Business Entrepreneurship

Less capital to start a business? In the work of a large private enterprise Liu Feng has said in an interview: “I graduated from university to work has been more than two years, has always wanted to save some money own business, save now the more than 30,000 yuan. I do not want to borrow money, do not know what it 30,000 yuan to launch the kind of entrepreneurial projects. “center of China Youth Daily social survey recently done by the Joint Tencent network of” young people how to treat the domestic business environment “The survey results, 56.3% believe the state should give priority to supporting small-scale, low-cost venture. In applying for bank loans, venture capital difficult circumstances, the cost of business seems to be small, “the boss” of choice.

Jing Beijing Langfang borrowed a year ago by a few million business, run from a plastic bag factory. Proper operation of the mill is on track, the government issued a policy on June 1 this year, the country of all supermarkets, shopping malls, bazaars and other retail establishments are prohibited from providing free plastic shopping bags. “This policy too much influence on me, I borrowed money just to pay off, about to have income, the state introduced the policy will significantly reduce the use of plastic bags, we factory may be difficult survive. appears to be the project had not elected, and now I am considering to turn off the factory, looking for a small cost of the new venture. But looking for a small cost for the project is really difficult to start. “Jing expression their concerns.

“Good project is the protection of small business success. Start early, often face the problem of lack of funds, the entrepreneur may wish to look them up without spending means business.” State business divisions, business teacher qualification Chief Expert Panel Zhaoyan Chen said, “such as a family is now only one child, the child is the axis of household consumption, and the parents choose toys for infants and young children, the special focus on its safety, educational and personalized content on demand from toys to has a very high quality requirements. every child toys consumption per capita of 300 to 1000 per month, if open a Toy store Market investment potential. ”

2007, graduated from a university of international trade in professional Tse Ming would like to work at a company for some time and experience, and then their own business. “I want to shop selling toys, early to Zhejiang and Guangzhou have been investigated, it is China’s toy manufacturing base, to which manufacturers can work with manufacturers to establish a better relationship, since the convenience of getting goods. I have a junior high school students as well In this way, the same year to start his own toy store, now has earned several hundred thousand of the. “Xie say so.

Zhao Yanchen this proposal, Tse Ming should first enter the toy circulation, he said: “To operate and manage a toy’s ability to learn, production can not give up, and toy-related knowledge to know more about, including the procurement of raw materials , production processes, product packaging, and much more understanding, there are cost structure, quality standards and testing, to pricing. If you can stand the producer, that is, the perspective of the factory is how to deal with their business relationship, easier access to your factory. ”

As for venture capital, Xie Ming Zhao Yanchen recommendations based on their accumulated first, followed by a good personality to foster the image of resources to establish a good network of contacts, at the appropriate time to seek Cooperation Again to explore a successful small-scale model is shown advantages when you have already had to attract external funding conditions. “Solve the financing problem, must not only have an idea, or what to write a plan on looking for investors everywhere, so not only will not have any results, but also man without valuable time, energy and the already small number of funds. In funding issues, remember these words: based on their own, start small and create competitive advantages cooperation. ”

Start a long process, select the small cost of pioneering entrepreneurs, many people are first time entrepreneurs, they tend to lack business experience, Wong says that after his start-up plastic bag factory, a long time are learning how to operate and manage, “I’m more than a year is learning, learning with doing, but also quite a few detours, and was even once deceived customers and nearly led to capital-strand breaks.”

Initial business people should be how to manage a business? Zhaoyan Chen believes that management is come to the normal operation of the business across the border after the end of this thing, is to close a successful venture has been successful or when the business began to mention those things on the agenda.

