Miscellaneous
Side Hustle
Small businesses employ more than _____% of the US Workforce.
50%
This famous entrepreneur co-created Microsoft and many other companies.
Bill Gates
1. Can make your own schedule
2. Flexibility
3. Be your own boss
4. Can be creative
5. build an enterprise
6. Do what you enjoy
ETC...
Who is the richest man (entrepreneur) in the world?
Elon Musk
An _______________ is someone who recognizes a business opportunity and organizes, manages, and assumes the risks of starting a business.
A small business serves a limited geographic area and hires less than __________ people.
500
This famous entrepreneur owns Amazon
Jeff Bezos
Entrepreneurs contribute to the economy and help to create __________.
Jobs
Why is a growth plan important in a business plan?
It shows the business can grow beyond the initial stage of development.
A business plan has ______ essential parts.
15
A business that operates on the Internet is called:
.com or virtual business
What company did Steve Jobs co-create?
Apple
Name 3 challenges of becoming an entrepreneur:
1. Getting Funds
2. Being fully responsible
3. Fear of Failure (bankruptcy)
4. Work LONG hours
5. Uncertain income
6. Feeling alone and insecure
Why are entrepreneurs important to the American economy? (2 reasons)
They create new products and services, and create jobs.
A written description of a new business venture that describes all aspects of the business
Business Plan
The US government agency that protects and supports small businesses:
Small Business Administration
This entrepreneur created Facebook.
Mark Zuckerberg
The "BIGGEST" challenge (risk) of being an entrepreneur and starting your own business.
Financial Risk
Why should entrepreneurs carefully study their competitors before starting a business?
To know they are competing against, allowing them to figure out how they will attract customers.
Once an entrepreneur discovers a good business opportunity, the next step is to
do _______ ________.
market research
A ___________ is a new business undertaking that involves risk.
Venture
Who is Warren Buffet?
Once the world's richest many, created Berkshire Hathaway company
The main reason people become entrepreneurs:
Being your own boss
Name 5 personal characteristics of successful entrepreneurs: