chapter 2 preparing for the entrepreneurial journey
TRANSCRIPT
Chapter 2
Preparing for the Entrepreneurial
Journey
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Learning Objectives
• Dispel myths about entrepreneurs
• Understand the pathways to entrepreneurship. • Prepare to become an entrepreneur.
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Seven Myths
1. Entrepreneurs start businesses solely to make
money
2. It takes a lot of money to start a business
3. It takes a great idea
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Seven Myths (continued)
4. The bigger the risk, the bigger the reward
5. A business plan is required for success
6. Entrepreneurship is for the young and reckless
7. Entrepreneurship cannot be taught
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Pathways to Entrepreneurship
• The home-based entrepreneur
• The internet entrepreneur
• The serial or portfolio entrepreneur
• The traditional entrepreneur
• The nonprofit entrepreneur
• The corporate venturer
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Table 2.1: Challenges and Opportunities with the Entrepreneur Career Path
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Preparing to be an Entrepreneur
• Find a mentor
• Build a network
• Learn about entrepreneurs
• Identify reasons for wanting to own a business
• Analyze personality and business preferences
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Preparing to be an Entrepreneur (continued)
• Improve or acquire critical skills
• Study an industry
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New Venture Checklist
Do you have what it takes to make it as an entrepreneur?
Why do you want to start a business?
What type of business would be good for you?