LESSON 1.1 ENTREPRENEURS AND THE U.S. ECONOMY

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Presentation transcript:

LESSON 1.1 ENTREPRENEURS AND THE U.S. ECONOMY Define entrepreneur and distinguish between an entrepreneur and an employee Identify the impact of entrepreneurs on the American economy

Who is an Entrepreneur? One who owns and operates a business venture One who accepts all the risks One who tries to identify and meet a need for a product or service © South-Western Educational Publishing

Entrepreneurs Own All Types of Businesses Turn to page 5 in your textbook for the Types of Entrepreneurial Businesses © South-Western Educational Publishing

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

Characteristics of Successful Entrepreneurs Independent Self-confident Determined Goal-oriented Need to achieve and set high standards Creative Able to act quickly © South-Western Educational Publishing

Assess Your Aptitude 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. © South-Western Educational Publishing

LESSON 1.3 IDENTIFY OPPORTUNITIES Recognize different businesses you could start Identify your own personal goals

Resources for Finding Business Opportunities Books on entrepreneurship Magazines for entrepreneurs Government publications Small Business Administration (SBA) Trade shows Internet © South-Western Educational Publishing

Setting Goals Financial Non-Financial How much money you will earn How soon you can pay off debt Realize if goals are realistic and obtainable Non-Financial Meet a community need Work at something you enjoy Maintain independence © South-Western Educational Publishing