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Market Entrepreneurs and Political Entrepreneurs

Market Entrepreneurs and Political Entrepreneurs

What is an entrepreneur? Well, in the United States of America there are two types of very successful entrepreneurs. There is the market entrepreneur and there is the political entrepreneur. The market entrepreneur makes money in the free market by delivering the lowest prices and the best quality and service to its customers and the consumer. The market entrepreneur wins markets and beats out the competition because they are better and more efficient.

The political entrepreneur uses the influence with government through various methods such as lobbying, political campaign contributions and networking with government bureaucrats to either win government contracts and make money or use this influence to get the government to make new rules and regulations and he is industry.

The political entrepreneur will also use his influence to get government bureaucratic regulatory bodies at all levels of government to attack his competition. There is a big difference in market entrepreneurs and political entrepreneurs. Unfortunately, genuine Capitalism getting clobbered by political entrepreneurs coaxing government agencies to constantly attack market entrepreneurs.

The economy and the free market and capitalism for that matter works better with the most efficient companies compete on a level playing field where the consumer and the buyer votes with their dollar for the best products and services at the best possible prices. There is nothing wrong with capitalism there is only something wrong with the way it is applied in United States of America. It could be done a lot better.

Source: Source by Lance Winslow


Best Reliable Sources for Small Business Funding

Best Reliable Sources for Small Business Funding

When a small business needs funding, where does it turn? There are plenty of ways for a small business to gain funding, each with their own unique advantages. While one may be good for a particular business, another may be more suitable to the next business. It all depends on the preferences of the small business and whether or not it will get approved. For small business owners looking to move up in the world, check out this list of sources to gain capital fast.

  1. Banks

This is probably the first thing anyone thinks of when it comes to loans. After all, lending money to clients and collecting the interest is one of the ways banks make their profits. It’s usually pretty easy to get approved with a good credit score. However, as it was just stated, banks make money off interest. Therefore, the interest rates on traditional bank loans tend to be a little higher than from other sources, although it varies with the market rate and the credit rating of the applicant.

  1. Merchant Cash Advance

Although similar to a bank loan, a merchant cash advance is usually safer and generates less interest. First of all, getting approved with a company like Water Street Capital is a much easier process than via a bank. As long as business grosses an average of $10,000 a month it can start applying confidently for up to $500,000! The application can be submitted online and usually takes about 3 business days to receive the money, however, the business can use the money for an array of different needs such and advertising, payroll, expansions, upgrades and more!

The way the client pays back the loan is also fundamentally different and makes this option one of the best for small businesses. The business agrees with the lender to repay the loan with a small percentage of their sales every month (like taxes). The amount is automatically taken out every month and varies with the success of the business. If it has a slow month, it pays less and if it finds itself enjoy more profits, it will pay off the debt faster!

  1. Crowdfunding

While it can’t really be labeled a “reliable” source, crowdfunding has skyrocketed in popularity in the past few years with sites such as Indiegogo and GoFundMe. It can be a great way to gain investors for a small business looking to expand. If the product is popular enough or unique enough, it will surely gain backers. However, it can’t always be counted on to come through. If the business doesn’t receive enough investments to reach its minimum goal, it receives nothing. It’s not the source to turn to for large financial requests, but it has proven to be effective in the past, sometimes with businesses even generating millions of dollars!

Source: Source by Amarion Smith


How To Evaluate A Business Idea For Developing An Enterprise

How To Evaluate A Business Idea For Developing An Enterprise

Why Do You Need A Business Plan?

Planning is a process that never ends for all businesses. It is extremely important in the early stages of any venture when the entrepreneur will need to prepare a preliminary business plan.

There are different types of plans that may be part of any business operation. These include but not limited to Financial plans, Marketing plan, Human Resource plan, Production plans, Sales plans etc. Plans may be short term or long term or may be strategic or operational. Whatever the type of plan or the function, plans have one important purpose; to provide guidance and structure to management in a rapidly changing market environment.

