BUAD110 Lecture Notes - Lecture 8: Break Even, Intrapreneurship, Variable Cost

• School: University of Delaware
• Department: Business Administration
• Course: BUAD110
• Professor: Bailor Frank

Document Summary

Entrepreneurship: risk of starting and running a business > risk money and time, self directed, self nurturing, action oriented, highly energetic, tolerant of uncertainty, not afraid to fail. Steps to starting business: find a problem or need, zero in on speci cs, do research on campus, test products with students, move forward with your ideas, sacri ce. Bene ts: start immediately, minimal start up needed, no rent or excessive set up charges, comfortable working conditions, no commuting, tax bene ts. Downsides: dif cult to establish habits, limited support, isolation, limited work space, clients may be uncomfortable coming to your home, zoning and hoa restrictions, success is based 100% on your efforts. Af liate marketing: internet based marketing strategy in which business rewards for each visitor to website. Intrapreneur: person who works as an entrepreneur within a corporation. > use company"s existing resources to create new products. Sources of capital: personal savings, relatives, former employees, banks and nancers.