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Entrepreneurship and Starting a Small Business - Coggle Diagram
Entrepreneurship and Starting a Small Business
Why People Take the Entrepreneurial Challenge
Entrepreneurship gives independence, opportunity, freedom, and challenge.
To be an entrepreneur you need to be self-directed, self-nurturing, action-oriented, highly energetic, and tolerant to uncertainty
Can be either a micropreneur or a intrapreneur.
Getting Started in Small Businesses.
50% of USA's GDP comes from small businesses.
Creation of job opportunities
Failure percent is lower than it is believed.
There are some causes for failure, but for succes too.
Learning About Small-Business Operations
Learn from others
Get experience
Take over a successful firm
Managing a Small Business
Write a business plan
Find financing through different methods to open a small business
Know your customers, manage employees, and keep records
Going Global: Small-Business Prospects
Going global brings more advantages to small businesses, but it is difficult since financing is difficult to find, and you may not adapt to the foreign market.