INTRODUCTION TO ENTREPRENEURSHIP
The word “entrepreneur” derives from the French words entre, meaning between, and prendre, meaning “to take.” The word was originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new venture.
Entrepreneur Definition from some resources
- Academic Definition ( Stevenson & Jarillo )
~ Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.
- Venture Capitalist ( Fred Wilson )
~ Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.
- Explanation of what Entrepreneurs Do
~ Entrepreneurship is the art of turning an idea into a business.
The three primary reasons that people become entrepreneurs and start their own firms
- Desire to be their own boss
- Desire to pursue their own ideas
- Financial Rewards
Four Primary Characteristics
Common Myths about Entrepreneurs
- Entrepreneurs Are Born Not Made
- Entrepreneurs Are Gamblers
- Entrepreneurs Are Motivated Primarily by Money
- Entrepreneurs Should Be Young and Energetic
The Entrepreneurial Process
Step 1: Deciding to become an entrepreneur.
Step 2: Developing successful business ideas.
Step 3: Moving from an idea to an entrepreneurial firm.
Step 4: Managing and growing the entrepreneurial firm.
Step 5: Exiting the venture.