LESSONS ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 SHOULD YOU BECOME AN ENTREPRENEUR? What is an Entrepreneur? Is Entrepreneurship Right for You? Entrepreneurial Quiz

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Curriculum Expectations: compare a variety of postsecondary learning options (e.g., apprenticeship, college, distance education, on-the-job training, private training, university) and identify those most suited to them based on their personal interests, competencies, and aspirations identify a broad range of local and regional work opportunities, including self-employment and entrepreneurship, using a variety of resources (e.g., Internet websites, field trips, guest speakers, employment centres). use a variety of assessment tools to produce a personal profile that describes their current interests, skills, competencies, accomplishments, and characteristics, and identify occupations that are suited to their personal profile Chapter 1 Slide 2

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 3 Lesson 1.1 WHAT IS AN ENTREPRENEUR? Define entrepreneurship. Identify types of businesses. Identify the impact of entrepreneurs and small business today. GOALS

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 4 WHAT IS AN ENTREPRENEUR? Definitions People who own, operate, and take the risk of a business venture are called entrepreneurs. Entrepreneurship is the process of running a business of one’s own. Employees vs. entrepreneurs Why do people become entrepreneurs?

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 5 TYPES OF ENTREPRENEURIAL BUSINESSES Manufacturing Wholesaling Retailing Service Agricultural Mining and extracting

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 6 EXAMPLES OF MANUFACTURING BUSINESSES Apparel and other textile products Chemicals and related products Electronics and other electrical equipment Fabricated metal products Food products Industrial machinery and equipment Printing and publishing Rubber and miscellaneous plastic products Stone, clay, and glass products

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 7 EXAMPLES OF WHOLESALING BUSINESSES Apparel Electrical goods Groceries and related products Hardware, plumbing, heating equipment Lumber, construction materials Machinery, equipment, supplies Motor vehicles, automotive equipment Paper, paper products Petroleum, petroleum products

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 8 EXAMPLES OF RETAILING BUSINESSES Auto and home supply stores Building materials and supply stores Clothing stores Florists Furniture stores Gift, novelty, and souvenir stores Grocery stores Hardware stores Jewelry stores Retail bakeries Shoe stores Sporting goods and bicycle stores

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 9 EXAMPLES OF SERVICE BUSINESSES Appliance repair Automotive repair Babysitting Bookkeeping Consulting Dance instruction Electrical services Exterminators Flower decorating House cleaning Lawn care Painting Plumbing Translating Travel agency Tutoring

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 10 SMALL BUSINESSES DOMINATE THE CANADIAN ECONOMY

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 11 Lesson 1.2 IS ENTREPRENEURSHIP RIGHT FOR YOU? Identify the characteristics of successful entrepreneurs. Assess whether you have what it takes to succeed in your own business. GOALS

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 12 CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS Successful entrepreneurs are independent are self-confident have determination and perseverance are goal-oriented have a need to achieve and to set high standards for themselves are creative are able to act quickly

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 13 ASSESS YOUR SUITABILITY FOR ENTREPRENEURSHIP Assess your interests Hobbies and interests Past experiences Assess your aptitude Assess the advantages of entrepreneurship Assess the disadvantages of entrepreneurship

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 14 JOB ATTRIBUTES CHECKLIST  I enjoy working with numbers.  I enjoy working outdoors.  I enjoy working with my hands.  I enjoy selling.  I like working with people.  I prefer to work alone.  I like supervising other people.  I like knowing exactly what it is I am supposed to do.

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 15 ADVANTAGES OF ENTREPRENEURSHIP Entrepreneurs are their own bosses. Entrepreneurs can choose a business that interests them. Entrepreneurs can be creative. Entrepreneurs can make lots of money.

ENTREPRENEURSHIP: Ideas in Action© SOUTH-WESTERN PUBLISHING Chapter 1 Slide 16 DISADVANTAGES OF ENTREPRENEURSHIP Entrepreneurship is risky. Entrepreneurs face uncertain and irregular incomes. Entrepreneurs work long hours. Entrepreneurs must make all decisions by themselves.