GENI

USHUB

GeniusHubi sagroupofintel
l
ectual
swhof ocusonenhanci ngacademics
excell
encethroughstudyi
ngwithdif
ferentindivi
dual
soflikemi ndsin
generalcour
sesandal soDepart
ment alcourses.Goodleadershipski
lli
s
alsoourmajorprior
it
yaswef ocusonr aisi
ngl eader
sequippedwi t
hcore
l
eadershipskil
ls.

VI
SION
Devel
opmentofment
alski
ll
sint
ermsofacademi
cexcel
lenceand
goodmoral
s.

Buil
dingeverymembertobeagoodambassadorofchangei
nter
ms
ofacademicexcel
lenceandgoodmoral
sint
heirvar
ious
department,
TASUEDandt heworl
datLar
ge.

Appli
cati
onofbasicspi
ri
tualpr
inci
plesi
nact
ivat
ingacademi
c
excel
lenceandgoodmor al
s.

FORMOREPDFANDUPDATEDONLI NE
CLASSONALLGENERALCOURSE, KINDLY
JOINOURWHATSAPPGROUP.
.Simpl
yCont
act:
Gospel(
08130781386)
Gr
oupMedal
ist
:Mat
thew
(
08116261985)
ENTREPRENEURSHI
PANDBUSI
NESSMANAGEMENT(
ENT221)

CONCEPTSOFENTREPRENEURSHI
P

Manypeopl
ecert
ainl
yhav
ethemi
ndsetofst
art
ingupabusi
ness,
butt
hef
oll
owi
ngquest
ions
usual
l
ycomingup.

1.HowdoIst
artt
hebusi
ness

2.HowdoIr
unt
hebusi
ness

3.HowdoIr
unt
hebusi
nesssuccessf
ull
y.

Entr
epreneur
shi
pist
her
efor
edef
inedast
heest
abl
i
shmentandmanagementofsmal
l
busi
ness.

Thewordent
repr
eneurwasf
ir
stusedbyaFr
enchmanknownasRi
char
dCant
il
loni
n18t
h
cent
ury
.

Anent
repr
eneurcanei
therbei
nnov
ati
veori
mit
ati
ve.

I
nnov
ati
vei
nthesenset
hatheest
abl
i
shadmanageabusi
nessNev
edonebef
ore.

I
mit
ati
vei
nthesenset
hatheest
abl
i
shabusi
nesswhi
chi
sal
readyi
nexi
stence

▶ Ty
pesofEnt
repr
eneur
shi
p

1 Mat
eri
alEnt
repr
eneur
ship:
thi
sinvol
vesPhysi
cali
temsthatcanbeseenandt
ouched
al
soknownasgoods.egcars,
cassava,
Machiner
y,bui
l
dings.

2 Ser
viceEnt
repr
eneur
shi
p:t
hisi
nvol
vesr
ender
ingofser
vice.
t
hanke.
gmachani
c

▶ Char
act
eri
sti
csofSuccessf
ulEnt
repr
eneur
shi
p

1.Cr
eat
ivi
ty

2.I
nnov
ati
on

3.Mot
ivat
ion

4.Goodl
eader
shi
p

5.Pr
obl
em i
dent
if
icat
ionandsol
vi
ngski
l
ls

6.Sel
f-
conf
idence

7.Ri
skt
aki
ng

8.Deci
sionmaki
ngabi
l
ity

9.I
ntegr
it
y

10.Humanr
elat
ionshi
p.

▶ Ent
repr
eneur
shi
pPr
ocess

1 Mot
ivat
ionst
age:
.t
hiswhenaper
soni
shav
ingt
hezeal
tost
artabusi
ness.

2 Deci
sionst
age:
whenoneagr
eest
ost
artt
hebusi
ness

3 Vi
sionst
age:
thi
swhendet
ermi
newher
eyouwantt
obeorwhaty
ourbusi
nesswi
l
l
become.

4 Mi
ssi
onst
age:
thi
sdet
ermi
ningwhatdot
oinor
dert
oachi
evey
ourgoal
s.

5 Resourcesmobili
sat
ion:
thi
swhenneededr
esour
cesar
egat
her
edf
ort
hepur
poseof
st
art
ingthebusiness.

6 St
art
ingst
age:
theent
repr
eneurst
art
sthebusi
ness.

7 Runni
ngst
age:
thi
sisaf
ull
runni
ngoft
hebusi
ness.

▶ Reasonsf
orbecomi
nganent
repr
eneur
1.Tobecomeanempl
oyerofl
abor

2.Toshowcaset
alentandi
nit
iat
ive

3.Forr
aisi
ngst
andar
dofl
i
ving

4.Togai
npoweri
nfi
eldofchoi
ce

5.Sear
chf
orj
obsecur
it
y.

