BU121 Study Guide - Mantra, Financial Statement, Market Analysis
Document Summary
Most important things an entrepreneur must accomplish: make meaning. The most powerful motivator isn"t power or money but making the world a better place: make mantra. Need to meet the needs of all the stakeholders involved and what each of them wants from the business: get going. Build a prototype and get it out to the market. Take risks: define a business model. Understand and strategize how you are going to make money: weave a mat milestones, assumptions, tasks. Milestones are the points you need to reach (financially) Assumptions is what you are basing everything on. Tasks are the things you need to do. Detailed roadmap for converting ideas and visions into a real functioning business. Provides entrepreneur a clear understand the best way to proceed. Encourages to formulate specific goals and plans. Converts ideas into viable companies and raises capital. Explain what the new venture is trying to accomplish and how it will go about attaining these goals.
