Business Ventures: Definition, Types, & Starting Your Own
by Andra Picincu
Published on 24 Sep 2018
Ready to start your own business? If so, you're not alone. Approximately 550,000 people in the U.S. become entrepreneurs every month. However, only a few succeed. In fact, more than half of small businesses fail during the first five years. About 30 percent survive for only two years, and 66 percent close their doors within 10 years. While it's true that starting a business venture can be exciting, make sure you know the risks involved. Set realistic goals, come up with a plan and familiarize yourself with the legal aspects.
A business venture aims to fill a gap in the market and has a goal of generating profit.
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Business Ventures at a Glance
Entrepreneurship is one of the most challenging yet rewarding career paths. No matter what your skills are, you can use them to supplement your income and build new streams of revenue. Depending on your niche, you may not even need an office. A staggering 69 percent of entrepreneurs start their business at home.
From launching a creative agency to opening a medical practice, business venture ideas abound. Unfortunately, having a brilliant idea is not enough to succeed. You also need to plan every step of the process and comply with the law.
First, make sure you understand what a business venture is. This type of entity aims to fill a gap in the market. Its goal is to generate profit. The expectation of financial gain is accompanied by the risk of failure.
In general, one or more people invest in this kind of business, hoping to generate revenue as the company grows. The profit will be shared by all investors. If the business fails, they will lose money.
Traditional business ventures are not the same thing as a startup. Even though both terms refer to a new company, startups are expected to grow at a faster pace. Some experts say that this kind of entity should grow by 5 percent to 7 percent per week in its initial stages. Think of it as a growth-based project.
A traditional business venture, by comparison, tends to experience slow, gradual growth. Its goal is to provide a steady income for the founders. This type of company may take months or years to become profitable. Just like a startup, it may choose to remain private or go public after a certain period of growth.
This type of entity is often referred to as a small business. Its founders are typically considered entrepreneurs. But what is the difference between entrepreneurship and business?
An entrepreneur will follow his own path and focus on innovation. He or she will be highly adaptable and flexible, have a growth mindset and take risks. Passion and motivation are paramount in order to succeed. Think of famous entrepreneurs like Walt Disney, Steve Jobs, Bill Gates and Andrew Carnegie.
Businessmen, on the other hand, often walk on a defined path. They undertake an existing business idea and try to improve it rather than coming up with something new. They focus less on innovation and more on generating profit and growing the company. A businessman will try to mitigate risks and use growth strategies that have stood the test of time.
An entrepreneur may become a businessman in the long run. The difference between the two lies in their mindset. A businessman is a market player, while entrepreneurs are market leaders. The latter also have a higher risk tolerance and tend to use unconventional methods to ignite business growth.
Types of Business Ventures
One of the most important aspects of starting a business is to make sure you comply with the law. Whether you're planning to launch an online store, a marketing agency or a legal practice, it's necessary to choose the right business structure. This will determine your legal rights as well as the amount of tax to be paid. The most common business types include:
- Sole proprietorship
- Limited liability company (LLC)
- General partnership
- Limited liability partnership (LLP)
- Limited partnership
- Corporation
A sole proprietorship, for instance, is the easiest to form and operate. Many entrepreneurs start with this option and register an LLC or another type of business later on. The downside is that there's no legal or financial distinction between the business owner and the business itself. This means that you're personally liable for all losses and debts.
Limited Liability Companies are a blend of corporations and sole proprietorships. They involve one or more entities or individuals who sign a business venture agreement or another written agreement, depending on the type of business. This document typically includes management-related provisions, economic rights and distributions, classes of LLC interests, rules on meetings and decision making, fiduciary duties and more.
In case you're wondering, "What is your title if you own an LLC?" you should know that LLC founders are referred to as “members.” The maximum amount of money they can lose from a business venture that fails is the amount they invested. This business structure allows you to limit your personal liability in case something goes wrong.
Another popular option for business ventures is a partnership. In this case, two or more people join forces to build and grow a company. Legal and financial responsibilities fall upon each business owner. Basically, founders share in the profits and losses and are legally responsible for the company's actions.
Starting a Business Venture
In 2016, there were more than 28 million small businesses in the U.S. Forming a company is easier than ever before. All you need to do is follow a few steps to ensure you're compliant with the law. Growing your business is the hardest part.
First, come up with business venture ideas that match your skills and goals. Assess your budget and decide how much you're willing to invest. Create a business venture plan and analyze your financing options. Next, register your business name, get a tax ID from the IRS and apply for any licenses and permits that may be required.
Let's say you're planning to start a web design agency. Are you going to work from home or rent an office? Do you want to hire a team or handle everything on your own? What types of software and computer equipment are necessary? Are you planning to hire an accountant or do your own taxes?
Answer these questions and then try to determine the costs involved. Working remotely, for example, is less expensive than renting an office. If you do your own taxes, you could end up saving hundreds of dollars a year. However, unless you know the law and the tax system, you could make costly mistakes. In this case, it's worth hiring an accountant. Most accountants offer a free initial consultation, so you should consider meeting up with a few and getting several quotes.
Business venture ideas that require a large investment may benefit from additional funding. Connect with angel investors, apply for small business grants, take a small business loan or start a crowdfunding campaign. Figure out whether you need all the money now or just smaller amounts over several months.
Also, consider the cost of marketing materials. Once your web design business is up and running, it's important to promote it. This may involve pay-per-click marketing, search engine optimization, banner ads and offline advertising, including business cards and flyers.
Take these things into account when you write a business plan. This will give you clarity on what you can expect in terms of revenue, expenses and overall performance. Next, choose your business location, decide on a company structure and register a legal entity name. Since you'll be working online as a web designer, you need to register a domain name as well.
The next step is to obtain an employer identification number. This unique identifier is necessary for opening a bank account, hiring employees, paying taxes and applying for business licenses.
Head over to the IRS website and complete the application process. This can be found in the EIN Assistant section. Another option is to download and fill out Form SS-4. Apply for an EIN as soon as you register your business with the state government. Be aware that you must replace or change your EIN if you ever change your business name, address, tax status or management.
Depending on where you live, you may need to obtain a license to start your web design business. Each state has its own rules. Visit your state's website to find out what licenses and permits are needed. You must also get business insurance and open a bank account.
Grow Your Business Venture
Once the above steps are completed, you can start growing your new business venture. How you'll do it depends on several factors, including your budget, industry, short- and long-term goals, legal requirements and more.
For example, if you're selling dietary supplements, you may not claim that your products treat or cure diseases. The label can say that a product supports cardiovascular health but not that it prevents heart disease. In some states, you may need special permits to display advertising signs along street roads and other places.
Make sure you understand the risks and rewards associated with your new business. About 20 percent of new companies fail during the year. Common mistakes, such as not researching the market and setting unrealistic goals, can hold you back.
Statistics show that 23 percent of small businesses fail because they don't have the right team. Another 42 percent are unable to generate revenue because their products and services are not in demand. Approximately 82 percent experience cash flow problems and eventually close their doors.
Set realistic goals for your business venture. No matter how great your idea is, it's unlikely that you'll have success overnight. Trust yourself, but take calculated risks. If necessary, continue your education to expand your skills and deliver better services.
Take the time to analyze the market. The more you know your customers, the better. Check your competitors and see who they are targeting. Also, study their marketing campaigns and product offerings. To be successful, you must stand out from the crowd and do things better or come up with something different. Consider purchasing a product from your competitors and then try to figure out how you could improve it.
Focus on building your brand and reputation. Promote your business venture locally and online. Attend networking events in your city and connect with other entrepreneurs. Team up with industry professionals and find a way to help each other succeed. For example, if you have a small fitness center, join forces with nutritionists, wellness centers or local stores that specialize in gym clothing.
Engage with potential clients on social networks, forums and other online platforms. An HR agency, for instance, has more chances of finding customers on LinkedIn than on Facebook or Instagram.
No matter your niche, work on building your online presence. Encourage customers to leave feedback and rate your products on social media. Set up a website, start a blog and share your knowledge. If you're short on time, outsource these tasks to freelancers or marketing agencies. As your business grows, consider hiring an in-house marketing team to identify prospects and grow your brand.
