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Entrepreneurship - A Good Career Choice?

What is anEntrepreneur or who are Entrepreneur ?

Copyright © 2011 - 2013 SBS Consulting All Rights Reserved

A person who sees opportunity in what others deny

A person who takes financial risks, to set up a company and operate a business

Is a leader with strong management and team building skills

An innovator of new ideas and business processesHas a long-term vision and good understanding of

market and customer needs.Develop new services and productsThey are spontaneously creativeAre born smart workersAre ready to accept challengesCopyright © 2011 - 2013 SBS Consulting All Rights

Reserved

Copyright © 2011 - 2013 SBS Consulting All Rights Reserved

Entrepreneurship as a Career Choice

According to the Global Entrepreneurship Monitor Report• Different cultures have different views of being an

entrepreneur as a career choice.• Wealthier countries such as the UK, US or Japan do

not necessarily see more entrepreneurial opportunities.

• Entrepreneurial opportunities are perceived most in third world countries like Ghana and Uganda

• Necessity rules desire in less business inclined minds.

• A burning desire to excel as entrepreneur in those with business inclined minds

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Qualities of an Entrepreneur

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Self starter and open mindedHighly motivated and self confident Initiative taker and VisionaryDetermined LeaderOptimistic and Risk takerMoney wiseSelf promoterTeam player and independent worker at a same timeAccessible and communicativeGets involvedA master negotiatorOrganized and desciplinedTask masterHard worker and a smart workerCompetitive and CreativeStrong people skill and work ethicsPassionate

Copyright © 2011 - 2013 SBS Consulting All Rights Reserved

Copyright © 2011 - 2013 SBS Consulting All Rights Reserved

The reward and challenges of Entrepreneurship

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Rewards Challenges

Being your own boss Fear of failure

Being original Lack of entrepreneurial intentions

Hold on situations and Circumstances More opportunities in government sector in developed nations

Minimum rules and regulations to be followed

More opportunities in established organization in developed nations

Opportunities unlimited Lack of required skills and knowledge

Freedom of choice and time Higher risk involved

Independent working style Financial future unpredictable

Choice of management style Stress involved as compared to working for an organization

Responsible from scratch to end

Flexibility

The elements of business planning

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To own a successful business, the first step is to plan a road map

Executive Summary: Company profile and goalsDescription of the Company: Profile of services offered, how are

you different from otherAnalysis of Market: Researching on your business industry,

current trend in the market and competitors Management and Organization: Chalking out best management

and organization plansProducts or Services: how is it going to benefit the end-userSales and Marketing: Promoting and branding of your products

and servicesFunds: On board Investors or savingsMission and Vision: Where you want to see yourself 5 year down

the lineCopyright © 2011 - 2013 SBS Consulting All Rights Reserved

Importance of business planning

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Copyright © 2011 - 2013 SBS Consulting All Rights Reserved

Clarity of DirectionEstablishment of goalsVision of the FutureAttracts investors and financesAttract Team members and resourcesEfficient utilization of resourcesMore productive timeManagement becomes easierStreamlined OrganizationAbility of risk management

Congratulations

You have taken the first step towards accomplishing your dreams.

QUESTIONS?

Email Us: info@sbsgroup.com.sg Contact us: +65 6728 9142

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