Chapter 2
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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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Chapter 2

Chapter 2

Preparing for the Entrepreneurial Journey


Learning objectives

Learning Objectives

  • Dispel myths about entrepreneurs

  • Understand the pathways to entrepreneurship.

  • Prepare to become an entrepreneur.


Seven myths

Seven Myths

  • Entrepreneurs start businesses solely to make money

  • It takes a lot of money to start a business

  • It takes a great idea


Seven myths continued

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


Pathways to entrepreneurship

Pathways to Entrepreneurship

  • The home-based entrepreneur

  • The internet entrepreneur

  • The serial or portfolio entrepreneur

  • The traditional entrepreneur

  • The nonprofit entrepreneur

  • The corporate venturer


Table 2 1 challenges and opportunities with the entrepreneur career path

Table 2.1: Challenges and Opportunities with the Entrepreneur Career Path


Preparing to be an entrepreneur

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


Preparing to be an entrepreneur continued

Preparing to be an Entrepreneur (continued)

  • Improve or acquire critical skills

  • Study an industry


New venture checklist

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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