A business plan on the other hand is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture. It is often an integration of functional plans such as marketing, finance, manufacturing and human resources. It also addresses both short term and long term decision making for the first three years of operation. Thus, the business plan, or road map, answers the strategic questions of where am I now? Where am I going? And how will I get there? Potential investors, suppliers and even customers will request or require a business plan.

How I Prepared My Preliminary Project Proposal

In my case, I followed the following break downs keeping each section as brief as possible.

1. Background: in this section, I established the context of the project by giving an account of the problem it is trying to address.

2. State of the art: I gave an overview of existing and emerging technology in the field, including an account of rival technologies and a comparison of the advantages and disadvantages of the various options.

3. Proposal: I wrote an overview of the proposed project and the approach, i.e. the activities which I will be undertaken to achieve the project objectives. Clearly establish the research element or novelty component in the proposal.

4. Consortium: an overview of the proposed manpower and establish the required ability to carry out the project successfully (e.g. skills, competencies, etc.)

5. Objectives and Deliverables: Identify (1) the objectives and (2) the deliverables of the proposed project.

6. Competitiveness: if applicable, establish the competitiveness or advantages of the proposed solution compared to other solutions, whether these already exist or are still being researched.

7. Cost: give an overview of the project cost (including start-up cost and working capital requirements).

8. Impact: this section should include:

i. Markets and Uses: identify possible uses and markets for the deliverables of the project.

ii. Benefits and Beneficiaries: identify the beneficiaries of the project’s results (e.g. the project participants, the general public, third parties) and the manner in which they will benefit.

iii. Roadmap: give an indication regarding what further steps, effort, costs and timeframes are necessary before tangible benefits can be realized from the deliverables or results of the project (unless these are realized within the lifetime of the project).

iv. Spillover Benefits: identify any secondary benefits of the project (e.g. facilitating participation in funding programmes, improving Malta’s ranking, strengthening Malta’s reputation in a particular area, etc.)

Preparing a Detailed Business Plan

Stages of writing a business plan are: After deciding to go into business, before starting the business and when updating is required.

Business plans can be written for retail business, wholesale business, service business, manufacturing and any other type of business.

A business plan is written by doing the following:

Identifying all the questions that could be asked about the business.

Determining what further information needs to be gathered to answer all the questions.

Obtaining all the necessary information.

Comparing various alternatives

Making a decision on each question.

A business plan should:

Have a good appearance

Provide an index

Provide a summary

Number each copy

Be signed to show who is submitting it.

Depend on the nature of the business.

A business plan should be organized to carry a cover page, table of contents, executive summary, business description, Marketing plan, organizational plan, operational plan, financial plan and appendices.

Outline of a typical business plan is as below;

1. Title: Feasibility study Report on______________________

Commissioned by_________________________

2. Project consultants

3. Table of contents:

Executive Summary

The Report

Project Background

Objective of study

Project description and

Loan advancement

Promoter

Location

Market and marketing plan

Potential customers

Competition

Pricing

Sales Tactics

Advertising and Promotion

Distribution.

Technical Feasibility and management plan:

Factory

Machinery

Overhead charges

Packaging materials

Raw materials Manpower and Labour costs.

Financial Projection/Feasibility:

Overview on capital requirement

Financial plan

Projected cash flow

Projected profit and loss account

Projected balance sheet

Break-even analysis

Source and application of funds

Organization Plan:

Form of ownership

Identification of partners/Principal shareholders

Authority of Principals.

Management team background

Roles and responsibilities of members of organization

Assessment of Risk:

Evaluate weakness of business

New technologies

Contingency plans.

Schedules:

12 months projected sales

12 months projected purchase

Fixed Assets and depreciation schedule

Profitability index.

Thanks for reading

Source: Source by Sam Ayodeji Sanyaolu


Cyber Crimes And Solutions

Cyber Crimes And Solutions

We are currently living in Cyber age, where Internet and computers have major impacts on our way of living, social life and the way we conduct businesses.

The usage of information technology has posed great security challenges and ethical questions in front of us. Just as every thing has positives and negatives, usage of information technology is beneficial as well as insecure.

