The five major trade show exhibit mistakes to avoid are:

1. Picking the Wrong Show to Exhibit In

By being distracted by an overly hectic work schedule and being short staffed and overworked, hastily made trade show decisions to exhibit in an upcoming trade show can backfire. Because you were unable to put the proper amount of time in to analyze who would be attending and exhibiting in the trade show, you wound up with the wrong
targeted audience. Without doing the proper research to learn about the qualifications of the trade show attendees and how they match up with your marketing goals, you are subject to missing your target and having an unrewarding trade show experience.

2. Selecting the Wrong Location For your trade show display

If you wait until the last minute to decide on exhibiting in a trade show, you may have to put up with a less than ideal location– behind a pole, at the end of a dead-end aisle, near loading docks, close to freight doors and ceiling water pipes or in a very dark corner. You may be relegated to a site far from the industry leaders, main attractions, guest services, entrances, exits, escalators, elevators, stairs, windows and seminar sites.

3. Having a vanilla-type trade show booth with no intrigue or style

Just imagine a line forming at the trade show exhibit next to yours where there are compelling, dramatic displays with lots of attractions, audios and interactive activity on their website, sensational giveaways and prizes, fresh brewed coffee and hot buns, dancing acrobats and an oversized TV screen with a luxurious lounge for the foot weary trade show attendee. Then imagine your trade show booth with nothing but a drape. Guess who gets the traffic.

4. Having your trade show booth staff poorly matched with your qualified prospects.
If you are attending a trade show that attracts primarily engineers, your trade show exhibit staff should be comprised of engineers who will be able to communicate with its audience in an informative, intelligent way. It’s that simple.

5. Allowing your trade show booth staff to waste time by talking to unqualified prospects. The key is to identify and classify hot prospects and the products and services they are interested in buying. There are new, sophisticated software packages that allow you to identify a half dozen weighted multiple choice questions in advance that will determine how viable a client prospect is. If you do not identify the hot leads and filter out those who are not qualified, then your trade show exhibit staff will only be spinning their wheels. They will spend unproductive time by talking to prospects that do not have the budget, who will be unable to meet a specific time frame and who do not have the ability or authority to purchase your product.

Remember, by avoiding the major pitfalls of novice trade show exhibitors, your trade show display experience will be able to stay on track and you will have a successful trade show exhibiting experience. This applies whether you have a custom trade show exhibit, a custom modular trade show display or a trade show booth rental. It also applies wherever you exhibit–be it the McCormick Convention Center in Chicago, the Kaiser Convention Center in Oakland, the Moscone Center in San Francisco, the Santa Clara Convention Center or the San Jose McEnery Convention Center.

Dick Wheeler is President of Professional Exhibits & Graphics, headquartered in Sunnyvale, California with showroom in Sacramento. Firm is full-service premiere trade show exhibit, graphics and management services company. http://www.proexhibits.com

Article Source: http://EzineArticles.com/?expert=Dick_Wheeler

Entrepreneurship is very appealing to women in leadership. You get to be your own boss and the challenges of building your own business can be exciting. Is entrepreneurship something that you have considered? Perhaps the idea of working for yourself sounds appealing, but you don’t know where to begin. Maybe you’ve worked a full-time job all of your life and are afraid of what working on your own might mean. Here are some things to consider as you think about entrepreneurship.

1) Get your spouse’s support: Starting your own business will take a lot of mental and physical stamina. You will work long hours and will likely spend many days and nights away from home networking, marketing and building your business from the ground up. Be sure to discuss what entrepreneurship will mean with your spouse and get his/her buy-in. Having your spouse’s support and partnership as you take on a new endeavor will provide you with the extra fuel that you need when the going gets tough.

2) Get your financial house in order: Entrepreneurship is rewarding, but also very risky. In fact, many small businesses spend more than they make the first year of business. Before you take the plunge, work to clear your consumer debt and create a nest-egg that you will be able to rely on. Perhaps you want to cut back on your hours at work to ensure that you still have some steady income and health benefits while you develop your small business.

3) Plan and prepare: According to the Small Business Administration, 50% of small businesses fail within the first year. One of the primary reasons they fail is lack of planning and preparation. Take the time to get advice from the Small Business Administration or local economic development corporation. You may even decide to invest in a business coach who can help you develop a solid business plan and marketing strategy.

4) Stay focused: Entrepreneurship requires self-motivation, stamina, persistence and focus. You will need to program your mind for success. In order to do so, surround yourself with other like minded individuals. Join your local Chamber of Commerce or join a mastermind group. Both will offer you the opportunity to network with other entrepreneurs who can share in your experience, provide helpful advice and even offer strategic partnership opportunities.

There is a lot to consider before becoming an entrepreneur, but if you plan and prepare it can be extremely rewarding and fulfilling.

Ellie Nieves, Esq. is a Speaker, Writer and Leadership Coach. Through 55-minute telephone coaching sessions and live seminars, she helps women develop leadership skills, set strategic goals, bolster effectiveness and create a personal brand. To learn more go to http://www.LeadershipStrategiesForWomen.com.

Article Source: http://EzineArticles.com/?expert=Ellie_Nieves

There has been tremendous proliferation of ‘get-rich quick’ internet schemes, and more often than not, these packages are designed to lure opportunists with the ‘get-rich’ mentality into forking out their pockets in hope of becoming the next ‘big thing’ on the Net. Contrary to this, being a successful internet entrepreneur doesn’t just happen overnight. Yaro Starak, a successful Australian entrepreneur, has this to say about ‘get- rich’ schemes:

“Here’s what you need to do. Stop buying products, look at what you have already, what you have learnt and where you think you could best leverage your skills.”

As is the same with brick-and –mortar entrepreneurship, internet entrepreneurship requires one to transform an idea into action. More often than not, it is a long process of perseverance and preparation, and the common reason for failed entrepreneurship ventures is more often due to laziness. Also, the lessons learnt in brick-and-mortar entrepreneurship must be applied to internet entrepreneurship, as elements like a strong idea for a product or service, solid understanding of the product or service, the customer, marketing principles and elements of financing ( CELCEE, 2003) must be factored in carefully. Furthermore, net-prenuers have to understand the dynamics of web technology in bringing their stores to the homes of their customers. These are considerations that a net-prenuer has to account for.

