{"id":4655,"date":"2013-09-10T13:01:04","date_gmt":"2013-09-10T17:01:04","guid":{"rendered":"https:\/\/futurpreneur.ca\/?p=4655"},"modified":"2024-02-14T10:38:46","modified_gmt":"2024-02-14T15:38:46","slug":"start-up-fundamentals-for-a-business","status":"publish","type":"post","link":"https:\/\/futurpreneur.ca\/en\/blog\/start-up-fundamentals-for-a-business\/","title":{"rendered":"Start-up fundamentals for a business"},"content":{"rendered":"

Here are my top tips for anyone interested in starting a business.<\/p>\n

Characteristics of a successful entrepreneur:<\/strong><\/p>\n

    \n
  1. Has a vision about how to meet a market or community need and that vision is based on solid research and experience;<\/li>\n
  2. Is goal-orientated and able to define success;<\/li>\n
  3. Has the experience, ability and skills to develop an actionable business plan based on research and facts. The plan requires a good governance model to monitor the results and the ability to be flexible in altering the course as needed;<\/li>\n
  4. Seeks and heeds advice from experienced entrepreneurs. Most failures occur when an entrepreneur allows his ego to override best business practices;<\/li>\n
  5. Has years of experience in the field s\/he is entering or seeks partners to provide needed expertise;<\/li>\n
  6. Focuses on marketing and administrative needs as his\/her prime needs;<\/li>\n
  7. Is focused, persistent, risk orientated and has the ability to manage an organization, and primarily people.<\/li>\n<\/ol>\n

    Reasons why people should launch a start-up:<\/strong><\/p>\n

      \n
    1. The prime reason to launch a start-up is if there is a market need that no one is fulfilling;<\/li>\n
    2. The secondary reason is if you are unable to attain your full potential for success in an existing business or environment, and cannot fulfill your personal goals of self-satisfaction and achievement;<\/li>\n
    3. The right time to launch a start-up is today if you have fulfilled the requirements of experience, intense research and consultation with experienced business people and others such as bankers, government etc.<\/li>\n<\/ol>\n

      Important trends in business:<\/strong><\/p>\n

        \n
      1. The most important current business trend is rapid change and therefore a plan must be firstly diversified to avoid reliance on a\u00a0 single strategy or product, and must include information systems that rapidly report arising issues, and management that recognizes these changes and are quick to react;<\/li>\n
      2. Current business relies much more heavily on the internet for marketing and for sourcing. A business is now becoming a worldwide entity not relying on its geographical location for resources to buy, sell, finance and employ people.<\/li>\n<\/ol>\n

        By Sidney Halpern, FCA, Chartered Accountant, Winnipeg, MB, CYBF mentor, shalpern@shaw.ca<\/a> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

        Here are my top tips for anyone interested in starting a business. Characteristics of a successful entrepreneur: Has a vision about how to meet a market or community need and that vision is based on solid research and experience; Is goal-orientated and able to define success; Has the experience, ability and skills to develop an […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-4655","post","type-post","status-publish","format-standard","hentry","category-entrepreneurship"],"acf":[],"_links":{"self":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/4655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/comments?post=4655"}],"version-history":[{"count":0,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/4655\/revisions"}],"wp:attachment":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/media?parent=4655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/categories?post=4655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/tags?post=4655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}