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Chapter 2

Chapter 2. Preparing for the Entrepreneurial Journey. Learning Objectives. Dispel myths about entrepreneurs Understand the pathways to entrepreneurship . Prepare to become an entrepreneur. Seven Myths. Entrepreneurs start businesses solely to make money

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Chapter 2

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  1. Chapter 2 Preparing for the Entrepreneurial Journey

  2. Learning Objectives • Dispel myths about entrepreneurs • Understand the pathways to entrepreneurship. • Prepare to become an entrepreneur.

  3. Seven Myths • Entrepreneurs start businesses solely to make money • It takes a lot of money to start a business • It takes a great idea

  4. Seven Myths (continued) 4. The bigger the risk, the bigger the reward 5. A business plan is required for success 6. Entrepreneurship is for the young and reckless 7. Entrepreneurship cannot be taught

  5. Pathways to Entrepreneurship • The home-based entrepreneur • The internet entrepreneur • The serial or portfolio entrepreneur • The traditional entrepreneur • The nonprofit entrepreneur • The corporate venturer

  6. Table 2.1: Challenges and Opportunities with the Entrepreneur Career Path

  7. Preparing to be an Entrepreneur • Find a mentor • Build a network • Learn aboutentrepreneurs • Identify reasons for wanting to own a business • Analyze personality and business preferences

  8. Preparing to be an Entrepreneur (continued) • Improve or acquire critical skills • Study an industry

  9. New Venture Checklist • Do you have what it takes to make it as an entrepreneur? • Why do you want to start a business? • What type of business would be good for you?

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