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Topic N°1 The Entrepreneur

1. What is entrepreneur?

An entrepreneur is a person who faces, with resolution, difficult actions. Specifically in

the field of economics , business or finance , it is that individual who is willing to take
an economic risk . From this point of view, the term refers to someone who identifies
a business opportunity and organizes the necessary resources to launch it.

2. What is an entrepreneur

The entrepreneur is the person who, individually or collectively, sets the objectives
and makes strategic decisions about the goals, means, administration and control of
the companies and assumes both commercial and legal responsibility towards the
outside world. Another possible definition would be the one according to which the
entrepreneur is defined as the natural or legal person who, with legal capacity and in
a professional manner, combines capital and labor with the objective of producing
goods and/or services to place them on the market and obtain, More often than not, a
benefit.

3. What are the characteristics of the entrepreneur?

- Achievement needs

- Recognition needs

Motivational Factors - Need for Personal Development

- Need for Independence

- Economic Benefit

- Personal initiative

- Optimistic

Personal characteristics - Decision capacity

- He is Persevering

- Emotional stability
 - Creative, innovative

Intellectual - Planning and monitoring

Characteristics - Ability to solve problems

- Understand the problems

- Leadership

- Network of contacts
General competencies
- Demanding

- Communicative

4. Keys to starting a successful business?

 Dominate your market. ...

 Prepare a business plan. ...
 Define who your client is. ...
 Listen to your future buyers. ...
 Analyze your competition. ...
 Draw up a marketing plan. ...
 Invest in technology. ...
 Seek advice and training.

5. Types of entrepreneur

Emprendedor
Administrativo

Emprendedor Emprendedores
Imitador Oportunista

Emprendedor Emprendedores
Incubador Adquisitivo
4. What is creativity?

Mental process that consists of the ability to give existence to something new, different,
unique and original.

- Power to create

- Creation capacity

6. How to increase creativity?

Steps to increase creativity

1) Take risks, don't be afraid of ridicule

2) Always seek excellence in what is done
3) Find different solutions to the same problem
4) Get used to searching for information when necessary
5) Do not discard ideas before analyzing them thoroughly
6) Do not criticize the ideas of others
7) When you fail once, try again
8) Don't wait for others to act
9) Be interested in different topics, even if it is outside our specialty
10)Surround yourself with creative and optimistic people
11)Always dream, explore new possibilities
12)Have fun while carrying out your activities
13)Maintain high self-esteem
14)Use different routines, break paradigms
 7. Characteristics of Creative People
 Flexibility of thinking
 Originality
 Imaginative
 Investigator
 Judgmental
 Balanced
 Self-critical
 They accept other people's opinions

6. What relationship do creativity and entrepreneurial projects have?

A creative entrepreneur is one who finds opportunities that others do not find and who creates
his own even if he finds existing ones. He learns when he can't, investigates when he doesn't
know and believes he can when he can't. We all have the same capacity to surprise with our
creative acts.

8. What is teamwork?

Working as a team involves the coordination of 2 or more people focused on achieving

common objectives. Each member must contribute to carry out a part of the work.

9. Steps to build a successful work team

1. Support ideas.
2. Encourage collaboration.
3. Delegate responsibility.
4. Offer feedback.
5. Be flexible.
6. Support employees .
7. Encourage development.
8. Recognize success .

9. What is a value proposition, its characteristics and advantages?

The value proposition is something that I frequently have to work on when I
start with a new client, some because they are launching a new project and
others because to reach the objectives it is necessary to rethink or reinforce
said proposal.

When a solid value proposition is achieved, conversions increase and the

costs of attracting new customers decrease, but it is not easy to achieve a solid
value proposition.

10. What is a Business plan?

Business plans emerged in the 60s and 70s in the United States, as a need to
determine with greater certainty and lower risk where the so-called financial surpluses
of companies should be invested.

