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MGMT 473 - • W oman O wned B usiness • M inority O wned...

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MGMT 473 Ch. 1 • Customer, communication are 2 most important words for entrepreneurs • Entrepreneur: have an idea, do something with the idea, to create a business with scarce resources • Must have passion/desire/drive • 3 ways entrepreneurs are needed o inventors / innovators o government giving space for tax increase o CEO’s expanding • Intrapreneurship o Business started in a company that already exist • Entrpreneur’s got their big boom start around 1980 • Minority must own at least 51% • Law says that minority owned businesses must have fair business
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Unformatted text preview: • W. oman O. wned B. usiness • M. inority O. wned B. usiness Ch. 2 • Hire people that are similar, that are smarter than you • Independence is a big time characteristic for becoming entre. • Bootstrapping/ don’t have to have much money to start business • Bigger the risk does not equal a bigger reward • Business plan is not required for success • Mentors are important because they tell entre. What they don’t want to hear...
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