F.E.T.C.H.EntrepreneurshipOpportunity CostEfficiencyProductivityCapitalismBusinessStart-UpTraining
Mine Yuh Own Bizness!
We'll teach you how to start your own businesses and get paid for your newly acquired I.T. skills.
- The entire business start-up process
- Feasibility Study
- Business Plan
- Marketing Plan
- Budget
- Business Incubation
- Growing Your Business
- Actually Running Your Business
- Getting Paid...For Real!
- Basic Book-keeping
- Intro To Taxes
- Tax Reporting Requirements
Entrepreneurship = Economic Self-sufficiency
Entrepreneurs drive America's economy, accounting for the majority of our nation's new job creation and innovations. According to the U. S. Census Bureau's 2002 Survey of Business Owners, self-employed individuals who have no paid employees operate three-fourths of U.S. businesses.
The U. S. Small Business Administration reports that America's 25.8 million small businesses employ more than 50 percent of the private workforce, generate more than half of the nation's gross domestic product, and are the principal source of new jobs in the U.S. economy.
Entrepreneurship is an employment strategy that can lead to economic self-sufficiency for anyone who gives it their best effort. Particularly in a slumped economy, self-employment provides people with the potential to create and manage businesses in which they function as the employer or boss, rather than merely being an employee.
Nearly 80 percent of would-be entrepreneurs in the United States are between the ages of 18 and 34! A 2005 poll from Junior Achievement (JA) found that 68.6 percent of the teenagers interviewed wanted to become entrepreneurs, even though they knew that it would not be an easy path. In spite of this overwhelming interest, however, youth rarely receive any information about entrepreneurship as a career option.
Here at the F.E.T.C.H. Program we seek to prepare people, old and young alike, to be responsible, enterprising members of a larger community who become entrepreneurs or entrepreneurial thinkers by immersing them in real life learning experiences where they can take risks, manage the results, and learn from the outcomes.
Won't you come and join us on a Saturday afternoon 2 pm to 4 pm and help us, help you, get that business idea you've long wanted to pursue off the ground?
For further information please feel free to call (786)286-1218 or email us at info@fetchprogram.org
An entrepreneur as an agent of change
Entrepreneurship
By Russell S. Sobel
An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit.
An entrepreneur who takes the resources necessary to produce a pair of jeans that can be sold for thirty dollars and instead turns them into a denim backpack that sells for fifty dollars will earn a profit by increasing the value those resources create. This comparison is possible because in competitive resource markets, an entrepreneur’s costs of production are determined by the prices required to bid the necessary resources away from alternative uses.
Those prices will be equal to the value that the resources could create in their next-best alternate uses. Because the price of purchasing resources measures this opportunity cost— the value of the forgone alternatives—the profit entrepreneurs make reflects the amount by which they have increased the value generated by the resources under their control.
Entrepreneurs who make a loss, however, have reduced the value created by the resources under their control; that is, those resources could have produced more value elsewhere. Losses mean that an entrepreneur has essentially turned a fifty-dollar denim backpack into a thirty-dollar pair of jeans. This error in judgment is part of the entrepreneurial learning, or discovery, process vital to the efficient operation of markets. The profit-and-loss system of capitalism helps to quickly sort through the many new resource combinations entrepreneurs discover.
A vibrant, growing economy depends on the efficiency of the process by which new ideas are quickly discovered, acted on, and labeled as successes or failures. Just as important as identifying successes is making sure that failures are quickly extinguished, freeing poorly used resources to go elsewhere. This is the positive side of business failure.
Successful entrepreneurs expand the size of the economic pie for everyone. Bill Gates, who as an undergraduate at Harvard developed BASIC for the first microcomputer, went on to help found Microsoft in 1975. During the 1980s, IBM contracted with Gates to provide the operating system for its computers, a system now known as MS-DOS. Gates procured the software from another firm, essentially turning the thirty-dollar pair of jeans into a multibillion-dollar product. Microsoft’s Office and Windows operating software now run on about 90 percent of the world’s computers. By making software that increases human productivity, Gates expanded our ability to generate output (and income), resulting in a higher standard of living for all.
Sam Walton, the founder of Wal-Mart, was another entrepreneur who touched millions of lives in a positive way...
These are just some of the lessons we teach in our Entrepreneuirship Education Classes.