▶ I
mpor
tanceofEnt
repr
eneur
shi
p

1.I
tser
vesasameansofl
i
vel
i
hood.

2.I
tkeepsi
ndi
vi
dual
busy

3.I
treducesunempl
oyment

4.I
tser
veshel
pscount
ri
est
ohav
efor
eignexchanger
eser
ve

5.I
thel
pst
oreducer
ural
/ur
banmi
grat
ion.

6.I
tfor
msapr
act
ical
trai
ninggr
oundf
orempl
oyees.

▶ Di
scour
agementf
act
orsi
nent
repr
eneur

1.Fearoff
ail
ure

2.I
ncome

3.Longhour
sofwor
k

4.Lackofbasi
cinf
rast
ruct
ure

5.Lackofexper
ti
se.

▶ CommonPr
obl
emsofent
repr
eneur
shi
p

1.I
nadequat
epl
anni
ng

2.Pr
oductpr
obl
ems

3.Mar
ket
ingpr
obl
ems

4.Lackoff
und
5.Poorhumanr
esour
cesmanagement

6.Poorl
ocat
ionofbusi
ness.

.
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..
..

UTTI

I ENTREPRENEURSHI
P(ENT221)

TYPESANDNATUREOFBUSI
NESS

Businesscansimplybedef
inedastheorganizedeff
ortbyindi
vidual
sorcompani
esto
pr
oducegoods,servi
ces,
ori
dea;t
oexchanget hesegoods,servi
cesandideaswi
thr
elev
ant
marketofi
nter
est;
andtogetsomereward.

SmallBusi
nessfir
m: i
tisanindependentbusiness,whi
chi
smanagedbyi
tsowner
,andwhi
ch
hasasmallmarketshare.
(employeesnotgreaterthan50)

Ty
pesofBusi
nessOr
gani
zat
ion(
6)

1 SOLEPROPRI
ETORSHI
P:t
hisi
sabusi
nesst
hati
sownedandmanagedbyasi
ngl
e
per
son

◾ Adv
ant
ages

1.Thepr
opr
iet
ort
akesal
lthepr
ofi
tsoft
hebusi
ness

2.Pr
ivacy

3.Requi
resl
i
ttl
ecapi
tal
tost
art
.

4.Easi
ert
omanage.

◾ Di
sadv
ant
ages

1.Lackofcont
inui
ty:
thati
sthebusi
nessmi
ghtendi
ftheper
sondi
es.

2.Li
mit
edcapi
tal
3.Pr
opr
iet
orbear
sal
lther
isk

4.Unl
i
mit
edl
i
abi
l
iti
es:
all
li
abi
l
iti
esar
ebei
ngt
racedt
otheassetoft
hepr
opr
iet
or.

2 PARTNERSHI
P:thi
sisabusi
nesst
hati
sownedbyagr
oupofpeopl
ebet
ween2and
20(
above)i
ndi
vi
dual
s.

▶ Ty
peofPar
tner
shi
p(ABC)

A.Gener
alPar
tner
shi
p:t
hist
ypeofPar
tner
shi
pisi
nfor
mal
andeasi
ert
oest
abl
i
sh.

◾ Char
act
eri
sti
csofGener
alPar
tner
shi
p

1.Per
sonal
li
abi
l
ity

2.Cont
rol
andmanagement

3.Aut
hor
it
y

4.Owner
sandpr
ofi
t

5.Exi
stence.

B.Limit
edpar
tnershi
p:i
sty
peofPart
ner
shipwher
ebyther
ightoftheofpar
tner
sar
eli
mit
ed,
theydon'
thav
erighttopar
takei
nthemanagementoft
hei
rbusiness.

e.
gReal
est
atebusi
ness.

◾ Char
act
eri
sti
csofl
i
mit
edpar
tner
shi
p

1.Li
mit
edl
i
abi
l
ity

2.Cont
rol
andmanagement

3.Number
sofowner
s

4.Pr
ofi
tandl
ooses

5.Tax.
C.Unli
mi t
edPart
nershi
p:i
tispart
nershipthati
sregi
ster
edashavingunl
imitedstatus.Thi
s
meanst heli
abi
li
ti
esofthepart
nersofthebusinessarenotl
imi
tedtotheresourcescontri
but
ed
bythepartner
sbut,ext
endtothebusinessofunli
mitedpart
ner
s.

