Entrepreneurship: The Business Plan

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Entrepreneurship : The Business Plan

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In 1995 , eBay was founded by a French born Iranian computer Engineer Pierre Omidyar which is now the world 's largest online market place where practically anyone can sell and buy anything practically at any time .According to business week it is nothing less than a virtual self regulating global economy . Within a period of 2 years since it launch it received a

5 million funding from capital investment firm benchmark capital (eBay Inc , n .d

The first product sold on this auction website was a laser pointer worth 14 .38 . Benefits to the customers offered by EBay are clear , it 's an open trading platform where the market determines the price of the products sold this determination is according to the simple demand and supply laws of economics . It also provides a clear view about what the customers require the most a given time

EBay , an auction website proved to be the most innovative idea in the history . To continue with the success of the company Pierre Omidyar hired Jeffery Skoll as the first employee and the first president of the company in the late 1996 . Jeffery Skoll himself was a very talented and well educated individual with an Electrical Engineering Degree from University of Toronto and a Masters of Business Administration from Stanford University . He earned his way through his graduation school and was experienced personnel of business and technology when he joined EBay . Jeffery Skoll is a philanthropist and he has being honored many times for his generosity and good deeds . He chairs the Skoll Foundation which is the largest Social Entrepreneurship Foundation in the world

He is also the CEO of Participant Productions . This is a Los Angeles based media company which promotes social values for the interest of the society . These many other traits of the co- founder Jeffery Skoll which complement each other . He along being a talented , well educated person is also a socially responsible person who runs a foundation for the young entrepreneurs to provide them with a ground to build a future and career for themselves

EBay was already a profitable business when Jeffery Skoll joined the company . He however played a very important role in EBay being a success story . When he joined EBay , he wrote a business plan for the company to follow as a start up to the road of success

According to the founder of the company Pierre Omidyar he never thought that he would make a company of his own any day but this was the passion of his work and motivation towards the increase scope of technology that attracted him towards first web designing and then on the complain of his girl friend about how difficult it is to find someone with the same passion and hobby as internet he opened a small auction store on his website...