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19 Cards in this Set
- Front
- Back
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Entrepreneurship |
The process by which either an individual or a team identified a business opportunity and acquires and deployed the necessary resources required for its exploitation |
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Freelancers |
People who create work and get paid for it by independently contracting with a larger organization, team, or institution |
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Consultants |
People (or teams of people) who advise, strategize, and sometimes execute on projects for an organization, team, or institution |
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Side Hustle |
Allows someone to be an entrepreneur in a venture without having to quit their full time job |
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Entrepreneurship is Important because: |
Innovation Change (speed of) Change Management (competitive advantage) Black Swans (non-obvious ideas) |
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Bootstrapping |
Using whatever is available to you (I.e. maxing out credit cards, borrowing money) to bring a business to market |
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Important Business Skills for Entrepreneurial Success |
Management Sales Marketing |
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Intrapreneurs |
Behaving and thinking like an entrepreneur but within a large organization |
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The Development of Entrepreneurship in the Medieval Period began with the stride to… |
Have better living conditions Grow town/village populations Establish safe trade routes to the east |
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Main Traits of Successful Merchants in the Mercantile Period |
Transferring capital back into trad business Paying taxes Building monopolies |
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Dutch speculative activity eventually created |
The stock market |
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Christopher Columbus big idea |
Opening trade routes to the East |
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Chinese junk ships go around the Indian ocean to.. |
Have a “show of force” to other nations |
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Most Important aspects of Josiah Wedgewoods contributions to entrepreneurial innovations in 1700’s |
Innovation - Idea Entrepreneurial - Scale |
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Human Relation skills for Entrepreneurial Success |
Empathy Courage Decision Making Listening |
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Important Financial Skills every entrepreneur must possess |
The ability to determine how to raise money (loan, giving away equity in exchange for capital) When to spend money |
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Drawbacks of Entrepreneurship |
Lack of Management Support Lack of Management perceiving long-term value |
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Drawbacks of Entrepreneurship |
Lack of Management Support Lack of Management perceiving long-term value |
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Most important entrepreneurship aspects for 21st century |
Leveraging low to no cost digital tools Using other people’s capital |