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What is a Business Venture? With Examples + How to Start
Are you looking to become a business owner ? Have you wondered what a business venture is and how to create one? Do you have a small amount of money and don’t know how to start?
Starting a business may seem intimidating , but it can be incredibly rewarding with the right knowledge and strategy. With a successful business venture , the sky is truly the limit with regard to earning potential.
![essay on business venture Motivations for starting a business](https://www.founderjar.com/wp-content/uploads/2023/02/Motivations-for-starting-a-business.jpeg)
If you’re ready to begin your entrepreneurial journey and start a business, I’m here to provide you with the necessary information and inspiration needed for success .
This blog post will define a business venture and examine some successful examples of what you can sell and how to grow fast. I’ll also provide some advice about how to find a profitable business venture. So read on for all the information you need!
What is a Business Venture?
A business venture is a project or undertaking where entrepreneurs create, organize, and manage their companies. Usually, this involves seeking an opportunity to develop and market a product or service in exchange for money. It can include opening a restaurant or launching a clothing line.
Most business ventures are frequently referred to as small businesses since they usually start with an idea and quite limited finances. They are typically supported by one or more angel investors who have faith in this business concept.
![essay on business venture Amount of Capital needed to start a business](https://www.founderjar.com/wp-content/uploads/2023/02/Amount-of-Capital-needed-to-start-a-business.jpeg)
Any new business venture often starts from an existing gap in the market . It could be a demand for a product that consumers require or simply because of the lack of services available to them. No matter what business you are launching, you must have an idea to provide customers with a specific value.
How to Find a Profitable Business Venture
When looking for a business venture, it is important to look for an opportunity you can capitalize on . Your venture should have the potential to create a profit within a reasonable amount of time to stay in business.
![essay on business venture Survival rates for small Businesses](https://www.founderjar.com/wp-content/uploads/2023/02/Survival-rates-for-small-Businesses.jpeg)
There are many different business ideas to make money ! However, to make a better choice, answer the following three questions:
Question 1: Can I craft a convincing offer that people happily pay money for?
The first question to ask yourself when considering creating a successful small business venture is whether you can craft an offer that people will be willing to pay for . You need to provide something of value, a good business idea that customers feel they need, want, and are happy to pay for.
Think about what kind of product or service your potential customers would benefit from. The key is to make sure the offer solves a problem or fills people’s needs and provides them with something they would be willing to pay for.
So, priority number one is straightforward – identify what your potential customers desire and provide them with exactly that. Additionally, make sure you’re appropriately targeting the right individuals at a time when they will be most inclined to purchase.
Question 2: Can I systematically attract leads at low costs?
Once you’ve identified a great product or service, the next step is to focus on attracting potential customers . When it comes to marketing, it’s quite important to focus your efforts on tactics that will cost you as little money as possible.
It could mean taking advantage of organic social media posts, creating content (such as blog posts or videos) that can be shared and liked, or setting up partnerships with influencers who already have a significant and loyal following.
![essay on business venture Traffic Sources](https://www.founderjar.com/wp-content/uploads/2023/02/Traffic-Sources.jpeg)
One of the most cost-effective strategies for attracting leads is email marketing . Email newsletters are an excellent way to reach out to potential customers and ensure that your offer is always in front of them.
You can also create targeted ads on different social media platforms such as Facebook, Twitter, and LinkedIn to reach out to people likely interested in your services or products. Ad campaigns like this can be especially useful if you want to sell products and services quicker and without much hassle.
It’s also worth considering offering a discount or giveaway to customers to entice them to make a purchase.
Question 3: Can I convert those leads into customers with relatively low CAC relative to CLV?
It’s not enough to attract leads – the key is to convert them into customers. It means that your offer must be compelling and attractive enough for potential customers to actually purchase it.
To ensure you’re getting a good return on investment, focus on calculating your customer acquisition cost (CAC) relative to your customer lifetime value (CLV) . The CAC is how much you spend to acquire a customer, while the CLV considers all revenue generated from that customer over time.
![essay on business venture Customer acquisition cost](https://www.founderjar.com/wp-content/uploads/2023/02/Customer-acquisition-cost.jpeg)
To discover your CAC , divide your marketing costs by the number of customers acquired in a given period.
![essay on business venture Custome Lifetime Value](https://www.founderjar.com/wp-content/uploads/2023/02/Custome-Lifetime-Value.jpeg)
The CLV is calculated by taking the average purchase value multiplied by the number of purchases made over a given time frame.
All businesses should strive for a CLV to CAC ratio of 3:1 for each marketing segment. If you spend too generously (for example, 1:1), it can be unprofitable as customers won't cover the cost of acquisition. On the other hand, if you under-invest in customer acquisition and set your bid cap low, then it could mean missing out on profitable customers who have an above-average cost per acquisition.
By taking the time to answer these three key questions, you will be able to determine whether your venture has the potential to create a profitable and sustainable business. The key is to make sure that you are providing something of value that customers feel they need, want, and are happy to pay for!
23 Profitable Business Venture Examples to Inspire You
If you’re looking for some inspiration and ideas, here are 23 profitable business ventures you can consider:
- Bird Tricks – Bird Tricks is an online business that specializes in providing online pet bird training classes. They use various marketing channels, such as YouTube and Instagram, to attract customers.
- Learning Herbs – Learning Herbs is an online herbalism education business. They earn financial gain via classes, webinars, and digital products to help people learn about herbs and their uses.
- Management Consulted – A great enterprise that provides management consulting to organizations, as well as individual and group training sessions. They attract customers using webinars, blog posts, and social media campaigns.
- Bonsai Empire – A community-based business that specializes in bonsai trees and care for them. They achieve profits through digital products, such as e-books, videos, and tutorials.
- The Online Dog Trainer – This business venture is based on providing online dog training services. They use YouTube advertising and targeted marketing campaigns to attract customers.
- Make a Living Writing – A practical venture that focuses on helping you become a successful freelance writer. They generate profits through digital products such as e-books and online courses.
- Goins, Writer – Need some inspiration? Goins, Writer, is a great business venture that focuses on helping people become successful writers. They use social media and blogging to reach out to the audience and profit from selling e-books, workshops, and courses.
- How to Program with Java – A highly successful business enterprise that specializes in teaching Java programming. They attract potential customers with YouTube video tutorials and online courses.
- Donald Robertson – Want to learn how to apply ancient philosophy to everyday life? This business venture is perfect for you. It provides online courses and sells books on Philosophy.
- Study Hacks – This start-up enterprise helps students become more productive and efficient in their studies. They use blogging and Youtube to reach out to the audience while generating profits through digital products such as e-books and courses.
- TaskRabbit – A great business venture that connects customers with skilled taskers who can take care of any task. They promote via Google Ads and generate profits through commission on each job completed via the website or app.
- Wealthy Affiliate – Ready to create a flourishing digital business centered around your passions and hobbies? Look no further than this all-inclusive platform, designed to help you reach success with ease! They generate profits through subscriptions and membership.
- AuditionHacker – A business venture designed to help aspiring musicians. They offer online courses and one-on-one coaching, helping musicians improve their performing skills.
- GooseChase – Looking to add something unique to your business? GooseChase is a perfect choice! This venture provides customers with mobile-based scavenger hunts that can be used for different events and settings. They generate profits through commission fees.
- Edx – A great business venture that specializes in online education. They provide online classes and certifications and generate profits through enrollments and subscriptions.
- Skillshare – Another great business venture that specializes in online learning. They use targeted ads and offer an annual subscription to generate profits.
- The Salon Business – This business venture focuses on helping salon owners manage their businesses. They use various marketing tactics, such as webinars and social media campaigns, to attract customers.
- La Vie En Code – Need to learn a programming language? This business venture offers online coding courses, and they generate profits through enrollments.
- Make Fabulous Cakes – Want to make a name in the cake decoration industry? This business venture provides support in online tutorials on cake decoration. They attract their customers through YouTube videos and generate profits through e-books, online courses, and digital products.
