What it takes
What age is required to become an entrepreneur?
None
Who is the founder of Ford automobiles?
Henry Ford
What is an important factor when starting a business?
money, location, and workers
Give an example of a reward
prizes, money, a service, a product, etc...
What are three characteristics of a successful entrepreneur.
Adaptability, confidence, motivation, passion, risk taking, open minded, curiosity, decisiveness, persistence, etc...
What are two characteristics of an entrepreneur?
Determination, Hard work, Perseverance , Leadership etc...
Who is the founder of JC Penny department stores?
JC Penny
What are resources needed to begin a business?
Land and labor
As an Entrepreneur what do you control?
wages, hours, business, employees, etc.
What is sole proprietorship?
is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between the business and the owner.
Entrepreneurs must know what to sell. What two things can businesses sell?
Who is the founder of Microsoft?
Bill Gates
What is an advantage to starting your own business?
no debt and no bad reputation
What are some risks?
a gain, a loss, or failure, bankruptcy, and investing. Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks.
Name a skill a successful entrepreneur has?
Strategic thinking and planning skills.
What are trends that a business goes through?
expansion, recession, depression, recovery(the business cycle)
Who created Facebook?
Mark Zuckerberg
What is a way to become an entrepreneur?
buy a business, take over a family business, or start a business
What is a form of business organization?
sole proprietorship or partnership
How can you learn entrepreneurship?
take a mini course in business.
What is something an entrepreneur must know?
regulations, the economy, the market, etc...
Who is the founder of Wal-Mart & Sam's Club?
Sam Walton
What is an advantage to finding a target market?
understanding who to sell to, producing a product/service that will sell
What is a business venture?
Are entrepreneur born or made?
entrepreneurs are not born they are made.