Intro to Entrepreneurship

Entrepreneurship is

• a. copying something new of value

• b. exposing something new of value

• c. creating something new of value

• d. recognizing something new of value

Which is not a characteristic of an entrepreneur?

• effective communicator

• boastful

• persistence

• initiative

Who can be a entrepreneur?

• Only rich people

• Only business people

• anyone with an idea

• only smart people

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

An entrepreneur is someone who works for themselves.

• True
• False

Most entrepreneurs work long hours, but they create their own schedule.

• True
• False

A target market is

• a group of investors willing to put capital into a business

• a generational group of individuals

• a group of consumers at which a product/service is aimed

• an industry willing to sell and market your product

Which trait or characteristic would describe a successful entrepreneur?

• Lazy

• Shy

• Bossy

• Self Starter

Why do you need a business plan?

• To explain your idea

• the ability to get financing.

• it's a road map that sets objectives and goals for the business.

• To help reduce the risk of business failure.

• All of the above.

An analysis of the business’s advantage over its competitors

• Growth Plan
• Competitive Analysis
• Contingency Plan
• Market Analysis