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Entre. Unit 1
Entreprenuership
Term | Definition |
---|---|
Entrepreneurship | Create or seize an opportunity for going into a business b/c you've tested the market and found a need |
Acts with Passionate Purpose | Identify consumer need, they have personal sacrifice involved, seek solution,act decisively,learn quickly,pursue goal and result |
Desires Independence | Possess drive to achieve and grow, realizes strengths & weaknesses |
Recognizes Opportunity | Identifies problems, strives for solutions |
Manages Risk | Invests personal savings & time |
Uses Resources | recognizes peoples strengths |
Small Businesses | create value |
Advantages of Being an Entrepreneur | Reap all the benefits, Flexibility, More control, Fulfilling |
Disadvantages of Being an Entrepreneur | Lose Security of constant paycheck, very long hours, unpredictable, total responsibility, stressful, great risk |