4. Business: is the buying and selling of products and services in order to make money. Employee: Someone who earns a living by working for someone else’s business. Wholesaler: is a business that purchases directly from the manufacturer. Retailer: Retailer buys small quantities from the wholesaler in order to sell to customers. Entrepreneurial Vocabularies.
5. Keystoning: is the buying of a product at wholesales price and then selling it double of the wholesale price. Venture: is a small business that originated as an idea in the mind of an entrepreneur. Market: are the people a business serve. Profit: When the money you make is more than what you use to pay the bills. Entrepreneurial Vocabularies.
7. Entrepreneurship is about MEETING NEEDS & SOLVING PROBLEMS. Carve out a MARKET NICHE for your self by engaging your market CREATIVELY & INTELLIGENTLY. CONNECT your BUSINESS IDEAS to the NEEDS of your MARKET. Meet needs: Solve Problems.
10. Insolvent: A business that is loosing money. Bankrupt: If the Money you are making can not pay your bills. This business will eventually go Bankrupt. Assets: Items of value owned by the business. Creditor: People the Business owe. Debtors: People who owes the Business. Business is a process of Discovery.
11. WEALTH , JOBS & VALUE IS A RESULT OF WISE USE OF RESOURCES. RESOURCES: Oil, Wool, Cotton. CAPITAL: Land /Labor used for the creation of Products & Services. MONEY also is considered as capital used as a business resources.
15. Characteristics of an Enterpreneur. adapt compete Adaptability: this is the ability to cope with new situations and find creative solutions to problems. Competitiveness: the willingness to compete and test oneself against others
16. Characteristics of an Enterpreneur. Confident Discipline Confidence: this is the belief that you can do what you set out to do. Discipline: ability to stay focus and stick to a schedule and deadline.
17. Characteristics of an Enterpreneur. Driven Honest Drive: this is the desire to work hard to accomplish one’s goal. Honesty: the commitment to tell the truth and deal with people fairly.
18. Characteristics of an Enterpreneur. Organize Persevere Organization: this is the ability to structure one’s life and keep task and information in order. Perseverance: the refusal to quit; the willingness to keep goals in sight and work towards them despite obstacles.
19. Characteristics of an Enterpreneur. Persuade Risk Persuasiveness: this is the ability to convince people to see your point of view and get them interested in your Ideas. Risk Taking: the courage to expose oneself to possible losses.
20. Characteristics of an Enterpreneur. Understand Vision Understanding: this is the ability to listen to and empathize with other people. Vision: this is the ability to see the end results of your goal while working to achieve them.
21. What does it mean for a person to Have Vision. Vision should not be confused with futurology. Vision is not a quality but an ability. Vision:
23. Wisdom 4 enterpreneurs: The world does not place an early bet on anybody. People will place their bet on you after you have placed your bet on yourself. Be careful because you started well does not mean that you will finish well.
24. Wisdom 2 The more colour your future will have is directly related to how hard you drive yourself. Be motivated, Drive your potential and position yourself Potential is not enough, there are lots of guys out there that have potentials only to come into the grit of life to become duds.
25. Wisdom 3 Talent is not enough either, a lot of talented people have become life failures. Talent is like money, if you don’t use it you will loose it. Success is not a noun, it is a VERB, you must continue to prove yourself from one level to another. The farther you go the higher you must push yourself to go
26. Wisdom 4 Don’t feel bad when people don’t believe in your idea at the start, take it as a challenge to prove your self and how much value your dream is worth. Convert their unbelief into fuel for your venture. Failure is an orphan. Success has many cousins.
27. Wisdom 5 Vision is after a fact. To that extent, vision is ironically past tense. Discouragement may come in the beginning, but its worth to know that the second half of discourage is COURAGE.
28. Wisdom 6 You only become relevant in life when you develop associative value, people must have something to gain by associating with you Don’t be bitter, learn to rationalize. Learn to forgive. Concentrate your energy on proving your self and not proving a point, Don’t loose your focus. Don’t be satisfied with little, put in your Best’s Best. Develop Intellectual capacity and strenght
29. Wisdom 7 You need tenacity an Inner conviction. Excellence is not an option. Develop an excellent Spirit and Culture. Trust in the Lord.
