Novice Entrepreneures-A long road ahead....

Discussion in 'Growing and Managing a Business' started by deepak_sharma, Sep 8, 2008.

  1. deepak_sharma

    deepak_sharma
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    How many of you think that its difficult for novice entrepreneurs to start a new business as they don't have earlier knowledge of running a business. Also what are the advantages and disadvantages habitual entrepreneur get over novice entrepreneurs...
     
  2. Nazreen

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    I would think that a habitual and seasoned entrepreneur's advantage over a novice would be his experience and knowledge in the business. However, I think that a novice is more open-minded because of his lack of experience and so he still doesn't know what works and what doesn't.
     
  3. Fergal

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    Everyone has to start somewhere and although you can get great experience from working for others, you will only truly understand what it means to run your own business when you do it yourself.

    Serial entrepreneurs will have built up a wealth of experience and have learned from their previous mistakes. This will allow them to avoid mistakes that will be made by the first timer. One advantage that the first timer can sometimes have is great enthusiasm. The first timer will also sometimes be more innovative and more prepared to try something new and risky that they are passionate about. The seasoned business person may be more practical and focused on the numbers, hence less inclined to launch a risky venture.
     
  4. deepak_sharma

    deepak_sharma
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    Well i completely agree with Narzeen on the note that novice entrepreneurare more open minded to take decision rather than habitual who are more into taking measured steps for their business....
     
  5. Nazreen

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    This is like the saying: "It's impossible to teach an old dog new tricks". It's not completely true but it's not far from the truth either. Seasoned entrepreneur's can still learn new tricks but not as quickly as when they were still a novice. Since the seasoned one will probably use a method that he has been using effectively for many years, he would be reluctant to try other methods. But I believe that with time and patience, and with a lot of persuading, an old dog can learn new tricks.
     
  6. descorpio

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    I would say that nothing is impossible in this world. Everybody would have start their first business with no previous experience. But now they could have 100's of business to run for them. So do not worry or afraid of starting a business. And be very calculative and do not take weird risks. but taking risks are an important factor to gain success.
     
  7. SandraVMG

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    I would not say it is difficult for a novice to start a business if he has the determination to succeed and not shirk hard work. Today, with advancements in technology, he has various chat services, advice forums etc to help him in his venture
     
  8. Nazreen

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    Chat services and forums really help and it's not just for those starting a new business venture but also those that are experiencing difficulties. The businessman, however, shouldn't just take their word for it but must also do his own work and research. Relying solely on the word or advice of others is not a good business policy. Still, the many advices given might prove to be helpful and it doesn't hurt to double check on it because who is the one who stands to benefit the most but you - the business owner.
     
  9. jigyasa

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    Novice entrepreneurs starting a new business venture are more open to calculated risks and roads "usually not taken". They tend to be novel in ideas as well as action. Experience comes with work, but novelty is a virtue that seasoned businessmen tend to loose.
     
  10. Evaak

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    Re:

    Yes,
    I agree with you. Now a days real estate investment is the best option then any other kind of investment. I would like to tell you that when my friend had invested in real estate he was also not sure of the profits there but he recently had his real estate deals from IRA-401K
    and he was quite pleased with his investing. There are many things that you can look up in investing in real estate and I think that it will be profitable for you too.
     
  11. Felix07Richerd

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    I totally agree. I think this is very good option for invest. this is only field has no risk. I have invested in real estate. I invested in ottawa property.
     
  12. Krisz Rokk

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    Skills are learnable and knowledge can be acquired. 'Senior' entrepreneurs already did several mistakes and thus gained a lot of experience. On the other hand novice entrepreneurs are more open to new ideas, to trying out different strategies and ways, more flexible. It's a process where you learn on an ongoing basis. First of all action is required along with strong determination, consistency and persistency. Make mistakes, learn from your mistakes and train to have the mindset and attitude of staying 'on board' when the going gets tough.
     

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