Entrepreneurship

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“Entrepreneurship comes from the French verb 'entreprendre' which means 'To undertake,' is the act and art of being an entrepreneur or one who undertakes innovations or introducing new things, finance and business acumen in an effort to transform innovations into economic goods.”
~ Wikipedia on entrepreneurship

Entrepreneurship

Teacher: Ville Hanni

Study material: ?

Part of Developing Entrepreneurial Competencies

Starting and developing a business

So you want to be an entrepreneur..

Make a business plan ( w:fi:Liiketoimintasuunnitelma )

carefully. It will help clarify your own thoughts about your business idea and help in finding and negotiating financing

Decide on w:Types of business entity ( w:fi:Yhtiömuoto )
Startup ( w:fi:Startup-yritys ) with w:seed funding and entrepreneur ( w:fi:Yrittäjä ) startup money from gov't ( requires unemloyment status to be eglible, ask for "starttiraha" )
Develop your w:SME with ( w:fi:PK-yritys ) w:venture capital ( w:fi:Pääomasijoitus ) and/or internal funding from revenues.

Develop a more mature business

Raise funds with making new w:shares ( w:fi:Osake ) and selling them i.e. directed share emission ( causes dilutation of the existing shares )
Mergers and acquisitions ( w:fi:Yritysten sulautuminen ) and Corporate takeover can be done by swapping of shares ( merger ) or emission of shares ( acquisition of new business by giving it's former owners shares in your business )
List shares publicly on a stock exchange a.k.a. an IPO ( w:fi:Emissio (taloustiede) ) - Enlisted companies have much better w:liquidity ( w:fi:Maksuvalmius )

Resource for the enterepreneur

Resources for the entrepreneur courtesy of GloBBA12.SI study wiki

Entrepreneurship class week 6

Different ways of becoming an entrepreneur

) Totally new business with new business idea
) Acquisition of an existing business
) w:Franchising ( w:fi:Franchise ) is the practice of using another firm's successful business model. ( Wikipedia )

Types of business ideas:

) Product idea
) Service idea
) Marketing idea

w:Market segmentation ( w:fi:Segmentointi ) is a w:marketing strategy that involves dividing a broad w:target market into subsets of w:consumers who have common needs (and/or common desires) as well as common applications for the relevant goods and services. ( Wikipedia )

A w:risk ( w:fi:Riski ) can be a competitive risk, a technical risk or a w:financial risk.

A w:feasibility analysis is an evaluation and analysis of the potential of the proposed project which is based on extensive investigation and research to give full comfort to the decisions makers. ( Wikipedia )

Entrepreneurship class week 13

w:PESTEL analysis

Business idea development process:

) Idea
) Analyze markets
) Solution
) Figures ( to prove liability )

Entrepreneurship class week 17

How to get funding?

SME

FFF ( Family, Friends , Fools )
w:Venture capital ( w:equity investment )
w:Loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. ( Wikipedia )
w:Tekes, Finnvera etc.
Finnish Venture Capital Association has some information

Large business

Selling w:shares

A share is a single unit of ownership in a w:corporation, w:mutual fund, or any other w:organization. ( Wikipedia )

Selling options ( w:fi:Optio )

An option is a contract which gives the owner the right, but not the obligation, to buy or sell an w:underlying w:asset or instrument at a specified w:strike price on or before a specified date. ( Wikipedia )

Selling w:convertible bonds ( w:fi:Vaihtovelkakirja )

A Convertible bond or a convertible note (a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into shares of w:common stock in the issuing company or cash of equal value, at an agreed-upon price. ( Wikipedia )

Equity based loans

A w:Public offering is the offering of securities of a company or a similar corporation to the public. ( Wikipedia )

- An w:initial public offering (w:IPO) or stock market launch is a type of w:public offering where shares of w:stock in a company are sold to the general public, on a w:securities exchange, for the first time. Through this process, a w:private company transforms into a w:public company. Initial public offerings are used by companies to raise expansion capital, to possibly w:monetize the investments of early private investors, and to become publicly traded enterprises. ( Wikipedia )

Selling w:bonds

In w:finance, a bond is an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them w:interest (the coupon) and/or to repay the principal at a later date, termed the maturity.

Other stuff

w:Hedge funds ( w:fi:Hedgerahasto ) are private, actively managed investment funds. They invest in a diverse range of markets, investment instruments, and strategies and are subject to the regulatory restrictions of their country. ( Wikipedia )