Tuesday, October 17, 2006

Basic thoughts on entrepreneurship

Setting up a company is never an easy thing to do. For one thing, it's not about just providing service or selling products but doing so that brings profits to the company as well. Bringing profits to the company is also not an easy thing for it entails a lot of things. Making sales is not tantamount to profits if other things like costs and expenses are not measured or computed, or liabilities are not looked at side by side assets.

In business, not everything is about finance but also taking time to "measure" non-financial matters such as labor, customer acquisition and retention, lead costs, depreciation, cost of getting and retaining manpower, etc.

A lot has been said about the major shift from being employed where one simply focuses on providing service to the customer(to the employer) at a specified period of time. But the moment one moves from being employed to having a business to run, he then takes bigger roles and responsibilities.

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