Entrepreneurial abilities Leadership traits High-energy level Self-confidence Organizational skills Ability to act quickly and decisively Independent, goal-oriented, creative, competitive Creating a Winning E-Business Second Edition Chapter 2
Creating a Winning E-Business Second Edition, Chapter 2 11 ▪ Entrepreneurial abilities – Leadership traits – High-energy level – Self-confidence – Organizational skills – Ability to act quickly and decisively – Independent, goal-oriented, creative, competitive
Entrepreneurial Process Entrepreneurial process Stage 1: Are you an entrepreneur? Assess your entrepreneurial abilities Evaluate time and effort involved in starting/running your own business Consider the effect of the business commitment on your family life Stage 2: Buy existing business or start own business? Creating a Winning E-Business 12 Second Edition Chapter 2
Creating a Winning E-Business Second Edition, Chapter 2 12 Entrepreneurial Process ▪ Entrepreneurial process – Stage 1: Are you an entrepreneur? • Assess your entrepreneurial abilities • Evaluate time and effort involved in starting/running your own business • Consider the effect of the business commitment on your family life – Stage 2: Buy existing business or start own business?
Entrepreneurial process(continued) Stage 3: For a new business startup you must Define the business idea Create a business plan Secure financing Stage 4: Operate and grow your business Stage 5: Harvest your business Continue to operate "cash cow Go public Sell the business Liquidate the business Creating a Winning E-Business 13 Second Edition Chapter 2
Creating a Winning E-Business Second Edition, Chapter 2 13 ▪ Entrepreneurial process (continued) – Stage 3: For a new business startup you must • Define the business idea • Create a business plan • Secure financing – Stage 4: Operate and grow your business – Stage 5: Harvest your business • Continue to operate “cash cow” • Go public • Sell the business • Liquidate the business
Group Reading Discussion E-Case From idea to harvest Please identify each stage of the entrepreneurial process that resulted in the successful e business named yesmail Who was involved in each stage of the process? Why? Creating a Winning E-Business 14 Second Edition Chapter 2
Creating a Winning E-Business Second Edition, Chapter 2 14 ▪ E-Case: From idea to Harvest ▪ Please identify each stage of the entrepreneurial process that resulted in the successful ebusiness named Yesmail. ▪ Who was involved in each stage of the process? Why? Group Reading & Discussion
Factors Affecting E Business success
Factors Affecting EBusiness Success