Introduction to interprunership;

it is an art of turning in and I get into a business entrepreneurship assemble and then integrate all the
resources needed money the people we've got these days we for the people we call them the human
capital right the money the human capital the people the business mode.l which is very important systems
processes guidelines the business model the strategy the transform an inventionor an idea in your liable vision
so it meets an integration of all these factors the money the people the business model and the strategy to
perform an invention or an idea into a viable business so that's very important.

Three reason to become enterprnurship.

the three primary reasons that people want to become entrepreneurs and start their own phones. is I had to be
their own boss you need that freedom you know you need to you need that freedom you want to create certain
things obviously we we do not recommend a fresh graduatejust coming out of the school to becomean
entrepreneur on day one itself we consider that there should be three schools in life the first one is an
academic school where people learn the classrooms the second one is an employment where the understand
process systems you know guidelines how to deal with people.
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characteristics of a successful entrepreneur you must have a passion for business there must be a hunger.
they must be eagerness there must be that desire to you know went into the darkness they're not free skating
is there so that's why you know to take that risk there must be a passion somebody who doesn't have a
passion never BS then the product must be able to satisfy customer needs that's what we is referring customer
focus the product must be able to satisfy the customer yes that's the second factor because today if you even
if you you know come out with a brilliant typewriter or a brilliant you know iPod or a Walkman or a pager it will
not work because the customer doesn't mean those products they have already formed so what does the
customer need and what is the product that you design the third one is execution intelligence having a brilliant
idea straight have you really strategy straight having planning planning things in our head like you know
budgeting planning that's also great what you need to execute that what you need to implement that you know
your day-to-day business you need to ensure that things are happening now in the shop floor I think it's a
manufacturing business or service business execution is very very important in a city despite failure .
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say that entrepreneurs are born not me it is a myth the myth is based on the mistaken belief that some people
are genetically predisposed to be nominee or that's rubbish you know the consensus of many studies is that
no one is born to be an honor everyone has the potential to become and become one because we have seen
the sons and daughters of biggest entrepreneurs feeling like anything you know although they are born with
solid silver smooth em then there are cases that stories that we know that they have failed very badly and and
there are enough cases enough stories about about the first generation entrepreneurs we are reading it well
so entrepreneurship can be learned no one is born with that thing and you know you can really everyone has
the potential Thanks what are the characteristics of he or she has to be a moderate respectively stable he or
she has to be a networker or network networking skills with one achieve actually been motivated to the
body like performance motivated achieve in one if there are opportunities you need to be alert to the
opportunities.

5
you have to get into an entrepreneurial forms from Saturday substitute firms to lifestyle forms the focus has to
go into multiple forms which means firms that bring new products and services to the market by planing and
seizing opportunities regardless of race or something rather than becoming a copycat or you know me two
things you need to create new things new products suited for the new demands .

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I have already mentioned that impact on society impact on larger forms so many a wonderful firms have built
their entire business models on producing protein services that help philosophers become more efficient now if
you are starting you might be studying in a b to b model when I say b to b model it's a business to business
model your customer is other large business your producing raw materials or service for the class
business like Casey consulting for example our customer is eminent Mac how custom experience life
insurance how customer is development funding so these are larger forms we are helping these Rogers wants
to become more efficient and effective .
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entrepreneurial process idea generation the first step to entrepreneurial process is idea generation wherein
the entrepreneur identifies and analyzes business opportunities for this purpose an entrepreneur performs
market research and takes input from different people to find out an optimum business opportunity thereafter
the entrepreneur analyzes whether the conceived idea is worthy for investment or not so as to take calculated
decision regarding the opportunity developing business model after finalizing the idea the next step is to create
an optimum business model the business model is significant for the success or failure of any business
venture as it acts as a major criterion to check whether the organization is moving towards its set goals

chap 2
1
idea can be anything and it can be invented from brain power from thinking from whatever purpose it comes
from but it actually has no internal or commercial value and idea usually a requires inspiration because it has
to come from somewhere and actually means people have put in their thoughts to develop it that also is
another reason why usually an idea is the solution to a problem .an opportunity is a very possible and viable
thing to do now but before do we do so let's first define what an opportunity is an opportunity actually is
something that has a commercial value meaning you can sell this and people are willing and able to pay for it
an opportunity actually takes time effort and people to develop it to an opportunity meaning it has to go
through several iterations.

