| Topic : Intrapreneurship Is The Call Of Future.. |
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last activity : 01 08 2011 17:11:15 +0000
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team work & relaible product
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Technological tools
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Passion
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true
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Lot of time and energy
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Determination
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RIGHT PERSON ARE REQUIRED
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Clear Vision & Proper Management
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Strategy
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1st & 2nd Entrepreneurial Pitfall by Peter Drucker
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Extra points nitch market helps too, and being a fast learn is good. Certs are nice, but find people with the want to, and you have the power to create anything. Get a lazy or uncooperative team, and your project fails. I made millions from self taught education, mixed with some of the highest edu places in USA. That being said, none of this was taught, but learned by the school or hard knocks and pings, we call it - reality meets concept If you have a relaible and good product - this is the highest key point of any business, you can succeed , even without "VC" or Funding. I am writing soon on how I created my first empire, and am building my next using simple easy to use information, and will continue to help others, as that also is a huge key to success as a whole. Last if your an expert in that field and you want to open a business , DONT. As I have learned the hard way, its easier to teach or learn, than to unlearn. Your exprtise is great, at work, but not when it could change or alters company course. No matter how hard you tried your expertise would set pace, and business is about team skills as much as it is business, contrary to school or higher edu teachings. Ted Green Alltexas Networks / AllTexas Wimax
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I accept this side views posted. But creating the customer base requires a lot of patience and minimum one year needs to be waited.
Hello Veena, The subject is very interesting. It is very challenging to start any new business. The product should be innovative and work with your team till you succeed. of course initially you have to struggle with finance, manpower,technology etc. Once you achieve the expansion will be easier. In case you are planning for a new venture..... All the best and good luck.
K Rajagopalan.
Really Mr .Ted , it was something a precious suggestion. I am a Engineering undergraduate, will be passing out this year. I am determine to start my busineess and make big. I am planning to start it now, by renting a office and developing web presence . Although I have ideas but they are not so mature. However ,i am sure I can improve things, if keep working with pace.
But problem is that, my friends and family all advice me to concenterate on academic studies and land a good job in some s/w company.I have no support from my friends and family in favour of my decission.
Although I am sure this is what i want to do, but just need an objective answer, "is this the write time for me to start with my business, or run in the rat race-land a job and wait for 2-3 years?"
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A bootstrapping entrepreneur can also get help from lots of technological tools. For instance, professional-looking websites and automated phone-answering systems can speed sales and make a start-up look more impressive to potential customers. Technology, in fact, is a big reason it's possible to launch a business so cheaply. Thanks to the proliferation of the Internet and the accessibility of once-costly technology, start-up costs have plummeted in the last 10 years, it's gotten so much easier to reach mass markets and test out ideas. This is something that's becoming accessible to anyone with an idea. |
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All the companies on shoestring budjet I think first understand the whole game like total market, the players involved, appx, capital employrd by each of the companies, the growth of the market and the ROI by the other companies on the same field and last five years P&L statement.
Now one should do a research and find the details and try and obtain the balence sheet etc.
Now comes technological tools and the companies shoud derive the addtional advantage from this. If both of these is planec and executed deligentlu in that case no body will be able to stop such companies to attain strength and grows big.
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Passion is what gives you the strength to overcome the barriers in your way, think the unthinkable and hold onto the mission.All of the successful entrepreneurs were passionate about whatever they did, examples are a plenty I need not mention them. Take anyone from Steve Jobs to Narayan Murthy. |
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websites, seo and google adwords are some great tools to speed up sales
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Yes with SEO and Google adwords one can easily reach more people in the virtual world and if your product is something which is really good it can turn some eyeballs on the internet and everything is set.
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Hard work is one way. If you don't have a lot to spend, so put in a lot of time and energy. I mean with constant effort in your venture, and time taken to nurture it from the scratch to it becoming a profitable business, it needs your time and care and with customers turning into loyal ones the word of mouth spreads and thats how you get more business. |
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This is true of anything you want to achieve, and more so for a start-up...
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There is no word as "shoestring",but determination,if the people who are organizing the business have right attitude,the net results will surely favor them. |
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Mr Ted's arguments are of uphill menu.There is no denying the facts,one can start and flourish within short time.Every thing has palpitation,resuscitation and motivation.If determination is there ,half the battle is won.
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MORE THAN ANY OTHER RESOURCE TO DO BUSINESS THE MOST IMPORTANT RESOURCE IS ,RIGHT,TALENTED,CAPABLE,AGGRESSIVE,EXPERIENCED,DETERMINED MEN WITH WHOLE HEARTED INVOLVEMENT WHO CAN ACHIEVE WONDERS WITH SHOE STRING BUDGETS BY STRTECHING THE RUPEE TO THE MAXIMUM POSSIBLE EXTENT. |
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First of all if we want to grow in small business, our vision is more clear to us. After that proper management requires in all sectors which includes financial, HR, Marketing and R&D etc. But be conscious to take any new step. Don't delay to take any decision but not also in too hurry. Be confident not over confident. If you are good leader it will be more easy to handle any situation with your team work.. |
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If the shoestring resources are phased in the initial stages for longevity & sustainability, then given the present technological & free-flowing liquidity advantages, the rest shall follow & any sound venture has the potential to make it big. |
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Borrowing from the great management guru Peter Drucker one can say, avoiding the following is also important: 1. The entrepreneur doesn't realize that a new product or service is not successful where he or she thought it would be but it is instead successful in a totally different market. (This, Drucker says, is much more common than one might imagine.) 2. Entrepreneurs believe that profit is what matters most in a new enterprise. Cash flow matters most. http://www.inc.com/staff-blog/2005/11/14/druckers_four_pitfalls.html
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I second MR.Saket jain here. There is no monopoly in any field if we take the global prospective. |
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