1. Should You Become an Entrepreneur?1
Should You Become an Entrepreneur?
1.1 All About Entrepreneurship
1.2 Is Entrepreneurship Right for You?
1.3 Exploring Ideas and Opportunities
1.4 Problem Solving for Entrepreneurs

2. Ideas in Action Making Job Connections
After identifying an unmet need in the marketplace, 4Teens Network was established to match employers and teen employees.
After business model testing was completed, external financing was obtained.
The company continues to be successful.
Chapter 1

3. Lesson 1.1 All About Entrepreneurship
Goals
Define entrepreneurship.
Recognize the role entrepreneurs play in the U.S. economy.
Examine the reasons that businesses succeed or fail.
Chapter 1

4. Terms
entrepreneurs
entrepreneurship
employees
Chapter 1

5. What is an Entrepreneur?
entrepreneurs
people who own, operate, and take the risk of a business venture
entrepreneurship
running a business of one’s own
Chapter 1

6. Entrepreneurs identify unmet needs in the marketplace.
They provide a service or product to meet those needs.
Chapter 1

7. employees people who work for someone else
are subjected to neither the risks nor benefits of business ownership
Chapter 1

8. Reasons for becoming an entrepreneur include:
the desire to set your own schedule
the need to work out of your home
the wish to pursue a personal dream
Chapter 1

9. Types of Entrepreneurial Businesses
manufacturing
wholesaling
retailing
service
Chapter 1

10. Chapter 1

11. Other Entrepreneurial Businesses
agricultural
mining and extracting
Chapter 1

12. Describe different types of entrepreneurial businesses.
Chapter 1

13. Recognizing Opportunity
Many companies began with one person who started a business based on a single opportunity.
Small businesses employ more workers than all of the country’s large corporations combined.
Chapter 1

14. Entrepreneurs Who Changed America
Starbucks Coffee Company
retailer of coffee products
introduced new product, Espresso
became international coffeehouse franchise
Chapter 1

15. The Home Depot
corporate vision was to provide home improvement products
at the lowest price
with the best customer service
within 30 years, has expanded to 2,100 stores
Chapter 1

16. HARPO Productions, Inc. founded in 1986
Oprah Winfrey is the first woman in history to own and produce her own talk show
HARPO Entertainment Group
HARPO Films
HARPO Video
Chapter 1

17. Describe how one of the entrepreneurs discussed above recognized an opportunity to develop a successful business.
Chapter 1

18. Business Success or Failure
Over half of all new businesses fail within their first four years.
Success requires a firm understanding of how to run a business.
Perseverance is a requirement for success.
Chapter 1

19. What factors contribute in helping a business to succeed?
Chapter 1