in line with trepidation, smiling nervously to your family, friends or those around you, hoping that no one could sense the butterflies in your stomach. As you got in the car and strapped in for your ride, you wondered how secure the safety belt really was. You were scared and excited about what would come as the car slowly inched up the hill before the first big drop. You wondered if it was really such a good idea getting on this ride, and maybe even said a quick prayer. When the car started downhill and picked up speed, you let out your best Hollywood scream as you sped over bumps and turns and flipped head over heels. You alternated between feelings of delight and feelings of horror and everything in between. You felt more terrified and exhilarated than you ever had before in your life. By the time your car slowed down and stopped at the terminal, your cheeks were flushed by the rush of it all. You barely knew where you had been, but you were happy you did it and wished it weren’t over so quickly. As a business advisor, I know that the emotional rollercoaster ride of entrepreneurship can be tough, but just like an actual rollercoaster, there are unexpected twists and turns, thrills and excitement to be gained from entrepreneurship that make it all worth the ride. Whether you’re just starting out or you’ve already established a business of your own, here are some things to keep in mind on your ride.

1 – You Can’t Have the Ups Without the Downs
Business by nature is cyclical. Realize that it will not all be rosy. There will be ups and downs; it is just part of the game. There has never been a business built that didn’t face setbacks and hardships. Not one. There will be good days and bad, but if you maintain focus on your goals and work towards them every day, and continue to make progress by listening to feedback and improving, you will get through the bad. You will get out of the dip and start climbing up again. When you’re feeling like things are down, it is a sure sign that an up is just around the corner. You just need to keep the momentum moving forward long enough to get to it.

2 – Enjoy the Moment and Keep Your Eyes Open
Time flies, when you are on a rollercoaster and when you are a business owner. When I worked in corporate America, it seemed like it took forever for Friday to come along, but when you own a business the weeks start to fly by and it is Christmas before you know it. If you don’t stay alert, and on task, and follow a plan, you will be wondering where the time went, and why you still haven’t gotten around to doing what you meant to do. Enjoy the moments that you live every day. Even if you wish you had more money, more clients, more staff, you need to find happiness in the now. Instead of constantly asking, why is this taking so long, and looking forward to the future, think of all the wonderful things you have right now, and enjoy the present moment. Businesses, like children, grow up fast, so don’t forget to enjoy the baby days. This will make you a lot more eager to get out of bed in the morning. When you are alert to what is going on in the moment feeling thankful for what you have, you will be able to attract more good things into your life.

3 – Keep Getting On Board
With any job that does not have a guaranteed return on investment; you must keep proactively putting forth effort and work. While you may not experience the immediate gratification that you desire, work put forth can come back to you when you least expect it, just like a tax return in the mail. While your time is valuable and should not be wasted, doing work now can turn into profits later. Business is about taking a long-term view, so realize that you may have to go around a few times before you start reaping the returns, but it will be worth it when you do.

4 – Let Go
Lastly, have fun. Entrepreneurship and rollercoaster rides can be scary, but they can also be wildly fun. The uncertainty of what tomorrow will bring is what makes the business journey so exciting, so instead of lamenting your lack of success now, let go and enjoy the ride. Make good plans and put good control systems in place to monitor your progress, but ultimately you have to put your business out there and see what the marketplace thinks.

Entrepreneurs are like rollercoaster junkies; the ones that build a successful business like to experience the thrill over and over again by always tackling new ventures. For more information about how you can build your business with the help of a supportive team, visit www.flourishingbusiness.com.

Elizabeth W. Gordon, founder and President of Flourishing Business™, is a visionary leader who has a passion for helping others achieve their entrepreneurial dreams and enjoy more of the best in life. With a vast and diverse background in many business arenas, Elizabeth regularly has the opportunity to share her business acumen with clients, large and small. She currently serves on the Board of Directors of the National Association of Women Business Owners (NAWBO), Atlanta and the Board of Directors of the American Association of University Women (AAUW) Atlanta. She is an Accredited Executive Associate of the Institute for Independent Business (IIB) and a certified Life Coach.