Above all factors, the defining characteristic of a true net-prenuer is one who has faced rejection, and has managed to overcome its hurdle. This was the case with Eric Smith, creator of eBay’s UnWired Buyer service, which alerts eBay buyers when their auction is ending and allows them to make last-minute bids by phone, using a phone firewall technology. The rationale behind UnWired is this: Buyers bid more often and bid higher when they use UnWired Buyer’s services, and the higher an auction goes, the bigger the payoff for eBay. eBay then pays UnWired an undisclosed percentage of revenue it gets when an Unwired Buyer user wins their auction. What most don’t know is that before the success of UnWired, Eric suffered a failed business opportunity in an earlier net venture utilizing phone firewall technology for online daters and users of social networking sites, who wanted to connect with potential matches without revealing their real numbers. Within a month of introduction, users found the service too expensive, as Eric had no way to lower the cost of that technology.

However, against all odds, Eric saw another opportunity, when his wife was telling him how she had been outbid again on eBay one day, as eBay did not have such a free phone bidding service back then. As the story goes, Eric proceeded to sell eBay his technological idea, and the rest of UnWired is history.

In summary, the story goes to show that internet entrepreneurship transcends more than a great idea, but solid character and action also plays a pivotal role in success. The ability to overcome a setback and not to be overcomed, is a net-prenuer’s greatest asset. To borrow a quote from Janelle Elms, “ make sure you’re using the “triangle of success””. That triangle comprises of 3 factors: “Character, Conscientiousness, and Consistency”. This is the heart of a successful net-preneur.

John Leow is a freelance internet marketer who desires to promote internet entrepreneurlism amongst the youth of today. His research favorites include analysing different types of internet marketing programs such as http://www.Profitlance.com He is also a guitar enthusasist and trainer, and his free guitar course can be found at Guitar-Werks

Article Source: http://EzineArticles.com/?expert=Leow_John

The process starts with the obvious: selecting the right trade shows to attend; designing a high quality exhibit booth to properly portray your company; and arranging to get the trade show display to the exhibit floor on time.

Your trade show exhibit builder has the expertise to help you make your event a success. But it can often be any one of the following pesky details relating to trade show services, which, if overlooked, can undermine an otherwise well-planned trade show experience.

Here are ten key recommendations from “Tips & Techniques for Exhibiting Success” by Nomadic Display:

1. Study the exhibitor service manual. The manual is the key to what you need to know about each trade show. As every show has its own set of rules, regulations and deadlines, carefully examine the manual’s information. Read the fine print in exhibitor instructions, delivery information and trade show services contracts. Complete the required registration and services order forms accurately and retain copies for future reference.

2. Make a list of all the trade show services you need. If you plan for your display requirements and order well in advance, you will avoid those costly last minute services that can play havoc with your trade show budget. Make decisions about the extra utilities you need, as well as carpeting, furniture, cleaning and security.

3. Understand the trade show floor plan. Analyze the exhibit hall floor plan and your booth location in respect to traffic flow and proximity to food courts, service entrances and sound system equipment. Examine plan specifications, however small, indicating ceiling heights, pillar locations, even heating and air conditioning ducting.

4. Identify utility sources. Contact the exhibit builder to determine how much electrical power you will need for your display. Always make provisions for backup utilities to guarantee that your power-driven components will function dependably. Check the trade show floor plan to find out where the utility ports are located with relation to your space.

5. Understand drayage. Drayage involves delivering your display materials from the loading dock to their assigned space, removing empty crates, returning the crates at the end of the show and transporting the re-crated materials back to the dock.
Save money by consolidating all equipment and containers as part of one single shipment.

6. Arrange for adequate carpeting. Install your utilities first before laying the carpet to reduce the number of carpet cuts for electrical outlets. Remember to order enough carpet to cover the bare concrete strip between the display and the aisle. Order a decent quality carpet and underlayment. Your trade show booth staff’s feet will appreciate it at the end of the day.

7. Allow extra time for customs if your company is shipping an exhibit overseas. You need the correct documentation for your container contents, which may be opened and inspected at a port of entry. Use a reliable custom house broker or freight forwarder to coordinate arrangements and keep you posted as to the progress of your shipment.

8. Get to know your trade show services representatives. These are the folks employed by the exhibition organization who are paid to be helpful contacts for exhibitors. They can be of great value to you by fielding your questions and finding ready solutions to any problems you encounter at the trade show.

9. Know how best to work with union labor. As union rules differ in each city, be sure to read the showplace manual to learn what union rules, regulations and charges apply. If you have questions, contact the trade show management or the
service contractor. Consider engaging your trade show exhibit display house to provide installation supervision in order to arrange for a problem-free setup.

10. Bring all important trade show related files, contracts and paperwork to the trade show. This includes copies of trade show floor plans, exhibit installation service orders, tracking documents for all shipments, contact names, phone, fax and email numbers.

Remember that attention to the myriad details of trade show planning and execution can make or break your trade show appearance. It is important that you are familiar with the trade show rules. Call upon the expertise of your exhibit builder and show services representatives to help you have a successful and seamless trade show experience.

Dick Wheeler is President of Professional Exhibits & Graphics headquartered in Sunnyvale, California. He has over 20 years experience in sales and marketing and has won numerous awards. His firm is a full-service premiere trade show exhibit, graphics and management services company with showrooms in Sacramento and Sunnyvale, California. Go to http://www.proexhibits.com

Article Source: http://EzineArticles.com/?expert=Dick_Wheeler

There are certain qualities attributed to the entrepreneurs. Entrepreneurs have to be the perfect embodiments of several qualities like – organization, integrity, patience, honesty and of course they need a big heart. If you are someone who has a great idea but are scared about implementing them just for the sake of failing, then you are not the perfect entrepreneur and it is not your cup of tea. Entrepreneurs have this strange ability of assessing the risks and then invest their money. There are many who are really not able to take that risk.

Entrepreneurship is a great way to accomplish the dreams. Entrepreneurship is also about risk taking; one has to have a lion’s heart. The instincts and the integrity to succeed can help you in this cause. There are many ways in which one can achieve big roles- trusting your instincts are just one of them. Though business is all about being calculative and assessing the permutations and combinations, still the entrepreneurship is all about risk and instincts. There are times when logically an idea may seem to be stupid and boring without much of an importance in that point of time, but as the years roll on that idea may yield millions. Take for example the internet marketing. Everyone in this world liked this concept but was very apprehensive about disclosing their assets on website. Now, it is the trend which everyione follows, everyone want to do an internet shopping. E-bay is the biggest example of spell bounding success. There are many instances where people have climbed from rags to riches just by believing their Instincts. If you want to make your own way up in the hierarchy working in an office that time will never come soon. Every new idea in this world is a creation of one’s instincts. Instinctive people are not vague thinkers they are very organized people who believe in their work and evolve every day.

