According to the Online Etymology Dictionary, process is defined as thus: “tempering, refining of something to a certain degree”. I believe this description of the word “process” perfectly encapsulates what the field of entrepreneurship is all about. It’s not just any kind of process but it is the kind of process where something (or in this case, someone) is refined to a certain degree

Whenever you try to sell your business to an angel investor, it’s hard to fathom just what goes on in the mind of these venture capitalists, particularly the seasoned ones. Still, you’ll want to keep in mind that even experienced speculators are likely to be biased against first-time entrepreneurs. After doing business with so many new ventures, the angels are simply used to expect several behavioral cu

Everyone dreams of having a successful business idea. One that will revolutionize the field, blow the pants off consumers, and change the game the way Windows did for computer operating systems and what the iPod did for the MP3 market. And hopefully, one that will allow you to be as revered as the late Steve Jobs, or as rich as Bill Gates. Unfortunately, the reality is that such game-changing ideas only come once i

When you go into business, the assumption (and hope) is that it will succeed. Few start a venture with failure firmly fixed in mind, or else they wouldn’t have bothered at all. Unfortunately, it doesn’t always work out well. There may come a time when you must realize that the odds of the market are against you. Rather than absorbing more blows from the depressed economy and going fasting just to pour m

The customer with extremely unique demands is not rarity in business, though some more than others. People want to stand out from the crowd, and it is not surprising that every once in a while a business has a customer with some special needs. In fact, a lot of businesses make a specialty of doing or creating whatever people want, how they want it. If a customer wants some home mortgage quotes for their dog or cat

You never know how long your country’s economy will be able to hold on. Time and again, you will hear of some catastrophic news, among them earthquakes, tornadoes, tsunamis, riots, and so on. No matter how strong a nation and how stable the economy is, when these unforeseen disasters strike, businesses are most likely to suffer. Whatever kind of dilemma hits a country, be it man-made or a work of nature, wh

Each company has a cache of information which it can’t share with others. These are called proprietary information, and can either be the company’s trade secret or confidential information on clients or operations. Divulging such information in public can have bad consequences for a business. Trade secrets are guarded because a company depends its survival on them, alongside profit. In the same vein, confid

Businesses more often than not rely on trust to function properly. The company must trust the customer to pay for whatever goods or services it is taking. The owner must trust that his suppliers and employees can do the jobs in a manner that allows him to operate things smoothly. The business must trust that nobody is coming in to steal anything form the company. However, since this isn’t an ideal world, ther