Tuesday, 26 May 2009

Business in the making

Okay, so i have my idea and I'm on track for producing a business plan. Stay tuned and watch this space for news on how my first business is going to take off.......or fail. i will be updating this blog with useful resources, and more importantly mistakes i am sure i will make along the way.......

Sunday, 17 May 2009

Here are some characteristics of a millionaire:
1)Bold and unafraid to take action
2)Able to step out of their comfort zone and do things differently
3)Will still charge ahead with their ideas despite “negative critics”
4)Decision maker
7)Belief and Faith
8)Positive attitude
9)Boundless Energy
10)Loves what they do and can’t wait to keep working on it
11)Able to form a team of like-minded individuals to help
12)If they don’t have money, they know how to get it by forming key relationships
13)A solid business plan (or what they call a “battle plan”)
14)Entrepreneurship (most want to be their own boss above the security of working for someone else)
15)Creative and can come up with good ideas
16)Can see the good in situations no matter how bad it is
17)Have good mentors and role models
18)Have a burning desire to succeed (succeeding to them is so important that there’s no room for failure)
19)Wants to be “somebody” badly and all the rewards that comes with it
20)Has a need to provide for their family and take care of their loved ones
21)Discipline and good work ethic
22)Excellent communicator and salesmanship
Peter Jones (as seen on Dragons Den) attended Desborough School, Maidenhead and latterly The Windsor Boys' School where he studied A-Levels in Economics, Biology and Geography.
A keen tennis player as a teenager, he earned money by giving tennis lessons and set up his own tennis academy at the age of 16.
His second venture was a computer business where he manufactured PCs under his own brand and in his mid twenties opened a
cocktail bar in Windsor based on the Tom Cruise film Cocktail on which he lost £200,000 after deciding to sell it. In his late twenties he lost his computer business due to customers failing to pay him. He was forced to give up his four-bedroom home in Bray, his BMW and Porsche cars and move back in with his parents.[3] He then joined Siemens Nixdorf, and became head of the PC Business in the UK the same year at only 28, the youngest ever head of a business unit.
After working for
Siemens Nixdorf he worked in the telecommunications market for 12 months and made enough money to set-up his next venture Phones International Group in April 1998. He started humbly by sleeping on the office floor but business soon grew. The firm experienced explosive growth with revenue totalling £14 million by the end of the first year and £44 million by the end of the second. The company was one of the fastest growing businesses in Europe. Group turnover for 2005/2006 was in excess of £150 million. The group counts every leading brand in the wireless communications industry among its business partners, whether as a supplier, customer or collaborator.[citation needed]
An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. It is an ambitious leader who combines land, labor, and capital to create and market new goods or services. [1]The term is a loanword from French and was first defined by the Irish economist Richard Cantillon. Entrepreneur in English is a term applied to the type of personality who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome. Jean-Baptiste Say, a french economist, believed to be coined the word Entrepreneur first in about at 1800. He said an entrepreneur is "one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labour".[2]