Saturday 17 October 2015

ABOUT ME




NAME                      : SEGAR A/L GANASAN
MATRIC NO            : 220966    
E-MEL                     : segarganasan@gmail.com
DATE OF BIRTH     : 9th November 1992 (23 years old)     
NATIONALITY         : MALAYSIAN                                  
RACE                       : INDIAN                                           
RELIGION                : HINDU
MARITAL STATUS  : SINGLE


HANDPHONE NO    : 010-8825650

Myths about Entrepreneurship

Some Myths about Entrepreneurship:

Over the years, a few myths about entrepreneurship have developed. These are as under:

(i) Entrepreneurs, like leaders, are born, not made:

The fact does not hold true for the simple reason that entrepreneurship is a discipline comprising of models, processes and case studies.
One can learn about entrepreneurship by studying the discipline.

(ii) Entrepreneurs are academic and socially misfits:

Dhirubai Ambani had no formal education. Bill Gates has been a School drop-out. Therefore, this description does not apply to everyone. Education makes an entrepreneur a true entrepreneur. Mr Anand Mahindra, Mr Kumar Mangalam Birla, for example, is educated entrepreneurs and that is why they are heroes.

(iii) To be an entrepreneur, one needs money only:

Finance is the life-blood of an enterprise to survive and grow. But for a good idea whose time has come, money is not a problem.

(iv) To be an entrepreneur, a great idea is the only ingredient:

A good or great idea shall remain an idea unless there is proper combination of all the resources including management.

(v) One wants to be an entrepreneur as having no boss is great fun:

It is not only the boss who is demanding; even an entrepreneur faces demanding vendors, investors, bankers and above all customers.
An entrepreneur’s life will be much simpler, since he works for himself. The truth is working for others are simpler than working for oneself. One thinks 24 hours a day to make his venture successful and thus, there would be a punishing schedule.

Types of Entrepreneurs

Types of Entrepreneurs:

Depending upon the level of willingness to create innovative ideas, there can be the following types of entrepreneurs:

1. Innovative entrepreneurs:

These entrepreneurs have the ability to think newer, better and more economical ideas of business organisation and management. They are the business leaders and contributors to the economic development of a country.
Inventions like the introduction of a small car ‘Nano’ by Ratan Tata, organised retailing by Kishore Biyani, making mobile phones available to the common may by Anil Ambani are the works of innovative entrepreneurs.

2. Imitating entrepreneurs:

These entrepreneurs are people who follow the path shown by innovative entrepreneurs. They imitate innovative entrepreneurs because the environment in which they operate is such that it does not permit them to have creative and innovative ideas on their own.
Such entrepreneurs are found in countries and situations marked with weak industrial and institutional base which creates difficulties in initiating innovative ideas.
In our country also, a large number of such entrepreneurs are found in every field of business activity and they fulfill their need for achievement by imitating the ideas introduced by innovative entrepreneurs.
Development of small shopping complexes is the work of imitating entrepreneurs. All the small car manufacturers now are the imitating entrepreneurs.

3. Fabian entrepreneurs:

The dictionary meaning of the term ‘fabian’ is ‘a person seeking victory by delay rather than by a decisive battle’. Fabian entrepreneurs are those individuals who do not show initiative in visualising and implementing new ideas and innovations wait for some development which would motivate them to initiate unless there is an imminent threat to their very existence.

4. Drone entrepreneurs:

The dictionary meaning of the term ‘drone’ is ‘a person who lives on the labor of others’. Drone entrepreneurs are those individuals who are satisfied with the existing mode and speed of business activity and show no inclination in gaining market leadership. In other words, drone entrepreneurs are die-hard conservatives and even ready to suffer the loss of business.

5. Social Entrepreneur:

Social entrepreneurs drive social innovation and transformation in various fields including education, health, human rights, workers’ rights, environment and enterprise development.
They undertake poverty alleviation objectives with the zeal of an entrepreneur, business practices and dare to overcome traditional practices and to innovate. Dr Mohammed Yunus of Bangladesh who started Gramin Bank is a case of social entrepreneur.

