Entrepreneurship 1A: Introduction
Business Management: Entrepreneur Career Pathway Course Units
Unit 1: An Introduction to Entrepreneurship—Past & Present
Have you ever thought about life as your own boss? Never needing to look for a job—but creating one for yourself! Starting and leading your own business can be both rewarding and challenging. Many products and services we buy and use today started as an idea from a single person or small group of people. If you are a person who embraces a challenge, loves new experiences, and has an interest in business, entrepreneurship might be the right path for you. If you love to discover new things and are not afraid of failure, you could be an entrepreneur—like millions of others before you!
Unit 2: Using Communication to Create Opportunities
To break through and make your mark as an entrepreneur, professionalism and effective communication are critical. Entrepreneurs must be skilled at communicating in many ways, both within and outside their companies. These skills are important so they can showcase the benefits of the business and the benefits of working with them. Consider the strategies needed to communicate with employees, customers, and even colleagues when pursuing interim steps toward entrepreneurship, such as job searching and possibly working for another business. So before you are able to become a successful entrepreneur, it is important to take a closer look at effective communication skills needed for entrepreneurship.
Unit 3: Navigating the Business World
An entrepreneur’s choices in the early days of their new business can greatly determine the difference between future success or failure. A new business requires many important decisions to select the right mix of products, services, customers, and ownership structure, just to name a few. Making smart decisions early on can help to build a great foundation. Deciding what type of business is right for you, your product or service mix, with whom to start your business, and internal organization—not to mention how to best make these tough decisions—are what entrepreneurs face when starting out.
Unit 4: Small Business & the Law
Entrepreneurs are risk-takers; they seek out a market opportunity and enter into uncharted territory to achieve profit. But this does not mean that entrepreneurs should seek unnecessary risk when it comes to the law. Taking a risk to make a successful product or service is reasonable. But recklessly or carelessly breaking the laws, protections, and regulations set out by the government is not. By recognizing key obligations in business setup, laws, contracts, and intellectual property, you and other entrepreneurs are better equipped to evaluate legal risks—both in starting out as well as operating the ongoing business venture.
Unit 5: Economics for Managing the Small Business
An entrepreneur should have a general knowledge about economic environments, so they can better understand how a small business operates and fits into the broader marketplace. A small business on its own may not have a huge influence on the larger economy, but together, millions of small businesses are very influential on our country’s economic performance. The economy also has a big impact on your small business and can guide decisions such as what, how, and when you produce goods and services. Together we will examine how an entrepreneur can use this working knowledge of economics to inform good decisions for themselves and for the business.
Unit 6: Government & the Small Business Relationship
Governments and businesses are linked in many ways. These two groups work closely together, as businesses try to make profits and governments work to ensure the economy is stable, which is good for businesses. A balanced relationship between governments and businesses is necessary to maintain steady growth in the economy. To do this the government creates conditions that are attractive for businesses and consumers. These conditions influence their actions through various rules and regulations. Entrepreneurs are responsible for following these rules to ensure business operations run smoothly and legally—and for the benefit of consumers and society.
Unit 7: Entrepreneurial Finance
Entrepreneurs should know the financial state of their business at all times. To do this, they need accurate and summarized information that can help them easily analyze business performance. An important section of all good business plans provides the company’s financial forecasts and statements. This financial section is one of the plan’s most essential components and is closely reviewed by those considering investing in or loaning money to your business. To make good choices every day, every entrepreneur will rely on accurate and timely financial information. Collecting, summarizing, and analyzing this information is the key to success in making these decisions.