Sunday, 6 March 2016

Entrepreneur notebook

Entrepreneur's notebook is a notebook where entrepreneurs can keep the information about their business. When the entrepreneur is setting up his/her industry then for example when the construction work for the office building is going on then the supervisor who is supervising the work gives a daily report to the entrepreneur like how much work is completed on that day, the expenditure made on that day, the materials to be purchased the next day, the transportation cost to be met to bring the material to the factory site next day, number of labourers already engaged and how many more are required to be engaged the next day, technical person required etc. He is asking for money to buy those things and arrange for the transportation of the goods to the factory site, and give daily wages to the labourers.

The entrepreneur's note book is really a handy and efficient tool that can be used to note down the daily expenditure made on labourers and material and to keep a daily report on the work completed, the next day expenditure on material and labourers required so that day to day progress is there in the note book and the entrepreneur can refer to those daily notes to see as to how well the money is being utilized in setting up the industry. In addition, visits of the financial institutions officials and representatives of the supplier of the machine date wise along with their names could be maintained in the notebook and the date of the delivery of the machine could also be there in the note book. The delivery date of the machine in the note book will help the entrepreneur in visualizing how many days are left in the moratorium period/holiday period (moratorium period is given by the financial institution to the entrepreneur to settle down before the start of the repayment of loan) to be over before the start of repayment of loan. The money deposited as security money with the Electricity Board and the date on which it was deposited could be maintained in the notebook for fast reference. The date on which the electricity connection was given if it is there in the notebook to refer then that would help the entrepreneurs to know how much time they are taking for production and if it is delayed production then how much delayed it is (delayed production is loss of money) to keep the entrepreneurs on their toes. How much payment has been made to the raw material supplier etc if it is there in the notebook then this will help the entrepreneur to remember it at a glance in times of doubt.

The note book can contain the entrepreneurs scheduled meetings with the different stakeholders/partners, and weekly plans - so that it is easy for entrepreneurs to compare the profits and losses inside the business and the improvements made and to be followed and the talk with the buyers if it is there in the notebook then that would help the entrepreneur in remembering what they said and the next step to prepare.

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