Business Administration- Entrepreneurs Eliezer Santiago Mariel Leynes Trinidad Reyes Nayelly Soriano Jolanta Kosiorowska
Entrepreneur A person who starts a new business venture. People who have a talent for seeing opportunities and the abilities to develop those opportunities into profit- making businesses.
Facts about Entrepreneurs Provide approximately 75% of the net new jobs added to the economy Represent 99.7% of all employers Employ 50.1% of the private work force Provide 40.9% of private sales in the country Account for 39.1% of jobs in high technology sectors in 2001 Account for 52% of private sector output in 1999 Represent 97% of all US exporters
Internet Entrepreneurs Individuals who are familiar with the culture and technology of the Internet and are able to apply their knowledge to sell products and services via the Internet.
Task and Responsibility Knowledge of business and management principles involved in tactical planning, resource allocation, human resources coordination, and leadership technique. Strong interest in coordinating data, resources, and people. Capacity to negotiate with people and to get along with clients. Orientation toward quality customer service. Being able to work more than 40 hours a week.
Median Salary/ Growth Potential The earnings of self-employed entrepreneurs depend upon the relative success of their businesses. Some lose money year after year, while others go on to become billionaires. Salaries can vary greatly due to company, location, industry, experience and benefits. The average salary for entrepreneur jobs is $111,000.$111,000.
Entrepreneur Salary Samples CHILD CARE OWNERS FRANCHISE OWNERS $20,000 to $30,000 to$50,000+ $25,000 to $87,000 to $171,000+
Chief Executive Officer (CEO) Mean Hourly Wage: $72.77* Mean Annual Wage: $151,370* * As of May 2007
Necessary Skills to be a Successful Entrepreneur Good interpersonal skills Be very independent Take on different tasks Be open minded Be able to multitask Be able to lead
Experiences Needed Customer assistance. College Degree, at least an Associates Degree. Work experience in a place like the one you would like to own one day, for knowledge on how to run it and things that can go wrong. Need to be a leader and not afraid to speak up. Very important to be confident from experience by working with others.
Entrepreneur’s Personality Types Social Creative Risk Taker
Educational Backgrounds are based on: The individual mind To gain experience How much they want to be successful Want more money by getting a Masters Degree Some believe more knowledge means more money or profit.
Good kills and experience we as students can relate are : Having some sort of source recognition Have been working in the field, of what one they we would like to own Studying in school and gaining knowledge about the Business World Interpersonal skills are also grown through experience working with people
We as candidates can be seen : With very much potentials Very dedicated and willing to progress Having plenty of knowledge what to expect and the challenges we can face through our decision of becoming an entrepreneur
Type of Internship and Career Related Skills An internship that one would like to pursue in this field would be to inter in a company/business in where you assist the president or vice president of the company. Some skills that you get out on an internship would be: Communication skills Listening skills Leadership skills Creative thinking skills In this experience you’ll learn how to interact with colleagues. Most importantly you’ll get to observer the president or vise president of the company. Also you’ll learn how start your own company and all the requirements needed to do so.
Organizations for Entrepreneurs The Entrepreneurs’ Organization (EO) is a global network of business owners, all of whom run companies that exceed US$1M in annual revenue. We engage leading entrepreneurs to learn and grow through executive education and other tools CEO Club 180 Varick Street Penthouse New York NY phone: fax: USASBE United states association for small business and entrepreneurship- is an organization of eclectic group of government officials, directors of small business development centers, and academics in fields like finance, marketing, management, and economics united by their common interest in entrepreneurship and small business.
Organizations for Entrepreneurs Small Business Administration (SBA) The SBA is an independent agency that operates under the authority Small Business Act of Since this organization provides a broad varieties of product and services, to become a member you possess: Desire and willingness to succeed. Able to complete and follow instructions given by organizations. Some fees may apply. /http://www.sba.gov /
Organizations for Entrepreneurs Young Entrepreneur’s Association Non-profit educational organization for entrepreneurs and business owners under age 40. To join you must possess the following: A) Be the founder, co-founder, owner or controlling shareholder of a company B) Hold one of the above titles for a company that grosses more than US$1 million annually Join before age 50
Organizations for Entrepreneurs The Small Business Development Center at LaGuardia Education. Entrepreneurship. Economic Development. To join in you’ll need to comply with the following: a) A non-refundable registration fee of $12 is required for all courses except the intensive English as a Second Language program, for which a $25 registration fee is required. b) LaGuardia Community College alumni, faculty and staff, and senior citizens recipients may receive discounts for courses on a space available basis. c) Open to all applicants.
Interviews #1 Amriamny De la Cruz #2 Noemi Pagan Background: Has a Deli & Grocery store located at 2407 Second Avenue, between 124 St and 123 St, New York NY Her business is a partnership. Background: Has a Bakery business located in Dorado Puerto Rico. Her business form is a sole proprietorship.
Interview #1: Amriamny De la Cruz 1. What are the advantages of your business? Combined skills Combined knowledge Greater personal interest Higher income Ability to get better credit for loans Higher capital
Interview #1: Amriamny De la Cruz 2. What are the disadvantages of your business? Business owners are responsible for all debts. Management disagreements. What happens if a partner dies or decides to quit. Frozen investments.
Interview #2: Noemi Pagan 1. What are the advantages of your business? Easy to start up It’s flexible You are your own boss All earnings are yours There are no special taxes
Interview #2: Noemi Pagan 2. What are the disadvantages of your business? You’re responsible for all debts. It’s hard to hire good prospective employees. Not easy to receive loans or capital. It’s difficult to do everything by yourself. The day you don’t work usually there’s no income.
Career Trends Long Term Market Trends Accounting services Legal services Dental services Specialized Design Services Insurance Brokers Physicians' Offices Medical and Diagnostic Labs Depository Credit Intermediation
Career Trends Short Term Career Trends Food Restaurant Services Technology Services Specialized Design Services Internet-billions of dollars of goods sold online Online gaming.
Comparing Personalities Natural Intelligence Test People/Interpersonal Intelligence -“the ability to work and relate effectively with others. To be aware of motivation, emotions and goals.” Careers Such as: Accounting Counselor Human Resource Specialist Occupational Therapist Politician Sales Representative Social Worker System Representative Teacher System Analyst
Dr. Phil Personality Test Elizer Trinidad Mariel Jolanta Nayelly The Lively Center of Attention -“Others see you as fresh, lively, charming, amusing, practical, and always interesting; someone who’s constantly in the center of attention, but sufficient well-balanced not to let it go to their head. They also see you as kind, considerate, and understanding; someone who’ll always cheer them up and help up and help them out.”
Why this field interest us? We all have similar characteristics, interests, goals, and different ways that we envision life. We are leaders. We are aiming for success. We are hungry for knowledge and the opportunity to succeed.
Why this field interest us? (Cont.) We want to enjoy the benefits of business ownership that includes: Independence Flexibility Being your own boss All earning are yours Higher income You are in command of your time, life, and decisions.
Sources used: Occupational Outlook Handbook guide/business/entrepreneurship-major.htm guide/business/entrepreneurship-major.htm