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Exam 2 Study Guide

by: Mackenzie Bauer

Exam 2 Study Guide Marketing 490

Mackenzie Bauer
GPA 3.5

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About this Document

Study Guide
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Popular in Entrepreneurship

Popular in Marketing

This 2 page Study Guide was uploaded by Mackenzie Bauer on Friday February 20, 2015. The Study Guide belongs to Marketing 490 at Washington State University taught by Osiri in Spring2015. Since its upload, it has received 212 views. For similar materials see Entrepreneurship in Marketing at Washington State University.


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Date Created: 02/20/15
INTERIA Challenges preventing you from starting Hurdles 1 Capital Solution think in terms of capital types 0 Financial invest 0 Real 0 Human 0 Social 0 Get loan 2 Fear Solution 0 Do work worth doing 0 Focus 0 Be proactive 3 Time Solution 0 Millionaire taxpayers tend to be older 0 Start early and plug away 4 Experience Solution 0 Ask a mentor 0 Try it anyways 0 Research and gain experience 5 Don t know Market Solution 0 Talk to potential customers 0 Talk to industry experts 0 Learn from competitors IDEATION Coming up with a business idea 6 Idea 0 There is no script for ideation but there are general rules 0 Find inspiration 0 Develop a Personal Strategy 0 Passionately pursue purpose 0 Focus on one thing and impact ENTREPRENEURSHIP 5 Star Entrepreneur Entrepreneurial Leadership The process of recruiting and retaining venture evangelists not just employees or partners Entrepreneurial Financing Process that ensures the provision of money material manpower necessary for the new venture to succeed in a competitive landscape Legitimizing Your Business Process that aims at building the brand image of the company protecting intellectual property having necessary licenses and having successful internal accounting Business Planning Process which outlines a exible plan beginning with the idea followed by the planning of a new venture and ending with a predictive model of the future company Entrepreneurial Marketing Process which ensures that there are customers in the real world that will purchase the business offerings STARTING 1 Your purpose should form the basis for 2 What s important to you which in turn should predict 3 The activities or milestones on which you should focus FIGHTING ENTROPY A degree of randomness Entropy attacks business ideas anything you are not focused on your idea So you must always feed energy to that idea 1 2 3 4 Focus Organize Operate Discipline


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