Economists and business people differ in their definitions of what is entrepreneurship. Most, however,
agree that entrepreneurship is vital for stimulating economic growth and employment
opportunities in all societies. This is particularly true in the developing world, where successful
small businesses are the primary engines of job creation and poverty reduction. This course
introduces you to the fundamentals of entrepreneurship and how to become an entrepreneur. It discusses the essentials for building and running a business from the planning stages to marketing a product.
Entrepreneurial activity is "enterprising human action in pursuit of the generation of value, through the creation or expansion of economic activity, by identifying and exploiting new products, processes or markets.”
Entrepreneurship can come in various forms including starting a new business venture, purchasing a franchise, starting a charity or non-profit organization and inventing a new product. If you are interested in becoming an entrepreneur, consider the following steps:
Step One: Entrepreneurial Self-Assessment
Do you have what it takes to be an entrepreneur? Before you get started, it is critical to realistically assess your potential as an entrepreneur. To do this, consider:
Do you have the personal attributes needed to operate a successful business?
Step Two: Feasibility Study
While every opportunity starts with an idea, not every idea represents a viable business
Step Three: Develop a Business Plan
A business plan is a detailed, written “action plan.”
Step Four: Secure Finance/Funding Support
Finding sources of funding can be tricky however, there are some resources available to help
get your small business off the ground. Some of the most popular resources include:
Hello and welcome to this course on entrepreneurship!
My name is mustapha and I'm here to guide you through a wonderfull entrepreneurship journey.
We'll begin by taking a closure look at the general concept of entrepreneurship.
I'll then take you to the execution process starting with the decisions to take, building the team, the product,
the market, the entry strategy, the marketing side, selling online, choosing a form of your business and creating a business plan!
Next we're going to discuss the financial side of the business, and we'll see the sources of financing available
for you to start.
We'll then discuss the impcat of entreprenurship on the economy!
Finally I'll provide tipes and resources for helping you going forward!
Understanding the basic concepts of entrepreneurship is critical to running a successfull business. I'll introduce you to this concepts in this course which is an introduction to entrepreneurship!
Int his lecture we'll answer the question; What Is Entrepreneurship?
What is meant by entrepreneurship? The concept of entrepreneurship was first established in the 1700s, and the meaning has evolved ever since. Many simply equate it with starting one's own business. Most economists believe it is more than that.
In this lecture we will answer the questio: Who can become an entrepreneur?
There is no one definitive profile. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and "smarts."
Within this lecture, we will answer the question: Why Become an Entrepreneur?
What leads a person to strike out on his own and start a business? Perhaps a person has been laid off once or more.
Sometimes a person is frustrated with his or her current job and doesn't see any better career prospects on the horizon.
Sometimes a person realizes that his or her job is in jeopardy. A firm may be contemplating cutbacks that could end a job or limit career or salary prospects. Perhaps a person already has been passed over for promotion.
Entrepreneurship is an attractive career choice. But many decisions have to be made before launching and managing a new business, no matter its size.Among the questions that need to be answered are:
In this lecture well discuss some key elements to answer all this crutial questions.
One important choice that new entrepreneurs have to make is whether to start a business alone or with other entrepreneurs. They need to consider many factors, including each entrepreneur's personal qualities and skills and the nature of the planned business.
By taking this lecture, you'll have a clear idea to made an educated decision on whether to start alone or teaming up.
A prospective entrepreneur needs to come up with a good idea. This will serve as the foundation of the new venture.Sometimes an entrepreneur sees a market need and – Eureka! – has an idea for a product or service to fill it. Other times an entrepreneur gets an idea for a product or service and tries to find a market for it.
In this lecture, I'll provide tips to find the right market for your product.
It is easy to be captivated by the promise of entrepreneurship and the lure of becoming one's own boss. It can be difficult, however, for a prospective entrepreneur to determine what product or service to provide. Many factors need to be considered, including: an idea's market potential, the competition, financial resources, and one's skills and interests.
Then it is important to ask: Why would a consumer choose to buy goods or services from this new firm? One important factor is the uniqueness of the idea.
By making a venture stand out from its competitors, uniqueness can help facilitate the entry of a new product or service into the market. It is best to avoid an entry strategy based on low cost alone. New ventures tend to be small.
Marketing is often defined as all the activities involved in the transfer of goods from the producer to the consumer, including advertising, shipping, storing, and selling.