Entrepreneurs are bound to trust their instincts. One must understand that instincts can curb a pavement through the most difficult times. These are times when should realize that one thing can help you out of this mess that is your instinct and your senses. Entrepreneurs have to be stubborn and hard headed at times because they are the pioneers. They must believe in whatever they are doing. The Harder a person Works on their ideas and dreams the more fruitful their instinct will turn out to be.

Looking for Freelance Writer!! Look No further…
FCWS Freelance Content Writer Services are pioneer in Content Writing since past 6 years.
We have provided more than 50000 articles, Ebooks, Reports, Research Work, Academic Writings and more with more than 1200 satisfied clients. We Have Expert Writers in All Niche Like Travel Writer, Finance Writer, Health / Medical Writer, Pets Writer Interior Designer / Home Improvement Writer, Internet Marketing / SEO Writer and Many More.

Visit our site Freelance Writer

Article Source: http://EzineArticles.com/?expert=Aakash_Shah

Think of your trade show display as the grand launch of your most valued
new product or business service. Give customer prospects your best look and greet them with your most competent sales staff.

Here are the tips on how to succeed at your next trade show:

Pick the Right Shows – Select the trade shows that your targeted market prospects and competitors attend. Check out trade show directories on the Web. Get statistics for show attendance and a profile of attendees. Talk to former exhibitors about their
trade show experience at the shows you select.

Plan Ahead -Determine the space size and dimensions of your trade show booth. Reserve a good location early for your booth by studying the floor plan. Avoid dead-end aisles, freight doors, poorly lit corners, obtrusive columns. Attendees usually turn right when they first enter the trade show exhibit hall and they look up so be sure to make your booth visible with dramatic overhead signage. Once you nail down your trade show booth number on the show management map, be aware of any booth rules and regulations that apply such as height limitations and any obstructions on show floor before planning your booth design.

Allow enough time to select, design and build a trade show display and take advantage of early show services discounts. You will be able to avoid costly rush charges and you are better able to insure against glitches. Identify the date of the trade show and also the move in date for your trade show display.

Set Objectives For Lead Development – Set trade show exhibit goals to reinforce your overall marketing objectives. Make sure the goals are reasonable and attainable, share them with your trade show exhibit team and set up systems to measure your results and validate your objectives.

Accurately qualify and measure your Return On Investment. There are software packages that allow you to identify a half dozen weighted multiple choice questions in advance that will determine how viable a client prospect is. You need to identify buyers, filter out those who are not qualified, and measure results. Rank your prospects as ” A” (highly qualified), ” B” (somewhat qualified), or “C” (poorly qualified) prospect. Have your sales force follow up on “A” leads immediately. Measure the results of these leads in stages from the number and dollar amount of proposals made to monies received from actual sales.

Build a Dramatic Display – Before deciding on what type of trade show booth you need, determine your space size requirements and determine the number of trade shows you will be exhibiting in the next 12 months. This information will help you decide whether to buy vs. rent. If you buy, there are three categories of trade show booths: custom, custom modular, and portable. Check out advantages and disadvantages of each. Light weight materials are less expensive to operate than the traditional all- wood displays. Use tension fabrics, woods, colored metal, layered graphics that use fewer shipping containers, have a current design trend look, and save on operating costs. Older traditional trade show exhibit booths can be obsolete because they are expensive to handle due to heavy weight, require larger size and number of crates to ship, and they are not consistent with current design trends.

Build Traffic by Being Creative- Start with a dramatic, attention-getting hanging sign. Upon entering the trade show exhibit hall the first thing attendees do is look up -Your overhead sign should have a unique design, shape and movement to it. Gobo lights traveling across a tension fabric can provide changing color and mesmerizing interest. New technologies bring high drama to your booth such as 3D video/laser image displays suspended above, your own interactive Website on large screen, robotics, holographics, waterscreen projections. Take advantage of your trade show exhibit supplier’s expertise on graphics, portability and cost management.

Recruit the Right Booth Staff – Although the sales function of your firm is usually fundamental to trade show exhibit booth staffing, you’ll want to make sure that you have representatives who match up well with the positions of those who visit your booth.
If engineers visit your booth engage them with your engineer personnel. Also, make sure your staff knows how to engage, identify and qualify attendees as important leads, and dismiss those who are not key business prospects.

Send Pre-Show Notices to Attendees – Trade show exhibit surveys report that three quarters of show attendees make out their schedule for exhibit visits and seminar attendance in advance. Set up meetings with clients, prospects, and press ahead of time. Contact them months ahead through direct mail, email and personal phone calls. Give them your trade show booth number and location and have an incentive at your booth that will be of value to them. Link your incentive to a direct prospect benefit and make it redeemable only by visiting your trade show exhibit. One example is to cut a numbered gift certificate in two and send half of it in advance and have the remaining half available only at your booth.

Understand Show Services – You will need to have supplemental assistance from show services at the trade show exhibit hall. These are representatives and union laborers who provide a range of support services which include installation and dismantling, carpeting, furniture, lighting, phones, drayage and security. If you are aware of the nuances of these services and plan in advance you can save money while avoiding numerous pitfalls.

Control Costs – Consider weight when buying a trade show display. You save substantially on trade show exhibits using lightweight materials that reduce the size and number of shipping crates.

Follow Up Immediately -The hard work doesn’t end when the show closes – this is when you have to diligently follow up on all those sales leads. It’s best to respond to your top level ” A” prospects immediately after the show. After the “A” prospects are all contacted, go on to the “B” level prospects. Be sure to have a well-planned strategy to close sales with these prospects. Tradeshow industry research shows that sales leads from a tradeshow are closed in half the time and at almost half the cost as leads from other sources.

Dick Wheeler, is President of Professional Exhibits & Graphics, headquartered in Sunnyvale, California. The firm is a full-service premiere trade show exhibit, graphics ,and management services company. Go to http://www.proexhibits.com

Article Source: http://EzineArticles.com/?expert=Dick_Wheeler

It is just a matter of time before virtual fairs become as popular as social networks. Social networks are limited to people who know each other through a certain degree of separation. Virtual trade shows, on the other hand, make chance encounters possible. Therein lies their power and potential.

