Unit 1: Chapter 7

In business, learning when to take opportunities is very important. Committing time, resources, and money to an opportunity is risky, but as previously discussed, risks are necessary for a business. A business should be created to meet a consumer need or want. A good entrepreneur is constantly on the lookout for opportunities to start a […]

Unit 1: Chapter 5

It is important for a business to be ethical. Everyone’s idea of ethics is different, however, so a business should have an idea of what is important to them. Sometimes businesses are not ethical, as sometimes doing unethical things can be more profitable. If the public gets light of a business’s unethical practices, they might […]

Unit 1: Chapter 4

Being a good entrepreneur isn’t just about making money. Good entrepreneurs solve problems. You need to make money to solve problems, and you need to solve problems to make money. Entrepreneurs need to know how to balance economics with societal relations. Responsible business owners will use their business to solve problems, sometimes ones that aren’t […]

Unit 1: Chapter 2

What makes an entrepreneur successful? The answer to this question will vary based upon who you ask. It’s a difficult question to answer, so let’s instead ask: What do successful entrepreneurs have in common? Sixty-seven percent of business owners had at least a partial college education when they started their business, while only twenty percent […]

Unit 1: Chapter 1

A large part of being an entrepreneur is recognizing a problem that many people face, and identifying a marketable solution. This is most often an issue one faces in their personal life, such as how Gary Rayner founded LifeProof due to him wanting a phone which was durable but also still small and portable. Once […]

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