- WODprep – A great network that focuses on helping CrossFit athletes become more efficient and effective. Through subscription fees, online courses, and digital products, they are able to generate substantial profits.
- WoodSkills – Want to learn woodworking? This business venture offers online tutorials and e-books on the subject. They generate profits through their online courses and subscriptions.
- The Ultimate Disneyworld Savings Guide – A business venture geared towards helping customers save money when visiting Disneyworld. They use targeted ads and e-books to reach their audience and increase profits.
- Hardcore Music Studio – Looking to learn how to create a professional music studio? This business venture specializes in teaching aspiring producers and musicians the fundamentals of music production. They generate profits through online courses and digital products.
Here are just some of the many profitable business ventures out there. With the right strategy, any venture can become successful! The key is to identify your target audience, understand their needs, and develop a product or service that meets those needs!
Business Venture vs Startup
![essay on business venture Stratup Company](https://www.founderjar.com/wp-content/uploads/2023/02/Stratup-Company.jpeg)
Small businesses and startups have a lot of commonalities , but there are also some key differences between them. Small business ventures typically involve one or two people taking risks to generate income from an idea or product. This type of venture usually requires less capital investment , and the goal is often to create a steady stream of revenue that can sustain the business.
On the other hand, startups are typically larger undertakings involving a team of people and more substantial capital investment . The goal of a startup is to create something new or disruptive that will quickly scale up to generate large profits. Startups tend to focus on growth rather than stability and often exploit technology to reach their goals.
Another key difference between small business ventures and startups is the level of risk involved. Small businesses tend to involve less risk , as there is typically less capital investment and a steady revenue stream.
Startups , however, involve much more risk due to their focus on rapid growth and disruptive technology. As a result, the potential rewards from successful startups can be much higher than those of small business ventures. Still, the risk of failure is also greater.
Finally, small businesses and startups take different marketing approaches. Small business owners typically focus on established tactics such as direct mail, print advertising, and word-of-mouth referrals .
Startups often rely more heavily on digital marketing methods such as search engine optimization, social media marketing, and content marketing.
Overall, small business ventures and startups have different goals and approaches regarding risk, capital investment, and marketing. While both types of businesses can be successful, understanding their differences is key to setting realistic expectations for success.
Bottom Line
A business venture is a great way to start and grow a successful business. However, creating a new company requires writing a careful business plan , understanding the target audience , and developing services or products that meet their particular purpose.
Having an idea of which type of venture is right for you, be it a business venture or a startup, can help you make the proper decision and maximize your chances of success.
Consider the amount of risk you’re willing to take on and how quickly you want to make money. With the right strategy, any venture can be successful! Good luck!
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Anastasia belyh.
Anastasia has been a professional blogger and researcher since 2014. She loves to perform in-depth software reviews to help software buyers make informed decisions when choosing project management software, CRM tools, website builders, and everything around growing a startup business.
Anastasia worked in management consulting and tech startups, so she has lots of experience in helping professionals choosing the right business software.
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Stanford Online
What is entrepreneurship.
![essay on business venture Entrepreneur african woman](https://online.stanford.edu/sites/default/files/inline-images/entrepreneur-african-woman.jpg)
What does “entrepreneurship” make you think of? Innovation? Business savvy? Perseverance?
Here, we’ll help you learn more about what entrepreneurship is, the different forms it can take, and the various challenges that many entrepreneurs face.
To develop a more comprehensive understanding of what it takes to become an entrepreneur, consider enrolling in Stanford’s Entrepreneurial Leadership Program .
At its most basic level, entrepreneurship refers to an individual or a small group of partners who strike out on an original path to create a new business. An aspiring entrepreneur actively seeks a particular business venture and it is the entrepreneur who assumes the greatest amount of risk associated with the project. As such, this person also stands to benefit most if the project is a success.
Entrepreneurial pursuits often involve innovation. Large enterprises may seek to emulate this element by cultivating what’s known as “intrapreneurship.” Employees are encouraged to think like entrepreneurs, cultivating an original perspective that may result in a new idea for the company. These workers may be given extra latitude, but the enterprise still holds authority over the project and absorbs any risk associated with it. Entrepreneurs benefit every sector, from large corporations to small businesses.
What industries do small business entrepreneurs work in?
A recent small business owner survey from Guidant Financial found that the top three industries for small business startups are:
- Food and restaurant operations
- Business services
Other leading industries included health and fitness, finance, insurance, and law. No matter what type of venture a small business entrepreneur is involved in, it’s vital that they prioritize innovation and perseverance.
Characteristics of an entrepreneur
The entrepreneurial mindset combines several different skills that require careful development for the successful achievement of a business idea. For example, an entrepreneur must be able to balance an understanding of how business works — including from a financial and operational perspective — with a drive for innovation. Entrepreneurship means understanding when you have an opening in the marketplace that no other provider is meeting and having the business sense to know how to go after this new opportunity at the right time.
A successful entrepreneur will possess many abilities and characteristics, including the ability to be:
- Flexible and adaptable
- Passionate
- Willing to learn
- A visionary
Entrepreneurial drive stems from qualities like these, just as an entrepreneur's ability to succeed will depend on developing these abilities.
What types of entrepreneurs are there?
From social entrepreneurship to scalable startup entrepreneurship to intrapreneurs, there is no limit to the kinds of entrepreneurs currently operating within businesses.
An intrapreneur may be considered a type of entrepreneur, though this individual will likely have a bit less freedom and much lower financial risk than an entrepreneur who is truly embarking on a new, independent journey. While intrapreneurs may need to manage expectations and budgets provided by their sponsoring organization, they don’t have the same concerns as independent entrepreneurs when it comes to investor relations, venture capital, and overall business management.
Entrepreneurs may also be motivated primarily by their desire to make a positive impact on the world by creating a new business. This type of leader is known as a social entrepreneur. They see a problem facing their communities, or the world at large, and they strive to create and implement new solutions that drive change.
Another important distinction among the different entrepreneurial categories is the scale of the entrepreneur’s ambition: Are they trying to launch a small business or to create a growth-oriented startup?
What is the difference between a startup and a small business?
The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand and expect to grow the business. The vision for the business is usually different from a small business owner’s.
For example, a food service worker who’s interested in entrepreneurship might choose to go into business for themselves, opening up a new restaurant. Eventually, this venture may succeed and grow to the point where opening up a second location or franchising the brand could be viable options. However, this does not necessarily mean that the restaurant is a startup, especially if the founder’s initial goal wasn’t to significantly expand the business.
A better example of a startup entrepreneur might be a food service worker who has an original idea about how to transform restaurant operations on a larger scale. This person might be interested in creating a new technological solution, reimagining distribution and logistics, or something else. The key difference here is that the startup is small in the beginning, but its success relies on using an innovative idea to respond to a large-scale opportunity. Right away, many startups, companies that are just beginning operations, have big ambitions.
From idea to startup
To visualize the journey of a startup entrepreneur, consider Kevin Plank’s story . As the founder of Under Armour his company, which is now known for its moisture-wicking clothing, a revolutionary idea at the time, took Plank into about $40,000 of credit card debt . His idea didn’t catch on until he made his first sale to Georgia Tech and the appeal of his product took off.
Plank’s entrepreneurial spirit took an idea based on the dryness of his compression shorts and turned it into a highly visible and wildly popular company through persistence, vision, motivation, and a determined sales strategy.
Obstacles to successful entrepreneurship
A smart venture and the right opportunity don’t guarantee success in the world of entrepreneurship. A rising entrepreneur may face many hurdles on the road to founding a business.
Recent research from the Ewing Marion Kauffman Foundation reported that the leading concern among “aspiring entrepreneurs” was difficulty acquiring funds to launch or expand the organization. Finding the proper mentorship was another major obstacle.
Speaking in a recent webinar, our faculty and guests explored similar topics as they described common mistakes and pitfalls that startups face, from assessing the competitive landscape to figuring out how to scale.
