Ellis Mitchell - Start Up Business: How to Start Up Your Business Today, Strategic Management Approach

START UP BUSINESS: HOW TO START UP YOUR BUSINESS TODAY, STRATEGIC MANAGEMENT APPROACH

Book 2

By Ellis Mitchell

I wrote this book because Building a successful enterprise while also fostering strong family ties presents unique challenges. The entrepreneur cannot measure success by financial gains alone, but must consider personal satisfaction and a well-balanced family life as well.

My new serial books START UP BUSINESS can help you to get the healthy Balance between Business and Family Life to Achieve True Wealth and Happiness is a book for all entrepreneursboth waiting-to-be entrepreneurs contemplating the idea of striking out on their own and those already involved in running their own businesses. If you are considering the possibility of launching your own company, I offer encouragement; if you have vision and the willingness to work hard at something about which you are passionate, you too can succeed as an entrepreneur. If you have recently become an entrepreneur, this book will help you to draft a blueprint for your own career.

Throughout this account of my career, I stop on occasion to point out lessons I have learned from my experiences. You will see that they are very basic and fundamental.

In Book 1 START UP BUSINESS: HOW TO START UP YOUR BUSINESS TODAY, A COMPLETE GUIDE FOR BEGINNERS we discussed the initial basics and characteristics of the Entrepreneur personality, resources and possibilities START UP BUSINESS: HOW TO START UP YOUR BUSINESS TODAY, A COMPLETE GUIDE FOR BEGINNERS and now in the second Book we are going to discuss in more details the strategic management as one of the most important factors of success.

This is not the first book by a successful entrepreneur that offers advice by sharing personal successes and failures, and points out lessons that can help readers chart a course to financial and personal success. Numerous books have been written by academics and business entrepreneurs that lay out business theory, occasionally citing cases that support their approach to business management and development.

I hope you will let me show you how you too, can become an entrepreneur, achieving success in business as well as in family life. The rewards can go far beyond the accumulation of material wealth.

In Book 1 we learned together the 6 main following points:

1. Understand the concept of ENTREPRENEUR and what is the specific criteria that control the success of your new business

2. Avoid the mistakes that many of the new Entrepreneurs falls in at and after the start-up stage

3. Know more about the Entrepreneurs profile, characteristics, personalities, and needed skills.

4. Realize the benefits and opportunities behind owning a small business.

5. Learn how to avoid the main draw backs facing the Entrepreneurs.

6. Understand the culture diversity of the Entrepreneurs.

In Book 2 we will be able to understand the 5 following points:

1. Understand the importance of strategic management to a small business.

2. Learn how to create a competitive advantage for your business in the market.

3. Develop a strategic plan for a business using the nine steps in the strategic planning process.

4. Discuss the characteristics of three basic strategies: low-cost, differentiation, and focus.

5. Understand the importance of controls such as the balanced scorecard in the planning process.

A young self-motivated Author with Great Entrepreneurship experience in several countries.

Started his journey about 30 years back and now he is one of the well know Entrepreneurs in the world.

START UP BUSINESS: HOW TO START UP YOUR BUSINESS TODAY BOOK 1 A COMPLETE GUIDE FOR BEGINNERS

START UP BUSINESS: HOW TO STARRT UP YOUR BUSINESS TODAY Book 2 Strategic management

START UP BUSINESS: HOW TO STARRT UP YOUR BUSINESS TODAY Book 3 how to Choose a Form of Ownership Coming soon

If you enjoyed this book or find it useful, Id be very grateful if you would post short review on Amazon, your support really does make a difference and I read all of the reviews personally so I can get your feedback and make that book even better.

If you would like to give a review, then all you need to do is click the reviewer link on this books page on Amazon here

Thanks again for your support.

TO REVIEW BOOK 1 USE THIS LINK START UP BUSINESS: HOW TO START UP YOUR BUSINESS TODAY BOOK 1 A COMPLETE GUIDE FOR BEGINNERS

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1. Understand the importance of strategic management to a small business.

2. Create a competitive advantage for our business in the market.

3. Make an efficient strategic plan for a business using the nine steps in the strategic planning process.

4. Know the full introduction for characteristics of three basic strategies: low-cost, differentiation, and focus.

5. Understand how to evaluate the importance of controls such as the balanced scorecard in the planning process.

1. Vital and usually over-looked.

2. Mostly, entrepreneurs launch businesses destined for failure because their founders never stop to define a workable strategy that sets them apart from their competition.

3. Entrepreneurs often find the process of developing a strategy not important.

a) Their tendency is to start a business, try several approaches, and see what works.

4. Companies that missing the clear strategies may achieve some success, but as competition go harder or an unanticipated threat arises, they usually fall down.

5. Without a basis for differentiating itself, the best a company can hope for is to be a medium size company in the best case.

1. Any business not thinking and acting strategically is extremely Negotiable damage.

2. Every business is exposed to the forces of a rapidly changing competitive environment, and in the future small business executives can expect even greater uncertainty like,

a) Political changes.

b) Advanced Technology.

c) More competition.

3. The biggest change business owners face is unfolding now.

• The shift in the world's economy from a base of financial to intellectual capital.

4. A companys intellectual capital is likely to be the source of its competitive advantage in the marketplace.

Intellectual capital is comprised of three components:

• human capital

the talents, skills, and abilities of a companys workforce.

• structural capital

the accumulated knowledge and experience that a company possesses, including forms such as processes, software, patents, copyrights.

• customer capital

the established customer base, positive reputation, ongoing relationships, and goodwill a company builds up over time with its customers.

5. The Knowledge Revolution will spell disaster for companies that are not prepared for it, but it will give tremendous opportunities for entrepreneurs who are equipped with the strategies to exploit it.

• The rules of the competitive game have been dramatically altered.
• To be successful, entrepreneurs can no longer do things in the way they have always clone them.

6. Strategic management involves developing a game plan to guide the company as it strives to accomplish its vision, mission, goals, and objectives and to keep it from straying off its desired course.