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chahinemm said: "im currently studying startup companies and their characteristics... its so interesting because the way entrepreneurs value risk is totally different in concept compared to how i should say value risk in financial analysis or in a normal running business...
Im currently finishing a potential business plan so i have to look into it... but i taught i would share that for it was a fact that surprised me a lot. :eek:
chahine"
misterjover said: "[QUOTE=chahinemm]im currently studying startup companies and their characteristics... its so interesting because the way entrepreneurs value risk is totally different in concept compared to how i should say value risk in financial analysis or in a normal running business...
Im currently finishing a potential business plan so i have to look into it... but i taught i would share that for it was a fact that surprised me a lot. :eek:
chahine[/QUOTE]
It's interesting that you mentioned risk, and you're right. Entrepreneurs have a completely different perspective of money and risk compared to the average working man.
Another thing about most entrepreneurs is that they don't usually make highly detailed business plans. Usually, they take action with very little planning, but surprisingly, many of them do rather well because their sense of intuitive risk assessment defies the limitations of financial analysis.
I know this because I've experienced this almost every day ever since I became completely self-sufficient. Some call it miraculous, and others call it luck, but it would be safe to say that becoming a successful entrepreneur requires a whole lot of enthusiasm and a whole lot of friends.
:)"
chahinemm said: "[QUOTE=misterjover]
I know this because I've experienced this almost every day ever since I became completely self-sufficient. Some call it miraculous, and others call it luck, but it would be safe to say that becoming a successful entrepreneur requires a whole lot of enthusiasm and a whole lot of friends.
:)[/QUOTE]
good to have u as friend then ;) well anyways what is ur business about... im myself finishing to set it up online... if everything goes fine mid next month i should start phase 1 of my plan which is to get known out there...
chahine"
misterjover said: "I'm in the financial services business. :)
My business partner and I use money to make more money, and we do it for ourselves as well as our clients.
Currently we are working on a project that involves financing, constructing, and selling three beachfront properties here in Southern CA.
We also provide financing assistance for people whose homes are being foreclosed.
On top of that we list properties after doing additions. A typical scenario would look like this:
- A house with 1200 square feet would be conservatively worth about $300,000.
- The clients have a loan of $200,000, and $100,000 in equity.
- They wish to sell their house. We come in and take out $60,000 by refinancing and cashing out from their equity.
- We add 800 square feet to their home for $75 per square foot.
- Now, the house is 2000 square feet, and it appraises for at [U]least[/U] [B]$500,000[/B].
- The refinance pays us 2% of $300,000, and the sale of the house made us anywhere from 3-6% of the new appraised value.
- Plus, our clients made an additional $150k - $200k from the entire process.
Basically, every project we do becomes a win-win situation, and we are planning to develop properties in areas whose 5 year growth curves exceed the nation's average by at least 1.4 SDs so that we can continue to expand our client base.
:)
That's my company in a nutshell. What type of product and service will your firm launch? I'm intrigued by ebusinesses because of the possibility of high volume sales and low overhead."
chahinemm said: "wow i like the business idea simple yet so much potential... foor my case its simple my parents , families and friends have done decades of international trade. i want to use that and put it into a online structure where the information is available for a nominal fee. We have couple of 1000 contacts and offcourse we are in the initial phase soon... just finishing detail of the sites an so forth... everything is in house where my brother and I are the managing aspect and im the technical aspect with a target of 24/7 customer service.
chahine"
misterjover said: "Fascinating! Keep us posted on your progress, because I would definitely be interested in subscribing for the sake of investigating what types of opportunities are available in international trade."
chahinemm said: "for sure since initially its going to be free to attract members u can definitely join us and see what we have to offer...
right now my brother and i are just looking into the financingaspect of it ...
the it structure is ready thnx to Ben's help...
we are targeting to launch on a small scale by mid feb... (only i could get some time off from school :D )
the thing i love about starting a venture like this is u start with a small idea but from that small idea so many other ideas come in that its just phenomenal...
always intrigued about the human brain...
chahine"
scottigee said: "I'm actually about to go into my Entrepreneurship class in about 5 minutes here....it's a fascinating topic. My professor likes to bring in real entrepreneurs that are in the midst of launching their ventures to have discussions with us.
