So,you want to be an entrepreneur? Lessons from the Entrepreneurship Bootcamp for Veterans with Disabilities |
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Authors: | F Randy Blass David J Ketchen Jr |
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Institution: | 1. College of Business, Florida State University, 821 Academic Way, P.O. Box 3061110, Tallahassee, FL 32306-1110, U.S.A.;2. Raymond J. Harbert College of Business, Auburn University, 405 W. Magnolia Avenue, Auburn, AL 36849, U.S.A. |
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Abstract: | Based on helping dozens of military veterans refine their ideas for starting a business, we identify and discuss a series of potential pitfalls that aspiring entrepreneurs—veterans and civilians alike—must avoid in order to be successful. Potential entrepreneurs must not confuse the pursuit of hobbies and self-employment with the act of creating a business. People who wish to build a business around public speaking or consulting need to firmly establish why customers should be willing to pay for their advice. Individuals that seek to develop a new non-profit organization must have a viable value proposition even though they are not pursing a profit motive. Overall, the entrepreneurial ventures that are most likely to succeed are those that (1) are based on a sustainable business model, (2) leverage the entrepreneur's unique experiences and attributes, and (3) are built around a process or system that enables the venture to prosper even if the entrepreneur leaves the venture. |
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Keywords: | Entrepreneurship Employment Sustainable business model Value proposition Veterans |
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