Chapter 6 - Chapter 6 Entrepreneurship and Starting a Small...

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Chapter 6: Entrepreneurship and Starting a Small Business Advantages: more personalized service and personal contact, greater flexibility, and innovation opportunities. Do not necessary have to be big, growth in home-based businesses. Disadvantages : Limited experience, long hours, insufficient capital (underestimate required start-up capital, cash flow problems) in addition there is an extremely high failure rate. Step 1. The Right Attitude: Do you have what it takes to be an entrepreneur? -Willing to take risks. -See opportunity amidst change. -Motivation to succeed; passionate about your product. -Flexible and self-directed. Have own inner fire and motivation. -Work well with others, and possess good leadership skills. In order to succeed must be able to sell ideas; lead and manage workforce. -“System Thinker” able to see the big picture rather than individual pieces of it. “Must be able to see the forest from the trees.” Step 2:Come up with a newer or better idea. Start with an idea that excites you.
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Chapter 6 - Chapter 6 Entrepreneurship and Starting a Small...

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