Week 1 Concepts (entrepreneurship)

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10 Terms

1
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Entrepreneurship

The relentless pursuit of opportunity without regard to resources currently controlled

2
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Lean Startup

Methodology focused on testing business model hypotheses using experiments and MVPs

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Founder

Individuals who start new organizations to pursue opportunities

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Advisory Board

An informal group of experienced individuals who provide guidance to the founders

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Board of Directors

a governing body of elected individuals that represents shareholder

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Specialists
(or Service Providers)

Professionals who provide important services to the company

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Key Employee

Employees who fill a critical role in an organization

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Who can recognize oppertunities?

Everyone

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What are the top sources of oppertunity?

  1. problems

  2. trends

  3. gaps in the marketplace

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What is takeaway #3?

creative thinking, motivation, expertise/ experience