AFM131 Lecture 3: AFM 131 - Week 3 Notes (Chapter 7)

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Afm 131 week 3, lecture notes (chapter 7) Raising money from a large number of people online. Entrepreneurship accepting challenge of starting and running a business. *entrepreneurship is not always small and small business is not always entrepreneurial . Can be rapid (can be in 5 years) Status quo (make things that are already in the market) General reasons why: they want to leave the corporate life, sudden inheritance, change in career path, family pressure, etc. They believe that they can produce a better product/current product at lower cost than someone else. Entrepreneurs do not enjoy working for someone else. They like doing things their own way without someone demanding them to do it. They get satisfaction out of their own achievements. They want to overcome the challenge and like the feeling of success. To take over the family business, some people grow up in a business background family. You should be invested in your idea, not only for profit.