2
three ways to identify opportunities observing trends what are the different trends in in the market and
economy solving a problem. we need to define a problem you need to solve a problem and then finding the
gaps in the marketplace so there are new life insurance companies trainings are required market yeah we are
we are now working on coming out with a robust municipal finance bank we are now coming out with with a
robust municipal finance.

word that describes the basic requirement for an entrepreneurship venture is passion number two risk-taking
entrepreneurs are risk takers ready to dive deep into a future of uncertainty but not all risk takers are
successful entrepreneurs three self-belief hard work and discipline dedication entrepreneurs enjoy what they
do they believe in themselves and are confident and dedicated to their project for adaptability and flexibility it
is good to be passionate or even stubbornabout what you do but being inflexible about client or market needs
will lead to failure five understand your offering in its market entrepreneurs know their product offering inside
and out they also know the marketplace and its dynamics inside and out six money management it takes time
to get to profitability for any entrepreneurial venture till the capital is limited and needs to be utilized wisely.
4

when looking for a new business idea there are two possibilities number one take an existing product service
or idea and modify or improve on it ask yourself isn't there a better way number two you can come up with a
brand new idea that has never been done before an idea that may be transformational like Thomas Edison and
the lightbulb of course there is less risk in taking the first option than the second but that should not stop you
in your pursuits the key word in both cases is innovation another cliche is necessity is the
mother of invention.
5
its weaknesses the red hat you look at the problems using your intuition gut reaction and emotion while the
blue hat represents process control it's the head worn by people sharing meetings for example when facing
difficulties because of ideas running dry you ask certain people to wear the green hat thinking creatively
or wear the black eye to think.

Chap 3
1
The feasibility analysis so feasibility analysis is actually the process to see to check whether a business idea
is viable or not right. those are easy to get then probably you should consider starting the business after you
have this confidence as you have this surety.

 first one is the product or the service feasibility analysis its purpose is basically you assess whether the oral
appeal of the product is good at heart right so before the prospective firm rushes to a new product or service in
development it should be sure the firm should be sure that the product or services were prospect prospective.
first thing that you should do is administer a concept test a concept test is basically a web page description of
a business that is distributed to the people probably your family members probably your colleagues probably
your mentors.
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all the universities colleges schools universities thereby situation centers online offline all of them online
teaching academies and websites and platforms basically they they make together the education industry right
but let's say you are producing a software that will help the primary school students and at the university that
the universities right so then your target market is a very small segment of the entire industry.
4

two aspects of these as we discussed before one is the industry attractiveness and the other one is the
target market attractiveness so industry attractiveness is different than the target market attractiveness let's
say there are two industries I would mention one is the mining industry and anotherone is the IT industryalright
so if you look at her if you imagine both the industries so one IT industry it is more innovator which is more fast
the return on investment is huge right even you can hear a trillion dollar company like Amazon right but on the
other hand .

5
lifecycle my fragmented we mean there are many many small players and there is no dominant player in the
market right so in the search engine yes it is like the Google in the Bing and some other companies right but in
the let's say in your local restaurant industry or maybe the health sector you can see there are many many
players but no one single player is dominating the whole market all right so that is what we mean by the
fragmented and the concentrated so you definitely you want to go into effect a fragmented industry because
there is no particular brand dominating the whole market right so it is a little bit easier to enter into that market.
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pportunities for investors to convert equity into cash right so that means that is important you started a
business that cost 1 million dollars let's say all right and in 3 years time could you sell their business for 10
million dollars right so in 3 years time the worth goes from 1 million dollars to 10 million dollars for nine million
dollars along the way so 3 years of hard work maybe it is it enough for you guys right so can you do that.
Chap 4