I know I'll be there someday, I just don't know how. In the meantime I made the investment in a little black idea book that I take with me everywhere to jot stuff down. I figure someday some of these will be worth a few bucks ;)"
chahinemm said: "[QUOTE=scottigee] I figure someday some of these will be worth a few bucks ;)[/QUOTE]
for sure but the key is the idea that is in front of u... usually they are right in front of ur nose and u have to pick them up as they come... without asking too much question but thinking the entire step through and who knows u could become the next dell or microsoft or even calaway..
chahine"
jbwood said: "I know I'll be there someday, I just don't know how. In the meantime I made the investment in a little black idea book that I take with me everywhere to jot stuff down. I figure someday some of these will be worth a few bucks ;)[/QUOTE]
Hey man, I do the same thing. Keep up the good work. The way I see it one day one of the ideas you come up with will work, but then again the hardest thing is believing in one of your ideas and pursuing it when no one else believes it will work. Look at Bill Gates, everyone thought his obsession with computers was a waste of time."
scottigee said: "thanks guys
And as I learned in Entrepreneurship class last night...
Your idea can't be an Asprin, or even a band aid...it has to be the bandage that wraps the world's gaping hemmoraging head wounds.
It has to be something they desperately need whether they know it or not.
I think most of my ideas right now are asparin....still looking for the gauze. :D"
HappyHarry said: "Everyday I see small businesses start and I'm amazed. I think people do very little research for starting most businesses. People open retail businesses in bad locations. They price products wrong for markets. Plus I'm amazed at what rip-offs franchises are. And people will lay down $400,000 in these truly ridiculous ventures and think nothing of it."
chahinemm said: "i agree ... harry... i think an idea required at least 4 months of thorough research depending on ur knowledge of the industry. like buffett wouldsay if u know the industry u understand the risk i think in new venture formation its the same thing... but that doesn't stop if u have an amazing idea that u have done amazing research on... that can generate a good if not phenomenal return... but that is just a question of discipline and willing to continue to work hard...
(which is not easy to do...)
chahine"
chahinemm said: "im surprised there is so much research done in startup and entrepreneurship.
The thing that strikes me is to analyse the risk of a entrepreneur vs the risk of a full fledge business.. in my opinion both these risks are different and both values are different.
what do u guys think?
chahine"
pjam1976 said: "While it's good to have the energy, drive, and ambition it is no good to just jump into as they say. Research is key. A great idea/service/product opened in the wrong location will usually lead to disaster.
If a person doesn't do the needed research beforehand, normally that business winds up shutting down in a few years, if not sooner.
And to the poster who claims he jumped in, could care less about research and then revealed every situation is a Win Win.
I find that to be a bs story.
Every business takes losses. Not everything you do will be a success. Businesses that learn from their mistakes move on.
Microsoft has had losses. Trump has had losses. Oracle has had losses. Walmart has had losses. While the overall business might not be at a loss, there are products or services that just haven't done what expected.
People who claim everything they do is a win win usually are the same people trying to scam everybody else."
Heather said: "Businesses that are built on fads amaze me the most.
One example was a local guy that opened 3 "Low Carb Stores" at the height
of the Atkin's diet craze. In an article written about the stores, he said something about the locations being wrong and not providing enough traffic, but in the end it ended up being that no one stays on the Atkin's diet. Add the fact that grocery stores added the same items he was specializing in and it was over..
I'm thinking this guy did no research at all before starting this endeavor."
trickynick said: "[QUOTE=Heather]Businesses that are built on fads amaze me the most.
One example was a local guy that opened 3 "Low Carb Stores" at the height
of the Atkin's diet craze. In an article written about the stores, he said something about the locations being wrong and not providing enough traffic, but in the end it ended up being that no one stays on the Atkin's diet. Add the fact that grocery stores added the same items he was specializing in and it was over..
I'm thinking this guy did no research at all before starting this endeavor.[/QUOTE]
Atkins may have been enough to slow down the growth of Krispy Creme but supporting a chain of specialty grocery stores seems like a little bit of a stretch."
Darren said: "Yes it did. Bigger problem was how the rat abandoned his sinking ship. He went ahead and SOLD his crappy idea to others in the form of franchises.
Franchises are a personal pet peeve of mine because most are so fraudulent."
natser said: "Hey chahinemm
Is it easy to start up a business in France? Does the goverment close watch your business or not?"