2. True or False All entrepreneurs make a lot of money. Entrepreneurs get a lot of time off do what they like. Entrepreneurship is a process. Some entrepreneurs have started charities.

3. All entrepreneurs make a lot of money. ANSWER: False Not all entrepreneurs are “rich” or wealthy. Many struggle to make their passion a viable business option. takes a lot of hard work and knowing your market (who will buy your product / service) to make millions!

4. Entrepreneurs get a lot of time off do what they like. ANSWER: False are often the sole employee of the business. must “wear many hats” in order for their business to succeed: secretary, sales, market researcher, product development, accountant, and human resources to name a few! That’s a lot of jobs!!!

5. Entrepreneurship is a process. ANSWER: True The process of creating and sustaining a business involves many variables such as, critical thinking and decision making and therefore can not be described in step-by-step instructions. First Attempt In Learning

6. Some entrepreneurs have started charities or non-for-profits ANSWER: True Not all entrepreneurs start organizations for their own financial benefit. Craig Keilburger founded Free the Children when he was only 12!

7. Cameron Herold While COO at 1-800-GOT-JUNK? the company ranked as #2 Best Employer To Work For in all of Canada, and were twice ranked the #1 Employer in BC. In 2008 he taught two Entrepreneurial Master's Programs at MIT in Boston. He’s handled PR for his companies since 1986 and most recently built and led a team that landed over 5,000 media stories in just 6 years. As COO, Cameron helped grow a company from $2 million to $105 million in six years with no debt and no outside shareholders. Opened up the Pacific Northwest for College Pro Painters. Helped build a company that sold for $64 Million. Every day he wakes up excited to help entrepreneurs – “That’s my biggest highlight!” http://video2.ted.com/talk/podcast/2009X/None/CameronHerold_2009X-480p-en.mp4

8. Entrepreneurial Language Market niche Venture Entrepreneur Need Want Entrepreneurship Profit Not-for profit Good Service Virtual business E-commerce Globalization Gross national product (GNP) Demographics Downsize Rightsize Incubator Networking Demand Supply Multiplier effect Intrapreneurship Market share

9. Assignment: UE1: articulate a broad notion of entrepreneurship Go over the entrepreneurial language terms. Create a glossary in your binder where you can continue adding to these terms as the semester progresses.