ENTREPRENEURSHIP IN ANCIENT PERIOD

ENTREPRENEURSHIP IN ANCIENT PERIOD

The First phase of entrepreneurship emerged when the Aryan conquerors settled down in this country by suppressing the non-Aryans. They appropriated the products of village communities to themselves leaving a little for the villagers or native. Thus, the main conflict of ancient Indian society began. The Aryans were faced with the problem of innovative new crafts and occupations and also evolved some kind of division of labour for the new handicrafts, breeding of cattle and cultivating land. Ali these occupations did not exist at the time of conquest by Aryans. They were the products of entrepreneurial action.

Immediately after the conquest, the settlement of the Aryans began and together with the formation of states and the establishment of laws. The need of dharma was expressed in the oldest Upanishads and the oldest dharma sutras followed. They avoided the speaking of class struggle as mentioned above, but used the terminology of the four ranks (Varna dharma), which is quite characteristic of despotism

Ancient literature like manusmriti has provided a clear idea about entrepreneurial class of people during ancient period (pre-Vedic). According to manusmriti, “people belonging to Vaisya caste were regarded as entrepreneurs who are specialized to maintain livestock, to give charity, perform sacrifices, study scriptures and undertake business and banking.” Hence, vaisyas are the specialized class of people carrying entrepreneurial activities in these days. Agriculture, crafts and handicrafts were the basic sources of the occupation for the people. The occupational development during this period comprised ownership of land pasture grounds, trees, forests, water reservoirs; mine, etc. with the introduction of entrepreneurship, the towns and cities developed.

 

B.Sc.(Med.), B.Ed., M.A.(Edu.), M.Litt.(Edu.), Ph.D.(Edu.Psy.)PGDCA. Served as Science Master, Employment Department as Vocational Guidance Officer. Retired from Employment Department, Punjab India as Dy. Director (Off.) Serving now Arihant Computer Center and Many Medical Hospitals such as Sadbhavna Medical & Heart Institute.

Reasons for slow growth of entrepreneurship in During British period in India

Reasons for slow growth of entrepreneurship in During British period in India. 

Inspite of the above problems, the export trade of textile in 17th century was on ascending trend. During this period, grouping of Indian merchants into joint stock associations for the purpose of managing the supply of textiles to European companies was very significant. This helped in exporting huge volume of textiles to the European markets leading to favorable terms of trade.

Not given proper protection: The enterprises were not given proper protection by British Government. Discouragement by British Government: Only those industries in which the British Government put their own capital were given encouragement. High railway freight charges: The railway freight charges were higher for locations not nearer to the ports. This proved that the transportation of the goods manufactured for the Indian markets were more expensive than goods meant for exports. Exorbitant tariffs: The British imposed exorbitant tariffs on India made goods. Constantly harassed for getting licenses: Entrepreneurs were constantly harassed for getting licenses and finance to established and run industries. No facilities for technical education: there were almost any facilities for technical education which alone could strength Indian industrial entrepreneurship. Entrepreneurs faced fierce competition from abroad: The Indian indigenous entrepreneurs faced fairs competition from machine made goods exported to India from abroad. Lack of transportation and communication facilities: Lack of transportation and communication facilities acted as the stumbling blot in the way of industrial growth. Not encouraged the establishment of heavy industries: The British Government did not encourage the establishment of heavy industries like heavy machinery, iron and steel which are necessary for rapid industrialization. Political turmoil: Political turmoil and abolition of princely courts discouraged the growth of entrepreneurship. Multi-currency system: Prevalence of multi currency system affected the business environment and blocked the growth.

Inspite of the above problems, the export trade of textile in 17th century was on ascending trend. During this period, grouping of Indian merchants into joint stock associations for the purpose of managing the supply of textiles to European companies was very significant. This helped in exporting huge volume of textiles to the European markets leading to favorable terms of trade.

B.Sc.(Med.), B.Ed., M.A.(Edu.), M.Litt.(Edu.), Ph.D.(Edu.Psy.)PGDCA. Served as Science Master, Employment Department as Vocational Guidance Officer. Retired from Employment Department, Punjab India as Dy. Director (Off.) Serving now Arihant Computer Center and Many Medical Hospitals such as Sadbhavna Medical & Heart Institute.

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