(TIỂU LUẬN) TIỂU LUẬN HOW TO START a BUSINESS WITHOUT EXPERIENCE

TRƯỜNG ĐẠI HỌC BÌNH DƯƠNGKHOA KINH TẾ BÀI TIỂU LUẬN HOW TO START A BUSINESS WITHOUT EXPERIENCE MÔN HỌC : ANH VĂN CHUYÊN NGÀNH 2 GVGD : ThS.. HOW TO START A BUSINESS ...WITHOUT EXPERIENCE

TRƯỜNG ĐẠI HỌC BÌNH DƯƠNG

KHOA KINH TẾ

BÀI TIỂU LUẬN

HOW TO START A BUSINESS WITHOUT EXPERIENCE

MÔN HỌC : ANH VĂN CHUYÊN NGÀNH 2

GVGD : ThS NGUYỄN HƯƠNG SANG

HỌ TÊN SV: PHAN CHÍ TRUNG

“First and foremost, I'd want to congratulate Binh Duong University for incorporatingEnglish subject 2 into the curriculum I'd want to show my thanks to subject professorNguyen Huong Sang in particular for educating and imparting significant information

to me during the course of my studies I received a lot of practical knowledge, as well

as an effective and serious study spirit, during my time in his 2nd major English class.This will undoubtedly be useful information, as well as a piece of luggage with which

I will be able to confidently go forward in the future

English major 2 is a fascinating, incredibly helpful, and quite practical topic Ascertainthat students have sufficient knowledge in relation to their practical demands.However, many shocks remain because to inadequate understanding and capacity tocomprehend reality Despite my best efforts, it is clear that the essay is tough to writewithout faults and numerous mistakes I hope you would examine my essay andprovide feedback to help me better it

" I'd want to express my heartfelt gratitude!"

HOW TO START A BUSINESS

WITHOUT EXPERIENCE

CHAPTER 1:THE PRESENT SITUATION OF YOUNG PEOPLE’S ENTREPRENEURSHIP

1.1 Why is entrepreneurship becoming more popular among young people. 1 1.2 The difficulties of starting a business 1.2.1 Leaving other occupations 1.2.2 Mobilization of funds 1.2.3 Creating a team 1.2.4 You'll need a long-term strategy

1.2.5 When confronted with the unknown .

1.2.6 Loneliness 1.2.7 Developing company policies 1.2.8 Make a choice 1.3 Knowledge to start a business

1.3.1 Skills in self-study 1.3.2 Skills in networking 1.3.3 Optimism 1.3.4 Asking for assistance skills

1.3.5 Situational awareness CHAPTER 2: THEORETICAL FOUNDATION .

2.1 What is the definition of a startup

2.2 Business

2.3 Market

2.4 Customer

2.5 Competitor

2.6 Business administration

2.7 Manage customer books

CHAPTER 3: CONTENT ON WHAT TO KNOW WHEN STARTING A BUSINESS WITHOUT EXPERIENCE

3.1 How to Begin a Business

3.2 Things to know before starting a business .

3.2.3 Is the company concept appealing to customers 13

3.2.4 What distinguishes your company from others 13

3.2.5 Do you have the ability to multi-task 13

3.2.6 Do you have the necessary financial resources to begin working right away 13

3.2.7 What are your strategies for dealing with rejection and disappointment? 14

3.3 Effective employee management golden principles 14

3.4 Consumer demands and behavior are studied using a variety of methods 14 3.5 Effective Cash Flow Management Solutions 15

3.5.1 Plan your autoization process with the help of art 15

3.5.2 The cash cycle is constantly monitored 15

3.5.3 Minimize risk of selling on credit 16

3.5.4 Consider the investment's net present value and payback time 16

CHAPTER 4: CONCLUSIONS 17

CHAPTER 1:THE PRESENT SITUATION OF YOUNG PEOPLE’S

ENTREPRENEURSHIP

Entrepreneurship is no longer a foreign concept; it appears in almost every context.For young individuals, starting a business is an ideal, novel, and appealing kind ofbusiness In the Vietnamese market, what makes a startup so appealing

