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 lossCan you be successful without taking risks?Risks???
4 6 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
5 6 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
14 Entrepreneur Truett Cathy OpportunitiesIndependencePersonal satisfactionMake a profitAdventureIncomeControl over your own businessContribute to societyEntrepreneur Truett Cathy
15 Entrepreneur Donald Trump RisksIncomeMight lose investmentLong hours, hard workQuality of lifeStressDiscouragementResponsibilityCompetitive pressureExpenses, lack of moneyLack of experienceEntrepreneur Donald Trump
17 Failure: 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”