The Basics
Accepting the risk of starting a business.
What is entrepreneurship?
A group of experienced people from different areas of business who join to form a management team with the skills needed to develop, make and market a new product.
What is an entrepreneurial team?
Independently owned and operated
Not dominant in its field
Meets certain standards of size, as set by the SBA (Small Business Administration), in terms of employees and annual receipts
What qualifies as a small business?
The snack that smiles back?
What is Goldfish?
This business was started in 1964. It makes almost anything an athlete needs, but is most famous for shoes. It’s swoosh logo is one of the most recognizable in the world.
What is Nike?
Opportunity
Profit
Independence
Challenge
Why people take the entrepreneurial risk?
People who work as entrepreneurs within corporations.
What are intrapreneurs?
Take over a firm
Learn from others
Get some experience
What are ways can you learn more about small business operations?
This chicken based fast food restaurant just recently came about and is closed on Sundays.
What is Chick-fil-a?
This hotel chain is the largest in the world. It includes hotels like Embassy Suites, and DoubleTree.
What is the Hilton?
Self-directed
Self-nurturing
Action-oriented
Highly energetic
Tolerant of uncertainty
What does it take to be an entrepreneur?
Employee who came up with the idea of Post-It-Notes?
Who is Art-Fry?
Getting new customers
Managing time
Keeping work and family tasks separate
Abiding by city laws
Managing risk (review home insurance policy, renting rules, etc.)
What are challenges of working from home?
This huge fast food chain is in over 126 countries on six continents.
What is McDonald's?
This clothing brand was started in Germany in 1949. Its founders name is Adi Dassler. While it makes products for all sports it is most used in the soccer community. It’s 3 stripe logo is very recognizable.
What is Adidas?
Russell Simmons started this major record label.
What is Def Jam Records?
Entrepreneurs who start and manage a business that remain small, because it lets them do the kind of work they want to do and offers a balanced life style.
What are micropreneurs?
Starting off too big instead of starting small
Underpricing or overpricing goods/services
Forgetting about taxes, insurance, and other costs
Poor planning
What are reasons some businesses fail?
It's finger lickin' good.
What is Kentucky Fried Chicken?
This phone provider is the largest telecommunications company in the United States?
What is Verizon?
What do I want, but can never find?
What product or service would improve my life?
What really irritates me and what product or service would help?
What are the questions to turn your problems and passions into opportunities?
Computer technology
Corporate downsizing
Social attitudes have changed
Tax laws (home office expense deductions)
What are reasons for growth of a home based business?
Personal customer attention
Manage employees well
Know your customers
What are small business success factors?
This food company makes foods for humans, dogs, cats, and many more animals. It’s toll house chocolate chips are one of its most popular products.
What is Nestle?
The Big Four television networks are the four major commercial broadcast television networks in the United States.
What is ABC, CBS, NBC, & Fox?