Presentation on theme: "Entrepreneurship #1 Objectives * Know the definition of entrepreneurship * Understand the advantages and risks of entrepreneurship * Know the characteristics."— Presentation transcript:
1 Entrepreneurship #1Objectives * 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 To expand your possibilities The Goal of this unit is . . .To expand your possibilitiesWhere you’re goingWork forsomebodyelseOwn yourown businessYou
3 Literally every business began as an entrepreneurship Write down the name of a businesses that was started as an entrepreneurship. When finished, quietly stand upLiterally every businessbegan as an entrepreneurship
4 What is Entrepreneurship? Entrepreneurship – the process of starting and operating your own businessEntrepreneur – the people who create, launch, organize and manage a new business and take the risk of business ownershipWhat are the risks?Business failureFinancial lossLoss of employmentLoss of time33% of all new businesses fail within 2 years. 50% fail within 4 years.Why do it?!!!
5 Advantages of Entrepreneurship? Personal freedom & satisfactionIncreased self-esteem and incomeThe driving reason?Financial prosperity
6 Are you an Entrepreneur? The entrepreneurial personality: Self-Starter. Know what you want and get up every day and make it happenOutgoing Person. Enjoy meeting new peopleLifelong Learner. Consistently looking for ways to improve yourself, your product and meet customer needsOptimist. Create your own self-fulfilling prophecy. You must truly believe regardless of the circumstances.
7 Entrepreneurs and our economy “Small businesses” (less than 500 employees)Make up 99% of all employersProvide 75% of all new jobsTherefore, entrepreneurs are the driving force of the US economy
8 Take Entrepreneurial Test Yes answers30 – 27 You are a true independent spirit and becoming an entrepreneur is a likely path to success and happiness.26 – 20 You have the profile of an entrepreneur. You can succeed on your own. Consider this a definite option in your life.19 – 14 You 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 – 9 You 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 less You 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 Discussion Name the disadvantages of Entrepreneurship Name the advantages of Entrepreneurship“Roots of Entrepreneurship” DiscussionOne at a time, let’s name a company