What is an Entrepreneur

1
What is an Entrepreneur?

• Unit 1 Lesson 1

2
Definition

• Entrepreneur an individual who undertakes the
  creation, organization, and ownership of a
  business. They accept the risks and
  responsibilities of business ownership to gain
  profits and personal satisfaction.
• Who knows someone who owns their own business?

3
Couple Extra Terms

• Entrepreneurship the process of recognizing an
  opportunity, testing it in the market, and
  gathering resources necessary to go into
  business.
• Entrepreneurial acting like an entrepreneur or
  having an entrepreneurial mind-set.

4
Fun Facts

• 90 of all businesses are small, with fewer than
  100 employees.
• 62 of these are based out of a persons home.
• There are people out there to help. SBA, BBB, etc

5
Why own your own Business?

• Advantages
• Being Your Own Boss Freedom!
• Doing Something You Enjoy Fun!
• Opportunity to be creative Innovate!
• Set Your own schedule Flexible!
• Job Security Control Your own Destiny!
• Make More Money Unlimited potential!
• Recognized in the Community Respect!

6
Why not own your own Business?

• Disadvantages
• Working Long Hours Exhausted
• Uncertain Income Lack of Stability
• Being Fully Responsible You are it
• Risking Ones Investment Big Risk

Can you think of any other possible disadvantages
of owning your own business?
7
Beware Its not all peachy!

• As an entrepreneur you will be faced with
  constant competition from other people who think
  they can do it better.
• Competition the rivalry among businesses for
  consumer dollars.
• Price vs. Non-price Competition
• Small business owners can also lose their
  investment, which is the money they have
  invested in their business.
• This is the largest risk a new business owner
  faces.

8
Beware its not all peachy!

• What all is at Stake?
• An Entrepreneur uses the money they gathered to
  start the business in order to purchase all the
  items needed to produce their good or service.
• Collectively, these items are called Capital and
  can include
• Buildings, tools, equipment, supplies, uniforms,
  furniture, computers, cars, and even and time
  spent training employees.

9
So How can You become an Entrepreneur?

• Most Entrepreneurs arent your average Joe
  Shmoe
• They work hard and possess a set of specific
  qualities/characteristics that set them apart.
• Never fear, they can be learned, developed, and
  practiced.

10
Characteristics of a great Entrepreneur!

• Persistent
• Creative
• Responsible
• Inquisitive
• Goal-Oriented
• Independent

• Self-Demanding
• Self-Confident
• Risk-Taking
• Restless
• Action Oriented
• Enthusiastic

11
Developing those Characteristics

• There are four great ways to work on and develop
  your Entrepreneurial skills.
• Reading
• Writing
• Watching
• Solving
• We are going to practice each.

12
Do you love Cookies?

• Wally Amos Did and created a cookie empire!
• Lets learn more about Wally, by reading,
  writing, solving problems, and watching.

13
Continual Process

• Over the Next few days well be doing some
  activities to develop your Entrepreneurial skills
  and characteristics