1
it will become ready to go to further steps within writing the business plan. Well, the first aspect writing a
business plan is preparing or developing a successful and effective business model. What we mean by
business model, as per our book, is that it's the plan or the recipe or the method at which the new business
creates, delivers and captures value for all its stakeholders. Talking about business models, the book
mentions two big categories of them. The first one is the standard business model, the normal business
models that have been in existence for a long time, such as advertising business model or bricks and mortar
business model. The second type or the second category is the disruptive business model, at which the new
business disturbs the way the business is usually done.

2
 Talking about business models, the book mentions two big categories of them. The first one is the standard
business model, the normal business models that have been in existence for a long time, such as advertising
business model or bricks and mortar business model. The second type or the second category is the disruptive
business model, at which the new business disturbs the way the business is usually done, such as the
business model of "Google Ads" in terms of online advertisements.

3
"Barringer Ireland Business Model" because the authors of the book are "Barringer" and "Ireland". So, this
model contains four parts; Each part has several points; Total points are twelve. The parts and the points are
interrelated with each other, so the model represents these parts, which make out the core aspects of the
business, as long as shows how they are interrelated to each others. The first part or aspect is the core
strategy. The core strategy means how the business works relative to its competitors. And under
core strategy, there are four points, which are the business mission, and base differentiation, target customer
and product/market scope. Then comes the second aspect, which are the resources. Under resources comes
two parts, which are core competency and key assets. Then comes the third category or part, which is
financials.

Chap 5
1
 "Industry Analysis". Regarding industry, It is simply the group of companies, customers, and buyers, who
share or who produce the same products or services, or even similar products or services, so this is called the
industry. So, when a new company competes within an industry, it doesn't compete alone. Well, it competes
within a community, within a business community. So, that's why it's quite important for all new businesses to
understand well the industry at which they are working at, characteristics of this industry, the pros and cons of
the industry, and try to forecast the future of that industry. There are actually two primary key, key questions
when studying the industry,
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These five industry forces are quite important for the industry because they have strong effect on it. The forces
are the, the threat from similar products or services. It means are they, "Are their products or services which
are similar to the ones which the industry will provide from a different industry?" And then "Can the customers
leave the industry completely and go to different products or services from a different industry?", and then to
the threat of new entrants, the new companies that can open in the industry, and then the rivalry among
current businesses or companies within the industry "Is it extremely strong or not?", and then the bargaining
power of the suppliers within the industry, and finally the bargaining power of the buyers; It means the
companies in the industry who deal with the suppliers. 

3
center of the model lies competitive rivalry and there are four other factors which are the power of suppliers
power of customers threat of substitutes or threat of new entrants we're going to can each aspect each force in
detail main aspect that that actually defines the level of competition in an industry or the level of profitability in
an industry is competitive rivalry this looks at the number of competitors and their strengths in comparison to.

primary industries are further classified into two diets namely genetic industries and extractive industries pes
in details primary industries produce goods using natural resources examples of primary industries include
agriculture fishing dairy farming mining etcetera genetic industries are the types of primary industries which
deal with the reproduction of different grodd's animals and lawns ndustries are the types of primary industries
which carry out extraction of different raw materials and ores from the earth.

four indicators of a rivals likely strategic moves a strategic profile of a rival that provides good clues to their
behavioral tendencies can be constructed by characterizing the rival among four dimensions current strategy
objectives capabilities and assumptions to succeed in predicting a competitor's next moves company
strategists need to have a good understanding of a rivals current strategy  .competitors past behavior and
preferences provides a valuable assist in anticipating what moves rivals are likely to make next and out
maneuvering them in the marketplace.

