DocumentCode :
1032939
Title :
Dreams of business ownership tested
Author :
Watson, Jim
Author_Institution :
Dept. of Electr. Eng., Purdue Univ., West Lafayette, IN
Volume :
25
Issue :
3
fYear :
2006
Firstpage :
8
Lastpage :
9
Abstract :
In this paper, it describes the dreams of business ownership. Owning a business is not for every one. A careful study should be completed before making the major decision to start a business. In addition to the review of technical knowledge and skills, potential business owners should also review the marketplace, existing competition, and personal attitudes and skills. This article demonstrates that business decisions must be made in addition to the selection of a product or service on which to base a new venture. By working for a successful business, business and business experience can be expanded by observing and asking questions of various department personnel. This is also a great way to expand the professional networks that will be very helpful if own business is started. Start small and keep the day job until how the ideas are received by potential customers. Rent tools and use a basement or garage for the first factory and warehouse. Keep initial investment as small as possible. Hire expertise on a part-time or short-term contract basis. Then, if all goes well, then the own business can expended at a successful rate
Keywords :
business communication; decision making; investment; market opportunities; multiskilling; personnel; professional communication; business ownership; decision making; initial investment; marketplace; personal attitudes; personnels; product competition; professional networks; technical knowledge; technical skills; Companies; Financial management; Law; Legal factors; Marketing and sales; Personnel; Protection; Teamwork; Testing;
fLanguage :
English
Journal_Title :
Potentials, IEEE
Publisher :
ieee
ISSN :
0278-6648
Type :
jour
DOI :
10.1109/MP.2006.1657745
Filename :
1657745
Link To Document :
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