Define sus
Cómo van a ser
objetivos futuros
alcanzados
y

Actividades
a las cuales Tiempo
se va a determinado
dedicar la
organizació
n Documento
escrito que:

11. Business plan objectives

1.- convencer a un
potencial
inversionista de la
oportunidad que
representa invertir
OBJETI en el negocio
VOS
DEL
PLAN
12. Types of business plans

Stage of
Plan name Company objective
Lifecycle

Business plan for a new

Market penetration
launch.
Start up or
Commissioning
Business plan for a new Attract an SME or a
company. corporation

Market penetration
Monitoring business plan.
Rent increase.
Growth

Purchase business plan. Value the company

Market check
Monitoring business plan.
Increased profitability
Maturity

Sales business plan. Value the company

 Decline Sales business plan. Value the company

13. Basic structure of a business plan

 Executive Summary

 Business Description

 Marketing and sales

 Production

 Management and HR H H.

 Financial planning

 Implementation plan

 Economic analysis

Topic 2 Nature of the project

1. Define mission and vision

MISSION

The mission of a company is its reason for being; It is the purpose or reason why it exists and,
therefore, gives meaning and guides its activities. The mission must contain and manifest
characteristics that allow it to persist over time, for example:

• Attention (customer orientation).

• High quality in your products and/or services.

• Maintain a philosophy of continuous improvement.

• Innovation and/or competitive distinctions, which give their products and services
specifications that

attract and keep the customer (long life, warranty, ease of use).

Every mission must answer three basic questions:

1. What? (Need that satisfies or problem that solves.)

2. Who? (Customers you intend to reach.)

3. How? (How the anticipated need will be satisfied

as an opportunity.)

A company's mission is its business card, so

requires constant review and self-assessment of operation

of the same to check if these are congruent with each other.

VISION

It is a statement that helps the entrepreneur follow the direction he is heading in the long term.
A clear vision allows you to establish objectives and strategies that become actions that inspire
all team members to reach the goal. Most new companies use time frames of between 5 and 10
years to achieve their vision.

A vision must be:

• Motivating for all members of the company.

• Clear and understandable.

• Feasible or achievable, even if it is not easy.

• Realistic, considering the current and changing environment in which we live.

• Aligned with the company's mission and values.

Parameters to write the vision of your company:

• What will my company be like in a few years?

• How do I want my company to be recognized by customers?

• What does this company offer to customers, suppliers and society?

• How far do I want to go with this company?

• What are the values and principles that govern the operations of

this company?
Secondly, you must observe current trends and investigate where the industry you want to
enter is heading, that is, pay attention to external factors that can influence

2. What is a SWOT

It is an analytical tool that will allow you to work with all the information you have about your
business, useful for examining your Strengths, Opportunities, Weaknesses and Threats. It is
also known as SWOT analysis.

 STRENGTHS
 OPPORTUNITIES
 WEAKNESSES
 THREATS

3. SWOT Analysis Objectives

The primary objective of the SWOT analysis is to obtain conclusions about the way in which
the object studied will be able to face changes and turbulence in the context (opportunities and
threats) based on its internal strengths and weaknesses.

4. Classification of middle companies

Companies are classified according to their capacity as micro, small, medium and large
companies.

CHAPTER 1 ENTREPRENEURIAL SPIRIT

1) Is the entrepreneur born or made?

The entrepreneur is born and made, from a young age we have ideas which must be formed
over time by getting together with people who will help us grow these ideas and see them
crystallized into a company.

2) Am I an entrepreneur?
If I am an entrepreneur since I have innovative ideas to achieve this by creating my own
business, it should be noted that I agree with most of the characteristics that an entrepreneur
has.

3) How many types of entrepreneurs are there?

There are 5 types of entrepreneurs:

 Administrative entrepreneur
 Opportunistic entrepreneur
 Acquisitive entrepreneur
 Incubator entrepreneur
 Copycat entrepreneur

4) What are the advantages of entrepreneurship?

 Generate my own income

 Innovate products, services, etc.
 Creation of new establishments and through these generate employment.

5) What are the disadvantages of entrepreneurship?

 Losing commitment to ourselves
 Making mistakes in translating erroneous ideas into reality, which coincide with our
aptitude.
 Lose what was invested
 Make products or services according to our convenience, which are not accepted by the
public.
 6) What are the characteristics of entrepreneurs?

