Throughout the years I have come up with many great ideas which seemed feasible and profitable. So how was I able to generate so many ideas, that I filled journals with them? And how can you do it too?. It all started in 2001, when I was running my first company, Globaxe Enterprise, trading in Laptops, mobile phones and car ... Read More »
Developing the right ecosystem for Entrepreneurship Development and one where start-ups can start smoothly and strive should be every government’s role. For an entrepreneurial environment to help companies start and grow, you need the government to provide a proper regulatory system that would not only provide the structure for companies to conduct business, but also give them the freedom to ... Read More »
While entrepreneurs laboriously engage in extensive planning and forecasting, the reality is that it is impossible for them to predict all conditions and assumptions especially in the future. So, even though the business plan and financial projections may be based on certain assumptions and be contingent upon certain environment factors, be mentally prepared that things may not go as planned. ... Read More »
If you know the enemy and know yourself, then you need not fear 100 battles – Sun Tzu So, we wrote before on why Entrepreneurs tend to strive against odds that are stacked against them, and still come out on top (Art0003 – Beating the Odds). While beating the odds may seem impossible, it is actually feasible if steps are ... Read More »
Planning for a company’s cash needs is important as even during the time of best profits; because if a company’s cash flow is mismanaged, it can still collapse. Many entrepreneurs use the cash flow statement to gauge the company’s pulse and sustainability. The cash flow statement should accurately depict how the cash will be used in a given period of ... Read More »
“It is a tough call, so think and act, and then don’t ever regret.” Mr Inderjit Singh, The Art and Science of Entrepreneurship Time is of the essence and knowing when the time is right to embark on your entrepreneurial venture may be easier said than done. The harsh reality is that hard work alone may not pay off. Entrepreneurs ... Read More »
Knowing what resources you have at any point of time will help you allocate them better and use them more efficiently to enhance your business. Financial planning is crucial to any start-up; time and effort needs to be invested in drafting clear financial statements to keep track of a company’s finances. In the previous article, we looked at the income ... Read More »
While innovation and creativity are used synonymously, they do not quite mean the same thing when it comes to entrepreneurship. Creativity as discussed in the previous article is the first step towards embarking on an entrepreneurial venture as it empowers people to conceive novel and unique ideas. However, once these ideas have been conceived, innovation comes into play in transforming ... Read More »
At its very core, the function of a business is to make money. The main reason for a company to be registered is so that it can be accountable, if not its just people who are giving away their services for free. If any entrepreneur says they are not in it for the money (at all), then they should not ... Read More »
The common characteristics of creative minds are that they are curious and they think out-of-the-box. Curiosity leads people to experiment with different ideas and explore alternatives. Their thirst for knowledge would lead them in the quest of looking at how things work. Sometimes even taking apart equipment to see how each function works. This helps them to think of solutions ... Read More »
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