Factors affecting Entrepreneurship

Factors affecting Entrepreneurship:

Entrepreneurship is a complex phenomenon influenced by the interplay of a wide variety of factors.
Some of the important factors are listed below:

1. Personality Factors:

Personal factors, becoming core competencies of entrepreneurs, include:
(a) Initiative (does things before being asked for)
(b) Proactive (identification and utilisation of opportunities)
(c) Perseverance (working against all odds to overcome obstacles and never complacent with success)
(d) Problem-solver (conceives new ideas and achieves innovative solutions)
(e) Persuasion (to customers and financiers for patronisation of his business and develops & maintains relationships)
(f) Self-confidence (takes and sticks to his decisions)
(g) Self-critical (learning from his mistakes and experiences of others)
(h) A Planner (collects information, prepares a plan, and monitors performance)
(i) Risk-taker (the basic quality).

2. Environmental factors:

These factors relate to the conditions in which an entrepreneur has to work. Environmental factors such as political climate, legal system, economic and social conditions, market situations, etc. contribute significantly towards the growth of entrepreneurship. For example, political stability in a country is absolutely essential for smooth economic activity.
Frequent political protests, bandhs, strikes, etc. hinder economic activity and entrepreneurship. Unfair trade practices, irrational monetary and fiscal policies, etc. are a roadblock to the growth of entrepreneurship. Higher income levels of people, desire for new products and sophisticated technology, need for faster means of transport and communication, etc. are the factors that stimulate entrepreneurship.
Thus, it is a combination of both personal and environmental factors that influence entrepreneurship and brings in desired results for the individual, the organisation and the society.

Importance of Entrepreneurship

Importance of Entrepreneurship:

1. Development of managerial capabilities:

The biggest significance of entrepreneurship lies in the fact that it helps in identifying and developing managerial capabilities of entrepreneurs. An entrepreneur studies a problem, identifies its alternatives, compares the alternatives in terms of cost and benefits implications, and finally chooses the best alternative.
This exercise helps in sharpening the decision making skills of an entrepreneur. Besides, these managerial capabilities are used by entrepreneurs in creating new technologies and products in place of older technologies and products resulting in higher performance.

2. Creation of organisations:

Entrepreneurship results into creation of organisations when entrepreneurs assemble and coordinate physical, human and financial resources and direct them towards achievement of objectives through managerial skills.

3. Improving standards of living:

By creating productive organisations, entrepreneurship helps in making a wide variety of goods and services available to the society which results into higher standards of living for the people.
Possession of luxury cars, computers, mobile phones, rapid growth of shopping malls, etc. are pointers to the rising living standards of people, and all this is due to the efforts of entrepreneurs.

4. Means of economic development:

Entrepreneurship involves creation and use of innovative ideas, maximisation of output from given resources, development of managerial skills, etc., and all these factors are so essential for the economic development of a country