 Perseverance
 Ability to improve problems
 Creativity and innovation
 Total commitment
 Orientation to goals and responsibilities
 Responsibility
 Initiative
 Ability to achieve goals
 Decision capacity
 Determination

7) Are we all entrepreneurs?

Not all of us have ideas in our minds that point to success, but many people are not
entrepreneurs, since they do not achieve their dreams, simply because they do not translate
them into reality. These errors may arise because the person does not have some of the
characteristics of the entrepreneur to create their business, or believe in themselves enough to
create their business.

8) What is the key to being a successful entrepreneur?

Improve the flaws that we find in ourselves, have confidence in our attitudes and skills and
make the most of them, to translate them into a future business.
 CHAPTER 2 CREATIVITY

1) Are we all creative?

It can be stated that all people have the ability to create new and socially valuable ideas
or objectives; they do so every time they transform ideas and mental images into
concrete facts.

2) What are the reasons or excuses (barriers) for not innovating?

Personal barriers:

 Of mental indolence. You don't have the ability to see the problems.
 Emotional type. Fear of failure, ridicule, conformity, etc.
Social barriers:

 When the circle in which that person operates does not allow spontaneity or the
expression of ideas.
 When there are teachers who do not give students the opportunity to make
changes.

3) Which of these barriers affect the most people?

The ones that affect the most are those of the emotional type. Such as fear of failure,
laziness, conformity, regret that everything is already invented, haste and the thought
that many resources are required.

4) How to increase creativity?

The first step towards a more creative life is the cultivation of curiosity and interest, that
is, paying attention to the things in the environment. As a second point, we must
cultivate the search for new experiences and knowledge, such as waking up in the
morning with a specific goal for the day. The next step is to control time, space and
activities to focus effort on concrete productive actions.

5) What relationship do creativity and entrepreneurial projects have?

Creativity is one of the characteristics of entrepreneurial people. This particular
characteristic allows the person to solve problems from different points of view.

6) What is the difference between innovating and creating?

Creating is giving rise to something new while innovating is making changes to an
existing product or idea with new attributes that give more value.

7) Why is the term “artist” confused with “creative”?

The artist is commonly confused with the creative person because the artist makes a lot
of use of creativity. According to Weisberg (1989), there are two types of scientific and
artistic creativity. The first focuses on subjects such as psychology, biology, chemistry,
among others, and the second applies to the arts, theater, painting, etc. Therefore,
artistic creativity has impacted our society.

8) In general, could it be said that a successful entrepreneur is distinguished

by his creativity?

Creativity is a fundamental part of a successful entrepreneur. This quality is valuable to

cultivate and companies must do everything possible to eliminate barriers such as:
tendency towards routine, lack of energy (laziness), attachment to confessionalisms,
time pressure to obtain results. This quality distinguishes successful entrepreneurs
because the creative person has a variety of ways to solve various problems.

TOPIC 3 MARKET STUDY

1. Define what is market

It can be understood as the place where exchanges are made, but in our case we will use
this term as the set of buyers and sellers of a product. Marketing. It is the human activity
aimed at satisfying the needs and desires of people through exchange processes.

2. Importance of market research

o Characteristics of the target market

o Competence
o Demand and sales forecasts
o Consuming patterns
 3. Ways to obtain information for market research.

Primary:

o Survey
o Interviews
Secondary:

o Institutions
o Websites

4. Definition of substitute good, Definition of final consumer goods, Definition

of
production goods, Definition of Complementary Goods, Capital Goods.

o Good substitute. They are those goods that fulfill a similar or identical function,
and therefore can be substituted for each other, obtaining similar results.
o Final consumer goods. They are designed to solve the needs of a consumer in a
very short period of time.
o Capital goods. They are used to produce other goods.
o Production Goods. Production Goods are thus machines and other facilities that
allow organizing productive processes that result in the creation of goods.
o Complementary good. It is a good that depends on another and these, in turn,
depend on the first. Because of this relationship, when the price of one of the
goods increases, the demand for the other decreases.
5. Demand: Potential, Unsatisfied, Effective, elastic demand, inelastic demand

