Entrepreneurial strategies
November 4th, 2005 by 
Administrator
When you plan to go into business on your own, there are 2 things that you need to be clear about, and Entrepreneurial Mind just made an excellent post on both:
a.) First, is that do you use your own money or other people’s money.
b.) Second, whether you want to go it alone, or find partners.
I guess how you go about it depends not only what you plan to accomplish, but also on which industry and market you are.
In the United States, and especially in the technology industry, where the market is big, and the winning technology or company gets a large share of the market and momentum, it is important that you try to get venture capital and the best partners because if you don’t, you cannot be ahead in the race. Get the best people, and lots of capital, try to impress the market, knowing that you have partners and financiers with high expectations of return, but knowing that if you succeed, there is going to be a lot for everybody to share.
In many parts of Asia, the entrepreneur, especially in niche or industries with smaller markets, may want to use his own money, and do it himself. In many place here, you see that when an entrepreneur finds an opportunity, he keeps mum about it, and silently goes to work to build it secretly, and does not tell people his plans.
The main thing is he perceives the market to be not big, and therefore would not want competitors to work against, nor partners to share the bounty which might not be much. Or he simply wants to be his own boss, and not be beholden to anybody.
Basically, whatever you choose to do depends on what you want to be or want to accomplish — and happily you have a choice. If you want to have a $5 million, you can get it by either being a 100% owner of your own $ 5 million business or a 10% owner of a $50 million business.
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Posted in Entrepreneurship | 
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