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Objectives * Know the definition of entrepreneurship * Understand the advantages and risks of entrepreneurship * Know the characteristics and skills of.

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Presentation on theme: "Objectives * Know the definition of entrepreneurship * Understand the advantages and risks of entrepreneurship * Know the characteristics and skills of."— Presentation transcript:

1 Objectives * Know the definition of entrepreneurship * Understand the advantages and risks of entrepreneurship * Know the characteristics and skills of entrepreneurs * See the value of small business in our economy

2 You Where you’re going Work for somebody else Own your own business

3 Literally every business began as an entrepreneurship

4 Entrepreneurship – the process of starting and operating your own business Entrepreneur – the people who create, launch, organize and manage a new business and take the risk of business ownership What are the risks? Business failure Financial loss Loss of employment Loss of time Why do it?!!! 33% of all new businesses fail within 2 years. 50% fail within 4 years.

5 1) Personal freedom & satisfaction 2) Increased self-esteem and income The driving reason? Financial prosperity

6 The entrepreneurial personality: Self-Starter. Know what you want and get up every day and make it happen Outgoing Person. Enjoy meeting new people Lifelong Learner. Consistently looking for ways to improve yourself, your product and meet customer needs Optimist. Create your own self-fulfilling prophecy. You must truly believe regardless of the circumstances.

7 “Small businesses” (less than 500 employees) Make up 99% of all employers Provide 75% of all new jobs Therefore, entrepreneurs are the driving force of the US economy

8 Yes answers 30 – 27 You are a true independent spirit and becoming an entrepreneur is a likely path to success and happiness. 26 – 20You have the profile of an entrepreneur. You can succeed on your own. Consider this a definite option in your life. 19 – 14You have the potential to become an entrepreneur. However, there are still some aspects that you are not comfortable with. You should definitely investigate yourself further, before attempting to go off on your own. 13 – 9You are a borderline entrepreneur. You can become one, if you really work on yourself. You will want to thoroughly investigate all career options. 8 or lessYou will have to work with a partner who will complement your aptitudes and abilities. Truly going off on your own is likely not a good choice for you.

9 Name the disadvantages of Entrepreneurship Name the advantages of Entrepreneurship “Roots of Entrepreneurship” Discussion One at a time, let’s name a company


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