If you’re looking for ways to turn your innovative idea into a successful business, our experts and educators can help. Consider enrolling in the Entrepreneurial Leadership Program today.
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Business Studies Essay On Business Ventures
Current visions about your potential business venture Regina Murphy-Moore Southern New Hampshire University Operating a company is a stimulating, resourceful, and adaptable way to plan one’s opportunity and come to be an entrepreneur. Apart from making a living, it is about building a new way of life. Becoming an entrepreneur takes foresight, determination, and courage. Some of the characteristics to have when becoming an entrepreneur are: Self-confidence, believing in your business venture, focus on your strengths, being a decision maker, and being leader.
Essay Example on About Business Venture
Self-confidence You need to have incredible self-belief. If you lack that crucial element of confidence in your mental character, then going into business is not for you. Believing in yourself is what gives you the self-confidence that you need to be a good entrepreneur. Bear in mind that many successful entrepreneurs started out with nothing or very little, apart from self-esteem and confidence. Believing in your business venture Question yourself whether you openly believe in the business you are starting interested in.
If you find that you are not entirely convinced about it, you need to continue looking until you can pinpoint one that you feel you will be ready to be committed to it. TO be successful in any business venture, you will have to be attentive nearly 24 hours a day. You will have to continuously shaping it, modifying it, and designing it. Focus on your strengths People have their own strengths, as well as weaknesses. In order to be an efficient entrepreneur, you will want to identify your strengths and concentrate on them.
![essay on business venture essay on business venture](https://paperap.com/wp-content/themes/theme/top_writers/new-writers/Marrie pro writer.png)
Proficient in: Communication
“ She followed all my directions. It was really easy to contact her and respond very fast as well. ”
You will be able to attain further achievement by outing your strives into the fields of your importance. For instance, if you have human management skills as a strength, you would need to control the know-how, and initiating complete use of it in the business. Being a decision maker When it is time to hire personnel, speak to shareholders, and request for credits, will have to adopt the responsibility of a leader. If you don’t have the skill to lead, you will not be able to be reliable staff. As the head of your company, the people you hire will look to you for support and guidance.
The ability to give the suitable encouragement and management will be the source of your merit to a great extent. Lessons learned from Jack Ma A new business owner should limit the number of business partners and always keep majority of the business. When he did a joint venture with China Telecoms, which had five board seats, and he had only ;o seats (Fanning, R. , 2009). When he tried to suggest things and would get turned down. When he selected employees he spent time telling them his vision of the company.
This makes the more invested than just being employees. Making a team that has value, innovation, and vision (Fanning, R. , 2009). Not giving up, and always having hope. When selecting a name for his company, he selected a name that meant something for him and that was easy to remember for future consumers. The three reasons why he survived where, he had no money, no technology, and no plan. However, these reasons can also be negatives. When starting a new business venture those things are very important in establishing and succeed in your business.
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Report: Teena’s Business Venture
📄 Words: | 1014 |
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📝 Subject: | |
📑 Pages: | 4 |
✍️ Type: | Essay |
Works Cited
Appendix 1: task 1 calculations, appendix 2: task 3 calculations, appendix 3: task 4 calculations.
The first task included two questions that required calculations (all the calculations are presented in Appendix 1). The first question of the task was to complete the table about the demand and total revenue using the information provided in the case study. Thus, the price of 20AED was inserted into the demand curve equations for coffee and sandwiches. The results are presented in Table 1 below.
Table 1. Demand and revenue at AED20.
Coffee AED20 | 160 | 12,800 |
Sandwiches AED20 | 160 | 12,800 |
The second question was to explain the terms of economic and accounting profit. In order to compute the accounting profit, production (explicit) costs should be deducted from the total revenue (Hargrave). The economic cost was calculated by subtracting both production and opportunity(implicit) costs from the total revenue (Hargrave). The results are presented in Table 2 below.
Table 2. Current accounting and economic profit.
Accounting Profit | 6,400 |
Economic Profit | -1,600 |
The economic profit is always lower than the accounting profit, as it includes the implicit costs (Hargrave). In Teena’s case, she fails to make AED8,000 as a teacher because she dedicates her time to the venture. Thus, the economic cost is lower by AED8,000 than the accounting cost, as the implicit costs are not included in the book.
The second question concerned the concept of normal profit and its applications to Teena’s venture. In order to answer the task’s questions, swift research was conducted using Investopedia as the primary source of information. According to Tuovila, a business makes a normal profit when its explicit and implicit costs are equal to the total revenue. In other words, a firm is making a normal profit when the economic profit is equal to zero. In Teena’s case, her venture would be making a normal profit if her monthly revenues were at the level of AED27,200.
Normal profit serves as an indicator of whether the company should stay on the market or exit. If the economic profit is below the normal profit line, the company should consider exiting the market. However, if a venture makes a normal profit, there is no reason for it to exit the market, as it covers all the essential costs and pays all the salaries and bills.
The third task was to calculate the elasticity of demand if Teena decides to increase the price to AED25 for both sandwiches and coffee. In order to complete the task, per cent changes in price and demand had to be calculated using the demand curve equations. After that, the per cent change in demand was divided by per cent change in price (Kenton). The computations are presented in Appendix 2 of the present report. The values for price elasticity of demand are provided in Table 3 below.
Table 3. Price elasticity of demand.
Price change of coffee from AED20 to AED25 | 0.25 |
Price change of sandwiches from AED20 to AED25 | 1.5 |
The fourth task was to explain the concept of price elasticity of demand to Teena to help her make pricing decisions. The task was completed by conducting brief research using Investopedia.
Price elasticity of demand is a financial metric that demonstrates how the demand changes in comparison with the price change (Kenton). It is computed by dividing the per cent change in demand by per cent change in the price of a product (Kenton). The metric helps to make pricing decisions to maximize profits. Some products can be elastic, which implies that a change in price causes a significant change in demand (Kenton). Price elasticity of demand for these products is above 1, and the higher the number is, the more elastic is the product. If the price elasticity of demand is lower than 1, the products are called inelastic, as the change in price has a minor effect on the demand. Gasoline is a common example of inelastic products, as people are likely to be the same amount of gasoline to fulfil their needs regardless of their price (Kenton). However, it is crucial to understand that price elasticity may change depending on the specific price change.
The calculated values for the elasticity of demand can be sued to make the decision about increasing the prices on coffee and sandwiches. First of all, it should be emphasized that Teena needs to make a change in her pricing policy, as her current economic profit is below the normal profit line. This implies that she can gain more profit if she works as a teacher for AED8,000. The calculations demonstrate that Teena should increase the price of coffee to at least AED25, as the product was found inelastic. If Teena increases the price of coffee, total revenues from coffee will increase from AED12,800 to AED15,000 (see Appendix 3). At the same time, Teena should avoid increasing the price of sandwiches due to high elasticity. An increase in price of sandwiches to AED25 will reduce the revenues from the product from AED12,800 to AED10,000 (see Appendix 3). If Teena follows the advise, the economic profit will increase from -AED1,600 to AED600 (see Appendix 3).
The final task was to provide a description of the type of market, in which Teena operates. Teena operates in the coffee shop industry, which experienced rapid growth during the past 20 years. UAE is known to be the most vibrant coffee shop market in the Middle East due to heated competition (“UAE – Coffee Culture”). The market is filled with international players, such as Dunkin Donuts, Costa Coffee, and Starbucks (“UAE – Coffee Culture”). However, the industry experiences a growth of interest to independent coffee shops that retain a strong tradition of coffee preparation (“UAE – Coffee Culture”). Since 88% of local authorities in the coffee shop industry, Teena should not be afraid of competition from “big players” and continue to develop her venture (“UAE – Coffee Culture”). However, she needs to develop her authentic style and use only authentic coffee preparation methods to attract customers, as it is the most successful approach to development among the competitors in the industry.
Hargrave, Marshal. “Economic Profit vs. Accounting: What’s the Difference?” Investopedia, 2020. Web.
Kenton, Will. “ Price Elasticity of Demand ”. Investopedia, 2020. Web.