With the growth of the internet, network security has become a major concern. Cyber crimes have emerged rapidly in the last few years and have major consequences. Cyber criminals are doing every thing from stealing money, hacking into others computer, stealing intellectual property, spreading viruses and worms to damage computers connected on the internet and committing frauds.

Stoppage of cyber crimes is a major concern today.

Cyber criminal make use of the vulnerabilities in computer soft wares and networks to their advantage.

Hacking:

Hacking or Cracking is a major cyber crime committed today. Hacker makes use of the weaknesses and loop holes in operating systems to destroy data and steal important information from victim’s computer. Cracking is normally done through the use of a backdoor program installed on your machine. A lot of crackers also try to gain access to resources through the use of password cracking softwares. Hackers can also monitor what u do on your computer and can also import files on your computer. A hacker could install several programs on to your system without your knowledge. Such programs could also be used to steal personal information such as passwords and credit card information. Important data of a company can also be hacked to get the secret information of the future plans of the company.

Cyber-Theft:

Cyber-Theft is the use of computers and communication systems to steal information in electronic format. Hackers crack into the systems of banks and transfer money into their own bank accounts. This is a major concern, as larger amounts of money can be stolen and illegally transferred.

Many newsletters on the internet provide the investors with free advice recommending stocks where they should invest. Sometimes these recommendations are totally bogus and cause loss to the investors. Credit card fraud is also very common.

Most of the companies and banks don’t reveal that they have been the victims of cyber -theft because of the fear of losing customers and share holders. Cyber-theft is the most common and the most reported of all cyber-crimes. Cyber-theft is a popular cyber-crime because it can quickly bring experienced cyber-criminal large cash resulting from very little effort. Furthermore, there is little chance a professional cyber-criminal will be apprehended by law enforcement.

Viruses and worms:

Viruses and worms is a very major threat to normal users and companies. Viruses are computer programs that are designed to damage computers. It is named virus because it spreads from one computer to another like a biological virus. A virus must be attached to some other program or documents through which it enters the computer. A worm usually exploits loop holes in soft wares or the operating system. Trojan horse is dicey. It appears to do one thing but does something else. The system may accept it as one thing. Upon execution, it may release a virus, worm or logic bomb. A logic bomb is an attack triggered by an event, like computer clock reaching a certain date. Chernobyl and Melissa viruses are the recent examples.

Experts estimate that the Mydoom worm infected approximately a quarter-million computers in a single day in January 2004. Back in March 1999, the Melissa virus was so powerful that it forced Microsoft and a number of other very large companies to completely turn off their e-mail systems until the virus could be contained.

Solutions:

An important question arises that how can these crimes be prevented. A number of techniques and solutions have been presented but the problems still exists and are increasing day by day.

Antivirus And Anti spyware Software:

Аntivirus software consists of computer programs that attempt to identify, thwart and eliminate computer viruses and other malicious software. Anti spy wares are used to restrict backdoor program, trojans and other spy wares to be installed on the computer.

Firewalls:

A firewall protects a computer network from unauthorized access. Network firewalls may be hardware devices, software programs, or a combination of the two. A network firewall typically guards an internal computer network against malicious access from outside the network.

Cryptography:

Cryptography is the science of encrypting and decrypting information. Encryption is like sending a postal mail to another party with a lock code on the envelope which is known only to the sender and the recipient. A number of cryptographic methods have been developed and some of them are still not cracked.

Cyber Ethics and Laws:

Cyber ethics and cyber laws are also being formulated to stop cyber crimes. It is a responsibility of every individual to follow cyber ethics and cyber laws so that the increasing cyber crimes shall reduce. Security softwares like anti viruses and anti spy wares should be installed on all computers, in order to remain secure from cyber crimes. Internet Service Providers should also provide high level of security at their servers in order to keep their clients secure from all types of viruses and mallicious programs.

Written by:

Shaikh Mohsin Ayaz

Department of Computer Science, University of Karachi

Source: Source by Mohsin Ayaz


Why Is Budgeting Important for the Entrepreneur?

Why Is Budgeting Important for the Entrepreneur?

