What we need as a people is a whole lot more entrepreneurship in our lives and a whole lot less big government. Heres a fun quiz right out of the Instructors intro to business textbooks that I share with some of my students and with many attendees at small business workshops to help stimulate conversation about entrepreneurs. ~ Jim McDermott, AK Libertarian for US Congress 2014. So You Think You Know Entrepreneurs? 1. Most people start their own business to make lots of money. False—The number one reason is a desire for independence. 2. You don’t need a lot of money to start a business. True—Most entrepreneurs start with $10,000 or less. 3. It is important to have a great idea. False—A great idea helps, but companies like Sony and Walt Disney started without a great idea. 4. The bigger the risk, the bigger the reward! False—Risk, while always present, must be managed. Successful entrepreneurs do it well. 5. Successful entrepreneurs are born to have their own business. False—Sometimes inspiration doesn’t strike until you have worked for someone else for a while. 6. If you haven’t started a business by the time you are 30, you are too old. False—You are never too old to start a business. Colonel Harland Sanders, born September 9, 1890, actively began franchising his chicken business at the age of 65. 7. You don’t need a business plan for success. False—It is better to have one, but companies like Pizza Hut and Crate and Barrel started without one. 8. It’s better to be creative than self-disciplined. False—Hard work and discipline wins over creativity! 9. It is smarter to focus on the big picture instead of business details. False—Details matter! The successful entrepreneur has a good grasp of all areas of the business. 10. Most entrepreneurs are ethical people. True—Dishonesty is a recipe for failure. People will not trust or help someone without a reputation for integrity. Reference: Huges, R. & Kapoor, J. & Pride, W. M. (2011). Foundations of business. 3rd Edition. Boston, MA. Houghton Mifflin Co.
Posted on: Mon, 04 Aug 2014 17:10:45 +0000
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