Tuovila, Alicia. “ Normal Profit ”. Investopedia, 2020. Web.
“UAE – Coffee Culture, Trends and Market Dynamics.” World Coffee Portal, 2020. Web.
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Creation and Management of a New Venture Essay
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Introduction
The entrepreneur, getting into business, success factors for new ventures, survival and growth of small business.
For many years, entrepreneurs have played an important role in the global economy. They develop new business enterprises which create job opportunities, increase economic activities and steer innovation forward. Unfortunately, entrepreneurs remain an often ignored segment of the business context despite their positive influence on economic prosperity. In spite of decades of research into the segment, researchers have not come into consensus about the universal definition of entrepreneur.
Moreover, there is no common agreement about the exact characteristics and behaviors that describe entrepreneurs. Even though they operate across different sectors and environments, they still share important traits and behaviors. This paper investigates the wider context of the entrepreneur as the founder of business ventures.
There is a discussion of the founder including the traits and motivation to entrepreneurship. The factors that determine the success of a start-up business are investigated. The research is not complete without analyzing the transition from start-up to growing business and the two different situations.
An entrepreneur can be defined as an innovator who establishes a new business enterprise offering new or existing goods and services in order to gain profit. A different definition is given by Mohanty (2005) as an individual who brings resources, materials, labor and other assets into an arrangement that increases their value and also introduces innovations, changes and new order (pp.1-2). Other definitions consider an entrepreneur as the person typically driven by some forces, the desires to achieve something, experiment, accomplish or escape the authority of others.
On a business perspective, he may either appear as an aggressive competitor or an ally who creates wealth for others and finds better ways of employing resource and generates jobs others are delighted to get (Wong et al., 2005). In almost all definitions, there is a general agreement that the behavior of an entrepreneur includes; initiative taking, resource planning and risk taking (Hisrich, Peters & Shepherd, 2005).
Entrepreneurs are made rather than born, though a large number of the most successful founders established their first business venture at a young age (Ernst & Young, 2011). Despite this age, most of them did not launch directly into their business from higher education. Many surveys describe them as transitioned or had some experience elsewhere before establishing their ventures. Other factors such as the background also influence entrepreneurs.
Pitje, the founder of New Gx Capital, a telecommunication company based in Johannesburg acknowledges that his entrepreneurship motive was highly influenced by being brought up in an entrepreneurial family (Ernst & Young. 2011, p.8). Indeed, there are no entrepreneurship genes, but are characteristics and experience that increase the chances of an individual choosing this path and eventually succeeding in the long run.
A true entrepreneur must have confidence in order to gain a sense of self-esteem and faith in his ability to meet challenges by acting and then gaining self-belief by seeing results. He should feel a sense of ownership and take responsibility for getting things done rather than viewing problems as someone else’s. He works to sharpen up communication skills by taking advantage of the available resources.
An entrepreneur should be passionate about learning and seeks out information. He should be a good team player and system-oriented in order to connect the human resources to organization goals. He should be a leader by example and appreciate, support, motivate and reward others. He should not be afraid of risk but be ready to take chances.
Business ideas and opportunities are relevant to entrepreneurs as innovators and risk takers. Business ideas relate to the facts that influence the success of a venture while business opportunity is about understanding the means to exploit the ideas. Sarasvathy (2001) is of the opinion that causal reasoning is the very source of business ideas.
On the other hand, effectual reasoning leads to the realization of business opportunities. The fact that effectual reasoning demands imagination, risk-taking, spontaneity and salesmanship enables entrepreneurs to imagine and execute positive effects that can be created with true self-esteem.
The opportunity to generate wealth and become own bosses is the key attracting factor to entrepreneurship. Evidently, this has intensified the researches on SME growth and more significantly the formal and informal attributes of entrepreneurs who have driven their ventures successfully to growth-stage (Rose, Kumar & Yen, 2006).
Literature suggests that the important areas for start-up entrepreneurs are leadership, management skills, entrepreneurial orientation, human capital, competencies, personality attributes and circle of network (Rose, Kumar & Yen, 2006).
The qualities related to the high desire to achieve contribute greatly to the success of new business. Indeed, the entrepreneurs score higher than managers in desire to achieve, tolerance of ambiguity and risk-taking predisposition. The desire to achieve, risk-taking predisposition and internal locus of control are key factors contributing to the success of start-up businesses.
It is also suggested that risk-taking is a major attribute in differentiating between managers and entrepreneurs. It is a fact that entrepreneurs are risk takers especially in fields where they have competencies or control in attaining profits. They are required to embark on the unknown and vague situations.
Therefore, they are supposed to demonstrate more tolerance of uncertainty than others. In regard to innovativeness, it is the focus of entrepreneurship and an important characteristic of an entrepreneur. In essence, entrepreneurs should be more innovative than other business stakeholders.
Another important aspect is to select the most appropriate market entry strategy. According to Allen (2011), entrepreneurs are required to assess the market environment critically before making the final entry decisions. There are two strategies that founders can use to enter the new market. The first entry strategy is the strike force approach which is non-aggressive and focused.
It is an entry strategy to a narrowly defined market that uses very few resources. It is most appropriate for hostile and sparse markets where a venture can enter quietly and establish its business, arranging the groundwork for expansion.
The other entry strategy is guerrilla tactics which is characterized by the employment of few resources to strike on the most effective areas of the market. This strategy is appropriate in bountiful but hostile markets. The wider market supports a broad entry, though the presence of competitors demands a less-aggressive approach.
The success of a new business venture is determined by a number of factors including personality traits, personal initiative, human capital and competency (Verheul, 2010). Personality traits of an entrepreneur impact on business performance directly and the business process indirectly. However, the factor is more relevant to the success of start-up business if the entrepreneur takes action and initiative.
A study conducted by Frese and Fay (2001) revealed that employee with higher personal initiatives portrayed better performance in the workplace. Likewise, entrepreneurs with high personal initiatives are capable of staying ahead of competition and are role models to their employees. Personal initiative is action-oriented and goal-directed and thus closely associated with an active strategy. When used to determine success of a new venture or to lead the firm to growth-stage, initiative plays a significant role in overcoming barriers.
Human capital is another important factor which is considered passively or where people react to the environment (Rose, Kumar & Yen, 2006). It entails knowledge and capacity including education and experience. Human capital contributes greatly to new ventures and their growth.
Elements of human capital of an entrepreneur such as family, environment, work history, education, role models, regulatory bodies, age and support networks impact on the success of the business venture. Likewise, competency is an important factor in ensuring the success of start-ups. An entrepreneur faces greater challenges when the business moves to growth-stage as it experiences what is referred to as strategic reflection point (Allen, 2011). Those with right competencies are in a better position to overcome the emerging challenges.
A calculated reflection point corresponds to a time in the lifecycle of the new venture when the basic operations have extremely changed. Businesses progress through steady, predictable stages of development called lifecycle phases. In the start-up phase, the venture is concerned with inventions of products or services, setting up market segment, attracting new customers and production as well as marketing of the product.
As the firm starts to grow fast, it will require a formal organization and coordination in response to the increased functional activities (Allen, 2011, p.364). During growth phase, the entrepreneur is compelled to emphasize on long-term strength while keeping up the innovative spirit that led to success in the first phase. As the founder of the business, the entrepreneur has an important role to play in long-term success of the business.
He supports the vision of the firm and inspires employees to champion the vision. Nevertheless, the firm will continue to grow and at some point the entrepreneur must emphasize and focus on various areas of talents and competencies in order to steer the business towards long-term success.
In the struggle to create momentum and grow their ventures, entrepreneurs encounter three key challenges: people, funding and know-how (Ernst & Young, 2011). Finance is the biggest problem faced by entrepreneurs as noted by many researchers on SME (Rose, Kumar & Yen, 2006). It is very hard for these businesses to get funds since the banks are not ready to lend small amounts of money. The challenge of getting the right people to implement the entrepreneur’s strategic vision is a permanent one.