o Elastic Demand. Characteristic of those goods whose demand changes

substantially as a result of changes in the price of said good or changes in
consumer income.
o Inelastic Demand. Demand that is characterized because the variation in the
price of a given good barely affects the variation in the quantity demanded of
that good, so that the rigidity of its demand is evident. Sometimes this
relationship is even non-existent, and then we speak of total rigidity of demand
 o Effective demand . It is the population with needs that seeks attention, that is,
those that effectively require and demand the services in which the project will
intervene.
o Potential demand . It is the population with needs that potentially require the
services in which the project will intervene.
o Unsatisfied demand. Unsatisfied Demand is the Demand that has not been
covered in the Market and that can be covered, at least in part, by the Project; In
other words, there is unsatisfied demand when demand is greater than supply.

6. What is the sale price and how is it determined?

The selling price is simply determining the cost that your product or service will have in
the market for the consumer.

There are three common types of pricing:

One of them is the cost-based selling price, which considers total costs, with benefits
already added. The second is pricing based on competition, which is determined by the
market value. The main challenge of this specific practice is to be on par with large
companies, which usually have more competitive prices.

Finally, there is the demand-based sales price, which must consider the consumer and
factors such as the reliability and credibility of your brand.

7. In the market study, what are the distribution channels and what are they?
Producing and delivering a product or service to buyers requires creating relationships
not only with customers, but also with key suppliers and resellers in the company's
supply chain.

They are the paths or channels through which the products or services are placed in the
hands of the end client or consumer. It is a structure made up of producers, distributors
and retailers, through which the product or service is marketed.
 CHAPTER 4 VALUE PROPOSITION

1. What is a value proposition?

The value proposition is the unique mix of products, services, benefits and added
values that the company offers its customers. The goal of preparing and developing
a strategic plan is to create a competitive advantage, add factors that identify and
differentiate the company from its competitors and give it a unique and superior
position in the market.

2. What are the advantages of writing a value proposition?

 Reflect functionality
 Include important information for customers
 Know and reflect the characteristics, visible or not, that attract a potential buyer
 Communicate what the company does best or differentiates it from the
competition
 Be simple and understandable enough
 Seek customer loyalty by showing the benefits your products or services offer.
3. How can a value proposition make the consumer prefer a certain product or
service over that of competitors?

By receiving more for more, for the same, the same for less, less for much less,
more for less. This makes the customer find benefits towards some products and
they feel that it adapts to their needs or benefits.

4. What are the characteristics of a value proposition?

 Reflect the functionality, service, image, opportunity, quality and price that a
company offers to the customer
 Include important information for customers, such as delivery times and risks or
expectations.
 Know and reflect the characteristics, visible or not, that attract a potential buyer,
which defines the company as proactive towards its customers.
  Communicate what the company does best or differentiates it from the
competition.
 Be simple and understandable enough so that the potential client appreciates the
benefits.
 Seek customer loyalty by showing the benefits that your products or services
offer.
5. What elements should a good value proposition include?
 The qualities of the product, how the product or service differs from the
competition, the price, quality, benefits.
 Relationship with the consumer, that the client feels satisfied with the product or
service, how they will benefit and that they perceive the profits according to the
cost-benefit
 Image and prestige, the way customers will see companies, and the way
companies attract customers
6. What does the success of a value proposition consist of?

To achieve success, the consumer and the company must benefit from the production
and sale of goods and services. Furthermore, for the proposal itself to be successful, the
latest in technology must be used for the production of the products, because this
attracts more customers. In addition, the company must find resources that make it
easier to produce the products and ensure that this is done in an efficient manner. In
addition, there must be an effective market study so that the producer wins.

7. What are some recommendations for writing value propositions?

 Know the brands you are going to work with, and know their quality standards.
 Realize that by offering something different we are going to attract more
customers, that “added value”.
 Differentiate ourselves from the competition, offering new things to customers.
 Get ahead of the competition, if you are the first to offer products you get that
differentiation.
 The speed in fixing errors sets you apart from others.
 Strategic alliances with companies that complement the operation is an
advantage over the competition.
 Not increasing costs, without sacrificing quality, will keep customers happy