Your Potential As An Entrepreneur
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Transcript of Your Potential As An Entrepreneur
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Your Potential As An Entrepreneur
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Why Be an Entrepreneur?Objectives:
1. Identify the rewards of going into business for yourself.
2. Recognize the risks of going into business for yourself
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The Main IdeaWhen you consider going into business for yourself, an important first step is to analyze the advantages and
disadvantages of entrepreneurship.
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Rewards/Advantages of Entrepreneurship BEING YOUR OWN BOSS *MAKING ALL DECISIONS
DOING SOMETHING YOU ENJOY *BEING RECOGNIZED IN THE COMMUNITY
BEING CREATIVE
SETTING OWN HOURS/SCHEDULE
HAVING JOB SECURITY
KEEPING ALL THE PROFITS
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Risks/Disadvantages of Entrepreneurship WORKING LONG HOURS
UNCEERTAIN INCOME
LONELINESS
BEING FULLY RESPONSIBLE
RISKING YOUR INVESTMENT
SOLE LIABILITY
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RISKING ONE’S INVESTMENT
Because of intense Competition, business ownership can be a difficult undertaking
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RISKING ONE’S INVESTMENTThe biggest risk of being in a business is the possibility of losing your investment.
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What Does It Take To Be An Entrepreneur?Objectives:
Identify the background, characteristics, and skills of successful entrepreneurs
Explain techniques that will improve your potential for becoming and entrepreneur
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What Does It Take?Main idea: Before going into business, you should determine the
characteristics and skills needed to reach your goal of being successful.
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Who Are Entrepreneurs?They are important to a nation’s economy. Why?
Researchers have done studies to see if they have any similar traits, experiences and skills.
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BackgroundMany entrepreneurs were influenced early in life by a Role Model.
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Twelve Characteristics of Successful Entrepreneurs
Section 2.2 What Does It Take to Be an Entrepreneur? 12
persistent
creative
responsible
inquisitive
goal-oriented
independent
self-demanding
self-confident
risk-taking
restless
action-oriented
enthusiastic
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Ten Essential Entrepreneurial SkillsResearchers have identified 10 foundation skills
needed to be a successful entrepreneur.
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Ten Essential Entrepreneurial Skills
Section 2.2 What Does It Take to Be an Entrepreneur? 14
communication
math
problem-solving
technology and computer
decision-making
organizing and planning
teamwork
social
adaptability
basic business
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Build Your Potential As An EntrepreneurSuccessful Entrepreneurs Often Fit a Certain Profile
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Strengthen Your Entrepreneurial Characteristics• Reading• Writing• Observing• Solving
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Develop Your Entrepreneurial Skills
Section 2.2 What Does It Take to Be an Entrepreneur? 17
Learn the techniques needed to use the skill.
Put the skill to work in real-life situations.
Ask yourself if you get the results you want; if not, determine how you can improve.