1. Your Potential as an Entrepreneur
Why Be an Entrepreneur
Chapter 2, Section 1

2. Rewards of Entrepreneurship
The greatest rewards of owning a business are intangible
Independence
Personal satisfaction
Prestige
Being Your Own Boss
Freedom to make business decisions
Final say
Determine hours of operations, products offered, and direction of expansion

3. Rewards of Entrepreneurship
Doing Something You Enjoy
Create and develop a business around a special interest
Having the Opportunity to Be Creative
Can shape the business
Having the Freedom to Set Your Own Schedule
Flexibility to determine schedule
Can work at home, office, or location that suits them

4. Rewards of Entrepreneurship
Having Job Security
Control their own destiny
Successful business = job security
Making More Money
Business owner’s earnings are limited only by the potential of the business
Being Recognized Within the Community
Economic contribution
Investments
Job creation

5. Risks of Entrepreneurship
Competition – the rivalry among businesses for consumer dollars
Includes long hours, uncertain income, responsibility, and the potential loss of money
Working Long Hours
Especially during the start-up period
Having an Uncertain Income
No regular paycheck
May not have benefits
Such as health insurance and vacation time

6. Risks of Entrepreneurship
Being Fully Responsible
The owner is ultimately responsible for all tasks that need to be completed
Risking One’s Investment
Biggest risk is possibly losing one’s investment
Investment: the money a person puts into their business as capital
Capital: includes the buildings, equipment, tools, and other goods needed to produce a product or the money used to buy these things
The venture must be up and running before counting on earnings