1. Virtual tradeshows might connect businesses, but they fail to connect emotionally with business professionals. It is more interesting to hear of a real-life romance that grew out of an online dating site than to hear of a successful business deal through a lead found at a virtual trade show. Ever heard of two businesses falling in love with one another at an online matchmaker, and wanting to do business together? Even if we hear of them, there are perhaps very few scenarios in which they could become human-interest stories.
2. Virtual tradeshow participants do not like to share their success stories. When we piloted a trade show for the promotional products industry way back in October 1999, I did some follow-up calls to find out if any real inquiries and orders were generated. An exhibitor actually had someone place an order directly after visiting his virtual booth. Here’s the problem. For competitive reasons, he did not want me to publicize it. About a month ago I heard that a virtual exhibitor was talking about 2 contracts she won after online visits at her virtual booth from buyers of a large Fortune 100 corporation. Again, due to competitive reasons, she has avoided media attention. I heard that it took 15 years for sliced bread to become wildly popular. I believe virtual trade shows will have greater success once it is not such a well-kept secret.
3. Virtual trade shows are too transparent. Every click of the mouse can be tracked in a virtual trade show. Trade show organizers are more easily held accountable for the return on tradeshow that they deliver to exhibitors. The return on investment in a virtual trade show is easy to identify and analyze in absolute terms. In a real-world trade show, there are several subjective aspects that factor into a participants’ perception of whether they consider a trade show a success or not.
4. Virtual trade show is an underdog with no cheerleaders. Without exception, whenever I have mentioned virtual trade shows to marketers and exhibitors they have always expressed tremendous enthusiasm for its value. However, when perceived as a replacement to in-person trade shows it has evoked strong mixed reactions. Often a trade show gig is an escape from the cubicle. It is the time when one can combine a trip to exotic locales along with the family and have a mini-vacation. Virtual trade shows are not merely fighting misconceptions about what they can do for a business, but they actually compete with a marketing executive’s leisure time. Virtual trade shows shoot themselves in the foot when they try to position themselves as helping a business executive spend time with her or his family. Asking someone to give up in-person trade shows and do only virtual trade shows is like asking a connoisseur of chocolates to give up chocolate. Highly unlikely.
5. “There is no such thing as a virtual trade show”: This, quite literally was the welcoming remark of a veteran trade show industry executive whom I had gone to meet during our early years in business, as I was being ushered into his office. As he described the magic of bringing to life an in-person tradeshow, the magic of ‘getting it right’, the magic of bringing the right attendees in front of the right exhibitors year after year, the magic of seeing an empty convention center come alive over a 3-day period, the thrill of creating value and entertainment, I could see in his eyes the pride and joy of creation. He said it feels like a Hollywood movie maker. Virtual trade shows may very likely have to wait until they have learned to scale up in alternate untapped markets before they can earn the respect and the attention of veterans in the trade show and media industry. For now, it is like telling Formula One drivers that their races will be held in the video game arcade. In their present state, virtual trade shows can provide neither a comparable adrenalin-rush, nor the incremental financial incentive to get established trade show organizers excited about them.
6. The tradeshow metaphor is being carried too far. When we began in the late 90’s it made sense to borrow the trade show metaphor for these online events. Making a virtual booth look and feel like a real-world trade show booth helped users scale the learning curve rather well. However, the demographics of the workforce has changed significantly in the past decade. The new entrants to the workforce view the web as an extension of their universe. There is no need for a real-world metaphor to explain what one is trying to do with a virtual trade show. Why then should a virtual booth look like a real-world trade show booth. Why should one have virtual trade shows that have a panoramic 2-dimensional view of an exhibition hall with meaningless human-like figures gliding by aimlessly? Why are virtual trade shows not defining themselves to really provide an extra dimension to the entire marketing experience of a business. Why provide a metaphor when the virtual trade show can never replace the in-person trade show and is not designed to replace it?
7. Absence of standards on what an ideal virtual trade show should do is a major obstacle. We get inquiries for different kinds of online environments. It is not possible to describe them accurately with the term virtual trade shows. They serve various purposes. They always have a business objective. They aim to solve one or more problems. They often have nothing to do with in-person trade shows. However, the absence of standards for virtual trade shows means that it is open to anybody’s interpretation. When one looks at publicly accessible virtual trade shows, whether they be of HGTV or of the EPA, one never knows what to expect. The concept of same-time, different-place interaction as my co-founder aptly puts it, is missing most of the time. Making users go through meaningless convoluted pages of navigation only go to reveal that the virtual trade show suffered from lack of a clear direction, purpose or sense of ownership.
8. Use of traditional media to pull audiences into a virtual trade show is known to fail. We have learned this from experience. If you send me a post card in the mail reminding me of a virtual trade show, or if you put an expensive ad in the nation’s leading journal about a virtual career fair, I still can’t click through to enter.
9. Exhibitors and sponsors fail to take ownership of the virtual trade show experience being offered. Unfortunately, some of the virtual trade shows that I have experienced include cases where a media company goes through hoops to advertise the virtual trade show, pummels me with emails to stay on my radar screen, only to have no real human being available online during the live event, or have someone clueless and/or indifferent, who simply takes down an email address and phone number to pass on to the right person. Virtual trade shows fail when sponsors and exhibitors do not have sufficient skin in the game.
10. The feeling that anything online ought to be free. There are two problems with giving access to a virtual trade show for free even when a sponsor is supporting it fully. One is that without sufficient skin in the game, the groups that are supposed to show up online to make the virtual trade show a success, will more than likely not show up. Secondly, when a virtual trade show is delivered for free, it can not be adequately supported. An improperly supported virtual trade show in turn is a disservice to the users and to the concept itself. Just like in-person trade shows, a virtual trade show distinguishes itself by the quality of the traffic and interaction it can produce.
11. I danced even though I had sore feet. Trade shows usually are a lot of fun. Often they include a band and a dance floor. Virtual trade show producers then have a very poorly woven argument under which to take cover if they try to tell trade show participants that you can spare yourselves some sore feet at our virtual trade show. Sometimes, the ‘no sore feet’ argument sells, but it is not a sufficiently strong one to result in a sweeping acceptance of virtual trade shows.
12. Neither the green movement nor soaring gas prices can help virtual fairs become mainstream. While getting on the green movement is great, I hesitate to anchor the value proposition for our virtual trade shows on that argument. It is the same about spiralling gas prices. The virtual fairs have been compelling in their value even when gas was selling at $0.95 a gallon. It should be no different even if gas hits $8 a gallon. Virtual fairs have been compelling in their value well before see-through screeners at airports force us to spend an extra 10 minutes at the gym. No free-gas coupons here. Riding the latest news headlines have never helped virtual trade shows.