Chap 6

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feasibility analysis and making a successful business model. So all these points ,all of the rigor, all of the
effort, all of the points that we have gathered, all of the research will be well documented in a systematic
format in the business plan. Why do you need to make business plans? It is because it has both benefits,
internal and external. The internal benefit is that it allows the founders to think deeply about each and every
task of their business, so that they can omit any mistakes, and can present their business and implement it
in the best possible manner. About the external benefit, it is the document that presents the business well to
all stakeholders including investors

2
A business plan is for whoever you need to see it. It can be an internal document that you show to employees
co-founders or others inside the company to help them catch the vision and understand your strategy. It can
also be used externally to show potential investors, future employees, or possible partners what
you'replanning to do, why you're doing it, and how you're going to succeed. Can you write a business plan on
your own? Absolutely, although advisors and templates can help you avoid writer's block and keep your
momentum going. At Bplans.com, We have a business plan template you can download for free, or you could
just wing it,
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 ideas worked out you can create one cohesive document theof your business plan are one overview to
message three marketing for product five production and delivery and finally it's six goals  . your company
structure the location where you do business and also a brief description of exactly what your company.

here are the 6 sections that you should include in your business plan the first section is your executive
summary which is essentially the introduction to your business plan then the next section is your company
analysis which gives a little more background next up is your industry analysis where you talk about your
market and trends the fourth section of your business plan is your customer analysis where you go more in-
depth about your target market the fifth section is your competitive analysis where you provide an analysis of
your competition including what differentiates you from your competitors the sixth section is your marketing
plan.

5
 first thing that an investor looks at is the executive summary of your business plan they don't
have time to read a 30 40 50 page document they want to see that one to three pages at the start that quickly
explains what it is that you do if they don't like it if they don't see the opportunity . the next thing gonna look at
is your management team because in investors eyes the idea is important but much more important than the
idea is the team that's going to execute it .

chap 7

we are faced with ethical dilemmas almost on a daily basis and unfortunately some people don't
always follow the moral code of doing what is right they don't consider the cause and effect of their actions
putting their own benefits before anyone else going back to the example of the cashier if you walked away with
the extra cash thinking well they should do their job better or it's fine the company factors in for human errors  .
unethical business decisions are still happening today.  executive level a lack of ethics has a negative effect
on employee performance.

four ways to protect intellectual property and those four ways are patent on whatever inventions that you have
made in your business or for your business trademarks on branding devices that is another way of protecting
your drop intellectual property and the third involves speaking observing and empathizing and number four of
course are the trade secrets four methods formulas which have some economic value so these are four ways
in which the intellectual property can be protected.

3
if my business was not nationally these could be collection and would just go as kinesia and then my name
that with my business name but a fictitious name is naturally these collection it's a name separate from my
own name.  actually have to send in a form and actually get it approved through this state so that will take a
couple of days they'll give you back your you know your yes or no and then you can file for your fictitious
name.

4
the Legal Forms of Business Organization There are three common forms of business organization, including
sole proprietorship, that is one-person business partnership, a group of people, like friends and family, doing
business together corporation basically is a big company that is allowed to sell sharesUnder sole
proprietorship Sole proprietorship has no legal status which means the owner and the business are not
separated Owner is the business; business is the owner Anything good or bad happens to the business will
affect the owner Maximum owner allowed for sole proprietorship is only one person Sole proprietorship cannot
have more than one owner Sole proprietorship has unlimited liabilities.

Chap 8
1
Financial management is a very important aspect for companies It’s because financial management is about
maintenance and creation of economic value or wealth. Personal Finance is about how people manage their
own money It would answer the questions such as how much they spend how much they save and how they
invest their savings This is more for individual financial planning. Finance people are basically treasurers
whilst accounting people are controllers Finance people always focus on how to invest how to make more
money for the company.

he key benefits of using financial objectives because these really are quite important when it comes to
effective management of a business right at the top there I think is a particularly important one a financial
objective that provides a focus for everyone in the business .  hopefully also consistent with achieving our
other objectives and also importantly without damaging the business's level or reputation for quality.

