A friend of yours with whom you went to high school and now university as well is talking to you about his interest in becoming an entrepreneur. In a way, this does not surprise you in that Jackson, your friend, has always wanted to be his own boss. However, in discussing his interest to start his own real-estate firm, Jackson tells you that a substantial income is the primary reason he is thinking about becoming an entrepreneur. He asks you if wanting to earn a significant amount of money is the main reason most, if not all, entrepreneurs start their firms. In light of information included in this chapter, how would you respond to Jackson?
Answer to relevant QuestionsWhat does evidence show us about the rate of failure associated with entrepreneurial ventures? How do those who are leading PatientsLikeMe practice “execution intelligence”? According to the feature, Everpix spent almost nothing on advertising and promotions. How large of a role do you think that decision played in Everpix’s failure? What is creativity? As mentioned in the chapter, “prior experience” in an industry helps entrepreneurs recognize business opportunities. This concept of “help” extends to prior experience in any aspect of life—whether it is sports, ...
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