What is Entrepreneurship?
Entrepreneurship is the process of designing, launching, and running a new
business venture, typically starting as a small business, offering a product, process, or service for sale or hire. It involves a willingness to take risks and manage them effectively to make a profit or achieve another desired outcome.
Who is an Entrepreneur?
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entrepreneur is an individual who initiates, develops, and manages a business venture along with any of its risks to make a profit. Entrepreneurs are often seen as innovators, bringing new ideas, products, services, and business models to the market.
What is a Business Model?
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business model describes how a company creates, delivers, and captures value. It includes the company’s value proposition, target customer segments, revenue streams, cost structure, and key partners, among other components.
What is a Startup?
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startup is a company in the initial stages of operations, often focused on a single product or service that the founders want to bring to market. Startups typically seek to scale their business quickly and often look for investment to fuel their growth.
What is Venture Capital?
Venture capital is a form of private equity financing provided by firms or funds to startups and emerging companies with high growth potential. Venture capitalists invest in these companies in exchange for equity, or an ownership stake, and often play a role in their management and strategic planning.
What is Bootstrapping?
Bootstrapping refers to starting and growing a business using personal finances or the revenue generated from initial sales, rather than seeking external funding or investment. This approach allows entrepreneurs to retain full control of their company but often requires significant financial discipline and resourcefulness.
What is Scaling?
Scaling refers to the process of growing a business by increasing its capacity to handle more customers, revenue, or other metrics without compromising performance or quality. Scaling often involves expansion, hiring, investment in technology, and optimizing operations.
What is a Pivot?
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pivot is a significant change in a company's business model, product, or strategy based on feedback and market conditions. Entrepreneurs pivot to better align with market demands, improve product-market fit, or capitalize on new opportunities, ensuring the business remains viable and competitive.
What is an Exit Strategy?
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exit strategy is a plan for how an entrepreneur or investor will sell their stake in a company and realize their investment. Common exit strategies include initial public offerings (IPOs), mergers and acquisitions (M&A), and buyouts.