Thursday, February 28, 2013

39. entrepreneurship 101

In spirit of "moving forward", I've been keeping myself busy with going to an entrepreneurship course, visiting dealers, researching, all in preparation for the project next year.

You might as well know that I'm planning to open a shop next year with two partners. It's a lot of preparation, especially the paperwork, and most importantly funding. You need to calculate a lot of things such as profit and loss, location, raw materials, overhead costs, whether the effort will be worth the outcome.

There's so many attributes when it comes to selling something from a brick and mortar shop. An entrepreneur should be innovative, proactive, risk-taker and always positive. This ultimately shapes the success of the business, along with the profit and experience. However, the catalyst that helps the businesses's sustainability are careful planning and monies $$$. There is no such thing is too much research!

[Source: Ardichvili, A., and Cardozo, R.N. 2000. A model of the entrepreneurial opportunity recognition process. Journal of Enterprising Culture, 8(2): 103-119, retrieved from http://profcraigarmstrong.wikispaces.com/Opportunities]

Alhamdulillah, in Malaysia, there are many agencies who provides such funds and grants. For future entrepreneurs, look for MARA, MEDEC, PKEN, SME Corp, PUNB, TEKUN, TERAJU, and the likes. The list is endless. There are even legal guarantors such as CGC.


But don't forget to do it all in style!
(Wedges from Forever 21, RM 139 SO COMFY OHMAIGOSH)

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