QUALITY OF ENTREPRENEURS

ENTREPRENEURS ARE Non-Conformist Risk-taken Flexible Hard-working Goal-setter Enthusiastic Optimistic Resourceful Independent Hard working Strong leader

PASSION FOR WORK Sense of optimism Sense of purpose Sense of challenge Sense of ownership whatever you do Entrepreneurial success is a

highly collaborative process

KEY INGREDIENTS FOR ENTREPRENEURSHIP

Personal characteristics Technical know-how Marketable Idea Contacts for Assistance Financial Resources Potential customers Supportive Life-style Personal Motivation Leadership Experience

CREATIVITY A new way of thinking about

everything Openness to change Willing to try new things Persistence in seeking possibilities Open to brainstorming ideas Dedication to doing it better Thinking about what you see and hear

TYPE OF ENTREPRENEURS Self-Employed Team Builders Inventors Pattern Multipliers Economy of Scale Operators Acquirers Speculators Internal Entrepreneurs

BUSINESS PLAN

PART I Description of the Business Products/Services Unique competitive advantages Growth opportunities Goals and objectives

BUSINESS PLAN

PART IIProduction /Operations Plan Suppliers Regulations Layout Inventory Controls Equipment

BUSINESS PLAN

PART IIIMarketing Plan Target Market/Current size and

potentials Industry characteristics and trends Competitors Marketing strategies

BUSINESS PLAN

PART IVManagement Plan Legal issues Support systems Organizational systems Employee Management

BUSINESS PLAN

PART VFinancial Plan Income Estimation Estimation of costs Cash flow planning Personal financial needs Financing options