Cooperative
A business owned and cotrolled by the people who use it, for mutual gain
Why people take the entrepreneurial challenge (4)
1opportunity
2 profits
3 independence
4 challenge
What does it take to be ab entrepreneur? (5)
1 self-directed, comfy of being your own boss and responsibility for failure and success
2 self-nurturing, believing in you own ideas
3 action-oriented
4 highly energetic, work hard
5 tolerant of uncertainty, take risk
Challenges of working at home (5)
- getting new customers, difficult if you don’t have a retail storefront
- managing time
- keeping work and family task separate
- abiding by city ordinances, can attract a lot of traffic in neighborhood
- managing risk, risk homeowners insurance policy
Affiliate marketing
Internet-based marketing strategy in which a business rewards individuals of businesses (affiliate) for each visitor or customer the affiliate sends to its website
Angel investors
Private individuals who invest their own money in potentially hot new companies before they go public
Acquisition
One company’s purchase of the property and obligations of another company
