NVC Chapter 1: What You Bring to Entrepreneurship

Young, high-growth firms (usually over 20 percent per annum). Unicorns have higher growth than gazelles.

A person who creates and/or exploits change for profit by innovating, accepting risk and moving resources to areas of higher return.

Firms that simply generate an income comparable to what the owner-manager might earn as an employee.

Firms that allow the owner-manager to pursue a particular lifestyle and earn an acceptable living while doing so.

Workers seeking temporary, short-term work with companies obtained by searching out opportunities on smartphone-based apps. Their status as self-employed is questionable.

Firms that are set up to grow from the start and bring innovative ideas and ways of doing things to the market.

Setting direction, communicating with and motivating staff.

Salaried employees of a company acting in an entrepreneurial fashion, usually to create new ventures for their employers.

An entrepreneur in a civic organization

An entrepreneur working in a social enterprise.

Those people who buy your product/service.

Normally refers to financial capital but can also refer to social and human capital.

A loosely used term (sometimes just called capital) that refers to the money invested in the business. This can come from the founders, other equity investors or from loans (often referred to as loan capital).

Using resources that you do not own.

The skills and experience gained from education, training and previous experience.