50 Best Websites For Entreprenuers

There are many websites out there that can help entrepreneurs grow a bigger, better business--but there are many more time-suck websites. How can you tell the difference? By depending on a cheat sheet for the best websites for entrepreneurs.
Here, a cheat sheet of 50 to get you started:
The name says it all: This website is the result of David Skok's years of experience at Matrix Partners. With an MBA to complement his background, Skok's approach to startup techniques and financial modeling is user friendly, though strongly technical, rich in charts and equations.
One of the most reputable of crowdfunding sites, this is where you can raise a maximum of $5 million from investors with a proven background. If crowdfunding is part of your startup strategy, head to the site with a reputation in the field for making it easy.
You're an entrepreneur, not an SEO guru, so leave the technical aspects of your online presence to the pros. Plus, check out the blog to get the latest updates in laymen's terms on internet marketing, SEO, mobile readiness, and the like.
The go-to site for social entrepreneurs, you can glean information on how to succeed as a nonprofit and ways to incorporate social into any type of business. There's an emphasis on ethically made goods, too.
This one's a no-brainer for many. Some of the most reputable entrepreneurs and leaders in the tech industry come here to dole out information, making it among the best websites to get your questions answered.
Do you dream of finding an angel investor? A product of Venture Hacks, this is the platform for new companies to get equity from reliable investors; it also features templates to minimize attorney fees.
Even though this site is aimed at younger entrepreneurs, it's brimming with resources no matter what your age. It's a great tool for anyone new to the world of startups and has proved itself as a catalyst for building strong foundations.
This simple guide is straightforward with no fluff. There's zero risk of wasting time here, and it reveres versatility, so it appeals to all kinds of entrepreneurs. If you want to get straight ito the heart of things, this is where you start.
Designed for female entrepreneurs, you'll find plenty of downloadable resources here from a plethora of contracts to business plans. Even though it's meant for women, there are plenty of resources for both genders.
This site is rich with advice and tips for just about everything an entrepreneur may need to know. From office etiquette to internet marketing, it's a favorite daily stop for many small business owners-to-be.
The product of premier business schools and mega corporations, this site is meant toencourage women to pursue business leadership roles. It combines the best advice from the best resources around the country.
Ev Williams, co-founder of Twitter, created Medium as a chic platform for blogging. However, there are also fitting reads focused on careers from successful entrepreneurs providing first-person perspectives.
Join an online community of female entrepreneurs who encourage and support each other virtually. There's zero tolerance for flaming and trolling here, so you get just full support from peers and mentors.
This is the platform for Jason Cohen, who doles out marketing and entrepreneurial advice. More than 40,000 people subscribe and depend on Cohen's lessons learned to help them shape their business.
Don't have the budget to hire a full-time attorney? This is where you can get the requisite legal advice necessary via posts that tackle the most asked questions.
Read the inspiring blog of someone who ditched the office life to become an entrepreneur. It's easy to relate and always a better option to learn from the mistakes of others than to make them all yourself.
The startup site for younger professionals, it's worth taking a look at the entrepreneurial section. The advice is straightforward, easy to digest, and designed for those ready to branch out on their own.
Technically, this is a news site for technical professionals but it's a must for anyone who needs to keep up with the industry. Especially fruitful for coders, this is where you stay up to date on tech news that impacts entrepreneurs.
Find out what Dave Hornik or August Capital has to say about venture capital. Whether you're looking for investors or want to become one, this is where the inside scoop is found.
You might go to Reddit to distract yourself, but it's actually an incredibly useful website if you can avoid the time-suck spots. Head over to the startup section to find truly helpful advice from those who have been there.
You don't need to be a marketer to benefit from one of the best marketing blogs around. Get tidbits of advice that apply to entrepreneurs and startups (and not just in the marketing realm).
Everything you need to know about funding your startup can be found here. Plus, learn about the early days of startups, get notified of changes to your industry, and find out how cataloging rounds work.
Another obvious one, right? However, signing up for Entrepreneur's notifications orgetting the app can help you stay up to date on the latest strategies and news affecting entrepreneurs. It's a must for founders.
Dave McClure started this blog to share his pearls of wisdom on being an entrepreneur. It's enjoyable to read, and learning from the founder of 500 Startups is a great way to get wisdom.
25. FTC.gov
The Federal Trade Commission has a section on the Franchise Rule that you need to get comfortable with. Find out all of the legal issues involved with franchise purchasing before you get in too deep.
26. HBR.org