For a new business, however, marketing means selling. Without paying customers to buy the goods or services, all the entrepreneur's plans and strategies will fail.
How does a new business get orders? Before launching the business, the entrepreneur should research the target market and analyze competitive products.
The Internet — a vast computer network linking smaller computer networks — has revolutionized commerce by bringing together people from all over the globe.
Many of its features can be used to shape a new business. We'll take a closure look at those on this lecture.
Many entrepreneurs sell goods or services on the Internet. Why? The Internet provides access to a large and growing market. Approximately 627 million people were shopping online worldwide in 2005, according to ACNielsen, a global information-marketing company.
By selling on the Internet, a neighborhood shop or home-based firm can reach a national or even international group of potential customers.
When entrepreneurs sell online, they are on a more level playing field with larger competitors.
In many countries, entrepreneurs must select a form of organization when they start a small business. The basic forms of organization are sole proprietorships, partnerships, and corporations. Each has advantages and disadvantages. Moreover, the laws and regulations that apply to business owners vary from country to country and by local jurisdiction.
Entrepreneurs should consult an attorney or other expert to make sure that they have all the necessary licenses and permits, and are aware of all their legal obligations.
In this lecture, I define each type of those, give its advantages and limitations so you have a clear undertanding of it and be able to choose the right form for you.
A comprehensive business plan is crucial for a start-up business. It defines the entrepreneur's vision and serves as the firm's resume.There are many reasons for writing a business plan:
In this lecture, we'll discuss the uses of the business plan and I'll provide the necessary info to build one for your business.
New businesses rarely show a profit in the early months of operation. Generating sales takes time, and receipts are not usually sufficient to offset start-up costs and monthly expenses.
Therefore, entrepreneurs need to estimate how much money they need and then raise that amount to transform their dream into a reality.
Many entrepreneurs struggle to find the capital to start a new business. There are many sources to consider, so it is important for an entrepreneur to fully explore all financing options. He also should apply for funds from a wide variety of sources.
In this lecture, we will explore the financing options available for you, discuss the advantages and limitations of each one so you'll be able to find the funds you need to start your business quickly and efficiently.
Intellectual property is a valuable asset for an entrepreneur. It consists of certain intellectual creations by entrepreneurs or their staffs that have commercial value and are given legal property rights. Examples of such creations are a new product and its name, a new method, a new process, a new promotional scheme, and a new design.
A fence or a lock cannot protect these intangible assets. Instead, patents, copyrights, and trademarks are used to prevent competitors from benefiting from an individual's or firm's ideas.
Protecting intellectual property is a practical business decision. The time and money invested in perfecting an idea might be wasted if others could copy it.
We'll explore the different choices available to protect and to get the most out of your intellectual property in this lecture.
Any entrepreneur who is contemplating a new venture should examine the strengths of small businesses as compared to large ones and make the most of those competitive advantages. With careful planning, an entrepreneur can lessen the advantages of the large business in regard to his operation and thereby increase his chances for success.
In this lecture, we're going to examine those in order to help you get started.
Most economists agree that entrepreneurship is essential to the vitality of any economy, developed or developing. Entrepreneurs create new businesses, generating jobs for themselves and those they employ.
In many cases, entrepreneurial activity increases competition and, with technological or operational changes, it can increase productivity as well.
In this lecture, you'll discover how entrepreneurship aids the economy and its positive impact on it.
My name is Mustapha. I am online instructor and marketer at Udemy.
Between 2012-2013 I Quality Control Technician at SFR (Société Française de Radiotélécommunication) which is the second telecommunication services provider in France.
Few months ago I was level 2 ultrasonic inspector at VVI Co. Ltd., managing a team of 4 technicians that runs the inspection of pressure vessels and pipeline for many leaders companies in MENA region such as: MISA (Maritime Industrial Services Arabia Co. Ltd.) , BHI ( Bilfal heavy industry Co. Ltd.), ZSI (Zamil Steel Industry Co. Ltd) and more.
Today I'm data processing and planning manager at the same company mentioned above ( VVI co. Ltd. ) responsible for the computer systems, overseeing installation, ensuring back up systems operate effectively, purchasing hardware and software, providing the ICT technology infrastructures for the organisation and contributing to organisational policy regarding quality standards and strategic planning.
I'm passionate about personal development,engineering, social media, and information technology. I've taught hundreds of students online and offline. And I'm so excited to share my experiences with udemy students.