INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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someone who uses money from sale of a business to start another business
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someone who learns from previous successes and failures
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someone who starts more than one business
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all of the above
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Detailed explanation-1: -A serial entrepreneur is someone who makes money by launching multiple businesses. They could run these businesses simultaneously, delegate the management duties or simply build it, scale it, and sell it before moving on to the next venture.
Detailed explanation-2: -Serial entrepreneurs are people who can repeatedly turn creative ideas into successful business strategies. Serial entrepreneurs can make money by selling their successful businesses and reinvesting the profits in a new startup.
Detailed explanation-3: -Serial entrepreneurs are curious and restless. They find a potential opportunity in every gap and have the desire to create something amazing out of it. They are driven by the thrill of taking on a challenge, and they are unrelentingly competitive with themselves.
Detailed explanation-4: -The study identifies three types of serial entrepreneurial behaviour namely venture repeaters, organic serials and serial dealmakers, distinguished by the motivations and the methods used to develop their ventures.
Detailed explanation-5: -The dictionary lists speculator, tycoon, magnate, mogul, hustler, and wheeler and dealer as synonyms for entrepreneur.