➡ Adv
ant
agesofPar
tner
shi
p

1.Easyt
oest
abl
i
sh

2.Easyt
orun

3.Easyaccesst
ocapi
tal
asi
tcaneasi
l
yrai
sef
unds

4.Enabl
esuseofbet
terski
l
lsasdi
ff
erentpar
tner
scont
ri
but
edi
ff
erentski
l
ls.

➡ Di
sadv
ant
ageofPar
tner
shi
p

1.Acti
onsar
enotasf
astasi
nthecaseofsol
epr
opr
iet
orshi
pbecauseev
ery
oneneedst
obe
carr
iedal
ong

2.Conf
li
ctofi
nter
estorper
sonal
i
tyi
spossi
ble.

3.Pr
ofi
tar
eshar
edamongpar
tner
s

4.Rest
ri
ctedt
ransf
erofowner
shi
ptononmember
s.

UTTI

ENTREPRENEURSHI
P(ENT221)

FEASI
BILI
TYSTUDYANDBUSI
NESSMANAGEMENT.

Feasi
bil
it
ystudyisastudyputi
nplacet
odet
ermi
newhet
herornotaproposedbusi
nesscan
bepract
icall
ydone.Thi
sisessent
iali
nor
dert
oavoi
dbusi
nessf
ail
urewhichmayoccurInthe
fut
ure.
I
nconj
unct
ionwi
thf
easi
bil
i
tyst
udyi
sVi
abi
l
ityst
udy
.

Viabi
li
tyst
udy:i
sananassessmentcar
ri
edoutt
oknowwhet
herapr
oposedbusi
nesswi
l
l
survi
veornot
.

Whenchoosi
ngabusi
nesssomebasi
cFact
orsmustbeconsi
der
edsuchas

1 .Sel
forEnt
repr
enuer
sFact
ors

1.Lev
elofi
nter
esti
nthebusi
ness

2.Abi
l
ityt
omanaget
hebusi
ness

3.Abi
l
ityt
opr
ovi
deorsour
cef
orf
inanci
alsuppor
t.

2 Busi
nessFact
ors:

1.Mar
ket
ingsect
ion

2.Resour
cessect
ion

3.Economi
csect
ion

4.Env
ironment
alsect
ion

5.Pr
ofi
tabi
l
itysect
ion.

➡ FEATURESOFFEASI
BILI
TYSTUDY

1 ThePr
oductorser
vice:

Theproductorser
viceaper
sonwant
stopr
oducemustbeamaj
ordemandbyt
hepeopl
eint
he
envi
ronment.

TakeTASUEDforexample,
student
stendt
ochar
get
hei
rphonesbecausesomet
imest
hepubl
i
c
powersuppl
yisnotav
ail
able.

Sosomepeopl
ebenef
itf
rom char
gingBusi
ness.

Buti
nsomeSchool
sthei
ris24hour
sel
ect
ri
cit
ysuppl
yther
efor
ethei
rmi
ghtnotbeneedf
ora
phonechar
gingBusi
ness.

2 Themar
ketsi
zeofPr
oductorser
vice:

Mar
ketSi
ze.

Ev
eryPr
oducthasi
tsmaj
orar
eaofdemand.

Forexampl
emostpeopl
earoundTASUEDarestudent
sandthedemandf
orFoodst
uff
sand
Clot
hesisv
eryhi
ghbecausest
udent
spatr
onizethi
smarketver
ywel
l.

Sopeopl
esel
l
ingf
oodst
uff
sar
eli
kel
ytosel
ldur
ingschool
per
iod.

ButnowthatSCHOOLisonl
ockdown, Icant
ell
y ougar
all
ythatsomeoftheindi
gineint
he
school
envi
ronmentar
epray
ingforst
udentst
or esumebecauset hei
risl
esspat
ronage.

3 TheManagementTeam:

Thesuccessofanybusinessdependsonpr
opermanagement.SomeBusi
nesshasfai
l
eddue
t
olackofpropermanagementteam.Theri
ghtandqaul
if
iedper
sonnel
mustbeinv
olv
edin
managi
ngabusi ness.

