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From Idea to Business
“I have an idea... how do I turn it into a business?”
Many businesses start with a great idea. But a great
idea isn’t enough; you have to make it a great business. If you know
business, that might be easy.
Building a business takes four things: a product or service, a business
model, a team, and money. There is no standard order to gathering these,
though they all affect each other. For instance, raising money first
makes it easier to attract a top-notch team, but you will have to give
up more of your equity to raise the money. Having a prototype first
makes raising money easier, but without money, prototyping must be done
on a shoestring. The tradeoffs will reflect your judgment, willingness
to take risks, and the circumstances that come your way.
What is Entrepreneurship?
"… one who undertakes the organization and management
of an enterprise involving independence and risk as well as the opportunity
for profit…"
"Entrepreneurship is a management style that involves pursuing
opportunity without regard to the resources currently controlled. Entrepreneurs
identify opportunity, assemble required resources, implement a practical
action plan, and harvest the rewards in a timely, flexible way."
“Any attempt at new business or new venture creation,
such as self-employment, a new business organization, or the expansion
of an existing business, by an individual, a team, or an established
business.”
Those definitions are only two of many definitions of entrepreneurship.
Entrepreneurship is very popular and in last time very often object
of thought among ambitious students, business people, creative persons...
But what does the person need and what is the way to became successful
entrepreneur? No one has the right answer on this question, it is different
from case to case :(
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