Some things to consider before starting a business

[Vinz1978]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

For me, if  you are planning to build up a business even if its big or small be sure that you have a capital that support your to your business. secondly you have a knowledge on how to manage an effective business, therefore you are hard working not during there is costumer but also when there is no.Thirdly you are willing to accept all attitude of your costumer probably there are some costumer that boastful sometimes in that point you are also open-minded for that particular case. thanks.

Before starting a business you should consider these things: what business to put up,  what business are you interested in. Next is the location. Is the location accessible or within the foot of traffic? Next is the budget. You need to have enough budget to sustain your business.  You should also ask yourself if  you can handle your business and if you are ready to face and accept every outcome and struggles your business may face.

[betchay22]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

Starting your business is very risky. Anyone who plans to put up a business should be ready to face any problems that will arise in his business. Do you have enough capital that will cover up even the losses in your business. Know your passion and choose the business thay is in demand nowadays. Choose the right place or location,  right timing and people who will be your partner and trusted person. It would be better if you are hands on and you manage your business personally so that whatever happen to your business,  you wont blame anyone.

[Jedzkie050617]

The things you have to consider to start a business are,  find  the best location,have big capital,produce good quality of product and many more.

Yeah, the first  thing to consider  if you  want to start  a business is know your prospect customers, second ask yourself if that  business is suitable to you,third look for  a good location, fourth capital or funds  that  can be funded  the business  until it can collect  the profit.Fifth  ask your self if you are ready to risk  your funds ,starting  a bussiness  is not easy  you must be ready in all the  possible circumstances that  may occur.If you already know all this you can start  the business that you want to have.

[evader11]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

I agree for your information against the needs to be consider before starting a business, these procedure will help to the poeple who plan to do it. Through these tips and step many poeple will be aware and ready what they need to do and follow to success their plan. Thanks a lot of people will appreciate you do.

[a2offrb]

You have submitted a very informative Article as regards this which is quite appreciative. But I can equally submit briefly that 4Ps must adequately be given consideration before embarking on any kind of business after the issue of Funding[Capital] and its source had been ironed, which I enumerated thus;
1. PRODUCT,
2. PEOPLE,
3. PLACE,
4. PROMOTION.

1. PRODUCT; You must have adequate knowledge and passion for the kind of product you want to deal in. All production processes must be known.
2. PEOPLE; Who are the kind of people you want to offer your product? Young, old, males, females and their age bracket.
3. PLACE; Where are you distributing your finished product? Nationally or internationally or in a particular society where the product is needed.
4. PROMOTION; The upper 3Ps shall give you an insight to what type of advertisement and mobilization means that shall fascinate patronage.

[3la9l_kolbaCa]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

That would be a good idea if you really think for a business even you have a stable job. But their are a lot of things to be considered in having a business, I will just give you a little idea.

What kind of business?
Capital
Location
Who will be the one to manage?
Who are the people involved in your business?
Retail or Wholesale?
SWOT analysis
Strength
Weaknesses
Opportunity
Threats
Mission of your business.
Vision of your business.
Goals of your business.

That would be a small things to be considered before to start up a business. But at the end it is up to you how are you going to deal with it.

[neliawesome]

Before starting a business there should be planning first.Plan what kind of business you wanted and make sure if it fits to the environment you wanted to build.Then if you already had an idea what type of business you wanted to build make sure you had the money/capital to build your own business.Think a lot of times if the business you wanted to run is compatible to the needs of the people.Lastly day by day you should have an idea on how to improve your business to grow more.

[Sirait]

seeing from your writing on the first page I strongly agree, but from my experience money management is the most important thing of all,
I have some failed in business because when I get a profit I can not set it anywhere, until now only money management that I can not understand.

[Allura74]

As an entrepreneur Your should have capital first, and you must familiar with the business which you are going to establish and it has to be a volume market. You are ready for the possibility that you may face when your operate, then had knowledge about how manage your own business.

