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26 Cards in this Set
- Front
- Back
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One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.
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What Is an Entrepreneur?
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"Characteristics of Entrepreneurs
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International opportunities"
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"Feeding the Entrepreneurial Fire
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Corporate dropouts"
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The Cultural Diversity of Entrepreneurship
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Small Businesses…
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"Ten Deadly Mistakes of Entrepreneurship
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Avoiding the Pitfalls of Small Business Failure
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Just because you think you need something, don't assume the public will want it, need it or be willing to pay for it. Ask as many people as you can for their feedback. An honest reality check at this point can save you a lot of time and grief later on.
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1. MISJUDGING THE MARKET
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A business plan, which you will need, in any case, if you want to obtain outside capital, forces you to think about your goals for the future of your company. The plan must answer the question: "What makes you think you can do this better than present competition?" If at all possible, write it yourself rather than relying on a canned business plan. And keep in mind that it's only a guide. A plan is vital, but it's not written in stone.
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2. NOT HAVING A BUSINESS PLAN
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In almost all start-up situations, whatever you think you'll need won't be enough. Many people believe that once they start the business it will provide for their needs. But with most small businesses, you don't take money out. You're constantly putting money back into it, especially early on. Remember that if your needs exceed your cash or available credit, you'll most likely fail.
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3. MISCALCULATING THE CAPITAL REQUIRED
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Starting a business and running it, particularly in the early stages, take a huge amount of time and effort. It it's important to you to spend the bulk of your time with family and friends or on hobbies, founding a business is almost certainly not the best thing for you.
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4. UNDERESTIMATING THE TIME A BUSINESS REQUIRES
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If you're going to start or run a small company, you need to know a little bit about everything involved. Even if you have the capital to hire an accountant, a sales manager or a production manager, you'd better know enough about each of their jobs to determine how they're per forming. You can't assume that people know what they're doing or that their interests are the same as yours.
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5. NOT HAVING THE REQUISITE SKILLS
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6. SETTING YOUR PRICE TOO LOW OR TOO HIGH
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7. NOT CONSIDERING LEGAL ASPECTS
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8. CHOOSING THE WRONG PARTNER(S)
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9. NOT UNDERSTANDING EMPLOYEE ISSUES
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10. WRONG LOCATION
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Creativity –
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the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives; doing new things.
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Innovation
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Barriers to Creativity
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Tips for Enhancing Organizational Creativity
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Transformation Incubation Illumination Verification Implementation"
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The Creative Process
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Patent –
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any distinctive word, symbol, design, name, logo, slogan, or trade dress a company uses to identify the origin of a product or to distinguish it from other goods on the market.
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Trademark –
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Servicemark –
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Copyright –
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