All business entities struggle with attracting and retaining employees that help the business to grow. Once in the business, the entrepreneur faces a big problem of finding people with the necessary skills to join the business. In addition to the right people, entrepreneurs need the right knowledge in order to take their business forward. They must have knowledge regarding different areas such as marketing, sales, finance, operations, logistics and leadership.
Some arguments have been put forward that the entrepreneur should be replaced by professional mangers due to their poor competencies as the firm begins to move from start-up phase to growth phase (Hisrich, Peters & Shepherd, 2005). However, several researches have proved this claim to be invalid (Wong et al, 2005).
There is no evidence that managers perform better in growing firms, but entrepreneurs can learn to manage effectively. With a social network support, founders have the ability to organize and synchronize networks between organizations and individuals. Informal network support such as from relatives, friends, acquaintances and previous workmates can benefit the firm.
As the venture grows, entrepreneurs should be attuned to promoting the business and its products, understand the needs of the market and customer feedbacks. Understanding the trends and future expectations as precisely as possible will allow long-term continuation of the venture. Additionally, entrepreneurs naturally focus on the quality of goods and services, competitive planning and strategies as well as the improvement of products.
They must also be included in strategic planning regarding to competition, because it guarantees the future and survival of the business. As they move away from routine accounting t roles, the entrepreneurs need to have a bigger picture of the firm’s finance. It will be important to assign the routine accounting tasks to relevant personnel and pay attention to the higher levels of finance management.
Entrepreneurship can be summarized as a process of utilizing business ideas to identify opportunities and using creativity to establish a business venture that fully exploits the opportunities. Such a conception requires an individual with specific traits and competence.
These attributes when used effectively lead to the success of a new venture and eventual transition to a growing business firm. An ultimate vision is the driver of all initiatives put in place while an entrepreneur champions the vision to all organization members.
Allen, K 2011, Launching new ventures: An entrepreneurial . Cengage Learning, Florence.
Ernst & Young 2011, “ Nature or nurture? Decoding the DNA of the entrepreneur” . Web.
Frese, M & Fay, D 2001, “Personal Initiative: An active performance concept for work in the 21st century”, Research in Organizational Behavior , vol.23 no.2, pp.133-187.
Hisrich, R, Peters, M & Shepherd, D 2005, Entrepreneurship . McGraw-Hill Irwin, New York.
Mohanty, S 2005, Fundamentals of Entrepreneurship . PHI Learning Pvt. Ltd, New Delhi.
Rose, R, Kumar, N & Yen, L 2006, “Dynamics of entrepreneurs’ success factors in influencing venture growth”, Journal of Asia Entrepreneurship and Sustainability , vol.2 no.2, pp.1-23.
Sarasvathy, S 2001, “What makes entrepreneurs entrepreneurial”, Harvard Business Review , pp.1-8.
Verheul, I, Thurik, R, Hessels, J & van der Zwan, P 2010, “Factors influencing the entrepreneurial engagement of opportunity and necessity entrepreneurs”, EIM Research Reports, H201011 , p. 1-24.
Wong, P, Ho, Y & Autio, E 2005, “Entrepreneurship, innovation and economic growth: Evidence from GEM data”, Small Business Economics , vol.24 no.5, pp.335-350.
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IvyPanda. (2019, March 28). Creation and Management of a New Venture. https://ivypanda.com/essays/creation-and-management-of-a-new-venture/
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The Legacy Company’s Guide to Innovation
- Ivanka Visnjic
- Ronnie Leten
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Many experts are urging established companies to radically innovate—and disrupt themselves before someone else does. The trouble is, large firms aren’t designed for moon shots. Their owners don’t like the risks and won’t kill the goose that lays the golden egg. As a result, all too often they end up defaulting to incremental innovation.
But there is a solution: Incumbents can partner with entrepreneurial start-ups or with intrapreneurs that have ideas for breakthrough products. By doing that, they can leverage their significant resources while increasing the odds that those ideas will take off. This approach does require careful management, however.
Drawing on the experiences of more than a dozen large multinationals, including Atlas Copco, Enel, and Epiroc, this article outlines a three-stage innovation process for incumbents to follow: First, set up numerous projects with multiple partners, nurturing them until their chances of success become clear. Next, once a venture has a breakthrough, gradually increase your commitment and help it remove roadblocks. Finally, when its business model is viable and it has a critical mass of customers, rapidly mobilize the resources it needs to scale up quickly.
How to collaborate well and scale up fast
Idea in Brief
The problem.
Many established companies aspire to develop radical innovations—to disrupt themselves before someone else does. But for all their capabilities and resources, they struggle to innovate successfully.
Why It Happens
Large firms aren’t set up for moon shots. Their owners don’t like risk and won’t kill the goose that lays the golden egg. So firms end up defaulting to incremental innovation, which only increases their odds of being upended.
The Solution
Partner with start-up companies or intrapreneurs to create portfolios of projects that you can nurture until their chances of success have become clear. Once a new business begins to take off, quickly ramp up investments in it.
As the markets celebrate the success of gen-AI and green-tech start-ups, many experts are urging established companies to emulate those ventures by committing to radical innovation—by disrupting themselves before someone else does. But for a lot of incumbent companies, that’s just not a feasible strategy. Their owners don’t like risk and won’t kill the goose that lays the golden egg. As a result large enterprises end up defaulting to incremental innovation, perversely increasing the chances that they’ll get upended.
- IV Ivanka Visnjic is a professor at ESADE Business School in Barcelona and the head of its department of operations, innovation, and data sciences.
- RL Ronnie Leten is the chairman of Epiroc, a Swedish-based manufacturer of mining and infrastructure equipment; the former chairman of Ericsson; and the former CEO of Atlas Copco.
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The Small Business Boom Isn't Slowing Down
Americans are turning to entrepreneurship at near record levels despite a tough business environment..
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The small business boom shows no signs of abating.
Americans keep turning to entrepreneurship at near record levels. So far this year, 3.02 million new business applications have been filed--a level outpacing eight of the past ten years and just under the all-time highs recorded in 2021 and 2023.
On a monthly basis, 420,802 new business applications were filed in July, according to the U.S. Census Bureau. That marks a 2.1 percent decrease from this time last year. Still, the monthly average of 443,000 new startups remains 92 percent higher than the pre-pandemic norm, and the Biden administration is taking a victory lap on the historic uptick.
"Over the past four years more entrepreneurs than ever before have pursued the American dream of business ownership," said SBA Administrator Isabel Casillas Guzman in a statement with the release. "The SBA has been committed to matching this incredible wave of enthusiasm with the capital, market access, and resources small businesses need to start, grow, and thrive."
Since President Biden took office, 19 new million businesses have formed. Typically, between 7 and 9 percent of businesses shutter each year, but that closure rate has been trending downward recently. Of the 33.3 million small businesses nationwide, 917,825 businesses --or 2.8 percent--shut down and 1.4 million new establishments opened between March 2021 and March 2022.
The environment for these new startups has not been an easy one. While inflation has fallen below 3 percent for the first time in more than three years, cost pressures remain the most pressing problem for business owners . In an effort to fight that inflation, the Federal Reserve has kept interest rates high, squeezing credit availability . Banks continue to tighten loan standards, especially for small businesses, and report weakening demand, according to the Fed's Senior Loan Officer Opinion Survey . Entrepreneurs are getting fed up with their lenders with an increasing amount saying they are not satisfied with the terms and amounts offered.
More entrepreneurs are turning to the SBA for help with financing. The federal agency has already approved 58,849 small business loans this year , up from 57,362 last year and 51,856 in 2021 when President Biden took office. At the same time, the average loan size has fallen from $704,581 in 2021 to $479,685 in 2023 and now to $433,590 this year.
The entrepreneurs getting more money from the SBA include some of the groups that often face barriers to financing, including Black, Latino and woman-owned businesses. The number of loans to women and Latino business owners has about doubled on a monthly basis while lending to Black-owned businesses has tripled.
A refreshed look at leadership from the desk of CEO and chief content officer Stephanie Mehta
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Read JD Vance's financial disclosure, which includes at least $4 million in total assets and $250,000 in bitcoin
- Sen. JD Vance of Ohio filed his required annual financial disclosure.
