Chapter 2

• Financial risk - an entrepreneur will need funds to launch a business.
• Strategic risk - am impressive business plan will appeal to investors
• Technology risk - new technology are constantly emerging particularly in the era of the fourth industrial revolution. Paradigm shifts or disruptive technologies.
• Market risk - the ups and downs of the economy and new market trends pose a risk to new businesses. A certain product may be popular one year but not the next.
• Reputational risk - it is everything, when a new business is launched and customers have preconcieved expectations
• Environmental political and economic risk - some things cannot be controlled by a good business plan or the right insurance.
• Job satisfaction - many entrepreneurs start business because they have passion for it
• The rewards of entrepreneurship

  Job satisfaction

  Greater control

  Higher wage
• Types of entrepreneurship SLSS IHI BR

  Small business entrep

  Large company entrep

  Scalable start up entrep

  Social entrep

  Innovative entrep

  Hustler entrep

  Imitator entrep

  Buyer entrep

  Researcher entrep
• Importance of TECHNOPRENEURSHIP

  Creating employment opportunities

  Local resources

  Business diversification and decentralization

  Technological advancements

  Capital formation
• Cyberpreneurship - is a phenomenon unique to the digital age
• Cyberpreneur - an entrepreneur that utilize the digital world to start ....
• Areas of cyberpreneurship

  Digital information

  Physical products

  sponsorships

  brand builder

  Consultancy and services
• Selling digital information products - lowest entry barrier for any cyberpreneurs
• Selling physical products - similar to the traditional brick and mortar entrepreneurs
• Selling sponsorship - can create and sustain a thriving online community around your personal or business brand
• Selling brands - cyberpreneurs will also have the option of existing their digital businesses by selling the brand that they have built overtime