INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Environment firm
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Salary-substitute firms
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Entrepreneurial firms
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Lifestyle firms
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Detailed explanation-1: -Lifestyle businesses operate flexibly, sometimes reducing their working hours below 40 hours per week, often turning to outsourcing and automation and emphasizing lifestyle over work. Examples of a lifestyle business include selling online templates, providing virtual consulting, or a clothing dropshipping business.
Detailed explanation-2: -A lifestyle entrepreneur focuses more on the life rewards (rather than the monetary rewards) provided to those that have a true passion for their work and enjoy what they’re doing. These life rewards include: Autonomy. Fun.
Detailed explanation-3: -Being able to spend more time with your friends and family. Being able to make your own schedule and work when you want. Allows you to focus on your strengths instead of honing new skills. Gives you more freedom and flexibility to do the things you love while also making money from them.