Entrepreneurship and starting a small business

What does it takes to be an entrepreneur?

Self-directed. You should be self-disciplined and thoroughly comfortable being your own boss. You alone will be responsible for your success or failure

Self-nurturing. You must believe in your idea even when no one else does, and be able to replenish your own enthusiasm.

Action-oriented. Great business ideas are not enough. Most important is a burning desire to realize, actualize, and build your dream into reality.

Highly energetic. It’s your business, and you must be emotionally, mentally, and physically able to work long and hard.

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enterprise zones-

specific geographic areas to which governments attract private business investment by offering lower taxes and other government support

-intrapreneurs

creative people who work as entrepreneurs within corporations. The idea is to use a company’s existing resources to launch new products and generate income

Affiliate marketing

is an online marketing strategy in which a business rewards individuals or other businesses for each visitor or customer the affiliate sends to its website

-small business

is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size in terms of employees or annual receipts under 2.5 million per year

Managing a small business

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Planning your business

Financing your business

Knowing your customers

Managing your employess

Keeping records (accouting)

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Business Plan-

business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner :