Explain the risks, rewards, and requirements of entrepreneurship.
Explanation may include
- risks
- sole responsibility for success
- personal financial risks
- lack of financial security
- loss of personal time
- potential for decline in health
- rewards
- hands-on management
- creative freedom
- income source for local economies
- potential for significant financial rewards
- potential for a flexible schedule
- requirements
- initial investment
- development and implementation of business plans
- multiple roles for owner (e.g., management, accounting)
- long hours
- hiring and firing.