Entrepreneurship: Difference between revisions

From Wikistudy.ByJuho.fi
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So you want to be an entrepreneur..
So you want to be an entrepreneur..


* Make a '''[[w:business plan|business plan]]''' carefully. It will help clarify your own thoughts about your '''[[w:business idea|business idea]]''' and help in finding and [[w:negotiation|negotiating]] [[w:financing|financing]]
* Make a '''[[w:business plan|business plan]]''' ( [[w:fi:Liiketoimintasuunnitelma]] )
* Decide on '''[[w:type of business entity|type of business entity]]'''
 
* '''[[w:Startup company|Startup]]''' with '''[[w:seed funding]]''' and '''[[w:entrepreneur|entrepreneur]]''' startup money from gov't ( requires [[w:unemloyment|unemloyment]] status to be eglible, ask for "starttiraha" )
carefully. It will help clarify your own thoughts about your '''[[w:business idea|business idea]]''' and help in finding and [[w:negotiation|negotiating]] [[w:financing|financing]]
* Develop your [[w:SME]] with '''[[w:venture capital]]''' and/or internal funding from revenues.
* Decide on '''[[w:Types of business entity]]'''( [[w:fi:Yhtiömuoto]] )
* '''[[w:Startup company|Startup]]''' ( [[w:fi:Startup-yritys]] )  with '''[[w:seed funding]]''' and '''[[w:entrepreneur|entrepreneur]]''' ( [[w:fi:Yrittäjä]] ) startup money from gov't ( requires [[w:unemloyment|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 ===
=== Develop a more mature business ===
* Raise funds with making new [[w:shares]] and selling them i.e. directed share emission ( causes dilutation of the existing shares )
* Raise funds with making new [[w:shares]] ( [[w:fi:Osake]] )  and selling them i.e. directed share emission ( causes dilutation of the existing shares )
* [[w:Mergers and acquisitions|Mergers and acquisitions]] and [[w:Corporate takeover|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 )
* [[w:Mergers and acquisitions|Mergers and acquisitions]] ( [[w:fi:Yritysten sulautuminen]] )  and [[w:Corporate takeover|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 )
* '''[[w:IPO|List shares publicly on a stock exchange a.k.a. an IPO]]''' - Enlisted companies have much better [[w:liquidity]]
* '''[[w:IPO|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 ===
=== Resource for the enterepreneur ===
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:#) Totally new business with new business idea
:#) Totally new business with new business idea
:#) Acquisition of an existing business
:#) Acquisition of an existing business
:#) '''[[w:Franchising]]''' is the practice of using another firm's successful business model. ( Wikipedia )
:#) '''[[w:Franchising]]''' ( [[w:fi:Franchise]] ) is the practice of using another firm's successful business model. ( Wikipedia )


Types of business ideas:
Types of business ideas:
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:#) Marketing idea
:#) Marketing idea


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


A '''[[w:risk]]''' can be a competitive risk, a technical risk or a '''[[w:financial risk]]'''.
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 )
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 )

Revision as of 11:28, 21 August 2013

w: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

Starting and developing a business

So you want to be an entrepreneur..

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

Develop a more mature business

Resource for the enterepreneur

Resources for the entrepreneur courtesy of GloBBA12.SI study wiki

Entrepreneurship class week 6

Different ways of becoming an entrepreneur

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

Types of business ideas:

  1. ) Product idea
  2. ) Service idea
  3. ) 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

Business idea development process:

  1. ) Idea
  2. ) Analyze markets
  3. ) Solution
  4. ) Figures ( to prove liability )

Entrepreneurship class week 17

How to get funding?

SME

Large business

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