You may be asking yourself Why Internet Marketing? It is a questions asked by many people especially Entrepreneurs and business owners. The internet is the way of life in this generation. Just think about it, if you are wanting directions where do you go for […]
I wanted to get a feel for what it is like to study entrepreneurship as opposed to working at an entrepreneurial company, therefore I decided to interview one of our interns, Brandon Frazin from Syracuse University: Q: What is your educational background? (A): At Syracuse […]
I had the privilege of interviewing a young yet successful entrepreneur. He was gracious enough to tell me about his background and business and to share some insights into the ever-changing profession of being an entrepreneur.
He graduated from Brigham Young University with a degree in business management, having also studied entrepreneurship and communications. He said he has always loved entrepreneurship. Throughout his life, he has dabbled in a variety of small time ventures and some real estate on the side. But to date, his most successful business experience has been with his start-up of a specialized computer company–a restorer and retailer of laptops purchased directly from leasing companies.
He started the company a few months before he received his undergraduate degree. He actually crafted the business plan for a similar company in one of his entrepreneurship classes and decided to go ahead and give the business idea a try in the real world. The company was soon incorporated and kept under his management and ownership for a little over four years.
He was then approached by a business broker asking to list the company for sale. About eighth months after its listing, a good buyer was located and the deal was closed. He was ready for a change and happy to see the ownership trade hands. Since the sale, he has begun working on a variety of new ventures.
The Interview and Take-a-Ways
Getting to interact with this successful entrepreneur was an enjoyable experience and a great opportunity to learn from someone who sat in my chair at BYU not so long ago. He is a great example of what a management program can do to empower and enable individuals to go after their entrepreneurial dreams. He has a great future ahead of him and will be successful in whatever he puts his mind to.
I appreciated all of his responses, but I was intrigued by a few answers in particular. After asking him if he had any regrets about his computer company experience, he talked about how if he could do it all over, he probably would have tried to grow the company bigger faster. He sees the drawbacks of having to put in more hours and having less freedom but also sees the advantages of, in turn, being able to maybe have sold the company sooner. I found this perspective very fascinating.
I also asked him some general questions about entrepreneurship and what-in his opinion-it takes to be successful. He feels that entrepreneurship takes a lot of self-discipline and drive as well as a high tolerance for uncertainty. I think his boldness and make-it-work attitude have enabled him to experience entrepreneurial success first-hand.
He was very encouraging in his interview. His enthusiasm for business is completely contagious. We ended the interview by talking about what the best thing about entrepreneurship is. He summed it up in a sentence, “You can make or break your own destiny.” He explained that through the start-up of a small business, individuals are able to quickly learn all of their strengths and weaknesses and able to, consequently, improve on what’s lacking. He has definitely turned his weaknesses into strengths through his hard-work, motivation, and personal character. It was a pleasure to interview him, learn form him, and come to a better understanding of what real entrepreneurship truly is.
Small businesses range in size from one single entrepreneur to a company with 250 employees. Regardless of the size of a small company, most everyone relies on computers and software to help manage. Recently PCWorld magazine listed the 20 best business software and web tools […]
Pre-Paid Legal is a network marketing company that specializes in the sale of legal services, which its representatives sell as legal insurance as clients can have attorneys on call by paying monthly premiums at varying rates. There are two ways that people interested in this […]
Barack Obama will extol his economic policies to small business during the recession in the final week of the 2010 Mid Term Election campaign.
He plans to visit American Cord & Webbing Co, a manufacturer of cords and buckles, in Rhode Island according to Kevin Bogardus’ article “A week to go before election, Obama, Biden to campaign across country” in The Hill.
Obama is keen to win support from business, and will point to the Small Business Jobs Act that he signed in.
The manufacturing company was one of the beneficiaries of the act, and has saved more than $9000 in fee waivers for the Small Business Administration Loans that they received. They will also benefit from eight fresh tax cuts for small business that were also included in the legislation.
Obama hopes that his message to small business will remind them of his actions to prop them up during the recession, and confirm his future support for them providing a clear choice away from the GOP approach as the Republicans opposed the bill.
Former President Bill Clinton had voiced his concerns that the Democratic campaign has not communicated a clear and coherent message on the economy, and it now looks like Obama has heeded his advice.
Voters Think Media Has Become More Partisan says Opinion Poll
In a poll carried out by The Hill, 51% of respondents have said that the media since 2005 has become more biased towards both the Democrats and the Republicans.
Out of that statistic 30% thought that the media favoured the Democrats, 21% believed that the Republican’s received the most opinionated reporting, and 30% said that parochial reporting had remained the same.