You want to ensure your bill collection and payments are on time. Doing this will help you stay on track and
plan for emergencies. If you run a seasonal business like a landscaping company, your cash inflow for the
entire year may happen in just a few short months. These items include rent, taxes, salaries, and any other
monthly expenses that do not change.

4
 pro forma financial statement is defined as the most famous one is a financial statement prepared on the
basis of some assumed events that we assume by ouself and transactions that have not yet occurred. Historical
financial statements are used to measure an organization's past financial performance past mean we have desided
before and condition.

5
historical financial information historical financial information are information that are expressed expressed in
financial terms financial terms in relation to a particular entity in relation to a particular entity and which are
derived which are derived which are derived from from that entities that entities accounting system that are
derived from that entities accounting system about economic event about economic events occurring in the
past periods occurring in the past periods or about economic events economic conditions or about economic
conditions or circumstances.

the first things that most people think of is they think about the quantitative type of forecasts they think about
taking historical data or you know time series or correlation data and and kind of creating these forecasts out
into the future of what we think is going to happen . qualitative forecasting methods there are four .and for
quantitave has also four part for good quantity. Executive sale method, sale method, etc

 pro forma financial statement you must understand is a part of the planning process they are financial
statements which are prepared for internal use if you remember we've mentioned before that financial
statements are a general purpose statement which is studied and discussed and which is studied analyzed
pored over by all people and many kinds of people it's available to the public by the shareholders by the
prospective investors by the lenders by the suppliers by the customers by the management dancers by the
employees and so on and so forth but when we are making pro forma financial statements you must
understand that it is a part of each part of the internet it's a part of the internal planning .

chap 9
1
 liability types are either known , they're estimated , they're contingent upon something else. The liability of
newness describes the different risks of dying of an organization . It states that at the point of founding of an
organization the risk of dying is highest and decreases with growing age of the organization.

2
new venture teams that they aim to do in this project is basically bringing together two lot rather separate
fields of research the team behavior research which is big in say sports psychology or in top management
team in big corporations and entrepreneurship research which is real about how new organizations emerge
grow and contribute to society and these research spheres have been largely disconnected but we want to
bring them together.

3
 some common financial professional designations, identify key differences between them, and explain why
you may choose to work with a financial advisor. When you consider the service providers you trust most and
who might impact your life, your financial advisor might rank up there with your doctor or lawyer. But what
exactly is a financial advisor? Put simply, a financial advisor refers to anyone who helps people manage their
money.
4
 creation principle to the fairness concept treat other people as you would want to be treated principle three
reward results and especially those who create revenue and attract and grow key talent principle
for respect for meaningful sweat and sacrifice principle five strong chemistry among teams. in developing the
reward system particularly the distribution in certain areas are of particular value to a venture will consider
idea business plan preparation commitment and risk skills experience track record or contact responsibility.

Chap 10

For a business to keep running successfully, the amounts of profits that we gain from profit coming in must keep
increasing. This means for the initial capital investment must be well managed so tht we aree getting benifit, with a
thin line between debt and equity financing. The importance of finance in business is in the ability to ensure that
a business operates and the without any financial hiccups the like running short of cash.

one is ten questions to ask before even go and raise money that's number one number two six different ways
to raise money and last but not least where are these investors and when you do find them how do you
communicate with them so prior . it's easy to ask for money but many times I think that the innovator the ideal
person only thinks about themselves and sometimes the best way to know how to communicate with the
people that have the money is if you were this person if you were this person would you give money to your
idea having all the information and wouldn't you want to know on how the money's.

3
they are internal sources of fund and external sources of fun the internal sources has been divided into three
parts which are profit depreciation and sales of assets . the external sources of fun are short-term and long-
term which are further classified as in external long-term sources of fun include share capital it is for limited
company it is often considered as permanent capital as it is not repaid by the business.  the amount to be
overdrawn depends on the need of business at the time bank loan is a loan which requires a rigid agreement
between the borrower and the bank .

