Introduction to Entrepreneurship & Small Business Operations

This a process that requires hard work, perseverance, and the willingness to assume some degree of risk.

• Managing

• Entrepreneurship

• Grit

• Perseverance

Entrepreneurs often start their business while working for another company, this allows them:

• to increase their income.

• to practice community service.

• spread themselves too thin

• focus 100% on their new venture

Entrepreneurs do not receive a regular paycheck. This means that entrepreneurs:

• make lots of money.
• have an uncertain income

Entrepreneurs will work very long hours – often 7 days a week. This means that:  

• plenty of time will remain to pursue personal and family interests.
• personal interests will often take a backseat to the business.

To be successful, the entrepreneur must:

• ignore the needs and wants of customers.

• focus on serving the needs and wants of customers.

He is the entrepreneur behind SpaceX and Tesla Motors. His goal is to change the world and improve humanity.

• Neil Armstrong 
• Elon Musk 

Anyone can be an entrepreneur and:

• you must be 21 years of age to get started.

• you must have another job

• you can begin at any age.

Entrepreneurs must be willing to risk the chance of failure in order to be successful. What important characteristic of entrepreneurs is this?

• Risk-taking
• Perseverance
• Creativity
• Self-confident

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The ability to use imaginative skills to find unique ways to solve problems.

• Grit

• Creativity

• Self-Confidence

• Perseverance

Belief in oneself and one’s own abilities with an expectation to be successful.

• Grit

• Creativity

• Self-Confidence

• Perseverance