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BUS 101, Week 1

by: maiaT646

BUS 101, Week 1 BUS 190


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Notes from September 1, 2016
The Art of Starting: Entrepreneurship
Professor Szymusiak
Class Notes
25 ?




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This 2 page Class Notes was uploaded by maiaT646 on Thursday September 8, 2016. The Class Notes belongs to BUS 190 at Michigan State University taught by Professor Szymusiak in Fall 2016. Since its upload, it has received 12 views. For similar materials see The Art of Starting: Entrepreneurship in Business at Michigan State University.


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Date Created: 09/08/16
Thursday, September 1, 2016 Art of Starting Entrepreneurship is the pursuit of opportunity without regard to resources current controlled. -Howard Stevenson, HBS Nature vs. Nurture Characteristics of an Entrepreneur: - Desire for responsibility - Preference for moderate risk - Confidence in their ability to succeed - Determination - Desire for immediate feedback - High level of energy - Future orientation - Skill at organizing - Value achievement over money What is the Upside? - Being in control of your own life - destiny - Make a difference - Personally rewarding - Possibly make substantial profits What is the Downside? - Being in control of your own life - destiny - Income uncertainty - Risk of failing - Long hours and hard work - Stress Opportunity vs. Necessity 12% -Business start ups Technology 1 Thursday, September 1, 2016 Small Business in America-Failure Rates - Year 1- 19% - Year 2- 35% - Year 3- 60% Action over everything 2


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