ARBUS101 Lecture Notes - Lecture 5: Startup Company, Affiliate Marketing, Status Quo
5 Nov 2016
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Module 3: why people are willing to become entrepreneurs (chapter 7) New idea, process, or product to meet needs; independence, challenge, family pattern, profit, immigrants. Entrepreneurs must be able to do anything basically. Home-based businesses: tech, corp downsize, change in social attitudes: getting new customers, keeping work and family tasks separate, managing risks, and more. Affiliate marketing: reward peeps for each new customer brought to website. Entrepreneurial team: group of different area experienced peeps. Incubators: hands-on peeps who help with everything and are crucial for start-up companies: e. g. , velocity (u of wloo) Almost all small businesses are canadian-ow(cid:374)ed: s(cid:373)all, does(cid:374) t sta(cid:374)d out a(cid:374)d i(cid:374)depe(cid:374)de(cid:374)t: make up a lot of the market sector, approx. 80% survive (1 year: require more investment of time. Ways to learn how small businesses operate: learn from others // 2. Get some experience // buy an existing business // buy a franchise // inherit/take over a family business.
