"The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.”
Since the Entrepreneurship section has been added to this forum I thought I’d put up some resources for those who are interested.
I hope the Entrepreneurs of Boards can help me here as I am not an Entrepreneur. I have studied it in College briefly and like everyone else, I have my ideas which I would one day like to put into action.
There are plently of websites and books that tell you to follow steps when starting a new business. Many others simply go for it without doing anything prior to start up.
One thing is certain for any budding Entrepreneur and that is that Market Research is vital.
Coming up with the idea and imagining the possibilities is the easy part. The research that goes into your idea is what proves invaluable in determining your idea's potential.
Your friends or Parents telling you it’s a great idea is not enough.
Successful Market Research gives you the information you need to either go ahead with your idea, make adjustments to it or scrap it altogether.
The four main Variables you should look at when undertaking Market research are:
1. Customers. Possibly the most important of all. These are the people who will be buying your product/service. Speak with a suitable market sample, write questionairres, hold focus groups, find out what they want the product/service and what benefits they can achieve from using it.
2. Company. Positioning is about creating an image in the minds of your customers. Think of how you want your Company to be perceived, what key messages you want to get across and the core promises you'll be making to customers.
3. Competitors. An extremely important variable that should not and cannot be ignored. Conduct a Competitor analysis and find out exactly how many Companies (if any) are undertaking your idea. How are they doing it? What are they doing badly that I can capitalize on? How much are they charging? There are a million questions to find out about your competitors, find out more from the links below.
4. Investors: These are the people who have/may have a vested interest in the company. Conduct a SWOT analysis and find out if there are individuals/Companies who could possibly gain from your idea.
If you keep these variables at the forefront of you mind, your analysis will help you discover whether your idea has any gaping holes that need to be attended to.
Check out the following thread:
A quick and inexpensive way to find out if there is a market for your product/service.
Once you think your research is complete and ready for the go ahead you can start to look at the following:
-Writing a Business Plan
- Calculating Startup costs
-Registering a business name
-Develop a Marketing Plan
Entrepreneurship Websites, Resources & Courses:
Your Local Enterprise board
http://www.sfa.ie (small firms association)
http://www.ncirl.ie/icelt (International Centre for Education & Learning Technologies)
All the info you need about webpayments
Obviously there is a lot more to starting a business than the above so If anyone wants to add their advice, experiences or links please do so and i'll sticky this.
Essential Reading (Thanks to Deaddude for compiling)
[If anyone wants to add a review, just PM one of us and we'll add it.]
I thought we could share some books on entrepreneurialism, give opinions and reviews. I've just finished reading Duncan Bannatyne's 'Anyone Can Do It' autobiography. Ill give a review for it and perhaps we can update this thread every so often with more reviews?
"Anyone Can Do It" - Duncan Bannatyne
Very inspiring read, duncan tells about his life as a child with the navy. When at age 30 he decided he wanted to become a millionaire after reading a newspaper article then 5 years later he accomplished it. Some excellent tips and tactics also
4/5 - the writing was slightly poor -- Deaddude
"The 4 Hour Work Week" - Tim Ferris
-- Fancy Dresser
"E-Myth" - Michael Gerber
Talks through the setup and problems of an entrepreneur
-- Fancy Dresser
"How to Win Friends and Influence People" - Dale Carnegie
Written in 1931 and still relevant today, very insightful comments on human dynamic.
-- Fancy Dresser
"Who Moved My Cheese - Spensor Johnson
Explains that what was working yesterday doesn't necessarily work today. Change and moving on is part of the experience of life - don't get left behind and don't fear it.
-- Fancy Dresser
"80/20 Principle - Richard Koch
Written along the same lines of the four hour work week, Ie. Do more by doing less.
"Enter The Dragon" - Theo Paphitis
Excellent book by Theo, really interesting read. Follows his life story how he bought failing businesses turned them around and sold at a massive profit!
"The Snowball" - Warren Buffet read by Alice Schroeder
"The One Minute Manager" - Kenneth H. Blanchard & Spencer Johnson
"The Real Deal" - James Caan
Updated 26/10/10 [/URL]
In the well - Q&A sessions for the B&E management forum.
Ling from lingscars.com
Fancy dresser AKA thecostumeshop.ie:Ronan