- Vance is required to file a separate report now that he is the GOP's vice-presidential nominee.
- Former President Donald Trump's report could be made public later this week.
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Sen. JD Vance of Ohio provided a snapshot of his finances on Tuesday, showing his considerable worth after a best-selling book and a stint in venture capital.
The Republican vice-presidential nominee's legally required FEC form is far less cumbersome than his running mate's past disclosures. Former President Donald Trump's 2023 report totaled over 100 pages. Trump has filed for two extensions for his 2024 report; his deadline is later this week.
Vance's disclosure shows roughly the same assets he files on his separately required Senate financial report. Based on the low-end estimates, Vance and his wife, Usha Vance, hold at least roughly $4 million in assets. They also report having at least a $250,000 mortgage and at least a $500,000 line of credit with Charles Schwab.
Among their largest assets are at least $1 million in an Invesco index fund, multiple exchange-traded funds worth at least $500,000, and at least $250,000 worth of bitcoin. Vance also estimates his stake in his venture firm, Narya Capital, to be worth at least $500,000. Vance was a partner at Narya until December 2022, when he resigned following his election as a US senator.
Officials are required to report their assets and liabilities only in rough ranges, making exact estimates of their net worths challenging. Vance is also not required to estimate the value of his primary home. In July, Forbes estimated that Vance's net worth was roughly $10 million.
A spokesperson for Vance did not immediately respond to Business Insider's request for comment.
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Guest Essay
The China Hangover Is Here
![essay on business venture An artist’s rendering shows a vulture stand atop a crumbling representation of a bar graph.](https://static01.nyt.com/images/2024/08/19/opinion/19beckley-image/19beckley-image-articleLarge.jpg?quality=75&auto=webp&disable=upscale)
By Michael Beckley
Mr. Beckley is the author of “Danger Zone: The Coming Conflict With China.”
In the 2000s, former President Hugo Chávez of Venezuela bet his country’s economic future on a rising China, securing tens of billions of dollars in investments and loans-for-oil deals. It paid off at first. China voraciously consumed Venezuelan oil and financed infrastructure projects from a high-speed railway to power plants.
The 2010s brought a reckoning. Oil prices fell, and growth in Chinese oil demand slowed along with its economy. Venezuela’s oil export revenues plummeted, from more than $73 billion in 2011 to $22 billion in 2016 . Misrule by Mr. Chavez and his handpicked successor, Nicolás Maduro, and myriad other domestic problems already had Venezuela on the brink; the gamble on China helped push it over the edge. In 2014, Venezuela’s economy collapsed. People scavenged for food in garbage dumps, hospitals were short of essential medicines and crime surged. Since then, nearly eight million people have fled the country. China largely cut Venezuela off from new credit and loans , leaving behind a slew of unfinished projects .
Venezuela’s over-dependence on China was an early warning that the world ignored. Dozens of other countries that rode China’s rise are now at serious risk of financial distress and debt default as the Chinese economy stagnates. Yet China refuses to offer meaningful foreign debt relief and is doubling down at home on its protectionist trade practices when it should be undertaking reforms to free up and restart its economy, the world’s second-largest and a crucial engine of global growth.
This is the flip side of China’s “miracle.” After the 2008 global financial crisis, the world needed an economic savior, and China filled that role. Starting in 2008, it pumped $29 trillion into its economy over nine years — equivalent to about one-third of global G.D.P. — to keep it going. The positive ripple effects were felt worldwide: From 2008 to 2021 China accounted for more than 40 percent of global growth . Developing countries eagerly attached themselves to what seemed like an unstoppable economic juggernaut, and China became the top trading partner for most of the world’s nations. Like Venezuela, many discovered that the booming Chinese economy was a lucrative new market for their commodity exports, and they leaned heavily into that, allowing other sectors of their economies to languish.
China also lent more than $1 trillion abroad, largely for infrastructure projects to be built by Chinese companies under its Belt and Road Initiative. Over the past two decades, one in three infrastructure projects in Africa was built by Chinese entities. The long-term debt risks for fragile developing economies were often ignored.
Chinese lending has slowed to a trickle
Annual foreign lending
$90 billion
$87 billion
Source: Boston University Global Development Policy Center
China’s economic growth has slowed sharply over the last few decades
China has consistently reported higher economic growth than outside sources estimate. While The Conference Board in recent years estimated numbers close to China’s, Rhodium Group estimated much smaller growth.
15% annual growth of G.D.P.
Reported by China
Estimated by
The Conference Board
Estimated by Rhodium Group
Sources: National Bureau of Statistics of China; The Conference Board; Rhodium Group
China is a major trading partner across the world
Share of total trade with China
10 percent or less
more than 10 percent
No recent data availabe
No recent data available
More than 10 percent
Source: United Nations Comtrade
Note: Trade data as of 2023. For countries where 2023 data is not available, the most recent year is used.
China has been one of the world’s largest lenders to emerging markets
Aggregate external public debt owed by developing and emerging markets
$400 billion
International
Monetary Fund
Sources: Horn et al. (2021) “ China's O verseas L ending ,” Journal of International Economics; World Bank; Paris Club; International Monetary Fund
Note: Chart shows debt owed by developing and emerging markets included in the World Bank International Debt Statistics. Data on public debt owed to China is incomplete after 2017.
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Judge blocks plans for sports joint streaming venture among Fox, ESPN and Warner Brothers
FILE - The Thurgood Marshall United States Courthouse, center, is located at Foley Square, Oct. 7, 2020, in New York. (AP Photo/Mark Lennihan, File)
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The launch of Venu Sports will be delayed after a federal judge granted FuboTV’s motion for a preliminary injunction against the planned sports streaming venture by ESPN, Fox and Warner Bros. Discovery.
U.S. District Judge Margaret M. Garnett in the Southern District of New York said in her 69-page ruling that Fubo was likely to be successful in proving during a trial that the joint venture would violate antitrust laws, and Fubo and consumers would “face irreparable harm in the absence of an injunction.”
ESPN, Fox and Warner Bros. Discovery said they would appeal the ruling.
FuboTV filed the lawsuit two weeks after ESPN, Fox, Warner Bros. Discovery and Hulu announced their plan to offer a sports streaming service on Feb. 6.
FuboTV said in its filing that it has tried for years to offer a sports-only streaming service but has been prevented from doing so because of ESPN. Fox and Warner Bros. Discovery have imposed bundling requirements on FuboTV which it says forces “Fubo to spend hundreds of millions of dollars to license and broadcast content that its customers do not want or need.”
“Today’s ruling is a victory not only for Fubo but also for consumers. This decision will help ensure that consumers have access to a more competitive marketplace with multiple sports streaming options,” Fubo co-founder and CEO David Gandler said in a statement. “But our fight continues. Fubo has said all along that we seek equal treatment from these media giants, and a level playing field in our industry.”
“A fair and competitive marketplace is necessary to provide consumers with multiple, robust and more affordable sports streaming options,” Gandler continued. “We will continue to fight for fairness and for what’s best for consumers.”
Venu Sports announced on Aug. 1 it would be available for $42.99 per month with its planned launch in the fall. That launch will likely be delayed until at least next year.
The platform would include offerings from 14 linear networks — ESPN, ESPN2, ESPNU, SEC Network, ACC Network, ESPNEWS, ABC, FOX, FS1, FS2, Big Ten Network, TNT, TBS, truTV — as well as ESPN+.
Subscribers would have the ability to bundle the product with Disney+, Hulu and/or Max.
ESPN, Fox and Warner Bros. Discovery said in a joint statement: “We believe that Fubo’s arguments are wrong on the facts and the law, and that Fubo has failed to prove it is legally entitled to a preliminary injunction. Venu Sports is a pro-competitive option that aims to enhance consumer choice by reaching a segment of viewers who currently are not served by existing subscription options.”
ESPN, Fox and Warner Bros. Discovery will each share one-third ownership in the joint venture. The initial term for the three companies to be involved in Venue Sports is nine years, according to term sheets and court filings.
