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Business plan
A roadmap of the business’s goals and objectives, and the strategy and details of how those goals and objectives will be achieved.
Researcher Entrepreneurship
An entrepreneur who spends more time researching an idea before pursuing the venture, focusing more on data and facts, versus intuition.
Vision
An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.
Intrapreneur
Someone who exhibits the traits and/or skills of an entrepreneur as an employee within a company, without taking as much risk (and therefore often receiving not as much reward) as an entrepreneur.
Contract Employee
An employee who is hired for a specific job at a specific rate of pay; a contract employee is not considered a permanent employee.
Resourcing
Where you gather together the necessary elements needed to start a business, including money, and the most important resource, people.
Entrepreneurship
The process of identifying opportunities, cultivating resources (time, money, energy, people), and creating a business to solve problems.
A feeling of suitability for a particular career or occupation
Vocation
Entrepreneur
Someone who identifies an opportunity by creating a solution to a problem, starts a business, assumes the personal and financial risk (and rewards) of the venture, and strives for constant improvement in an effort to grow the business and improve society.
Gig Economy
A labor market involving temporary, flexible, freelance jobs, often using technology to connect workers with those who are hiring.
Step 1 of the entrepreneurial process
Discovery
Large Company Entrepreneurship
Scalable start-up that became a large company, while still trying to preserve their entrepreneurial nature.
Financial Risk
The risk that financial stakeholders will lose money
Who is Spencer Silver?
Spencer Silver was a chemist.
Home-based business
A company that is operated out of someone's residence
Sara's background
She was a former Disney World ride greeter and also sold fax machines door-to-door.
Buyer Entrepreneurship
This type of entrepreneur buys existing businesses and tries to grow them further.
Innovation
The introduction of something new; a new idea, product, method, device, or service.
What did Spencer Silver invent?
Spencer Silver, a chemist, developed a high-quality "low-tack" adhesive that eventually became the “secret sauce” for the Post-It note.
Self-employed
An individual who is their own boss
Final stage
Harvesting
Scalable Startup Entrepreneurship
This type of entrepreneur intends to be innovative and even disruptive, and to build a profitable business that can grow quickly
Small Business
According to the United States Small Business Administration, generally companies with fewer than 500 employees are considered “small” businesses.
What did Steven Sasson invent?
Steven invented the portable digital camera.
Solopreneur
These are one-person operations, where someone starts and runs the business by themselves, with no additional partners or staff.