Starting a franchise
A business idea for a start-up doesn't have to be original. Many new businesses are formed with
the intention of offering an existing business idea. The use of franchises is a great example
The basic idea for a franchise is t
Adding value sounds like a bit of business jargon and it is! However, it also has quite a
precise meaning which is important. So it is worth learning this:
Adding value = the difference between the price of the finished product/service and th
An invention is something genuinely new something that has not been done before. It
could be a substance, a product, a process etc.
Many of the entrepreneurs who climb the steps leading up to the Dragons Den believe that not
only is their invent
Planning a new business
What is a business plan?
A business plan is a written document that describes a business, its objectives, its strategies,
the market it is in and its financial forecasts.
The business plan has many functions, from securing external
Risks and Rewards
Taking a calculated risk
An entrepreneur cannot avoid risk in a start-up and everyone knows that a large proportion of
new businesses eventually fail. The trick is to assess:
What the main risks are in a new business (e.g. unexpected cos
Creative thinking to create business ideas
An entrepreneur is always on the lookout for a business opportunity the thinking process takes
However, it can also be argued that a formal process of creative thinking can also help someone
Sources of business ideas
Where does an entrepreneur come up with the idea for his/her business? In practice there are
many ways in which the business opportunity and idea is first spotted. As we shall see,
sometimes luck plays a big part; at other times
Starting a Business - What is enterprise?
The term enterprise has two common meanings.
Firstly, an enterprise is simply another name for a business. You will often come across the use
of the word when reading about start-ups and other businessesSimon Cowe
What is an entrepreneur?
There are many definitions of what is meant by an entrepreneur, but they tend to say the same
thing, which is that an entrepreneur is
Someone who takes a risk by starting a business
An entrepreneur is someone who is enterprising.
What goes into a startup business plan?
For a start-up there are usually two kinds of business plan - a simple one and a detailed one.
Some businesses need to produce both.
The simple business plan is rarely shown to outsiders of the business. It is writt
Dr. Tyler Shipley
Business and Government (BADM3200)
March 22, 2015
The flow of financial resources has a structure in todays modern economy. In the
beginning it was the king