7 Truths About Entrepreneurship

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Visit to learn more. #1: Entrepreneurship is not reserved for startups. The truth is that entrepreneurs are everywhere, from corporations to franchises, to for-pro t and nonpro t organizations, to family enterprises. #2: Entrepreneurs do not have a special set of personality traits. There is no evidence to suggest that entrepreneurs have a special set of personality characteristics that distinguishes them from the rest of us. #3: Entrepreneurship can be taught (it's a method that requires practice). It has been proven that entrepreneurs exhibit common patterns in how they think, and our thinking can be changed and altered. As a result, entrepreneurship can be taught. #4: Entrepreneurs are not extreme risk takers. Contrary to the stereotype that entrepreneurs like to gamble when the stakes are high, there is no evidence to suggest that entrepreneurs take more risks than anyone else. #5: Entrepreneurs collaborate more than they compete. Community and networking play important roles in entrepreneurship. No entrepreneur is an island and building strong connections with others is key to business success. #6: Entrepreneurs act more than they plan. Today's investors want to know what the entrepreneur has done, milestones met, action completed, customers sold, and overall traction. Planning and research is important but the creation of a formal business plan is not. #7: Entrepreneurship is a life skill. These days, many individuals and institutions perceive entrepreneurship as a life skill that helps people to deal with an uncertain future by providing them with the methods to think, act, identify opportunities, approach problems in a speci c way, adapt to new conditions, and take control of personal goals and ambitions. *Source: ENTREPRENEURSHIP The Practice and Mindset SECOND EDITION Heidi M. Neck | Christopher P. Neck | Emma L. Murray *Source: TRUTHS ABOUT ENTREPRENEURSHIP ENTREPRENEURSHIP * 7 As you progress through your Entrepreneurship course, consider these seven truths to help you understand how entrepreneurship can be a path for many—including you.

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