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- https://biz.libretexts.org/Bookshelves/Constitutional_LawConstitutional law is a body of law which defines the role, powers, and structure of different entities within a state, namely, the executive, the parliament or legislature, and the judiciary; as well...Constitutional law is a body of law which defines the role, powers, and structure of different entities within a state, namely, the executive, the parliament or legislature, and the judiciary; as well as the basic rights of citizens and, in federal countries such as the United States and Canada, the relationship between the central government and state, provincial, or territorial governments.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/05%3A_Company/5.07%3A_Chemical_AttractionBut then the company was too “chemist-heavy,” and they still needed technical work done before they could have a sellable product. “We needed to get past the remaining technical hurdles,” said Patters...But then the company was too “chemist-heavy,” and they still needed technical work done before they could have a sellable product. “We needed to get past the remaining technical hurdles,” said Patterson, “so the next thing we decided to do was concentrate our efforts on the technology, and put together a product development team: electrical engineers, software developers, mechanical engineers, manufacturing specialists, etc.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/02%3A_Market/2.02%3A_Evaluating_the_MarketGood market research is not only accessible to you, but critical to your product’s success. So what is it? Market research takes on many different forms, but a standard, broad definition is the follow...Good market research is not only accessible to you, but critical to your product’s success. So what is it? Market research takes on many different forms, but a standard, broad definition is the following: market research is the systematic collection, analysis, and reporting of data about the market and its preferences, opinions, trends, and plans.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/06%3A_Money/6.01%3A_BootstrappingWhen discussing his philosophy on bootstrapping, Greg Gianforte (who retired at the age of 33 after he and his partners sold their software business, Brightwork Development Inc., to McAfee Associates ...When discussing his philosophy on bootstrapping, Greg Gianforte (who retired at the age of 33 after he and his partners sold their software business, Brightwork Development Inc., to McAfee Associates for more than $10 million) stated, "A lot of entrepreneurs think they need money...when actually they haven't figured out the business equation."
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/04%3A_Plan/4.03%3A_Measuring_Your_SuccessTo find the monetary benefit of your method, subtract your expenses to meet this need from the expenses that would be incurred if the alternative solution was used instead. The monetary return is calc...To find the monetary benefit of your method, subtract your expenses to meet this need from the expenses that would be incurred if the alternative solution was used instead. The monetary return is calculated by adding the savings to society (in governmental program costs that do not have to be spent) and the gains to society (in tax revenues) from your work, and subtracting your business expenses that are related to implementing the social purpose (and would not be otherwise incurred).
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/04%3A_Plan/4.04%3A_Presenting_Your_PlanOne of the most important skills you need is to be able to explain your plan, out loud or in writing, in 30 seconds or less (the amount of time you might have riding an elevator with a prospective fun...One of the most important skills you need is to be able to explain your plan, out loud or in writing, in 30 seconds or less (the amount of time you might have riding an elevator with a prospective funder). Include a description of your idea, a brief description of how you are going to implement this idea, your awareness of major competitors, how you will market this service or product and how you plan to profit from this venture.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/02%3A_Market/2.01%3A_Identifying_Your_CustomersEvery entrepreneur has, in the back of her mind, a mental picture of the prototypical customer. The question is whether this image is based in reality. Does this ideal customer exist? What if she does...Every entrepreneur has, in the back of her mind, a mental picture of the prototypical customer. The question is whether this image is based in reality. Does this ideal customer exist? What if she does, but it turns out that she doesn’t want to buy your product? As you learn more about your market,you may need to be flexible and willing to change your image of both the customer and the product itself.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/02%3A_Market/2.08%3A_Marketing_to_the_PoorWhen it comes to promotional techniques and advertising, IDE takes the only route available to them: they get out in the village streets and push the product. “Let’s say that we want to sell treadle p...When it comes to promotional techniques and advertising, IDE takes the only route available to them: they get out in the village streets and push the product. “Let’s say that we want to sell treadle pumps,” says Polak. “We’ll put on a demonstration in a village fair that draws a lot of people.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/05%3A_Company/5.03%3A_Nuts_and_Bolts_of_Company_FormationWhen hiring anyone who will hold a position of leadership in your company, analyze how well they know the culture of your business, their connections to funding, and whether they have the personal che...When hiring anyone who will hold a position of leadership in your company, analyze how well they know the culture of your business, their connections to funding, and whether they have the personal chemistry to attract other employees to work with them. Another thing to realize is that, as an entrepreneur, you are essentially a jack of all trades: you take part in every aspect of the business, but are the master of no single aspect of the business.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/04%3A_Plan/4.02%3A_Business_ModelsGreenberg writes, “Many of the young dot-commers rejected traditional business models in favor of rampant spending, over-extension of debt and high-risk ventures backed by adventurous investors.”1 Col...Greenberg writes, “Many of the young dot-commers rejected traditional business models in favor of rampant spending, over-extension of debt and high-risk ventures backed by adventurous investors.”1 Colin Duguid and Caroline Tresman add, “A solid business is not maintained just by its shop front or by its product, but by basic business skills through its management and staff.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Book%3A_Getting_Started_as_an_Entrepreneur_(Wikibook)/04%3A_Plan/4.01%3A_Business_PlansYour business plan describes the entirety of your venture: the problem you’re solving, your solution, the technology behind it, the size of your target market, the customers, the competition, your bus...Your business plan describes the entirety of your venture: the problem you’re solving, your solution, the technology behind it, the size of your target market, the customers, the competition, your business model, team, financial needs, and exit strategy. Financial needs including the amount of money the venture is seeking and over what time frame; how the money will be used; the major assumptions involved; and when you will achieve cash flow break-even and profitability.