Ramesh Sambasivan is the co-founder of iTradeFair.com, Inc. [ http://www.iTradeFair.com ] He can be reached at ramesh [at] itradefair [dot] com. He blogs at http://blog.sambasivan.com

Article Source: http://EzineArticles.com/?expert=Ramesh_Sambasivan

The innovative ideas in entrepreneurship include the methodologies and strategies to manufacture brand new products with the aid of spurring advanced technologies to market in novel markets. Wealth creation is a major aim of any entrepreneur. Hence the entrepreneurship must be advanced enough to tackle the demand by generating valuable cost worthy products to the customers. The main qualities required in an entrepreneurship are a seasoned professionalism, discipline and a well structured approach to handle thing in an appropriate manner. Systematical qualification is the major eligibility of an entrepreneur. Opportunity assessment and harnessing the valid opportunities is a major chore in an entrepreneurship.

An overwhelming intention to succeed, competitiveness, a solid determination, self confidence, ground breaking ideas, readiness to accept variety, incited and energetic nature etc are the major requirements for an efficient entrepreneurship. A good entrepreneur must be outstanding from the mass. A well performing entrepreneurship must handle the team of human resources proficiently retaining the team spirit of each and every employee for the efficacy of a better wealth creation. Uniqueness plays a key role in entrepreneurship also. It is not sufficient that the entrepreneurship just survive, but thrive. Relentless performance is what entrepreneurship demands.

Rather than skills, perception matters in the case of entrepreneurship. The world of an entrepreneur is always on the verge of risks. Successful entrepreneurs will be aware of the uncalculated risks. Opportunity risk is of little importance in a venture when financial risks as well as credibility risks are considered. Financial risk is a major issue since monetary issues are in to the matter. The capital input may fails to produce fruitful results in the flourishment of venture causing financial risks. It can even lead to the complete destruction of an entrepreneurship. The personal risk is laden with emotional and relational entailment. Credibility risk and value risks are another types of risks associated with entrepreneurship. Here the market fails to retain the signature of the products due to some reasons like any collapse in quality, supply, promotion etc. The entrepreneurship must be well armed to face these risks associated with the business.

The rewards of an entrepreneurship hits in various forms. A substantial entrepreneurship must give the venture challenging advantages that would create wealth. The broad experience and well seasoned entrepreneurship that perfectly balance the risks and rewards can bring out a fruitful business. The economic growth of a country highly depends on the entrepreneur clusters. Thus there is an invisible colligation between a successful entrepreneurship and national income.

Article Source: http://EzineArticles.com/?expert=Devi_Anoop

In a world where ideas drive economies, it is no wonder that innovation and entrepreneurship are often seen as inseparable bedfellows. The governments around the world are starting to realize that in order to sustain progress and improve a country’s economy, the people have to be encouraged and trained to think out-of-the-box and be constantly developing innovative products and services. The once feasible ways of doing business are no longer guarantees for future economic success!

In response to this inevitable change, some governments are rethinking the way the young are educated by infusing creative thinking and innovation in their nation’s educational curriculum. In the same vein, they are putting much emphasis on the need to train future entrepreneurs through infusing entrepreneurship components within the educational system, especially at the tertiary level.

Some countries have taken this initiative to a higher level by introducing entrepreneurship education at elementary schools and encouraging them to be future entrepreneurs when they are of age. In a series of survey funded by Kauffman Center for Entrepreneurial Leadership, it was found that nearly seven out of 10 youths (aged 14-19) were interested in becoming entrepreneurs.

Being an entrepreneur is now the choice of the new generation as compared to the preferred career choices of yesteryears such as being a doctor, lawyer or a fighter pilot. In a recent visit to the bustling city of Shanghai in China, an informal survey was carried out among Chinese youths by the author. The results of the survey showed that being an entrepreneur, especially in the field of computer and e-commerce, is perceived as a ‘cool’ career and is an aspiration for many Chinese youths Prior to the ‘opening up’ of modern China, being an entrepreneur was perceived as the outcome of one’s inability to hold a good government job and those who dared to venture, were often scorned at by their peers. Times have indeed changed.

With this change in mindset and the relative knowledge that entrepreneurs bring forth increased job creations, the awareness and academic studies of entrepreneurship have also heightened. In many tertiary institutes, many courses of entrepreneurship and innovation are being developed and offered to cater to the increasing demand. The term “entrepreneurship” has also evolved with numerous variations. The proliferation of jargons such as netpreneur, biotechpreneur, technopreneur and multipreneur are coined to keep up with the ever-changing times and business conditions that surround us.

In view of these changes, it is important that the definition of entrepreneurship be refined or redefined to enable its application in this 21st century. To put it succinctly, “Good science has to begin with good definitions (Bygrave & Hofer, 1991, p13).” Without the proper definition, it will be laborious for policymakers to develop successful programs to inculcate entrepreneurial qualities in their people and organizations within their country.

The paper will provide a summary of the definitions of entrepreneurship provided by scholars in this subject area. The author will also expand on one of the definitions by Joseph Schumpeter to create a better understanding of the definition of the term “entrepreneurship” as applied in today’s business world.

Entrepreneurship through the Years:

It was discovered that the term ‘entrepreneurship’ could be found from the French verb ‘entreprende’ in the twelfth century though the meaning may not be that applicable today. This meaning of the word then was to do something without any link to economic profits, which is the antithesis of what entrepreneurship is all about today. It was only in the early 1700’s, when French economist, Richard Cantillon, described an entrepreneur as one who bears risks by buying at certain prices and selling at uncertain prices (Barreto, 1989, Casson 1982) which is probably closer to the term as applied today.

In the 1776 thought-provoking book ‘The Wealth of Nations’, Adam Smith explained clearly that it was not the benevolence of the baker but self-interest that motivated him to provide bread. From Smith’s standpoint, entrepreneurs were the economic agents who transformed demand into supply for profits.

