AUTHOR HTTP://WWW.SBSGROUP.COM.SG/ Entrepreneurship - A Good Career Choice?
Sep 14, 2014
AUTHORHTTP://WWW.SBSGROUP.COM.SG/
Entrepreneurship - A Good Career Choice?
What is anEntrepreneur or who are Entrepreneur ?
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A person who sees opportunity in what others deny
A person who takes financial risks, to set up a company and operate a business
Is a leader with strong management and team building skills
An innovator of new ideas and business processesHas a long-term vision and good understanding of
market and customer needs.Develop new services and productsThey are spontaneously creativeAre born smart workersAre ready to accept challengesCopyright © 2011 - 2013 SBS Consulting All Rights
Reserved
Copyright © 2011 - 2013 SBS Consulting All Rights Reserved
Entrepreneurship as a Career Choice
According to the Global Entrepreneurship Monitor Report• Different cultures have different views of being an
entrepreneur as a career choice.• Wealthier countries such as the UK, US or Japan do
not necessarily see more entrepreneurial opportunities.
• Entrepreneurial opportunities are perceived most in third world countries like Ghana and Uganda
• Necessity rules desire in less business inclined minds.
• A burning desire to excel as entrepreneur in those with business inclined minds
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Qualities of an Entrepreneur
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Self starter and open mindedHighly motivated and self confident Initiative taker and VisionaryDetermined LeaderOptimistic and Risk takerMoney wiseSelf promoterTeam player and independent worker at a same timeAccessible and communicativeGets involvedA master negotiatorOrganized and desciplinedTask masterHard worker and a smart workerCompetitive and CreativeStrong people skill and work ethicsPassionate
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Copyright © 2011 - 2013 SBS Consulting All Rights Reserved
The reward and challenges of Entrepreneurship
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Rewards Challenges
Being your own boss Fear of failure
Being original Lack of entrepreneurial intentions
Hold on situations and Circumstances More opportunities in government sector in developed nations
Minimum rules and regulations to be followed
More opportunities in established organization in developed nations
Opportunities unlimited Lack of required skills and knowledge
Freedom of choice and time Higher risk involved
Independent working style Financial future unpredictable
Choice of management style Stress involved as compared to working for an organization
Responsible from scratch to end
Flexibility
The elements of business planning
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To own a successful business, the first step is to plan a road map
Executive Summary: Company profile and goalsDescription of the Company: Profile of services offered, how are
you different from otherAnalysis of Market: Researching on your business industry,
current trend in the market and competitors Management and Organization: Chalking out best management
and organization plansProducts or Services: how is it going to benefit the end-userSales and Marketing: Promoting and branding of your products
and servicesFunds: On board Investors or savingsMission and Vision: Where you want to see yourself 5 year down
the lineCopyright © 2011 - 2013 SBS Consulting All Rights Reserved
Importance of business planning
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Copyright © 2011 - 2013 SBS Consulting All Rights Reserved
Clarity of DirectionEstablishment of goalsVision of the FutureAttracts investors and financesAttract Team members and resourcesEfficient utilization of resourcesMore productive timeManagement becomes easierStreamlined OrganizationAbility of risk management
Congratulations
You have taken the first step towards accomplishing your dreams.
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