Hi dears,

have you ever dreamed one day, 

you can lead a group to start a project?

 To change what is going on in your field?

In order to give more detail informaion about entrepreneurship, Prof. Dr. Eberhard, from Regensburg University of Applied Science, has prepared an detail guidance on

5 steps to starting a business.

Eberhard Auchter

I can imagine some of you are very interested to start your business. May be not right now or directly after finishing your study but at a later stage of your professional career.
There is no doubt that starting your own business is one of the great, albeit challenging, experiences in life. Is it interesting, rewarding, exciting, and fulfilling? Indeed. But it is also frightening, exhausting, frustrating and tricky.

The problem for the new entrepreneur is that "you don't know what you don't know." But that need not be so. Just understanding the start-up process can make a big difference.

Here then are my five steps for starting a new business.

Of course there are other attributes that are required to be an entrepreneur, including:

· Being a self-starter

· Having a willingness to work hard

· Possessing an ability to handle uncertainty

· Having self-discipline

Of all of these, I think risk-tolerance is the most important. 

 Choose the right business

The first type of entrepreneur: 

A person who loves something so much that he or she simply must do it for a career. It might be the weekend gardener who loves the idea of starting her own nursery or the computer geek who wants to open his own mobile repair business. 

As long as you conclude there is a market for your beloved business, this is a fine way to go.

The second type of entrepreneur: 

A person who is not in love with a particular idea per se, but in love with the idea of entrepreneurship itself. Here is the way to join a start-up project or you try to find  a good potential business idea by yourself or with partners.

So the bottom line is this: 

Whether you love a certain profession or just love an idea, pick a business that you will love.

Write a winning business plan

Well, your business plan is your flight plan for your new startup. Before you even open your business, you need to thoroughly think through what the business will be, why it will be unique, how you will get customers, how you will handle the competition, and so on. 

That is your business plan. 

Not only will you use it to make sure you are on the right track, but investors will want to see it to determine whether your new business is a worthwhile investment.

As such, a big part of that plan will be your financial analysis: How much money will you need, how will you spend it, how much profit can you reasonably expect to make? Your financials will tell you. The best way to figure this out is by using the right software program. 

Line up your funding

The important thing is that you find enough money to get started properly. There is nothing worse than starting out with a cash-crunch. 

 Open up shop

If you want further konwledge about entreprenuership, please click the attached video about "What is entrepreneurship?"

To live is to change the world.

                                     ——Steve Jobs