2Someone who takes risks in starting a business. Entrepreneur Jay-Z
3Risks??? Venture- business undertaking involving risks Risks- possibility of damage, injury, or lossCan you be successful without taking risks?Risks???
46 Types of Entrepreneurial Business Retailing- selling products to peopleService- sell servicesManufacturing- actually produce the products they sellWholesaling- sell the products to people other than the final customer
56 Types of Entrepreneurial Businesses Agricultural- generate fresh produce & other farm productsMining & extracting- take resources like coal out of the ground so they can be consumed
14Entrepreneur Truett Cathy OpportunitiesIndependencePersonal satisfactionMake a profitAdventureIncomeControl over your own businessContribute to societyEntrepreneur Truett Cathy
15Entrepreneur Donald Trump RisksIncomeMight lose investmentLong hours, hard workQuality of lifeStressDiscouragementResponsibilityCompetitive pressureExpenses, lack of moneyLack of experienceEntrepreneur Donald Trump
17Failure: Top 10 Reasons Management mistakes** Lack of experience Poor financial controlWeak marketing effortsLack of a strategic planUncontrolled growthPoor locationImproper inventory controlIncorrect pricingInability to make the “entrepreneurial transition”