Corporate Entrepreneurship
Steve Jobs is an example of what?
Corporate Entrepreneur
What is a startup?
A newly established business
Why is having a business plan important?
A business plan helps entrepreneurs focus on the steps necessary for them to make their business succeed and helps them to achieve their goals.
What percentage of startups are successful each year?
10%
Do you need a college degree to start a business?
No, it may be helpful but it does not disqualify you from becoming an entrepreneur.
What is another name for big corporate companies?
Fortune 500 companies
What is a venture?
A risky project or business idea
On average, how much money do you need to start a business?
According to the U.S. Small Business Administration, most small businesses cost around $3,000 to start.
Which country has the most startups?
United States
Can you still be successful in creating a startup if you are young?
Yes, it can sometimes be better to be young because you can learn and grow along the way.
What does corporate entrepreneurship set the context for?
Innovation and growth
What is a side hustle?
Slang for your side project or business
How much money should you pay your employees when starting a business?
40%-80% of your business revenue should go towards your employees salaries.
How do companies typically start?
They begin with high costs and limited revenue.
Can you be successful if you do not have a perfect business plan?
Yes, some entrepreneurs do not even have a business plan. But, it is extremely helpful to have and you are more likely to fail if you do not have one.
What percent of the top 100 most innovative companies are implementing corporate entrepreneurship?
65%
What is a trademark?
A symbol, words, or a phrase officially registered for a company
Name 2 of the best ways to find people to hire.
Some of the best ways to find people to hire are to use free job boards, advertise on social media, ask for referrals, and attend job fairs or host career days.
How many founders does it take to begin a startup?
There is no limit to the number of entrepreneurs to begin a startup.
Do you need to have a lot of money to start a business?
No, many entrepreneurs seek out loans from the government or from friends and family.
What is a con of corporate entrepreneurship?
It may divert sources of profit to other areas of the business.
What is a strategic alliance?
A relationship between two companies that helps both companies reach their goals
How much money should you pay yourself when starting a business?
Around 30 percent of your net income.
Name 2 ways start-ups typically fail.
Money runs out, lack of research, ineffective marketing
Can you be successful in creating a startup if you do not have a background in business?
Yes, it may be helpful to have a background in business but it is not necessary. Although, most entrepreneurs do have some background in business.