Yes, before starting a business it is important that we know its nature and the best place to start on it and should have an advance vision for its market or who is the main customer for your business so that we can have an estimate for the return of investment or the ROI since it is not profitable if it takes long time for the return with reference to our effort which have been exerting on it.

[ejandjm18]

There are so many things before we start a business, we should plan what kind of business are in demand in our location, is it safe place for our business to build, do we have enough capital for said business, it is better to start a business with our expertise.

[Jimbo Abu]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

It is better if you have your own business, even if you have a stable job. You'll earn more in business, and save for the future. You also need to look around as to what business thing you know you earn. And study carefully so you do not lose.

[njneer]

The factor that's going to completely change the way we operate a business will be adoption of blockchain. Free transactions, which are becoming real right now through proof of work and proof of stake, allow any business to share revenues. This means that in the near future (hopefully) people will be able to earn money via cryptocurrencies for doing all of the things that they already enjoy doing like browsing the internet, watching TV, and ordering food. I'm glad that this discussion is being had and I'm glad that things are changing.

[Xising]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

Good read mate, I think some of it are applicable in this market, while some, needs to be first considered or qualified depending on the prevailing trend or happening in the market. I say that because this market offers and gives you a lot of really volatile, unprecedented and unpredictable happenings that you should really look at the market and its assets on a different light compared to other similar business ventures. The more calculated and prepared you would be, the better you can deal with the risk of losing, and hopefully, avoid or mitigate it.

[genocide]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

What a good article and a very informative guide to use for those who are starting a business. Starting a business needs further analysis, study and plan before entering in a desired business because it involves money, time and effort.

[Finestream]

The factor that's going to completely change the way we operate a business will be adoption of blockchain. Free transactions, which are becoming real right now through proof of work and proof of stake, allow any business to share revenues. This means that in the near future (hopefully) people will be able to earn money via cryptocurrencies for doing all of the things that they already enjoy doing like browsing the internet, watching TV, and ordering food. I'm glad that this discussion is being had and I'm glad that things are changing.

Right.Since we are in a digital world right now,blockchain technology has really its high chances to dominate in all aspects in business section.People will be more advanced too to cope up with the fast changing technology and blockchain would have its perfect time to boom in this time of millenials.

[theblack_cat]

Thank for your information.
I think if you want to start a business should be in thought also profit, loss, and capital in the can.
We can use blockhain technology to support our business.

[Pumapipa]

Thank you for that wonderful note. I have read it and have taken note of it. Very timely because, now that I have a capital (thanks bitcoin), I am thinking of putting up my very own business.
For me, I just want to start small. Starting with my expertise and that is cooking. Passion is a key to be a successful businessman. If a business lacks passion, then it is bound to sink.
I am thinking of starting my business around christmas time ( this is a time where people actually don't care about spending. A season of giving, a season of shopping ). Looking positive on this one. Thank you for your inputs sir.

[Financial Freedom 4U]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

Excellent pieces of advice.

[Ekim22]

The thing's you need to considers before you start business are, you need to look for comercial place,you have big capital and you now how to handle business .

[Chachacoin17]

The factor that's going to completely change the way we operate a business will be adoption of blockchain. Free transactions, which are becoming real right now through proof of work and proof of stake, allow any business to share revenues. This means that in the near future (hopefully) people will be able to earn money via cryptocurrencies for doing all of the things that they already enjoy doing like browsing the internet, watching TV, and ordering food. I'm glad that this discussion is being had and I'm glad that things are changing.

Right.Since we are in a digital world right now,blockchain technology has really its high chances to dominate in all aspects in business section.People will be more advanced too to cope up with the fast changing technology and blockchain would have its perfect time to boom in this time of millenials.

Starting a business is no easy and small decision. It's risky ,so it's always important to know about your customers, study and fully understand the market and on what's the best way to respond to them. Have a business plan, evaluate yourself about your strengths and skills, start small and grow, and above all have a passion on what you're doing. If you’re fueled by passion, your job becomes much fulfilling, brighter, and easier.