Presentation is loading. Please wait.

Presentation is loading. Please wait.

What is an Entrepreneur?

Similar presentations

Presentation on theme: "What is an Entrepreneur?"— Presentation transcript:

1 What is an Entrepreneur?

2 Someone who takes risks in starting a business.
Entrepreneur Jay-Z

3 Risks??? Venture- business undertaking involving risks
Risks- possibility of damage, injury, or loss Can you be successful without taking risks? Risks???

4 6 Types of Entrepreneurial Business
Retailing- selling products to people Service- sell services Manufacturing- actually produce the products they sell Wholesaling- sell the products to people other than the final customer

5 6 Types of Entrepreneurial Businesses
Agricultural- generate fresh produce & other farm products Mining & extracting- take resources like coal out of the ground so they can be consumed

6 Entrepreneurs

7 What is Entrepreneurship?

8 Ability and willingness to develop, organize and manage a business.
Goal: Profit Challenge: Risk Entrepreneur Oprah Winfrey

9 Personal Traits of Successful Entrepreneurs

10 Entrepreneur Mark Zuckerberg
Entrepreneurs are… Competitive Creative Energetic Goal oriented Independent Inquisitive Persistent Reliable Self-confident Entrepreneur Mark Zuckerberg

11 Entrepreneur Ted Turner
Entrepreneurs can… Partner with others Secure resources Spot opportunity Learn from failure Self-motivate Problem solve Maintain integrity Deal with ambiguity Work hard Entrepreneur Ted Turner

12 1 in 10 Americans, Ages 18-64 involved in entrepreneur activities
625,000 new businesses/year Very risky Almost as many close each year Start with $10K or less Entrepreneur Economy

13 Opportunities and Risks in Starting a Business

14 Entrepreneur Truett Cathy
Opportunities Independence Personal satisfaction Make a profit Adventure Income Control over your own business Contribute to society Entrepreneur Truett Cathy

15 Entrepreneur Donald Trump
Risks Income Might lose investment Long hours, hard work Quality of life Stress Discouragement Responsibility Competitive pressure Expenses, lack of money Lack of experience Entrepreneur Donald Trump

16 Reasons for Failure

17 Failure: Top 10 Reasons Management mistakes** Lack of experience
Poor financial control Weak marketing efforts Lack of a strategic plan Uncontrolled growth Poor location Improper inventory control Incorrect pricing Inability to make the “entrepreneurial transition”

18 Effective planning Good management Success

19 Failure in Perspective


21 The venture fails, not the entrepreneur.

22 Discussion Questions

23 Entrepreneurs can fail even if they are committed and have the characteristics needed to be successful. Why do you think this can happen?

24 Why is it important for entrepreneurs to choose a field that they will enjoy?

25 Do you think the advantages of entrepreneurship outweigh the disadvantages?

Download ppt "What is an Entrepreneur?"

Similar presentations

Ads by Google