1.1 Why is entrepreneurship becoming more popular among young people

Business trends are increasingly shifting dramatically The younger generation is

following in the footsteps of successful entrepreneurs from the past Young people have the courage to think and act, and they have access to technology and

communication via the Internet It is precisely the 4.0 technology that benefits

STARTUPS

Simply put, what would you think of if you wanted to advertise? Isn't it true that everysecond of a TV advertising costs a lot of money? Featured in a well-knownpublication? Alternatively, stand at the intersection and give pamphlets to every sidestreet That's exactly how we used to do it

However, owing to the shift in the 4.0 business paradigm, everything has changed.Customers sit in one spot yet have access to hundreds of thousands of different pieces

of information Customers have the option of learning through any channel that suitstheir needs

The most straightforward method is to use Google or social media sites to do a search.Direct purchasing is progressively being supplanted by online purchasing viaelectronic platforms As a result, e-commerce is rising in popularity, with millions ofpeople shopping online

1.2 The difficulties of starting a business

When we initially start a new business, we will confront a variety of problems that,although helpful, are also quite harsh and tough to overcome, especially whencompared to those who start a firm from the ground up young and experienced

1.2.1 Leaving other occupations

If you want to construct your own and expand your own career to win, for example,you can nearly no longer handle other stages at the same time You may simply have torun your own nascent firm on a Sunday night deadline, but if you want to have agenuinely great career, you must forego the jobs that make you happy

It's not easy to obtain a lucrative long-term opportunity on our own — especially ifwe've never run a firm before It's hazardous, but there's no other way to go ahead.Consider and make proper decisions, and don't dismiss your intuition; these will serve

as springboards for making your business simpler

1.2.2 Mobilization of funds

Experienced entrepreneurs may find it difficult to get cash when starting a new firm,but they do have a few advantages over newcomers It is the capital given from a priorfirm or a consistent stream of revenue that is utilized to fund the new venture

Even if their first firm fails, we may invest or connect with important clients to helpthem start a new one As a new trader, you and your entire family will be starting fromscratch, which means you should arrange the network configuration step by step andconsider all financing choices up front It is not easy for experienced merchants toobtain funds when they need to engage in one of the new advertising sectors whenthey choose one of them, but we have a lot of benefits for new businesses is a reliablesource of variations utilized as money for new PR initiatives or capital given fromprior PR operations

1.2.3 Creating a team

It will be more tough if you have never worked in or managed a team before, but even

if you have administrative expertise, putting together the ideal team to launch a firm ischallenging It was really hectic and exhausting You must examine the cost ofemploying employees, the optimization of traditional culture, and how to make thementirely function in addition to selecting individuals with the appropriate key Assistclients as a member of a client team When you're under pressure to fill these roles assoon as possible, team development becomes even more challenging

1.2.4 You'll need a long-term strategy.

You are supposed to come up with company concepts as a founder When a salesdisagreement emerges, it is the obligation of the company to devise a strategy fordealing with it When your team faces an impossible challenge, it's up to you to figureout how to get them to go ahead

That necessitates having a creative mind right away, which leaves a startupentrepreneur with little time to unwind The less experience you have, the morepressure you will feel, and the more difficult the deadlines will be

1.2.5 When confronted with the unknown

How long will the business of the startup last? What is the profit margin? Is ourproduct line well-liked by customers? Can we establish a reliable source of income forourselves? Even if we start off in absolute terms with the needles you'll need, none ofthe above questions have a concrete solution

1.2.6 Loneliness

This is a topic that is rarely discussed, and many new company owners are notpsychologically prepared for it until it occurs To be a leader is to become a loner,since you have no one to rely on in that position You'll have to work long hours andwon't be able to visit your family or friends on a regular basis, and businessprofessionals will be required to keep a certain distance from their employer

1.2.7 Developing company policies

It's wonderful to be the boss until you have to make a decision that must be followed.You'll have to come up with business rules in your company sooner or later, from howmany days off employees get to how you handle complaints It's not amusing that youshould consider and develop these guidelines, but they are necessary for any firm

1.2.8 Make a choice

Whether we like it or not, this is the most difficult of them all Every day, everybusiness owner is faced with hundreds of thousands of decisions, big and little,ranging from organizational structure to working hours If we are not prepared forrising levels of pressure, decision fatigue is a genuine problem that most businessesface

You'll be well on your way to developing your own profession if you can overcomethese obstacles That isn't to imply that current issues won't trouble you in the future,

or that you won't face a slew of new ones However, because you're willing to stand upfor yourself and conquer the challenges of the initial few months of your startup, you'll

be able to advance ahead of your competitors

1.3 Knowledge to start a business

1.3.1 Skills in self-study

We've just had a brilliant idea, but are we the first to think of it? Who may be yourmain rival? Are we capable of bringing that concept to life? What is the needed costand how will the funds be raised?

