Some starting line thoughts on entrepreneurship

So, You Want to be an Entrepreneur
By KELLY K. SPORS

Thinking about starting a business? Make sure you're cut out for it first.

In this bleak economy, lots of people are contemplating striking out on their own -- whether they're frustrated job seekers or people who are already employed but getting antsy about their company's prospects.


For some people, entrepreneurship is the best option around, a way to build wealth and do something you love without answering to somebody else. But it's also a huge financial gamble -- and some people, unfortunately, will discover too late that it's not the right fit for them.

Building a successful business can take years filled with setbacks, long hours and little reward. Certain personalities thrive on the challenge and embrace the sacrifices. But it can be a hard switch for someone who has spent years sitting in a cubicle with a steady paycheck.

So, how can you figure out whether you're suited for self-employment? We spoke with entrepreneurship researchers, academics and psychologists to come up with a list of questions you should ask yourself before making a big leap. Entrepreneurs, of course, come from all sorts of backgrounds, with all sorts of personalities. But our experts agreed that certain attributes improve the odds people will be successful and happy about their decision.

Keep in mind that any self-analysis is only as useful as the truthfulness of the answers -- and most people aren't exactly the best judges of their own character. So, you might enlist a friend's help.

Here, then, are 10 questions to ask to see whether you're up for the challenge of entrepreneurship.
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What was recommended to me as the absolute essential reading on the topic of starting a business:
The Successful Business Plan, by Rhonda Abrams.
Forbes calls The Successful Business Plan one of the best books for small businesses.

Entrepreneurship classes and Business plans galore

I just stumbled on a "London School of Economics / Peking University summer school" webpage that freely distributes entrepreneurship course material: LSE WEB course material.

Even more interesting according to me, is this page: Sample business plans. Here you will find quite a few Business Plans from LSE students as well as from students of the University of Montana and Cornell.

Higly educational and entertaining in my opinion.

1st post.

Hidden business advice in Entourage (aka Sex in the City for guys)

Yes I admit it, I like Entourage. I like to dream about cash, fast cars, big houses and hot chicks, even though it messes up my moral.

My show's favorite caracter and probably the only reason i watch the show is Ari Gold. The superstar agent that rose to his elite position simply through hard fucking work and great business skills. He is a source of inspiration for me. Is that sad or immature? Dunno, dont care.

Anyway, in one episode the caracter "Turtle" comes to him with nothing else than what he thinks is a good business idea and asks for funding. In less than 30 seconds, Ari proceeds to bring Turtle back to earth with an epic tongue lashing that I think any guy with a business idea should suffer through at least once.

Here's an extract. Pay attention: this is Business explained in 4 questions.

"All idiots have ideas. Can they EXECUTE IT?
In this life, NO ONE IS GOING TO INVEST BECAUSE YOU THINK YOU CAN.

Do you have a BUSINESS PLAN?
What do you need?
Office space, insurance, how many employees, what do you project to earn, what do you need to break even, AT WHAT POINT CAN YOUR INVESTORS SEE SOME PROFIT?"

Simple, straight to the point. Read and reread: truer words were never spoken.


Update: Found the video on YouTube.