Types of Entrepreneurs
This entrepreneur chooses to remain small, focusing on one business and simple operations.
Micropreneur
Written roadmap that outlines goals and operations of a business.
Business plan
Small businesses are essential because they create jobs and do this for the economy.
Innovation
Researching customers and competitors before launching.
Market research
Flexible labor market where workers are hired as freelancers or contractors.
Gig economy
This entrepreneur starts a business and takes financial risks in hopes of profit.
Entrepreneur (classic)
Approximately this percentage of U.S. firms are small businesses.
99%
Key quality of entrepreneurs: refusing to quit
Persistence
Using websites and online tools to reach customers worldwide.
E-commerce
This person builds innovative ideas within an existing company.
Intrapreneur
Money borrowed that must be repaid with interest.
Debt financing.
A major reason small firms remain competitive: they can do this quickly to meet customer needs
Adapt
Short-term funds used to cover daily operations.
Working capital
Selling products to customers in foreign countries.
Exporting (global business)
This entrepreneur creates ventures to solve social or environmental problems.
Social entrepreneur
Funds gained by giving up partial ownership.
Equity Financing
Common cause of small business failure due to poor money management.
Cash-flow issues
Professional who provides expert business advice for free through SCORE.
Mentor
Entrepreneurs who focus on long-term environmental responsibility.
Sustainable entrepreneurs
These investors use their own money to fund early-stage startups.
Angel investors
Financial document showing revenue forecasts and funding needs.
Financial Plan
Government Agency offering support, loans, and training to entrepreneurs.
SBA
Digital fundraising method where many individuals contribute small amounts.
Crowdfunding