Independence Challenge To do it yourself or put a team together to do it, which one is better? An entrepreneurial team:a group of business who join together to form a managerial team with the skills needed to develop,make,and market new products. a team may be better than an individual entrepreneur because combine production and marketing skills. assure more cooperation and Micropreneurs:entrepreneurs who are interested in simply enjoving a balanced lifestyle while doing the kind of work they want to do.Many micropreneurs are home-based business owners Intrapreneurs:creative people who work as entrepreneurs within corporations.The idea is company's existing resou human,financial,and physical-to launch new products and generate new profits. Small Businesses:a Brief Sketch Two distinct types of small businesses: businesses (corner florist,the neighborhood pizza parlor) New businesses:some expand rapidly Definition:(1)small in sales dollars and employees,(2)run on capital from one or few people;(3)under the management of a sole proprietor,a partnership,or a family-owned corporation that is oto to board of directors or a corporate office Preparation for a New Business Attractions/Advantages of Small Businesses 1414 Independence Challenge To do it yourself or put a team together to do it, which one is better? An entrepreneurial team: a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market new products. a team may be better than an individual entrepreneur because: combine production and marketing skills; assure more cooperation and coordination Micropreneurs and Intrapreneurs Micropreneurs: entrepreneurs who are interested in simply enjoying a balanced lifestyle while doing the kind of work they want to do. Many micropreneurs are home-based business owners. Intrapreneurs: creative people who work as entrepreneurs within corporations. The idea is to use a company’s existing resources– human, financial, and physical– to launch new products and generate new profits. Small Businesses: a Brief Sketch Two distinct types of small businesses: Lifestyle businesses (corner florist, the neighborhood pizza parlor) New businesses: some expand rapidly Definition: (1) small in sales dollars and employees; (2) run on capital from one or a few people; (3) under the management of a sole proprietor, a partnership, or a family-owned corporation that is responsible only to itself, not to a board of directors or a corporate office. Preparation for a New Business Attractions/Advantages of Small Businesses