In 1848, the famous economist John Stuart Mill described entrepreneurship as the founding of a private enterprise. This encompassed the risk takers, the decision makers, and the individuals who desire wealth by managing limited resources to create new business ventures.

One of the definitions that the author feels best exemplifies entrepreneurship was coined by Joseph Schumpeter (1934). He stated that the entrepreneur is one who applies “innovation” within the context of the business to satisfy unfulfilled market demand (Liebenstein, 1995). In elaboration, he saw an entrepreneur as an innovator who implements change within markets through the carrying out of new combinations. The carrying out of new combinations can take several forms:

The introduction of a new good or standard of quality;

* The introduction of a novel method of production;
* The opening of a new market;
* The acquisition of a new source of new materials supply; and
* The carrying out of the new organization in any industry.

Though the term ‘innovation’ has different meanings to different people, several writers tended to see “innovation” in the form of entrepreneurship as one not of incremental change but quantum change in the new business start-ups and the goods/services that they provide (egs, Bygrave, 1995; Bygrave & Hofer, 1991).

In the view of Drucker (1985), he perceived entrepreneurship as the creation of a new organization, regardless of its ability to sustain itself, let alone make a profit. The notion of an individual who starts a new business venture would be sufficient for him/her to be labeled as an entrepreneur. It is this characteristic that distinguishes entrepreneurship from the routine management tasks of allocating resources in an already established business organization. Though the definition tends to be somewhat simplistic in nature, it firmly attaches the nature of entrepreneurial action with risk-taking and the bearing of uncertainty by the individual (Swoboda, 1983)

In a Delphi study, Gartner (1990) found eight themes expressed by the participants that constitute the nature of entrepreneurship. They were the entrepreneur, innovation, organization creation, creating value, profit or non-profit, growth, uniqueness, and the owner-manager. The themes could be seen as a derivative and expansion of Schumpter’s earlier concept.

Expanding on Schumpeter’s Definition:

After digesting the numerous definitions of entrepreneurship, one would tend to see a strong link between these two terms: entrepreneurship and innovation. In retrospect, most of the definitions tended to be, to some extent, a re-work and expansion of Schumpeter’s definition of entrepreneurship (which is that of innovation being applied in a business context).

As defining the term of ‘innovation’ is highly debatable and would merit a paper on its own, the author has thus, for convenience, summarised the definition of innovation. Innovation can be perceived simply as the transformation of creative ideas into useful applications by combining resources in new or unusual ways to provide value to society for or improved products, technology, or services.

In the author’s opinion, the difficulties of defining “innovation” could be the reason for the quandary one finds in attempting to arrive at a clear-cut definition of the term “ Entrepreneurship”.

Take for example, if someone starts another run-of-the-mill hot dog stand in the streets of New York, will he termed as an entrepreneur? According to Drucker’s definition, he will be seen as one. However, if the above definition by Schumpeter was used as a guideline, the answer is probably ‘NO’.

Why? The core of the matter lies in what is so innovative about setting up another hot-dog stand which are in abundance in New York. On the contrary, if he is the first one to start a stand selling hot-dogs with Oriental Sweet and Sour sauce topping; he could be termed as an entrepreneur (even based on Schumpeter’s requirement) as he has done what others have not done before. In the context of entrepreneurship, creativity and innovation are key points in the whole scheme of things.

In this manner, by adding “innovative” features to a product or services and setting up a business based on these additional features to compete in the existing market, new entrants may be able to gain this competitive advantage over existing market players.

In the case of the hot-dog seller, it may be argued that his addition of Oriental Sweet and Sour sauce toppings may be seen as nondescript. This runs in contrary to some scholars’ definition of entrepreneurship as requiring quantum changes in the products/ services to be justified as being entrepreneurial (Bygrave, 1985; Bygrave & Hofer, 1991).

Consistent with creating new products for sale, someone who starts a business by providing a totally new way of serving his customers/ clients is considered to be entrepreneurial too. Though, it is often argued that there are no real new products or services in a case where one does not look to the past products and services for ideas for improvements. Thus, the notion of incremental improvements should be accepted as being innovative too.

Innovation in the business sense may not necessarily involve, in the physical sense, the introduction of a new product or service. It can be in the form of what is commonly known as creative imitations. For example, if an individual starts selling a product that is already common in his area or country, he will not be seen as being entrepreneurial. However, if he is the first to sell the same product in a virgin locale or to an untouched market segment, he will be seen as an entrepreneur in his own rights.

Take Muhammad Yunus, for example. Yunus became an entrepreneur when he started a micro-loan program for the poor villagers in a rural part of Bangladesh named Grameen, with only US$26. The loan was divided among 42 villagers to assist them to buy small items such as combs, scissors, needles and other necessities to start their own home businesses. In the past 22 years, Grameen Bank has grown with over $2 billion loans granted. It has now become a model for several micro-loan facilities.

>From the following example, Yunus created banking and lending facilities in Grameen specifically for the poor villagers. Banking and lending money activities are not new but Yunus was the first to provide such facilities in a rural part of Bangladesh and that is definitely innovation and risk-bearing on his part as a social entrepreneur. In short, innovation need not arise mainly from a new product or service but it could be an old product or service finding a new market for penetration.

An individual could be termed as an entrepreneur if he or she sells a product or service using new systems and/ or mediums of marketing, distribution or production methods as a basis for a new business venture. A good example will be Jeff Bezos, the founder of Amazon, the successful Web-based bookstore. He was one of the first to sell books on a large scale using an online store and also patented the one-click system for online buying. Though selling books is not an innovation in itself, Jeff Bezos was innovative in the use of the Internet then as a viable marketing and sales channel for selling books.

Another example from the field of e-commerce is Stuart Skorman, the founder of Reel.com. Reel.com is essentially one of the first cyber movie store with a very large inventory of over a 100 000 videos. Though setting a movie store was revolutionary then, Reel.com main distinction was being known as the first online store to expand by opening an offline store. The founder felt that by doing so, the online store could be an advertisement for the offline store and vice versa, thus strengthening this click and mortar business venture- an example of creativity and innovation applied in a profitable business context.

Conclusion:

This paper has started as an attempt to redefine the term of entrepreneurship but ended up ‘updating’ the wheel, based on the definition as proposed by Schumpeter. The paper expanded on this influential work by giving examples to illustrate what innovation in entrepreneurship was and hope that along the way, new insights were unearthed in the study of defining entrepreneurship.