Amongst men and women in all age groups, they opined that biased has increased towards the Democrats, but black and Hispanic voters did not agree and said that they thought the press has moved to the right.
On the contrary 46% of Republican voters said that the press has moved leftwards, compared to 32% of Democrats who ascertained that the media has shifted to the right.
The majority of independents thought that the press has moved left rather than to the right, with 31% of those surveyed saying that the Democrats receive more biased press compared to 22% for the Republicans.
Real Clear Politics Says Republicans to Win More Governor Races
The GOP are set to be celebrating the most Governor’s according to the latest polling from Real Clear Politics.
The Republicans are projected to have 27 Governor’s after the mid term elections, compared to 15 for the Democrats including the states where no election is taking place.
There are eight states where the race for the Governorships remain a toss up, but out of those eight five of them are currently held by Republicans in Florida, Hawaii, Minnesota, Rhode Island and Vermont, with three of them by Democrats in Illinois, Ohio and Oregon.
The results of the Governor elections are sure to bring an about turn from the current tally, where the Democrats have a slender 26-24 advantage.
In the Senate the Democrats are predicted to have 48 seats, compared with 44 seats for the Republicans with 8 toss ups after the 37 Senate 2010 elections are decided. Meanwhile in the House the Republicans are projected 222 seats, with the Democrats on 177 with 36 toss ups where the result is too close to call.
Many small business owners who manage to eke out just enough money to keep the business running are constantly stressed and worried. Sometimes, it wouldn’t take much for them to begin to do better financially, but they are so overwhelmed that they can’t see what […]
Good Staff Recruitment for Small Business Owners: Shortcuts in Recruitment and Selection Lead to Staff Problems Later.
Big business and government bodies have a personnel management section, middle-sized companies often rely on recruitment agencies, but small business owners, corner shopkeepers, sole operators and tradesmen usually go it alone when the time comes to find good staff. Small Business Owners’ Reluctance to Interview […]
Internet commerce needs infrastructure like an Internet backbone and Internet Service Providers (ISPS); applications like shopping cart software and payment gateways; online stores that sell over the Web; and intermediaries who facilitate Internet businesses.
Major Components of the Internet Economy
A University of Minnesota online course on Electronic Commerce lists the major components of an Internet economy as follows:
- Infrastructure: Internet backbone, ISPs, networking hardware and software, PC and server makers, security vendors
- Applications: Web development software, Web-enabled databases, e commerce software, search engines, multimedia applications, consultants, online training
- Intermediaries: Market makers, online brokerages, content aggregators, portals, ad brokers
- Commerce: E-tailers, manufacturers selling online, fee/subscription services, airlines selling tickets online, online entertainment and professional services
The Internet economy has also given rise to new skill requirements such as Web analytics skills to identify website visitor behavior patterns and search engine/social media marketing skills.
Electronic Commerce and Economic Globalization
Electronic commerce and other e-business applications such as CRM and SCM have helped economic globalization in a major way. In addition to making it possible to sell easily over the Web, it is now possible to offer greatly improved (and customized) customer services and integrate global vendor systems into a business’ own systems to improve productivity and reduce costs.
Economic globalization as we see it now would have been inconceivable without the Internet. Internet commerce has helped achieve huge increases in trade volumes, with resultant improvement in the living standards of people all over the world.
Opportunities for Internet Business
A clear idea about the Internet economy can help prospective businesspersons identify business opportunities. In fact, numerous small businesspersons are making good money with little investment by acting as intermediaries. For example, an online retailer can operate with absolutely no merchandise by passing on all orders received to manufacturers or wholesalers with whom the retailer has a working arrangement.
Offer comparison websites constitute another major business. Online travel agents, for example, can offer comparisons of the fares offered by different airlines and the features of each offer, allowing customers to choose the offer that meets their requirements best.
Pure content websites that do not sell any product are also able to make money by displaying relevant advertisements on their information pages. Web surfers who land on the pages in search of the specific information are likely to be interested in the products related to the topic. What this means is that web surfers get valuable information free and sellers of products are able to reach precisely targeted prospects.
Internet has created an entire economy with players engaged in providing different products and services that make Internet business and e commerce possible. The Internet has also facilitated global trading, leading to huge increase in trade volumes and improvement in the living standards of people. Finally, it has created business opportunities for persons who might otherwise have been unable to earn a meaningful income doing what they are competent to do.
Losing a computer either physically or virtually through data loss can be catastrophic to one’s business. Think about the business financial records, client data, and personal information stored on most worker’s computers. A business is severely handicapped if that data is irretrievably lost for whatever […]