Finance is the function responsible for identifying the firm's best sources of funding as well as how best to use
those funds. These funds allow firms to meet payroll obligations, repay long-term loans, pay taxes, and
purchase equipment among other things. Although many different methods of financing exist, we classify them
under two categories: debt financing and equity financing. To address why firms have two main sources of
funding we have take a look at the accounting equation. The basic accounting equation states that assets
equal liabilities plus owners' equity. This equation remains constant because firms look to debt, also known as
liabilities, or investor money, also known as owners' equity, to run operations. Now lets discuss some of the
characteristics of debt financing.
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A benefit of using equity financing is the flexibility that it provides over debt financing. Equity financing does
not come with the same collateral and covenants that can be imposed with debt financing. Another benefit to
equity financing also does not increase a firms risk of default like debt financing does. A firm that utilizes
equity financing does not pay interest, and although many firm's pay dividends to their investors they are
under no obligation to do so. The downside to equity financing is that it produces no tax benefits and dilutes
the ownership of existing shareholders.
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different sources of equity financing the different sources of equity financing our first one is personal saving
second is family members and friends third is business angels fourth one is venture capital and the fifth and
the last one is going public nvestors and lenders expect entrepreneur to put his own money in business
venture I the business can function borrowing excessively puts a lot of pressure on the cash flow of the
business and becoming a minority shoulder shareholder may have a negative impact on the enthusiasm of the
entrepreneur.
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advantage of investing your own money is that you've got no interest charges and lenders tend to be more
willing to invest if they know you've put some money in personally and you're willing to take that risk of course
there are drawbacks you could spend that money elsewhere and you may not actually have enough capital to
actually meet the needs of what you want the money for and as a result of that you may have to look
elsewhere in the end anyway however it is one thing to consider that invest in your own money is useful now
the final source of internal finance is something called sale of assets and that's something off the items that
the business owns but hopefully it no longer needs v external source of finance would be an overdraft now
overdraft is a short-term loan from the bank which allows the bank account that you've got to go past the zero
figure now overdraft should only be used in the short term now the advantage of an overdraft  .

BBBBB
2
the first step is to define your why why are you here why are you making selling this product or service
that kind of thing yeah and to add to that is step two what's the problem and what's your solution this can be a
major pitfall you know make sure that you've got a solution to a problem that exists if your solution doesn't
solve anything you know then why are you here in the first place and this is where you ask yourself what are
you providing to the customer and what makes you different than the competition are you making your product
more affordable than other products is it more efficient it might be more reliable they're all important
questions to ask this is a good time to be now the next step a little little introspective what are you providing
for your employees why would people want to work for you yeah and that goes along with step number four
which is what are you providing for the company's owners so in a similar fashion to the questions about
employees why do people want to invest in your company.
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commercial sheep farm business is very profitable and you will get your investment back within a very short
period unemployed educated young can also make a good income and employment source through raising
sheep commercially sheep are suitable for meat and wool production you don't need to have a huge capital for
starting a sheep farm sheep farming business require less labour than any other livestock farming business
sheep give birth of kids frequently so the size of your herd will be large within a short period even you can
raise sheep with your other livestock animals if you have proper facilities then you can raise sheep in both
small and large scale sheep farm business can be a great source of income and for eradicating poverty from
the barren desert semi-arid and mountainous areas it is also a reliable income source for the people who are
engaged with animal farming business sheep products have a huge demand in the international market
try to purchase quality breeds from famous farms or breeders all of those blades are not suitable for farming in
all areas some breeds are suitable for commercial meat production and some breeds are suitable for wool
production choose suitable breeds according to your desired production purpose press the belacan on the I
never miss another update selecting a suitable location for starting a sheep farm 
4

