Professional Documents
Culture Documents
Be shorter
Focus on the opportunity, not the venture
Have no computer-based spreadsheet
Be the basis to make the decision on whether to act on an
opportunity or wait until another, better opportunity comes along
B. It should include:
1. A description of the product or service
a. What is the market need for the product or service?
b. What are the specific aspects of the product or service
(include any copyright, patent or trademark information)?
c. What competitive products are available filling this need?
d. What are the competitive companies in this product market
space? Describe their competitive behavior.
(cont.)
(cont.)
Characteristics of an Entrepreneur
1. An entrepreneur is most commonly the _____ child
in the family.
a. oldest
b. middle
c. youngest
d. doesnt matter
c. widowed
d. divorced
Characteristics of an Entrepreneur
(cont.)
d. forties
e. fifties
d. forties
e. fifties
Characteristics of an Entrepreneur
7. To be successful in an entrepreneurial venture,
you need:
a. money
b. luck
c. hard work
d. a good idea
e. all of the above
c. planners
d. doers
(cont.)
Characteristics of an Entrepreneur
(cont.)
c. small-risk takers
(take few chances)
d. doesnt matter
11. Entrepreneurs:
a. are the life of the party
b. are bores at a cocktail party
Definitions
Entrepreneurship
Entrepreneurship is the process of creating something
new with value by devoting the necessary time and
effort, assuming the accompanying financial, psychic,
and social risks, and receiving the resulting rewards of
monetary and personal satisfaction and independence.
If you aint the lead dog, the scenery never changes.
Intrapreneurship
Entrepreneurship in an existing organization.
It is easier to beg forgiveness than to ask for permission.
Market-Oriented vs.
Controlled Economies
MarketOriented
Economy
ControlledOriented
Economy
United
States
Cuba
Oriented Toward
Innovation And
Innovative Activity
Long-term thinking
Going concern
concept
Investment
Community
Banks
Venture
capitalists
Informal private
investorsangels
Entrepreneurship
Culture Strongest
In World
Work Environment
Desirable
1. Cultural
2. Subcultural
3. Family
4. Teacher
5. Peers
Disruption
Possible
1. Government
2. Background
3. Role Models
Develop
Business Plan
Title Page
Table of Contents
Executive Summary
1. Description of
Business
2. Description of
Industry
3. Marketing Plan
4. Financial Plan
5. Production Plan
6. Organization Plan
7. Operational Plan
8. Summary
Appendices (Exhibits)
Resources
Required
Existing resources
of entrepreneur
Resource gaps and
available supplies
Access to needed
resources
Manage the
Enterprise
Management style
Understand key
variables for success
Identify problems
and potential
problems
Implement control
systems
Develop growth
strategy