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ENFB 4170 COMPREHENSIVE QUESTIONS AND VERIFIED ANSWER 2024 UPDATE [ALL PASSED] GRADE A+
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ENFB 4170 COMPREHENSIVE QUESTIONS AND VERIFIED ANSWER 2024 UPDATE [ALL PASSED] GRADE A+
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ENFB 4170 COMPREHENSIVE QUESTIONS AND VERIFIEDANSWER 2024 UPDATE [ALL PASSED] GRADE A+
What is one of the primary benefits of being an entrepreneur?
be your own boss
In the US over __% of jobs are created from small entrepreneurial companies
70
be being an entrepreneur how can you improve society?
§ Introduce new technologies
§ Improve existing products/services
Benefits of entrepreneurship (rewards)
- be your own boss
- create jobs
- make a lot of money
- give money
- give to others
- improve society
Ways to become a millionaire in the US
· Entrepreneur
· Lottery
· Save and invest
· High salary job
· Gamble
· Steal
· Marry it
· Inherit it
· Sue
· Drug Dealer
What is the #1 way people become millionaires in the US?
entrepreneur
As an entrepreneur you use other people's ______ to become a millionaire.
money
Examples of high salary jobs
o Doctors
o Athletes
, o Corporate Executives
o Actors
o Musicians
o Gambling
What is not a benefit of entrepreneurship?
control of your schedule
Downside of Entrepreneurship (risks)
o Investors lose their money
o Lose your job-
o High stress
o Lots of long work hours
o Fight
o Loss of self esteem
o People think poorly of you (if you fail)
How many points are there for foundational strategy for startups?
4
Foundational Strategy for Startups
1. think big
2. start small
3. fail quickly
4. grow fast
1. think big
- dream big
- big rewards
- inspires people
- get funded
big rewards
· Creating more jobs
· Creating more wealth (for yourself down the road)
What kind of dreams inspire people?
big
Thinking big can help you get funding because why?
investors see potential winnings in the company if the idea is big!
2. start small
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