Entrepreneurship Guided Notes 2019

An entrepreneur is:

• Willing to start his own business

• Able to start his own business

• Willing to take a risk

• All 3

Starting your business from scratch instead of buying an already established business:

• Requires the most planning

• Takes more time than buying an existing business

• Is the most expensive way to go

• Two of these

Unsuccessful entrepreneurs:

• Are poor money managers

• Do not create a business plan

• Have a poor work ethic

• All of these

Successful entrepreneurs:

• Set high goals

• Prepare a business plan

• Have low expectations

• Two of these

Entrepreneurs need these skills:

• Computer skills

• Communication skills

• Both of these

• None of these

An intrapreneur:

• Works in a large company or coporation

• Comes up with great ideas--is creative

• Both of these

• None of these

Small businesses:

• Have fewer benefits than large ones

• Have more benefits than large ones

• Are the most profitable.

• None of these

About ________ % of people will work in a small business.

• 30%

• 50%

• 60%

• 80%

A disadvantage of starting your own business is:

• You may not make a profit for many years

• You cannot give your employees many benefits at first

• You have to fill in for an employee if he/she does not show up for work

• All of these