Owener responsibilities if you're unfamiliar with being a director there are a number of responsibilities that you
must maintain on becoming a director you're entrusted with the legal responsibilities of presiding over a
company by forming a limited company you are in effect establishing a separate legal entity to yourself it has
its own legal rights and accountability any losses or profits and cut belong to the company you must make
decisions for the benefit of the company and not yourself this may seem confusing if you're a sole shareholder
employee and the director but a decision that may benefit you personally may adversely affect the company
position you must run the company in accordance with the law and rules laid out by the company's articles of
association these are guidelines to making decisions which you and any shareholders agreed to when you
incorporate the company .
5
tips to grow your business first be hands-on and meticulous in order to grow your business the business owner
needs to be there all the time and hands-on like a doctor a business owner can never be afraid to do the small
tasks he or she should pitch in and straighten up boxes or pick up things small things do get noticed so
attention to detail is very important second show your passion selling is a transfer of enthusiasm business
owners need to show their enthusiasm for their product or service as well as for their customers  
focus on the customer the purpose of business is not to make a profit . become more competitive unless you
have an exclusive monopoly competition is everything.

sheep farming business sheep don't require high end or expensive housing they are happy as long as you
fulfill their basic housing needs even you can raise them with other livestock animals in small-scale production
but for commercial production you have to make a separate and suitable house for them usually an adult
sheep requires about 20 square feet floor space keep the wolf at least 6 feet high from the floor make good
ventilation system always try to keep the house clean and dry ensure a flow of sufficient air and light inside the
house u  food of sheep good feeding is must for proper growth and maximum production high quality food also
helps to keep the animal healthy productive and diseases. Earning big profit in case of marketing you can try
your local livestock market it will be better if you determine the marketing strategies before starting this
business.

mistakes of new entrepreneurs one your product doesn't have a market identify a market need before creating
a solution building a product and then looking for a target customer is a recipe for disaster and zero revenue to
your resources ran dry time and money aren't infinite resources use them efficiently and wisely three you're
not working with the right people hiring brilliant people won't get you anywhere if they can't work well together
build a team with complementary skills and perspectives for your outmatched don't obsess over competitors
but don't ignore them either even if your product is superior a flawed user experience and sluggish time to
market can kill your startup 5 your pricing model is flawed are you priced too high
or too long find a sweet spot by learning why customers churn do they say the product doesn't justify its cost
or complain about usability instead 6 you're not user friendly just because you think it's a great idea doesn't
mean customers will love it listen to what customers tell you they want assume nothing
seventh you don't have a concrete business plan even with a great product people want you need to be able
to scale appropriately create a sound business model investors can trust and you can rely on as you grow 8
your marketing efforts fall flat a great product is meaningless if nobody knows about it know your customers
pain points and how to capture and keep their attention 9 your customers take a backseat to your vision you
need a clear vision to achieve your goals.
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 the first thing that any business owner should do before hiring an employee is improve their personal systems
when I say personal systems I mean the way in which you operate the business is the reflection of you and so
before we bring someone else into this mess we want to make sure that you're as efficient number two
improve the business systems or for most small businesses get some business systems this means that you
have documented processes and procedures that you're clearly delegating the responsibilities within the
business to make sure that the employees know what they're supposed to be doing before you make the
higher number 3 improve technology that means that you invest in the best computers the best operating
system that you can get .

they include organic traffic which is free traffic there's paid which is using paid advertising and then there's
owned organic typically comes from social media or seo and i'll get more into these two shortly but if you're not
sure what seo is it stands for search engine optimization which basically means optimizing your website to
appear in google search results paid traffic typically comes from running paid ads or paying for shout
outs on other websites blogs or social media accounts that already have high traffic and then you've got own
traffic which is basically like building an email list it's giving the most realistic advice in your podcast.
10
Start with the imperfect version, but start now There’s a saying going around in Silicon Valley that goes like
this: If you’re not embarrassed by your launch version, you launched too late! Beginners fall in the trap of
perfectionism all the time. The truth is the sooner you get in front of your potential customers the quicker you
realize what needs to be improved. Stop with the nonsense: Launch now, get the ball rolling and polish it along
the way!