Entrepreneurship Accepting the risk of starting and running a business Why people take the entrepreneurial challenge cid 127 Opportunity the American dream Profit Independence Challenge thrive on risk seek achievement more than power Entrepreneur attributes Self directed Self nurturing Action oriented Highly energetic Tolerant of uncertainty taking risks develop make and market a new product them a balanced lifestyle the affiliate sends to its website support to reduce start up capital needs Small Business entrepreneurial teams A group of experienced people from different areas of business who join together to form a managerial team with the sills ended to cid 127 Micropreneurs Entrepreneurs willing to accept the risk of starting and manning the type of business that remains small work they want to do and offers affiliate marketing An internet based marketing strategy in which a business rewards individuals or other businesses affiliates for each visitor or customer Intrapreneurs Creative people who work as entrepreneurs within corporations use a company s existing resources human financial and physical to launch new products and generate new profits Enterprise zones Specific geographic areas to which government try to attract private business investment by offering lower taxes and other government Incubators Centers that offer new businesses low cost offices with basic business services such as accounting legal advice and secretarial help Small business A business that is independently owned and operated is not dominant in its field of operation and meets certain standards of size set by the Small Business Administration in terms of employees or annual receipts the functions of business in a small business setting Planning your business Financing your business Knowing your customers Marketing cid 127 Managing your employees HR development Keeping records accounting Business plan A detailed written statements that describes the nature of the business the target market the advantages the business will have in relation to competition and the resources and qualifications of the owner pg 165 Angel investors private individuals who invest their own money in potentially hot companies before they go public P2P peer to peer lending Venture Capitalists Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses Small Business Administration SBA A U S government agency that advises and assists small businesses by providing management training and financial advice and loans Administration lend money to small businesses Small Business Investment Company SBIC Program A program through which private investment companies licensed by the Small Business cid 127 Market People with unsatisfied wants and needs who have both the resources and the willingness to buy Service Corps of Retired Executives SCORE An SBA office with volunteers from industry trade associations and education who counsel small businesses at no cost except for expenses cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127 cid 127
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