4 Themar
ket
ingPl
an:

4 Mar
ket
ingpl
an.

Themedi
um t
hroughwhi
chy
ouwi
l
lmar
kety
ourpr
oducti
sver
ycr
uci
al.

Yourmedi
um mostber
eachabl
etoy
ourcust
omer
.

Andt hat
'swhymanyofuswhoar
edoingbusi
nessInSchoolenv
ironmentmakeuseofthe
dif
ferentschool
groupst
oadv
ert
iseourpr
oduct
s.Becausewehav emoreaudi
enceand
customer.

Takeforinst
anceastudentwhowanttostartsel
l
ingclothei
nI j
agunnowwenttoaradiostat
ion
i
ni gbebatoadver
ti
sehisProductt
hroughRadiostati
on.Isthestudentl
i
kel
ytogetcustomerin
I
jagun?OFCOURSENObecausemostst udentsi
nIjagundon'tl
ist
entoRadi
o.

Adv
ert
isey
ourgoodst
hroughamedi
um t
haty
ouhav
emor
eofy
ourt
argetconsumer
.

4 CashBudget
:
Aproperf
inanci
alanal
ysi
smustbeputi
nplacet
oasser
tai
nthei
ncomeandexpendi
tur
eand
al
sothecapit
alneededtost
artt
hebusi
ness.

Quest
ion:

Whenyouareint
oabusinessandy
oul
aterf
indouty
oumadeawr
ongst
ephowcansomeone
r
etr
acehi
s/herwayback..
..

Response:

Changei
sconst
ant
.

Somet
imest
hepat
ter
nyout
hinki
sri
ghtmi
ghtnotbewor
kingout
.

Sowhatyoudoisdoanevaluat
ionoft
hecauseandwhyt
hepl
ani
snotwor
king.Andf
ind
sol
uti
onsandl
ookforbet
terway .

Anchor:
MrMat
thew

Suppor
tedby
:MrGospel

UTTI

➡ CONTENTANDFORMATOFFEASI
BILI
TYSTUDY

1 Cov erpage:
thi
swul
lcont
aint
het
it
leandnameoft
hebusi
nessl
i
kewi
set
henameoft
he
pr
epar
er.
Thi
sissi
mil
art
oschool
proj
ectcov
erpage.

2 TableofCont
ents:
thi
swil
lcontai
nal
ltheli
stoft
heit
emsofthest
udysot
hatr
eader
scan
l
ocat
ethei
nfor
mati
onwi t
gease.
simil
art
ot abl
econt
enti
nbooks.
3 TermsandPref
erence:i
tthesect
iont
hatshowst
hemai
npur
poseoft
hest
udy
.Suchast
he
mai
nObj
ect
ivesoft
hebusiness.

4 Reportsummary:
thi
sisthesummaryofall
ther
eport
saboutt
hepr
oposedbusi
ness.I
tis
ot
her
wiseknownasexecut
iveormanagementsummary
.

5 Pr oj
ectEval
uati
on:i
tdeal
swi
ththecr
it
ical
exami nat
ionofal
lthekeyar
easoft
hepr
oposed
busi
nesswhichcanaff
ectt
hesur
viv
aloft
hebusiness.

BUSI
NESSPLAN.

ABusinessplanisafor
mal
l
yprepar
eddocumentsshowi
ngthedetai
l
soft
he
i
ndent
it
y,Vi
sion,
missi
onamdthepr
oposedact
ionsofabusi
ness.

Thi
scouldalsocoverthenameoft
hebusi
nessandal
sot
hei
rfeat
uresl
i
keaddr
ess,
backgr
ound
,Hist
ory,ownersetc.

➡ TYPESYOUFBUSI
NESSPLAN
Thi
siscanbedi
vi
dedi
ntot
wo.

1 I
nter
nal
Busi
nesspl
an:
Thi
sisabusi
nessplant
hati
susedasagui
deorr
oadmapsf
ort
hest
ruct
uri
ngoft
heoper
ati
on
andmanagementofabusi
ness.

2 Ext
ernal
Busi
nesspl
an:
Thi
sisabusi
nesspl
anthati
spresentedt
oexter
nal
bodiessuchasINVESTORSandal
so
Fi
nanci
ali
nst
it
uti
onl
ikebanksandalsocust
omers,employ
eesetc.

