1. ENTREPRENEURSHIP Lecture No: 10 BY CH. SHAHZAD ANSAR

2. The Individual Entrepreneur-II

3. Role Models and Support systems

4. Role Models  parents, relatives, or entrepreneurs in the community.  may serve as mentors.  may help establish a moral support network.  invaluable source of counsel and advice. Who are your entrepre- neurial role models?

5. Moral-Support Network

6. Professional- Support Network

7. Male versus Female Entrepreneurs

8. Entrepreneurs Men Vs. Women  motivated to achieve independence and ‘make things happen.’  Departure point: job dissatisfaction, layoff.  Support group: friends, professional acquaintances.  Initiates between ages 25- 35. More likely to start a business in manufacturing, construction or high tech.  motivated to accomplish a goal and achieve independence.  Departure point: job frustration, change in personal circumstances.  Support group: spouse, family, close friends.  Initiates between ages 35- 45. More likely to start a service business. Most other dimensions show no differences. (Hisrich & Peters, p. 76)

9. Minority Entrepreneurship

10. Entrepreneurs versus Inventors

11. Entrepreneur Vs. Inventor An inventor creates something for the first time. While the entrepreneur falls in love with the new venture, the inventor falls in love with the invention and often requires the expertise of an entrepreneur to launch a new venture. Historians classify Albert Einstein as an inventive genius and Henry Ford as an entrepreneurial genius. Do you agree or disagree? Why?

12. Warning: Difficult personality types. This type is well grounded in theory but lacks real-world business experience. Ralph the Rookie A type so in love with his own idea the he feels everyone is out to steal his idea and take advantage of him. Prima Donna Paul A type who thinks everything is a lot simpler than it actually is and feels she can create a successful business through easy solutions. Simplicity Sue An entrepreneurial type who quickly identifies new, promising opportunities but rarely, if ever, follows through. Shotgun Sam

13. Difficult personality types (continued) An inventor more than an entrepreneur, Irving is more concerned with the invention itself rather than creating and expediting a business. Inventor Irving This type does not have the right motives and objectives for developing and expediting a new enterprise. Hidden Agenda Harry This type is not comfortable with actually transforming the invention into a tangible business success. Attends seminars. Underdog Ed A perfectionist type who is so used to having things under control that she cannot handle catastrophe, ambiguity and/or chaos. Meticulous Mary

14. ENTREPRENEURSHIP Lecture No: 10 BY CH. SHAHZAD ANSAR