BUSMHR 3510.01 Lecture Notes - Lecture 11: Takers, Venture Capital, Social Forces
5 Apr 2016
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1/14/16 why become an entrepreneur the three primary reasons people become entrepreneurs and start their own firms: desire to be their own boss, desire to purchase their own ideas. The number one reason people become entrepreneurs is to become their own boss. *30% of ideas at ge must come from ideas generated in past 4 years characteristics of a good entrepreneur (in order: passion for the business, product customer focus-how will decisions affect the customer. 3) tenacity despite failure: execution intelligence common myths about entrepreneurs myth 1: entrepreneurs are born, not made myth 2: entrepreneurs are gamblers. Do their homework before taking a risk myth 3: entrepreneurs are motivated primarily by money. Some believe the pursuit of money can be distracting. Decisions can be made better if they aren"t purely motivated by money myth 4: entrepreneurs should be young & energetic. Most active age for business ownership is 35 to 45.
