Chapter 1-3 Key Takeaways

CHAPTER 1 : Top 3 Takeaways
Entrepreneurs vs. Small Business Owners
Advantages and Disadvantages of Business Ownership

The Entrepreneurial Journey
-




Entrepreneurs and Small Business Owners
Entrepreneurial activities :
innovation
-




running a business
-
risk taking

* the key difference between the two is innovation us .
existing markets *

Small Business Ownership

Advantages Disadvantages
-

independence -

financial risk
-


Lifestyle -

Stress
-financial rewards =

Time commitment
-


Learning opportunities -


Undesirable duties
-Creative freedom


7 Steps on the Entrepreneurial Journey
-


inspiration
-

preparation
-

Assessment
-Exploring Resources (finance human resources tangible/intangible
, ,


-


Business Plan (Business Model Canvas)
-



Navigation (backup/ Contingency plan)
Launch
-