In summary, the author hopes that this paper would further encourage the infusion of creative thinking and innovation within the educational system to nurture future entrepreneurs with a competitive edge. In the author’s view, the characteristics and capabilities to set up a new business venture based on doing things that have not done before should be encouraged. Innovation needs to be the cornerstone of entrepreneurship as opposed to the mere setting up of another new enterprise without implementing changes or adding features of improvements to the products and services provided and/ or its business processes.

About The Author

Dr. Alvin Chan is a Senior Research Consultant at First Quatermain Centre of Collaborative Innovation (www.firstquatermain.com).

For reprints permission, please contact bizguru88@hotmail.com

Article Source: http://EzineArticles.com/?expert=Alvin_Chan

Social entrepreneurship initiatives are ventures that can serve as a method of increasing the social value of a community, organization or cause while enhancing the financial viability of a not-for-profit organization. With this being stated, social entrepreneurship has been defined in different ways by many different theorists. Gary McPherson, Executive Administrator of the Canada Centre for Social Entrepreneurship, states that social entrepreneurship involves various individuals working toward meeting social and economic goals simultaneously; while Bill Drayton, CEO of Ashoka, defines social entrepreneurship as a term coined to describe “individuals who combine the pragmatic and results oriented methods of a business entrepreneur with the goals of social reform.”

A more basic definition of social entrepreneurship states that it is “the process of using entrepreneurial and business skills to create innovative approaches to social problems.” Therefore, it is a methodology that is presently being used to resolve community and societal concerns globally. Social entrepreneurship as an area of specialized entrepreneurship is not defined by the same titling in every culture. For example, in Latin America countries social entrepreneurship initiatives are referred to as “Micro Enterprise.” In India the same program would be identified as a “Social Mission.” Though termed differently in various regions, social entrepreneurship initiatives are being implemented to solve specific societal and community concerns by focusing on the needs and resource availability within specific geographic regions.

Social Entrepreneurship in Education Throughout the United States, many top tertiary level academic institutions are enhancing their business programs by including a curriculum that caters to the study of social entrepreneurship. In 2003, the Center for Responsible Business was launched on the University of California Berkley Campus. This subsidiary of the Haas School of Business was implemented with the intent of training students to be more principled and socially responsible members of society through attending “the preeminent educational institution in area of Corporate Social Responsibility.” Stanford University also has established a Center for Social Innovation as a part of its graduate school of business. This center was founded with the mission to “build and strengthen the capacity of individuals and organizations to develop innovative solutions to social problems for a more just, sustainable and healthy world.”

In 1993, Harvard Business School started its social enterprise program with its mission of “generating and sharing knowledge to help individuals and organizations to create social value in the not-for-profit, private and public sectors,” and the University of Miami has refocused its business school curriculum to include coursework in the areas of ethical-decision making, social entrepreneurship and community engagement with the primary focus being to expose students to various areas of civic engagement while concurrently teaching them leadership and team building skills.

Tertiary level institutions, including Duke, which has established a Center for the Advancement of Social Entrepreneurship as part of its Fuqua School of Business, and Columbia University where the research initiative on social entrepreneurship is embedded in its school of business, have also made strides to enhance the study and education of those seeking to venture into areas of social entrepreneurship and social venture implementation. The Association to Advance Collegiate Schools of Business-International (AACSB – International) has identified over twenty-four tertiary level institutions that have included social entrepreneurship as a part of their business college and or business curriculums.

With social entrepreneurship being perceived by many as a new way of stimulating social change, Idee Winfield believes that the implementation of community-focused service learning projects is the first step in exposing youth to the various attributes associated with social entrepreneurship. Through community involvement, youth will begin to visualize and experience the various social issues within their community and envision ways to solve these problems. Winfield states that social entrepreneurship should be promoted in primary and secondary education, and coursework should be adjusted to allow students to “see how abstract socially focused concepts can have real world applicability.” Jeffrey Soderborg, a member of the Kauffman Center for Entrepreneurial Leadership Clearinghouse on Entrepreneurship Education, is also an ardent proponent of social venture education who believes that social entrepreneurship would be more readily accepted if youth were exposed to information expounding the laurels of these initiatives during their primary and secondary academic years.

As youth expand their horizons through the establishment of entrepreneurial efforts, knowledge and exposure to information about the process involved in the establishment of entrepreneurial business effectively plays a major role in the rate at which business entities are established. A study focusing on entrepreneurial interests among black youth ages 14 to 19 identified that 75% of the youth surveyed had interest in becoming entrepreneur. The study also found that these minority youth believed that more information about entrepreneurship should be presented through their schools. They also believed that entrepreneurs have a responsibility to reinvest in their community.

Corporate Social Responsibility

Personal values often serve as the justification for entrepreneurs to focus organizational efforts on socially focused ventures. The organizational decision to forgo pursuing financial gain with the intent of using the corporations’ profit resources to enhance a community is often referred to corporate social entrepreneurship. Corporate Social Entrepreneur (CSE) is a term used to describe corporate initiatives whose primary focus is to enhance a social concern and whose secondary focus is financial gain. The corporate social entrepreneur differs from the financial profit seeking entrepreneur in the area of decisions made that affect the community and environment in which their organization functions. Research identified that in corporate social entrepreneurship business acumen serves as a factor in the success or failure of social venture initiative implementation. Research identifies that success factors associated with the implementation of social responsibility initiatives were linked to whether the entrepreneur exhibits behavior that is moral, amoral or immoral.

The amoral entrepreneur would pursue initiatives only if they were deemed acceptable by the organization as a whole. The immoral entrepreneur implements initiatives based on what can be potentially gained for self as well as for the stakeholders, while the moral entrepreneur would pursue social responsibility initiatives based on what was in the best interest of the organization. Individuals identified as corporate social entrepreneurs are individuals who are more active in community activities and are actively involved in social responsibility efforts. Corporate social entrepreneurs also are more likely to implement social responsibility initiatives based on an organization’s long term objectives.

While many corporations are looking for ways to increase their social responsibility efforts, in some regions corporate responsibility efforts are not progressing. A policy paper, “Corporate Social Responsibility in Latin America and the Caribbean,” documented that corporate social responsibility activity in this region has “stalled.” The reason for stagnation in this region is “minimal government involvement” and the lack of “private sector involvement.” It was also identified that initiatives to implement programs focusing on social responsibility are often initiated outside of the market, and then subsequently not embraced by stakeholders who reside within this geographic region.

