11-5 includes 4-7 review - Management Ch 6,7,8 Entrepreneurship is the process of initiating a business venture o There are many reasons to go into

11-5 includes 4-7 review - Management Ch 6,7,8...

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Management Ch. 6,7,8 Entrepreneurship- is the process of initiating a business venture o There are many reasons to go into business o Always use other people’s money o Small business make up about 50% of the private sector economy o Business plan should be no more than 12 pages o The prime reason for entrepreneurship is autonomy o You must preserver for a long time to succeed o Starting a business requires a high-energy person o We provide social value by fixing social issues o Small loans are small loans to get business off the ground o Business plan Careful planning is crucial Great writing essential What will the legal status of the business Get incorporated it distances you from the liability Debt financing- borrowing money that will later be returned Equity financing- selling ownership right to people in order to raise money Do You Think Like an Entrepreneur? What Is Entrepreneurship? Impact of Entrepreneurial Companies o Entrepreneurship Internationally o Entrepreneurship in the United States Who Are Entrepreneurs? o Minority-Owned Businesses o Women-Owned Businesses o Traits of Entrepreneurs Social Entrepreneurship Launching an Entrepreneurial Start-Up o Starting with an Idea o Writing the Business Plan o Choosing a Legal Structure o Arranging Financing New Manager Self-Test: Perceived Passion o Tactics for Becoming a Business Owner
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o Starting an Online or Mobile App Business Learning Outcomes After studying this chapter, you should be able to:
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