I
MPl
ORTANCEOFBUSI
NESSPLAN
1.Togui
det
heEnt
repr
eneuri
nthest
art
ingofabusi
ness.
2.Togui
deManagementf
unct
ionAct
ivi
ti
es
3.Toenhancef
undsf
ort
hebusi
nessf
rom i
nvest
orsandf
inanci
ali
nst
it
uti
ons.
4.Foreasycr
edi
tpur
chaseofmat
eri
alsf
rom suppl
i
er.
5.Toat
tractcl
i
ent
sansCust
omer
s.
6.Toat
tracthi
ghl
yski
l
ledper
sonnel
.
7.Tohel
pinachei
vi
ngBusi
nessobj
ect
ives.
8.Tohel
pinev
aluat
ionoft
hebusi
ness.

Busi
nessPl
anUser
sandI
nfor
mat
ion
1.PLANNER:
ever
yEnt
repr
enuerneedsani
nfor
mat
iononhowt
ooper
atet
hebusi
ness.

2.I
NVESTORS:
inf
ormat
ioni
sneededont
hepr
ofi
tabi
l
ityoft
hebusi
nessandr
etur
non
I
nvest
ment.

3.Fi
nanci
ers/
Lender
s:i
nfor
mat
ioni
sneededonhowcapabl
ethebusi
nessi
stopaydebt
s.

4.Cust
omers:
inf
ormat
ioni
sneededt
oknowi
fthebusi
nesscanMeett
hedemandof
cust
omers.

5.Suppl
i
ers:
inf
ormat
ioni
sneededont
heabi
l
ityoft
hebusi
nesst
oaccessr
awmat
eri
als.

6.Empl
oyees:
inf
ormat
ioni
sneededont
heabi
l
ityoft
hebusi
nesst
osust
ainempl
oyees.

Thanky
ou

➡ BUSI
NESSPLANWRI
TINGANDARRANGEMENTS:

Ever
yBusinessplanmustbewellwr
it
tenandar
rangeasthi
swil
lgoalongwayi
nat
tract
ing
i
nvestor
stoy ourbusi
nessandal
sodeter
minet
hesuccessofy
ourbusiness
BUSI
NESSPl
anWr
it
ingandAr
rangement
.
Busi
nesspl
anneedst
obewel
lwr
it
tenandar
ranged.
Thef
oll
owi
ngar
esomeoft
hef
ormat
.

➡ Ar
rangement
sofBusi
nesspl
an

1 Cov
erpage:

t
hisshowst
het
it
lepl
an,
names,
andaddr
essoft
hebusi
ness.

2 Tabl
eofcont
ent
:
Thisshowst
hel
i
stofal
li
temsi
nthepl
andocument
sandal
sot
hwpageswher
etheycanbe
found.

3 Pur
pose:
Thesear
eit
em ofr
efer
enceorobj
ect
ivesoft
hepl
an.

4 Execut
ivesummar
y:
Thi
sisasummar
yofal
lthebusi
nesspl
an.i
tusual
l
yhav
eli
mit
edpages.

5 Busi
nesspr
ofi
l
e:
Thi
scont
ainst
hef
oll
owi
ngi
nfor
mat
ionaboutt
hebusi
ness:
Vi
sion,
missi
on,History
,Fi
nanci
alr
esul
tSummar
y,Regi
str
ati
ondet
ail
s,
Product
sandser
vice,
Managementteam etc.

6 Fi
nanci
alpl
an:
Thi
sincl
ude
Sour
ceoff
inance
I
nvest
ors
Fi
nanci
alpr
oject
ionset
c
[
6/14,
20:
21]Gospel ✍:
5 Busi
nesspr
ofi
l
e:

Thi
scont
ainst
hef
oll
owi
ngi
nfor
mat
ionaboutt
hebusi
ness:
Vi
sion,
missi
on,History
,Fi
nanci
alr
esul
tSummar
y,Regi
str
ati
ondet
ail
s,
Product
sandser
vice,
Managementteam etc.

6 Fi
nanci
alpl
an:
Thi
sincl
ude
Sour
ceoff
inance
I
nvest
ors
Fi
nanci
alpr
oject
ionset
c

Resear
chandDev
elopmentpl
an:
Thi
sincl
udest
hev
ari
ousr
esear
chcar
ri
edoutsuchas.

Compet
it
iver
esear
ch.

I
ndust
ri
alanal
ysi
sresear
ch.

Mar
ket
ingr
esear
ch.

Pr
oduct
ivedev
elopmentr
esear
ch.

Pr
icer
esear
ch.