Strategic Management For Small Business

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Strategic Management For Small Business
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Becoming an Entrepreneur

• Identify characteristics of successful
  entrepreneurs.
• Recognize the importance of entrepreneurship in
  the economy.
• Describe opportunities and risks of
  entrepreneurship.

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What Does it Take?

• Not all business owners and managers are
  entrepreneurs.
• Entrepreneurs have unique skills and personal
  characteristics.

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Entrepreneurs Are More

• Persistent
• Inquisitive
• Energetic
• Goal-oriented
• Independent
• Self-confident
• Creative
• Reliable
• Competitive

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Entrepreneurs Have

• Problem-solving skills
• Tolerance for ambiguity
• Strong integrity
• Personal initiative
• Ability to secure resources
• Capability to learn from failure
• Willingness to work hard

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Financing The Small Business

• Types of financing
• Start-up financing
• Short-term financing
• Long-term financing
• Sources of financing
• Owner-supplied funds
• Borrowed funds

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