Entrepreneurship To Be Successful

Entrepreneurship What it Takes to be

Successful

Notes by James P. PopinoFrom Entrepreneurship Lectures at Broward

College1TVO Industries, Inc.

TVO Industries, Inc.TVO Industries, Inc. is a privately owned

financial consulting and Merger and Acquisition firm committed to providing specialized advisory services and strategic planning to top management of public and private firms throughout the world. Our expertise is focused on successfully buying and selling companies and in capital formation services for our clients. Talk to us – it is likely the best investment you’ll ever make.

James P. Popino, Managing Director [email protected] - p- (954) 423-2324www.TVOIndustries.com

TVO Industries, Inc. 2

The Entrepreneur

OBJECTIVES

● The nature of entrepreneurship.

● What it takes to be a successful entrepreneur.

● The importance of choosing the right environment in which to work.

● The process of setting personal goals according to your values, attitudes, needs, and expectations.

● The sources of new business ideas.

● The advantages and disadvantages of part-time entrepreneurship.

3TVO Industries, Inc.

Entrepreneurs are individuals who have the vision and ambition to reach goals that are beyond many of us.

They come from all types of backgrounds

They are active in all forms of enterprise


● Controlling one’s destiny

● Independence from supervision

● Achieving great profits


Self-confidence

Determination and perseveranceCreativity

Need to achieve

Do you tend to be a daydreamer?

Do routine chores make you restless?

Are you stubborn?

Do you like yourself?

Is making money your only goal in starting a business?


● Many are the children of self-employed parents.

● Many are descendents of immigrant parents or grandparents.

● Many were enterprising in their youth.

● Many are the oldest child.

● Many state their prime reason for starting a business was to be on their own and not work for someone else.


• What are your primary career ambitions?

• Do you prefer changes in your work responsibility rather than permanent, unchanging tasks?

• What do you dislike about your work?

• Is it important for you to receive recognition?

• When do you feel the most fulfilled by your work?

● What intangible characteristics of a career are most important to you?


What’s Most Important?

IncomeRetained earningsReturn on investment

Personal Satisfaction

Status


Personal Desires

What kind of work excites you?How do you feel about working with people?How much time do you want to devote?How involved do you want to be?Do you like to travel?Do you like to work at night?Do you want to work full time?


SWOTStrengths – Weaknesses -

Opportunities - Threats

Abilities and talents

Inventory of skills

Financial capabilities


STRENGTH/WEAKNESSCapabilities? Competitive advantages? USP's (unique selling points)? Resources, Assets, People? Experience, knowledge, data? Financial reserves, likely returns? Accreditations, qualifications, certifications? Processes, systems, IT, communications? Cultural, attitudinal, behavioural?


OPPORTUNITIESMarket developments?Competitors' vulnerabilities?Industry or lifestyle trends?Technology development and innovation?New markets, vertical, horizontal?Tactics - surprise, major contracts, etc?Business and product development?Partnerships, agencies, distribution?


THREATSLegislative effects?Environmental effects?IT developments?Market demand?New technologies, services, ideas?Sustaining internal capabilities?Loss of key staff?Sustainable financial backing?Economy - home, abroad?


SWOT


The Business Plan

A business plan serves as a manual to help the entrepreneur during the design and start-up phases of the business.

It also states the entrepreneur’s expectations, which serve as criteria by which business performance can be periodically evaluated.


The Business Plan

COVER SHEET

STATEMENT OF PURPOSE

TABLE OF CONTENTS

EXECUTIVE SUMMARY


The Business Plan (continued)Sections

1. Concept History and Background 2. Goals and Objectives 3. Marketing Plan 4. Legal Requirements5. Form of Ownership 6. Financial Plan 7. Organization, Management, and

Staffing Plan8. Special Considerations


Links

http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2322

http://academicearth.org/lectures/choosing-your-business-partner

http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2325


INTERNET TOOLSWEB SITE

SEE – WWW.TVOINDUSTRIES.COM

EMAIL ADDRESSUSE – [email protected]

BLOGSEE - [email protected]

LINKEDIN.COM – FACEBOOK.COM – ETC.TVO Industries, Inc. 20

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For A Project Manager“I translate the Tower of techno-Babble. I'm

Paul Coker.Some companies call my job project management or technical team leading. I help teams reach their goal better/faster/cheaper by welding radically different perspectives into a single team effort, avoiding wasted or dead-end efforts. Do you know of any companies that might need that kind of leader for a team of tech specialists?”


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Entrepreneurship To Be Successful