Entrepreneurship: BE you own BOSS...

If you do not like to be under the command of an annoying, demanding, unreasonable boss... then I suggest
YOU be your own BOSS!!!

Well, as easy as it sounds, you need to consider quite a number of factors before you BE your own boss. First you need a business. You need to view and study the market. You need capital to start your business. Being an entrepreneur is not a walk in the park. You need to be determined, confident and of course unafraid to risk-taking. Before venturing into entrepreneurship, it would be helpful to conduct a self assessment to see if you are ready for the multitude of tasks ahead of you (StraitsTimes).

Questions you should ask yourself before you embark on your entrepreneurial voyage:

Question 1: Are you self-aware?

Question 2: Are you self-confident?

Question 3: Are you self-disciplined?

Question 4: Do you have a high level of self-esteem?

Question 5: Are you self-motivated?

Question 6: Do you know your self-worth?

Ponder upon these questions and see if you are ready to be your own boss... =)

Nur Scarflet... The Budding Business...

This semester, we will be covering consumer education and yes... we will get a chance to be entrepreneurs!!! Honestly, I was both excited and scared as I was not sure of what to expect. My group, comprising of Jehan, Nurul Ain, Fattasha, Nadira and myself have embarked on our entrepreneurship experience by forming Nur Scarflet, an online business whereby we will be selling to the scarves, shawls and brooches. Starting off was a bit rough as all of us were unsure about how to go about doing it, and most of all, we are doubtful that we are able to attract the market and make some sales.

Nur Scarflet was first founded in 19 January 2011. Looking at the marketing trends lately, we noticed that there are many online businesses that are operating their sales in facebook. It was simple, convenient, cost effective and efficient. Thus, we set up a Nur Scraflet facebook page, where we will upload our stocks on facebook and attract potential customers to view our page and hopefully they like something they see.

It is no doubt that there are many challenges that we faced. One of it was sourcing for the materials. We need to find outlets where they sell items (such as scarves, shawls and beads) at wholesale prices. This is crucial so as to ensure that we could minimise our expenditure so as to maximise the returns. We need to buy stocks at very cheap costs and sell them at common market prices of these items.

Though we just started our sales, we received great number of responses from facebookers. This is when, networking plays a big role. We tag friends on our stock albums, in turn (with hope) that their friends will see our page and recommend it to their friends and so it goes on...

For now, we are still working to keep the business running by bringing in more stocks ( more designs), attracting more potential customers and of course, providing the

best service we can to our valued customers who have supported us. =)

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