Basics of Entrepreneurship

Front

What is entrepreneurship?

Back

Entrepreneurship is the act of starting and running a new business.

Front

Name one quality of a successful entrepreneur.

Back

Resilience

Front

What is a business plan?

Back

A business plan is a formal document outlining a company's goals and strategies.

Front

Why is market research important?

Back

Market research is important because it informs business decisions and strategies by understanding consumer needs and market dynamics.

Front

What does it mean to take a risk in business?

Back

To take a risk in business means to make decisions that involve uncertainty and the potential for loss, with the hope of achieving a greater reward.

Front

What is a startup?

Back

A startup is a newly established business aiming to innovate and grow rapidly.

Front

Can anyone become an entrepreneur? Why or why not?

Back

Yes, anyone can become an entrepreneur, but success depends on skills, mindset, and resources.

Front

What is the role of innovation in entrepreneurship?

Back

Innovation is essential in entrepreneurship as it leads to new opportunities, competitive advantage, and economic growth.

Front

What is a target market?

Back

A target market is a specific group of consumers a business aims to reach with its products or services.

Front

How can networking help an entrepreneur?

Back

Networking helps entrepreneurs by providing valuable connections, resources, and opportunities for growth.