The ruling also drew reaction from cable and satellite companies, who are watching with interest due to their bundling requirements and what companies generally charge in subscriber fees.
“We are pleased with the court decision and believe that it appropriately recognizes the potential harms of allowing major programmers to license their content to an affiliated distributor on more favorable terms than they license their content to third parties,” DirecTV spokesman Jon Greer said.
AP sports: https://apnews.com/sports
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Zymergen Investors Advance Class Suit Against Venture Funds (1)
By Martina Barash
![essay on business venture Martina Barash](https://db0ip7zd23b50.cloudfront.net/dims4/default/ef4c262/2147483647/legacy_thumbnail/80x80%3E/quality/90/?url=http%3A%2F%2Fbloomberg-bna-brightspot.s3.amazonaws.com%2F13%2F20%2Fc84091394d76802488d374d77cec%2Fmartina-barash-bwrite.jpg)
SoftBank Group Corp. units and two other venture capital funds must face Zymergen Inc. investors’ claims that they are responsible for misleading IPO papers before the biological manufacturing company imploded, a federal court ruled.
The investors adequately alleged that SoftBank’s SB Investment Advisers (US) Inc., DCVC Management Co., and True Venture Management LLC—and their funds that invested in Zymergen—controlled the company in the lead-up to its initial public offering, Judge P. Casey Pitts said Wednesday for the US District Court for the Northern District of California.
Zymergen’s registration statement estimated a $1.2 trillion opportunity across 20 industries, the investors say. ...
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In my grade 11 term 1 business venture essay, I proposed an innovative business concept called "GreenPrints." GreenPrints is a sustainable printing company that offers eco-friendly printing services using recycled paper and vegetable-based inks.
It can be argued that transparency, corporate citizenship and responsibility, and follow-through are the main principles a company should adhere to in order to become more trustable and successful. Get a custom essay on Business Ventures: The Main Principles. Transparency in a venture's business operations is key to creating trust with the ...
by Rachel Layne. Many companies build their businesses on open source software, code that would cost firms $8.8 trillion to create from scratch if it weren't freely available. Research by Frank Nagle and colleagues puts a value on an economic necessity that will require investment to meet demand. 12 Mar 2024.
Introduction. This paper investigates the economic feasibility of two business plans developed by three friends: Alex, Felix, and Sarah. The first one is a burger and hot dog business, which targets students in a small town. In contrast, the second plan involves establishing a Middle Eastern-style confectionery that will sell sweet bakery items ...
Emily Heyward is the author of Obsessed: Building a Brand People Love from Day One (Portfolio; June 9, 2020). She is the co-founder and chief brand officer at Red Antler, a full-service brand ...
Characteristics of a Business Venture. 1. Innovation. When we talk about innovation in a business venture, think of it as the secret sauce that sets a company apart from the crowd. It's not just about having a new idea; it's about meeting specific needs in a way that no one else has thought of.
A business plan is a document that performs the operational and managerial functions of the venture. Its main benefit is that it allows the entrepreneur to avoid some of the problems that can potentially arise during its implementation (Kuratko, 2016). There are other advantages of a business plan for the entrepreneur; for example, he gains an ...
They involve one or more entities or individuals who sign a business venture agreement or another written agreement, depending on the type of business. This document typically includes management-related provisions, economic rights and distributions, classes of LLC interests, rules on meetings and decision making, fiduciary duties and more.
Business Ventures Essays. Entrepreneurship and Leadership of Business Ventures. Introduction The essence of contemporary commerce relies heavily on the balance of entrepreneurship and leadership, which are becoming crucial aspects that define the business landscape. This reflective report seeks to analyze and gain clarity into personal ...
Business Venture Essays (Examples) + documents containing "business venture" . View our collection of business venture essays. Find inspiration for topics, titles, outlines, & craft impactful business venture papers. Read our business venture papers today!
It can include opening a restaurant or launching a clothing line. Most business ventures are frequently referred to as small businesses since they usually start with an idea and quite limited finances. They are typically supported by one or more angel investors who have faith in this business concept. Source: lendingtree.
Description of the venture. The business I would like to open is a sports bar and grill. The sports bar and grill will be selling alcoholic and non-alcoholic drinks to the customers. The sports bar will be a popular sports bar and will be selling affordable drinks and foods. The business will hold about 100 customers since it will have adequate ...
At its most basic level, entrepreneurship refers to an individual or a small group of partners who strike out on an original path to create a new business. An aspiring entrepreneur actively seeks a particular business venture and it is the entrepreneur who assumes the greatest amount of risk associated with the project.
The Success Of A Business Venture Essay. When studied theoretically, entrepreneurship is a very interesting and awesome topic. People want to be free by becoming their own bosses. They also want to decide on their own working schedules by setting the hours they want to work, from what location, i.e. whether at home or at office and do the one ...
Business venture in the contemporary world is facing diverse forces emanating internally or externally. The business environment in the current society depends on numerous factors affiliated to an industry or the global market. In the current era, of technological development operations and...
Introduction The essence of contemporary commerce relies heavily on the balance of entrepreneurship and leadership, which are becoming crucial aspects that define the business landscape. This reflective report seeks to analyze and gain clarity into personal leadership style and entrepreneurial competencies, elucidating their implications for the broader business realm. It also intends to ...
Venture Capital in Singapore: A Quantitative Analysis. Chapter 1: Introduction In the Venture Capital (VC) discussion, Singapore has emerged as a robust and dynamic ecosystem, attracting investors and entrepreneurs alike (Ahlstrom & Bruton, 2006). This paper delves into a quantitative analysis of the venture capital landscape in Singapore ...
Essay about Study Guide. 1. Entrepreneur- one who undertakes to organize, manages, and assumes the risks of a business. ENTREPRENEURSHIP- a dynamic process of vision, change, and creation that requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions.
Essay, Pages 3 (556 words) Views. 3141. Current visions about your potential business venture Regina Murphy-Moore Southern New Hampshire University Operating a company is a stimulating, resourceful, and adaptable way to plan one's opportunity and come to be an entrepreneur. Apart from making a living, it is about building a new way of life.
According to Tuovila, a business makes a normal profit when its explicit and implicit costs are equal to the total revenue. In other words, a firm is making a normal profit when the economic profit is equal to zero. In Teena's case, her venture would be making a normal profit if her monthly revenues were at the level of AED27,200.
The success of a new business venture is determined by a number of factors including personality traits, personal initiative, human capital and competency (Verheul, 2010). Personality traits of an entrepreneur impact on business performance directly and the business process indirectly. However, the factor is more relevant to the success of ...
Next, once a venture has a breakthrough, gradually increase your commitment and help it remove roadblocks. Finally, when its business model is viable and it has a critical mass of customers ...
Americans keep turning to entrepreneurship at near record levels. So far this year, 3.02 million new business applications have been filed--a level outpacing eight of the past ten years and just ...
Venture investors see a wave of private-equity buyouts and roll-ups as corporate acquisitions dip. Menu icon A vertical stack of three evenly spaced horizontal lines.
Vance also estimates his stake in his venture firm, Narya Capital, to be worth at least $500,000. Vance was a partner at Narya until December 2022, when he resigned following his election as a US ...
American Express New Business Venture. Introduction Good morning! I appreciate your time for this meeting to discuss the proposed new project, Amex MoneyMentor. I am eager to explore and share comprehensive details about this innovative service and its potential to transform our company. By the end of our conversation, I am confident that you ...
Guest Essay. The China Hangover Is Here. Aug. 19, 2024, 1:00 a.m. ET. Credit... Felix Decombat. ... face deep challenges because of their over-dependence on doing business with China.
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business.
SoftBank Group Corp. units and two other venture capital funds must face Zymergen Inc. investors' claims that they are responsible for misleading IPO papers before the biological manufacturing company imploded, a federal court ruled. The investors adequately alleged that SoftBank's SB Investment ...
A federal judge on Friday temporarily blocked the upcoming launch of Venu Sports, the joint sports streaming venture from Warner Bros. Discovery, Disney and Fox Corporation.