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How to Start a Business

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Submitted By moransaki
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Deciding on a Business
Provided by My Own Business, Content Partner for the SME Toolkit
OBJECTIVE: The most common serious mistake made in business is not picking the right business to begin with. This session will provide you with important evaluation techniques to decide which business is right for you. * Characteristics of a Successful Entrepreneur * Step-by-Step Approach * Decide if you really want to be in business * Decide what business and where * Decide whether to start full-time or moonlight * Selection Strategy * Things to Watch Out For * Required Activities * Comparative Evaluation * How to Evaluate a Specific Business you have in Mind * "For" and "Against" List * Get Completely Qualified * Decision Time * Top Ten Do's and Don'ts * Session Feedback and Quiz |
[Back to top]Characteristics of a Successful Entrepreneur | Dr. Dan Nathanson
Anderson Graduate School of Business UCLA | | | What are the biggest mistakes made when starting a business? | |
Guts: Guts means you must have an entrepreneurial instinct, which is an overwhelming desire to start your own business. You must have the guts and dedication to be completely devoted to your goal. Incidentally, devotion to your goal is much more likely if you have a love for your intended business. Life is too short to start your own business only to discover that it doesn't give you satisfaction and joy. And, through good times and bad times, you will stick with something you love.Brains: While appropriate educational credentials are important, entrepreneurial "brains" means more than scholastic achievements. To become a successful entrepreneur, you must have a working knowledge about the business you plan to start before you start it. Common sense combined with appropriate experience is the necessary brainpower. Prudence, follow through

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