The other evening a business radio show had on a banker who was saying how many loans his institution provides to entrepreneurs. He said that the bad debt percentage was about 3.8%, adding that entrepreneurs manage their money carefully and pay back their loans. If they run into trouble, the entrepreneur would sit down with his or her banker and work out a repayment plan. Continue reading “Is a banker really your start-up friend?”
How many steps does it take to become an entrepreneur?
One man dreamed to be an entrepreneur. He attended a college, studied electronics and telecommunications engineering. At the age of 21 he took his first entrepreneurial plunge.
He started developing a liquid level controller to automate water pumping motors for residential apartments. Despite “slogging for 18 hours a day” and an early encouraging performance, his first venture could not take off. Mistakes he made early on turned out to be very costly and the business had to close.
This entrepreneur reckons that lack of analysis resulted in flawed plans and no contingency plans. He also lacked experience in various activities such as design, manufacturing, sales, finance. Because of this the result was several wrong decisions and with very little capital, the mistakes were “irreparable”. Continue reading “How many steps does it take to become an entrepreneur?”