I’ve had many to inquire of why budgeting is so important for the entrepreneur? I’ve especially seen these inquiries from solopreneurs or small businesses of one or two people. Let me just say first that having a budget is one of the key components to a successful business no matter the size. How do you know where you’re going, if you don’t have a plan for getting there? How do you know how well your business is progressing or not, if you don’t have something to measure your performance against? Simply put, a budget is a financial plan and helps you to manage the future income and expenses of your business. It reflects the goals & objectives of your business combined with how you believe your resources will be used. However, it doesn’t stop there, a budget serves as the roadmap for your business. It aids in providing a compass for making important business decisions in a more efficient manner to ensure that your business is heading in the right direction. A budget also empowers you to think more about the future and anticipate what could possibly happen in your business, which in turn makes for effective management.

Here are other reasons why I believe budgeting is important to the success of any business:

1.) Provides insight into your business and sheds light on if your business is financially on the right path.

2.) Creates a performance measurement mechanism in which you are able to understand what your business is doing compared to what you thought or planned.

3.) A budget shows that you are a serious entrepreneur which makes your business attractive to potential investors and is a critical component in getting funding from a bank.

4.) Acts as a management tool for running your business on a daily basis.

5.) You are able to make adjustments early once you realize that your business may not be reaching its planned goals.

6.) Due to a budget being a forward thinking document, it serves as a planning tool for future growth.

7.) Produces discipline in that as an entrepreneur you are more aware of your expenditures and more careful to manage costs in order to ensure that you reach your established goals.

Source: Source by Antonina Geer


5 Tips for Writing Website Content for Your Small Business

5 Tips for Writing Website Content for Your Small Business

Regarding your online presence, your website is, in essence, an ambassador for your business. Through it, you present your small business to your customers so they can understand all you offer.

Are you conveying a clear and compelling message through your website content? Here are 5 tips for writing website content that engages your niche market:

1. Make your copy current

Don’t assume you can toss any old article or other form of content on your website to fill up space and engage your site visitors. People check out… and stay on… websites that offer timely and useful information. Update your site regularly on what products and/or services your business offers.

2. Have a focus for each page on your site

Don’t have your “About Us” page offering product warranty information. Don’t have a Product page crowded with customer service information. Have a specific purpose for each page. Don’t confuse visitors with a mish-mash of information loaded on one page touching on varied subjects.

3. Incorporate some white space

Make it gentle on your visitors’ eyes through integrating white space on your web pages. It’s an eyesore to have copy that extends from margin to margin. It’s also an eyesore, as well as annoying, to have to scroll endlessly to read with no break in the text. Create white space pauses to let your site visitors easily read your content.

Create white space, and appealing organized content, through the use of headlines, sub headlines, and bullet points. Add photos, graphs, graphics, and such to further enhance your page copy and give readers a break from big blocks of text.

Use shorter paragraphs. Use shorter sentences than you would in a hard copy piece of writing. Reading on a screen for an extended length of time is still a chore for some people, especially when the material is not organized properly for web reading.

4. Make your content SEO suitable

Is the content you put on your site Search Engine Optimized? Integrate search terms appropriate for your business into the articles, blog posts, and other content you place on your different web pages.

If your business is selling gloves, you would have the word “gloves” in your copy of course. However, you can refine this further with phrases such as “men’s gloves”, ‘women’s gloves”, and more. Long-tail keywords are effective as well, and very specific. You can really do niche targeting with long-tail phrases. An example would be “suede women’s gloves for casual occasions”. The permutations are endless but you get the drift here.

Don’t overdo keywords, though. Make sure your content reads naturally and conveys useful information in an easy-to-read way to your readers.

5. Have your pages focus on your customers

Your web pages must center on your customers and their wants and needs. Yes, you do have to give information about your small business, what you offer, and even your history in the business. Nevertheless, gear all copy to the customer, and how your business overall exists to serve them and give them the solutions and benefits they need.

Take the time to create compelling website copy that gets your message across clearly to your customers (and potential customers). Consider the above 5 tips for writing website content that connects with your visitors and spurs them to stay on your site and see all you have to offer them.

Source: Source by Michael E Ugulini