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Computer Maintenance

Computer Maintenance. Entrepreneurship. What is Entrepreneurship?. Entrepreneurship is the organizing, managing, and operating of a small business. Entrepreneurship. Who should start a business? If you have a personality where you feel the following: A need for achievement

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Computer Maintenance

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  1. Computer Maintenance Entrepreneurship

  2. What is Entrepreneurship? • Entrepreneurship is the organizing, managing, and operating of a small business.

  3. Entrepreneurship Who should start a business? • If you have a personality where you feel the following: • A need for achievement • A need for independence • Self-confidence • A high level of activity • Courage, curiosity, and creativity • Or if you are someone who wants to control his or her own destiny, you qualify as someone who should start a business.

  4. Entrepreneurship Why should you start a company? • Starting a company might be a way to make more money than you could working for someone else. • It would be a chance to do something different. • You could use your own ideas. • You could be recognized in your profession. • It would allow you to help society by providing new services.

  5. Entrepreneurship Why should you start a company? • You might like being your own boss. • You would answer only to yourself. • You could set your own hours. • It would give you the chance to discover if you have the ability to do something on your own.

  6. Entrepreneurship Why should you start a company? • Recently, a Gallup Poll found that 7 out of 10 high school students are strongly interested in owning and operating a business someday.

  7. Entrepreneurship What should you know about starting your own business? • You should thoroughly research the business. • You need to know the amount of money it will take to start your business. • You should be aware of the importance of a good business location. • You will need to have a way to manage your inventory. • You should not invest too much of your money in a way that it cannot be quickly changed to cash.

  8. Entrepreneurship What should you know about starting your own business? • You will need to have good credit policies. • You will need to limit the amount of money you take out of the business. • You must carefully make plans for expanding your business.

  9. Entrepreneurship 11 steps for starting a new business • Write a business plan including every aspect of your new business. • Establish a checking account with a commercial bank. • Decide if you need a business partner. • Draw up a partnership agreement if you have a partner. • Obtain a business loan if needed.

  10. Entrepreneurship 11 steps for starting a new business (cont.) • Study the regulations that apply to the type of business you wish to start: • Federal regulations • Wages • Health laws • Fair trade • State regulations • Licenses • Permits

  11. Entrepreneurship 11 steps for starting a new business (cont.) • County or City Regulations • Zoning • Inspection requirements • Permits • Licenses • Obtain insurance to cover your business. • Obtain information about taxes. • Set up a record-keeping system.

  12. Entrepreneurship 11 steps for starting a new business (cont.) • Decide if you will need to hire employees. • Set up employee policies. • Decide on skills required. • Inform the public about your business by advertising.

  13. Entrepreneurship What risks are involved? • Financial risk • You will probably have to invest all of your personal savings. • Over 70% of all bankruptcies in business involve businesses with less than $100,000 in liabilities. • Failure risk • 50% of all new businesses fail within the first two years of operation. • 70% of all new businesses fail within five years.

  14. Entrepreneurship What risks are involved? • Risk to your career • If you are currently employed in one occupation, you will, at some point, quit your job to start a business. • If your business does not succeed, it may be difficult to return to your old job. • Personal Risk • You must spend time away from your family. • You will have less time for social activities.

  15. Entrepreneurship What kind of rewards can you expect? • If your business is a success, you may be able to make more money than you could have working for someone else. • It is a way to feel good about yourself from having used your own talents and having been a success doing it.

  16. Entrepreneurship What kind of business should you start? You may want a business that provides a service such as • Automobile repair • Dry cleaning • Grocery • Cleaning • Computer service

  17. Entrepreneurship What kind of business should you start? You may want a business that produces a product such as • Clothing • Custom jewelry • Home Furnishings • Bakery

  18. Entrepreneurship Resources to help you start a business • Professionals are ready to help you in areas you may not know enough about. • The US has many ways to distribute products. • Many companies are willing to design packaging and market your product the way you want.

  19. Entrepreneurship Conditions that are good for starting a new business: • People with skills are available to help you. • Many people are not satisfied with big business. • People change jobs often. • People are willing to move in order to find work. • Many people will work for a share of your business instead of being paid wages.

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