Minipreneurship

Question 1

What is minipreneurship?

Answer 1

Consumers who do not merely consume but also create, produce and trade goods, services and experiences.

Question 2

How do minipreneurships start and keep costs low?

Answer 2

They can start out trading on online auction websites and sell nice products to gap markets.

• Accounting, promotion and marketing are taken care of so focus is on inventory.
• Costs are kept down by using low-cost online products and services such as paypal for accepting credit card payments.
• Google Adsense and other online advertising schemes allow additional income streams.

Question 3

Define long tail?

Answer 3

Potential customers that seek goods with unusual characteristics, whose needs can now be met through reduced marketing costs and distribution costs.

Question 4

What type of market do minipreneurs and long tail businesses use

Answer 4

Niche markets.

Question 5

Describe the rise of minipreneurs, the pros and cons

Answer 5

• A minipreneur is a person whose business is based on the expert knowledge or experience they have acquired and how they leverage the internet.
• They have a highly developed network of intermediaries, tools ad resources. They have access to hardware and software, design, oroduction and manufacturing. They get their businesses up and running instantly.
• Have control over ones destiny
• ## Isolation is a con