Entrepreneurship I Blog

Unit 5: Chapter 24

As you grow your business, you’ll want to start looking into the possibility of a partnership. A partnership is when two or more businesses work

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Unit 5: Chapter 23

An important part of any business model is operations. Operations occur in practically every business. Simply put, operations are the day to day activities required

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Unit 5: Chapter 22

While distribution chains are a large part of a business model, the resources required to actually operate a business are equally important. In business, the

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Unit 5: Chapter 21

A term you will likely hear in business a lot is “Business Model”. What is a business model? Simply put, a business model is the

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Unit 4: Chapter 20

In order to get people to buy your product or service, they have to know about it first. Promotion is a type of marketing with

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Unit 4: Chapter 19

A very important part of marketing is the means used to communicate with the customer. While marketing as a whole is meant to improve the

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Unit 4: Chapter 18

The term “Marketing” is a broad term, covering many things related to the public appearance of a business. At its core, marketing is improving the

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Unit 4: Chapter 17

In a business, convincing your customers that your business has value can be highly beneficial. Customers will be willing to pay more for a service

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Unit 4: Chapter 16

Many different types of people buy from many different businesses. Ideally, your business should cater to all types of people, however, targeting specific groups of

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Unit 3: Chapter 15

Businesses can conduct research into their competitors to have a better chance of success. If a business has information on its competitors, it can be

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Unit 3: Chapter 14

In business, competition is very common. Businesses that offer similar products or services will naturally generate competition. Competition is often beneficial to the customer, as

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Unit 3: Chapter 13

Competition is present in almost every business. Competitors are other businesses, often with similar products or services, which are trying to acquire customers from your

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Unit 3: Chapter 12

At the most basic level, a business exists to supply services or products to meet customer demand. Supply is the number of products or services

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Unit 3: Chapter 11

Economics is a word that is used a lot in business, but what does it really mean? Simply speaking, economics is the transfer of goods,

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Unit 2: Chapter 10

It is no secret that businesses must make tough decisions. When it comes to widening the reach of your business, data can help ensure the

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Unit 2: Chapter 9

When starting a business, it is important to research the market you plan to go into. A market is a group of potential customers who

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Unit 2: Chapter 8

Coming up with an idea can be a difficult step in creating a business. Coming up with ideas for a business relies on critical thinking

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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

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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

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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

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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

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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

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