The think tank for global entrepreneurs
Archive for the ‘All Questions’ Category.
Famous Quotes About Entrepreneurship
Creating Your Start-Up Strategy
The beginning is the most important part of the work.
—Plato
The time to prepare isn’t after you have been given the opportunity. It’s long before that opportunity arises. Once the opportunity arrives, it’s too late to prepare.
—John Wooden, basketball coach of ten championships teams at UCLA
Continue reading ‘What are some famous quotes about entrepreneurship?’ »
Discussions About Blueprinting Your Strategic Architecture
Research has shown that successful entrepreneurs create visions of the future, which inspires others to get involved in the venture. Howard Schultz, founder and CEO of Starbucks Coffee, says, “Vision is what they call it when others can’t see what you see.” Continue reading ‘What’s your strategic vision?’ »
Discussions About Entrepreneurial Capitalism
Entrepreneurial capitalism is key to the success for entrepreneurship. But few words are as abused in the lexicon of the business world, as ill defined in the management literature, and as open to multiple meanings as entrepreneurship. The concept of entrepreneurship has been in our modern society for thousands of years and in the history of economic study the word has been overused, and in some cases underused.
entrepreneurial capitalism: private capital, investing in private start-ups, with potential for a viable harvest
Continue reading ‘What are the origins of entrepreneurial capitalism?’ »
Discussions About Establishing Your Barriers to Entry
As you prepare your value map, consider how you can create an antibiotic against harmful organisms. Antibiotics have long existed in the biological world before Alexander Fleming’s work on penicillin in 1928. They are chemicals produced by one microorganism in order to prevent another organism from competing against it.
Posted by: Robert W. Price
Discussion about Creative Disrupters: Entrepreneurs Converting Ideas into Dollars
Creative disrupters are a rare type of entrepreneurs, living on the creative edge. They are visitors from the future, living among us here and now. They have an optimistic passion for an idea that borders on the embarrassing and a restless urge to make a difference in the world. They bring us innovations that will have a deep impact on how we live, work, and think in the decades ahead.
Discussions About the Different Types Of Entrepreneurs
Entrepreneur is a word borrowed from the French words entreprendre, “one who undertakes”—that is, a “manager.” In fact, the word entrepreneur was shaped probably from celui qui entreprend, which is loosely translated as “those who get things done.” In the early eighteenth century, a group of thinkers called the Physiocrats surfaced in France around a school of new economic theory. They were the first proponents of laissez-faire and opposed all government intervention in industry, especially taxation. Their doctrine was that the economic affairs of society are best guided by the decisions of individuals.
One of the most famous among them was Richard Cantillon. In a paper he worked on between 1730 and 1734 and that was later published in 1775 as Essai sur la Nature du Commerce en General, he introduced the concept of entrepreneur. He developed these early theories of the entrepreneur after observing the merchants, farmers, and craftsmen of his time. Jean-Baptiste Say, a French businessman turned economist, followed Cantillon with his Trait d’economie politique in 1803. His work commented on the theory of markets and how the entrepreneur is involved in this transaction of goods for money.
Discussions About Entrepreneurial Management
The adjective “entrepreneurial” is used in a host of varying contexts and embodies a wide variety of meanings and implications. For instance, “entrepreneurial knowledge,” as J.J. Kao points out in The Entrepreneurial Organization, can be referred to the concepts, skills, and mindset associated with operating large corporations with greater flexibility, innovation, and responsiveness.
Discussions About Leading An Entrepreneurial Business Venture
It is not easy to be the boss if you have never been one, and the mistakes you make early on can come back to haunt you. In fact, the first-time entrepreneur faces perhaps no challenge greater than learning how to be the boss. But there is more.
Continue reading ‘Are you ready to be the lead entrepreneur?’ »
Managing During Tough Times
During the easy times, everybody can make things happen. But tough times, especially economic downturns, require a different approach to managing. In fact, the ability to re-assemble the team and manage the interpersonal conflicts that arise during tough times is seen as very key to potential investors. But what can you do to maintain morale when tough times strike? Continue reading ‘How do we manage during the tough times?’ »
What Makes a Great Venture Capitalist?
Now that you know and understand the specifics of your business—you know your numbers cold, you have the financials prepared, you understand how much you need, and grasp the fundamentals of valuation—it is about finding and evaluating the right investors for your specific deal. But navigating through the universe of investors can be confusing, even for the most experienced entrepreneurs.
Continue reading ‘How do you know you have the right investor?’ »
Discussions About Investing To Go Global
By: Robert W. Price
Before making the decision to commit critical capital resources overseas, the venture needs to have a clear understanding of why it is doing so. Before discussing the reasons for investing overseas, we first want to discuss Foreign Direct Investment (FDI). For statistical purposes FDI is usually defined as ownership of at least 10 to 25 percent of the equity of one venture in one country, by another venture based in another country.
Continue reading ‘What are the capital investment decisions for going global?’ »
Your Business Plan: The Roadmap That Guides You to Success
By: Robert W. Price
Your business plan acts as a reflection of you, showing that you have really thought things through. It requires advance preparation, delegation, refinement, and, most importantly, a disciplined approach. Writing a business plan forces you into disciplined thinking if you do an intellectually honest job. An idea may sound great in your mind, but when you put down the details and numbers, it may fall apart.
Transitioning: Entrepreneurial Management to Professional Management
By: Robert W. Price
When an organization is born, the emphasis is on creating a product and surviving in the ecosystem. Certain features characterize an entrepreneurial management style and structure.
Continue reading ‘How will you manage the growth of your company?’ »
Lesson Plans To Entrepreneurship
Our Lesson Plans To Entrepreneurship are practical, and the information comes directly from the “front-lines” of business battles. Our approach is aimed at creating knowledge, skills, and awareness in the critical aspects of funding, launching, and growing a new business venture and then leading it to a successful harvest. Continue reading ‘What are the key lessons to entrepreneurship?’ »
Are you ready to “go global?”
Strategic motives must drive the decisions to conduct business globally.
- Are you a global entrepreneur?
- Are you ready to go global?
- But what is your action plan?
- Where do you begin?
- How do you begin?
- Which markets should be entered first?
- What would be the optimal mode of entry?
- How rapidly should you expand globally?
We are living in a world where all the major business functions in the value chain are highly globalized and deeply integrated. According to McKinsey and Company, 80 percent of the world’s GDP will be sold across international borders by 2027, compared to about 20 percent in 2001. Multinational business activity will grow from approximately $5 trillion to $70 trillion by 2027.