In one word, what is the most important factor for success as an entrepreneur?
Understand your niche and target market. Learn the basics of finance and accounting. Network with industry professionals.
Tips for Beginning Entrepreneurs
niche: A specific segment of a market that can be targeted by a business. target market: The specific group of customers most likely to buy a product or service. finance and accounting: The practice of managing money and financial records in order to make informed business decisions.
What tip would you give to a beginning entrepreneur?
- Find a mentor
- Develop a business plan
- Network with other entrepreneurs
- Invest in education
The average age of an entrepreneur is 40. Nine out of ten entrepreneurs launch their businesses with less than $10,000 in capital. Two-thirds of entrepreneurs are college graduates.
Draw / write: What challenges do entrepreneurs face when starting their own business?
Draw / write: What are the benefits of being an entrepreneur?
How do you think your skills and experience can help you succeed as an entrepreneur?
What risks and rewards do you think you would have to consider when starting a business?