When launching a business, these are the problems you should consider andinvestigate Refer to academic publications and real-life situations that are related toour company concept; locate a teacher, a mentor; invest in market and consumerresearch, as well as take classes to improve your abilities, if eligible

1.3.2 Skills in networking

Relationships are really crucial in life The majority of my opportunities come fromthe relationships I develop Although networking is sometimes misunderstood assimply a matter of "reciprocity," or "you assist me, I assist you," this is not the case.The act of forming true relationships and, as a result, forming a community, is at theheart of networking

To build such connections, you must first make a good first impression, then honestlyinteract with individuals by sharing experiences, hobbies, or aspirations, and thenreconnect to seek for chances

To develop such relationships, you must first make a good first impression, then talkhonestly with others by sharing experiences, hobbies, or ambitions, and last reconnect

to look for opportunities

1.3.3 Optimism

As a startup, we will only get nods, and only nods Prepare yourself psychologicallyfor this and don't think of it as a bad thing Make a list of entrepreneurs or influencersyou like, and read articles about their journeys and the aspects that aided their success.We'll see that the majority of them confront several obstacles and problems, whichthey conquer with unflinching trust in themselves and their objectives

1.3.4 Asking for assistance skills

It's critical to recognize that you require assistance, but it's also critical to comprehendwhat you want assistance for, why you want assistance, and to prepare yourpresentation The first step is to do your own investigation What exactly is the issueyou're having? Why do you believe that occurred? Consider it carefully andcompletely, and try to pinpoint the source of the problem Then, explore what industryprofessionals can do to assist you Before you talk, you must clearly and simplyidentify the problem you are experiencing, the breadth of assistance required, and whatyou are ready to do to address it

Find a mentor who can provide you with regular advise He or she may be in the samebusiness as you or possess the talents you want Thank you for your assistance Don'tsquander someone's time who is ready to assist you As a mentor, I find that the mostproductive sharing and consulting sessions occur when the client has a goodunderstanding of the above processes prior to our appointment Finally, put the advice

to use If you don't listen and follow the advise initially, the person who helped youthis time may refuse to help you again in the future

Finally, taking a step back and avoiding an impediment does not imply that you havefailed It's not always the best option Because of their experiences, don't fall into the

same traps as others The greatest method to cope with a situation is to learn fromothers who have gone through it personally.

CHAPTER 2: THEORETICAL FOUNDATION

2.1 What is the definition of a startup

A startup is a phrase that refers to organizations (businesses) that were formed with thegoal of producing products and services under unusual circumstances (mostuncertain) Entrepreneurship entails creating something of value that benefits theentire society or a specific social group Starting a business by developing a firmcontributes to the socio-economic growth of a country to some level

What are the most crucial aspects to consider while starting a business? When we talkabout the startup, we're talking about human aspects, context, and innovation Thenovelty that startups provide is a critical aspect The majority of the time,entrepreneurs band together to provide fresh and creative value for their consumers.Individuals who have a novel concept in the field of information technology and want

to launch a business What should you keep in mind throughout the initial phase? Thefirst step is to establish a precise development strategy for each phase, recruit morecollaborators (Co-founders), then consider the financial aspect (finding, solicitingfinancing), create product concepts, and establish a business

2.2 Business

The following signals can be used to understand the term business used in the Law onCompanies and the Law on Private and Business Enterprises in Vietnam:

The surgery must be carried out on its own Entities have the ability to do

business on their own behalf They make all necessary decisions for themselvesand are responsible for their own actions

Activities must be of a professional nature, that is, they must be performed in a professional, regular, and consistent way, and they must be the primary source

of revenue for the individual conducting them

Subjects are in charge of the operation with the goal of creating consistent

earnings