In recent days, how to ease the employment problem as representatives of two members to participate in a common topic of concern. Counterparts in the relevant provinces and municipalities with the assistance of party newspaper, I interviewed a number of delegates, their common approach to expanding employment, pointing to a virtual network that the “network of employment,” the time has come. Blind students on-line business In Shanghai, the delegation, I heard the story of a business:
As of January 10, blind students from the five Shanghai Taobao shop founded by “intention create the world” more than 70 transactions completed, the credit rating to a “three hearts”, which means that their shops had been broken The island business successfully survive. This is the world’s first completely blind to create a successful online store, founded in September last year. Blind students using the software to read out the contents of the computer screen to complete the product Management , Customer communication and online Marketing , Is really “hearing” to business. To this end, they overcome a lot of difficulties, such as ordinary people a simple click Login, they need seven or eight steps in the operation of the keyboard. For consumers, this is only tens of millions of home Taobao, a general store. They do not rely on to win the sympathy of others to complete the transaction, because across the computer screen, most of the customers and their transactions do not know the owner is a special group of people who like Other Like chat, bargain, to complete the transaction. National People’s Congress Standing Committee Deputy Director of Hangzhou Huida to the author about such a case: Xuzhou sand town, used to be a lack of resources, existing industry just “Shou Polan” place, but Internet business boom, driven by market town now has more than 1,200 sand Online Shop, 33 furniture factories, products are sold to major cities, courier companies, computer stores, carton plant, Adhesive Tape Factory, Hardware Accessories factory peripheral industries are also developing, at present, the town up to 6 million yuan in courier fees. “Network is virtual, but the job is real. As a viable channel in employment, the importance of the network is increasingly apparent.” Network of long-term in the NPC, vice president of Qingdao University, Shao Fengjing introduction, the study said: the end of 2009, Taobao direct jobs created over more than 80 million, will drive about 2.28 million indirect jobs. Electronics Business Unlimited Potential 2010 years of government work report, the first proposed “strengthening the commercial circulation system and other infrastructure, and actively developing e-commerce.” Reason for the development of e-commerce, an important reason why it has become an important way to increase employment. National People’s Congress, China Mobile Guangdong Xu Long, General Manager introduced e-commerce transaction costs reduce the role of society, many consumers have by way of online shopping has personal experience. Asia’s largest network of retail platform Taobao, for example, in 2009 the trade volume of over 200 billion yuan. As of the end of 2009, Taobao has created 808,800 direct jobs, lead logistics, payment, marketing and other industry chain to 2,305,100 jobs. In addition, B2B features of the Alibaba Group has become a global influence e-commerce businesses, as of the third quarter of last year, Alibaba B2B platform for registered users reached 45.3 million, with 6.1 million enterprise shops. Which only engage in foreign trade business of international trading market to reach 10.5 million users, 10 million mark for the first time.

In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business – but you can improve your chances of success with good planning, preparation, and insight. Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Carefully consider each of the following questions:

Are you a self-starter? It will be entirely up to you to develop projects, organize your time, and follow through on details.

How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers, and professionals such as lawyers, accountants, or consultants. Can you deal with a demanding client, an unreliable vendor, or a cranky receptionist if your business interests demand it?

How good are you at making decisions? Small business owners are required to make decisions constantly – often quickly, independently, and under pressure.

Do you have the physical and emotional stamina to run a business? Business ownership can be exciting, but it’s also a lot of work. Can you face six or seven 12-hour workdays every week?

How well do you plan and organize? Research indicates that poor planning is responsible for most business failures. Good organization of financials, inventory, schedules, and production can help you avoid many pitfalls.

Is your drive strong enough? Running a business can wear you down emotionally. Some business owners burn out quickly from having to carry all the responsibility for the success of their business on their own shoulders. Strong motivation will help you survive slowdowns and periods of burnout.

How will the business affect your family? The first few years of business startup can be hard on family life. It’s important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk in the short-term.

Why Choose a Franchise?

If you are concerned about the risk involved in a new, independent business venture, then franchising may be the best business option for you. Remember, however, that hard work, dedication and sacrifice are key elements in the success of any business venture, including franchising.

Starting a franchise has two main advantages. It could span over 75 different product lines and services. The business model is already created and set in place for an upcoming entrepreneur like you and it establishes a specific niche for you.

The first step is to decide what type of service or product that you would really enjoy. Be sure that you would like to spend your days involved in this type of business since it requires a substantial investment. For example, according to entrepreneur.com McDonald’s total investment is $506K-1.6M

Franchise fee: $45K

Ongoing royalty fee: 12.5%+

Renewal fee: $45K

Your next step is to do some research on your own to see the demand for the product or service. Take a close look at your competition and see how they are doing. Competition is good because it helps you to learn more about the market or industry.

Look into how recognized this franchise is in the marketplace because name recognition plays a significant role in a franchise business. Does the franchise have a potential for growth? What is the latest trend in the products or services offered by the franchise? This will make or break your franchise business.

Make sure you will be receiving adequate support from the franchiser including training and staff support. Talk to other franchisees that have similar franchise product or service to get a feel for how they are doing and how helpful the franchisor has been to them. Get the negative and positive feedback since you want to make an informed decision. This is a serious business and you don’t want too many surprises.

Utilize your work experience since this will help you in choosing the right franchise business. For example a retail franchise might be better for you than a food franchise, if you were a retail manager.

Find a franchise partner if that is possible. Maybe you can ask a family member or a previous coworker to join you. If you use your past skills, then there is a good chance that you will succeed.

Before you go to the franchise interview, be sure to find out about the start-up capital and if you don’t have all the money then you can probably seek a partnership for a 50/50 or any amount that you see fit.

Purchase a franchise magazine and scout out the competition or find a franchise that you can read about and get tons of information including contact number or website to do further investigation. Research is very important before you start a franchise. Choosing the right franchise is so vitally important to your success.

Remember, starting a small business is always risky, and the chance of success is slim. According to the U.S. Small Business Administration, roughly 50% of small businesses fail within the first five years.

It is time to stop worrying about how you are going to afford to live the rest of your life, and instead, take the first step towards securing your financial future.