Corporations are continually looking for ways to increase corporate advantage through their social responsibility efforts. While proponents of corporate social responsibility believe that corporations are obligated morally to engage in efforts to enhance social, community and environmental concerns, many stakeholders believe that social involvement should only be initiated if the efforts are going to strengthen the organization’s image, brand, moral or stock value. With this in mind, corporations have separated social issues into specific categories.

These categories are social concerns that are general, social concerns that are value chain based and concerns that focus on social dimensions of competitive contrast. Generic social issues are identified as social concerns that do not directly affect the company’s operation and do not have an effect on a company’s competitive advantage. Corporations are least likely to get involved or invest in projects that focus in these areas because they will not receive a high value of return on their involvement. Value Chain Social Impact issues can significantly affect a company’s operation and can have an impact on the way a company conducts business. Corporations are more likely to be involved in value chain concerns, but only after conducting due diligence studies to ensure that a return on investment will be achieved over time.

Social issues that affect a company’s financial profitability or serve to enhance or increase a company’s competitive edge are likely to be areas that a company will invest in because of the direct impact that these initiatives will have on the company’s overall viability and stability. An example of a social dimension projects is General Electric’s investment in under-performing high schools throughout the country. General Electric believes that through investing financial and professional resources in under-performing high schools in areas where they have substantial financial investment, they are investing in enhancing a community, as well as directly increasing their future employment prospects.

Whole Foods Market is an organization that has taken control of its social value position through purchasing products from local farmers. Also, Whole Foods maintains strict controls over all of the products produced and sold in all of its locations. They even have extended their social and ecological efforts through offsetting the use of in-store electricity with the installation of wind conversion generators, converting their trucks to operate on bio-fuel and trucking spoiled produce to regionally located compost sites. Though the investments in these technologies may be costly at the onset, the long term financial, civic and market exposure benefits far exceed any initial costs incurred.

In the area of corporate philanthropy many corporations are at a loss. They continue to be involved in the conflict between philanthropic giving and investor requests for increased profits. For this reason many corporations engage in context-giving programs. Context-giving programs are programs that are defined as allotting resources to specific projects that will enhance the community while simultaneously enhancing the corporation.

Examples of context-giving initiatives include the Cisco System Networking Academy, which trains computer network administrators and provides job opportunities to those who complete the program; the DreamWorks SKG film production program that trains low-income individuals in occupations that are needed in the film and entertainment industry; and American Express Travel and Tourism Academy which trains high school youth for careers in the hospitality and tourism industry. Corporations that invest in corporate-giving social venture programs are concurrently gaining positive return on their social investment, improving the economic climate of the communities where they are located and gaining positive exposure for their organizations.

At times social ventures do not have the intended impact on the community. A study focusing on the impact of community focused business ventures found that businesses started with the intent of enhancing a community often lose focus by becoming focused on profitability and competition. Competition and self-focused motivators were identified to be factors that played an additional role in the impact and economic role that entrepreneurial ventures have in community settings.

While many foundations, trusts and philanthropic organizations, accumulate and distribute resources with the intent of providing services to enhance specific community or social causes, many of these organizations are looking for ways to gain public exposure for their efforts. Organizations also attempt to leverage their gifting efforts through seeking not-for-profit organizations that are willing match the funding received. The success of funded programs is evaluated through performance outcomes and indicators, and through promoting the organization’s work through success stories provided by program clients. These methods are viable ways for funding agencies to acquire value and exposure through their philanthropic efforts and simultaneously continue their efforts to enhance the communities in which they invest.

With the social philanthropic efforts of Warren Buffet and Bill Gates gaining a high degree of attention, and many leaders engaging in activities to promote social advocacy, corporations are seeking ways to also gain exposure with social entrepreneurship. Social entrepreneurship from the corporate perspective can be defined as corporate social initiatives used by a corporate entity as vehicle to show support for social causes. In recent years, many Fortune 500 companies have implemented social ventures with the intent of enhancing their corporate image through providing funding for various social causes.

McDonald’s is one such company that has funded social causes for many years. McDonald’s primary social venture is the Ronald McDonald House Charities. The Ronald McDonald House provides lodging for the families of adolescents, ranging in age from birth to 18, who are receiving critical care for illness in communities that are away from their community of residence. The Ronald McDonald House allows families to reside in these temporary living facilities throughout the child’s period of treatment at no charge.

The Federal Express Corporation also funds programs focused on the implementation of socially responsible programs. FedEx is a supporter of St. Jude’s Children’s Hospital and has been acknowledged by Reader’s Digest as one of “Americas Best Charity Minded Corporation.” Federal Express has also been recognized for providing funding for numerous community and civic organizations, including March of Dimes, Heart to Heart organization, an organization that focuses on delivering food and health resources globally, the United Way and the National Civil Rights Museum. These are just a few of the charitable initiatives that allow Federal Express to present itself as a socially conscious organization.

Virgin Mobile has partnered with Youth Noise, a not-for-profit organization that brings youth together for networking and brainstorming opportunities, and Stand Up for Kids, the largest all volunteer not-for-profit organizations in the United States, to implement an initiative to expand its corporate social responsibility activities. The project involves recording artists donating ring tones to Virgin Mobile and through partnership agreements, 5% of the proceeds received through ring tone sales are donated to various “Virgin Mobile Charity Partners.” This initiative, established in June 2006, is being positioned to raise over $250,000 annually.

For social ventures to gain global acceptance, corporations need to become involved in ventures that allow employees and consumers to see the social, community and external benefit of these ventures. This process is identified in countries south of the United States, where the concept of social responsibility is one that has been embraced by many but implemented by few. Many government organizations expect non-government, or private organizations to take responsibility for ensuring the stability and longevity of the resources throughout this region while the private sector is looking toward government agencies for intervention.

Paul Van Putten, is an educator, entrepreneur and business consultant in the areas of social entrepreneurship, entrepreneurial start-up, marketing, media management and leadership engagement. Dr. Van Putten has seamlessly transitioned between both academic and corporate environments having served as a College President and Corporate CEO. He has also served as a consultant with national and international organizations. http://www.nationaletc.com

Article Source: http://EzineArticles.com/?expert=Paul_Van_Putten