The Harvard Business Review blogs are a fantastic place to learn from the best. It's the hub of MBAs from the Ivy League and features regular updates focused on entrepreneurs.
Dubbed the techie Reddit site, Hacker News is where you'll find all things entrepreneurial with a coding edge. It's the product of Incubator Y Combinator and provides and insider's view on the industry.
More and more entrepreneurs are managing their own websites, which means they need to stay on top of metrics. This site helps you go above and beyond Google Analytics, complete with a two-week free trial.
Head on over to the Small Business Hub at Microsoft.com and find phenomenal videos, newsletters, and other resources for small business owners. The information is useful, relevant, and designed to be easy to digest.
Don't let the kitschy name veer you away from this reputable source for small business tips and tricks. It takes a user-friendly approach to dishing out advice, and it's easy to soak up the truly good information.
The site that was built by entrepreneurs just for entrepreneurs showcases a series of interviews from startup founders who were once in your shoes. Learn from the best, and know you're in great company.
Forleo is an entrepreneur who's enjoyed immense success, but it's her personality and character that make this blog a must-see. She's optimistic, light, and bubbly, and she knows what she's talking about. Many readers consider her a huge inspiration.
33. SBA.gov
The Small Business Administration has been an invaluable resource for small business owners for years. There's a chapter in every major city, but the site itself is chock full of the latest news and information for entrepreneurs, too.
Need to learn the basics of search engine optimization (SEO) in a jiffy? The leader in entrepreneurial traffic, Neil Patel, is at your service. Whether you're an SEO newbie or a pro, there's something Patel can teach you.
35. Score.org
Whether you prefer your workshops in the real world or virtual, Score is the nation's leading mentorship platform for entrepreneurs. Find out how to grow your business smart by depending on the best.
Web startups interested in monetizing can get started at this platform. It calls itself "curiously famous" and is renowned for helping entrepreneurs make passive income online. It sounds easy, but it's an art and skill that you need to learn.
Even though this is a U.K. site, it's applicable to startups on either side of the pond. Find the tools you need and the articles necessary to get your startup off the ground. It's especially useful if you have dreams of going multinational.
Back in 2007, this site was the "unofficial" how-to guide for Facebook, but today it runs the gamut when it comes to covering websites. Want to stay up to date on the latest entrepreneurial news and website? This is your secret weapon.
39. TED.com
The talks TED features are inspiring and revealing, and though the site isn't "just" for entrepreneurs, there's a strong community of founders there for a reason. Many of the featured talks are compliments of successful entrepreneurs.
With more than 18,000 entrepreneurs and CEOs on this site, this is the place to talk about investing and fundraising. Whether you're a startup or your established business could just use a boost, don't overlook this resource.
Better known as "The Art of Running a Small Business," this Times blog is the ultimate tool for entrepreneurs and founders. The advice is current and easy to consume, and if you download the app, you have the latest information right at your fingertips.
Kawasaki's "How to Change the World" blog is a comprehensive platform from one of the best. Some of the most common themes include human capital, management, and advice just for entrepreneurs.
A business blog designed to suit every industry, this is where you can get the support and encouragement necessary to keep moving forward. Enjoy the latest entrepreneurial news as well as features that highlight how some of the most successful of founders made it to the next level.
Are you a young entrepreneur with dreams of making it big before the big 3-0? If so, then this blog is for you, but you don't necessarily still need to be a twentysomething to benefit from it. Advice for younger founders can be just as relevant no matter what your age.
45. Marco.org
The founder of Instapaper, Marco Arment, blogs regularly to help other entrepreneurs avoid the mistakes he made early in his career. Personable and realistic, Arment is your insider source.
A newsletter worth subscribing to? It's true when it's StartupDigest, which focuses on information for entrepreneurs without ever getting off course. If distraction is an issue for you, it won't be with this offering.
The spirit of entrepreneurship is alive and well at this blog, where it's all about encouraging personal growth. It's something founders can put on the back burner, but it's crucial to be a well-rounded CEO.
This is not specifically for entrepreneurs, but the commentary makes it a requisite for any business professional. You need to stay up to date on all news, not just entrepreneurial news, to cultivate partnerships.
49. Inc.com
The famous magazine has an excellent section for startups. Find out the latest in tips, news, and resources for entrepreneurs from one of the most reputable magazines in the industry.
When you run a business, it's important to foster relationships with peers, colleagues, and partners, which is why keeping up with business news is crucial. Let Forbes make sure you're up to speed on the latest topics.
Of course, the most beneficial website is the one that works for you. Get to exploring, but keep an eye out for time wasters.