What is an
Entrepreneur?
Brain Teaser
Could you connect the 9 dots with 4 connecting lines ?
Don’t lift your writing instrument off the paper!
Brain Teaser
People often assume that you must stay within the “box” created by the
dots.
Think outside the box…literally.
Brain Teaser #2
Had you made any assumptions about what the definition of a “line” is?
Every part of the problem/question can present a possible solution.
Nothing is impossible.
Consider every solution before deciding on the best solution.
Brain Teaser #2
Finally: Is it possible to do with 1 straight line without cutting the page?
Product Innovation Activity
In groups, use your assigned materials to
create a totally new product. Please
prepare to present your idea to the class
considering the following:
1. The name of your product
2. Who would be interested in this product
(age, male or female, needs, interests,
etc.)
What skills does it take to perform this activity?
Product Innovation Activity
Journal #4
• What did you learn from the activity
outside? Self and others.
• Could you use this ice breaker in your life?
How? Ex. As a manager of a retail store…
to get the employees to start working
together.
• How do you spell the E word?
•ENTREPRENEUR
Definition of an
Entrepreneur
Definition of an
Entrepreneur
NFTE’s Definition:
A person who organizes and
manages a business assuming the
risk for the sake of the potential
return.
Role of an Entrepreneur
• Value Creator
– Ex: Owner of the local deli
• Problem Solver
– Ex: Bill Gates, Technology
• Innovator
– Ex: Henry Ford, the assembly line
• Philanthropist
– Ex: Andrew Carnegie immigrant as a child
with his parents. He built Pittsburgh's Carnegie
Steel Company
• Job Creator
– Ex: Sam Walton’s Walmart employs
nearly 1 in every 123 Americans
Entrepreneur vs.
Employee
An Entrepreneur
An Employee
• Owns a business
• Doesn’t own a
• Does not have a boss
• Is responsible for the
success or failure of
the business
• Succeeds by
satisfying a consumer
need
business
• Works for someone
else
• Is responsible for
doing his or her job
• Succeeds by doing his
or her job
Advantages & Disadvantages
of being an Entrepreneur
Advantages
Disadvantages
Advantages & Disadvantages
of being an Entrepreneur
Advantages
Disadvantages
• Control Over Time
• Business Failure
• Satisfaction
• Obstacles
• Wealth Creation
• Loneliness
• Control Over
• Financial Insecurity
Compensation
• Control Over Working
Conditions
• Long Hours/Hard
Work
Characteristics of a
Success Entrepreneur
• Adaptability

Discipline
• Competitiveness

Perseverance
• Confidence

Risk-Taking
• Drive

Understanding
• Organization

Vision
• Persuasiveness

Honesty
Characteristics of a
Success Entrepreneur
• Adaptability
• Discipline
• Competitiveness
• Perseverance
• Confidence
• Risk-Taking
• Drive
• Understanding
• Organization
• Vision
• Persuasiveness
• Honesty
Aim of Business
• To add value to the lives of
consumers, the community and
the environment at a profit
• To create mutually beneficial
exchange
Aim of Business
• To add value to the lives of
consumers, the community and
the environment at a profit
• To create mutually beneficial
exchange
• Money is an important tool, not
the goal!
What types of people
become entrepreneurs?
• Many successful entrepreneurs started with little
money or education
• It is estimated that more than half of successful
entrepreneurs had parents who were
entrepreneurs
• 35% of individuals who start businesses are under
the age of 30
What types of people
become entrepreneurs?
• Most entrepreneurs start businesses in areas in
which they already have experience
• Most entrepreneurs finance their business through
personal savings
• Most entrepreneurs get start-up money from
friends and family
• The difference between women and men?
What types of people
become entrepreneurs?
Of the Inc500 “America’s fastest growing
private companies” in 2000:
– 16% started with less than $1,000
– 42% with $10,000 or less
– 58% with $20,000 or less
Inc. Magazine, 2000
What types of people
become entrepreneurs?
 Independently owned,
operated, and financed
 Less than 100 employees
 Doesn’t emphasize new
or innovative practices
 Little impact on industry
 Innovative practices
 Goals are profitability and growth
 Seeks out new opportunities
 Willingness to take risks
Ch. 5
Characteristics of the successful
Entrepreneur
What kind of people become
entrepreneurs?
• Many successful entrepreneurs start life
with very little money or education.
• Growing up in a difficult environment can
lead to what?
• Who do we blame when a child has taken
the wrong path?
Characteristics
• Characteristic- individual quality that may
make someone different from someone
else.
• Some people demonstrate these traits as
kids but no one is born with all the
characteristics.
• Is growing up in a difficult environment an
excuse for the “thugs” in the world?
• Michael Dyson and Everett Dyson
Characteristics of the successful
entrepreneur.
•
•
•
•
•
•
Adaptability
Competitiveness
Confidence
Drive
Honesty
Organization
•
•
•
•
•
•
Persuasiveness
Discipline
Perseverance
Risk taking
Understanding
Vision
Entrepreneurs are optimists
• You may have noticed that your day goes
better when you feel good about yourself.
• This is an optimistic, or positive, attitude.
• Entrepreneurs are optimists.
• They have to be in order to see
opportunities where others only see
problems.
• Problems = opportunities
Positive thinking is powerful
• Pay attention to your own thoughts.
• Are they mostly negative? Positive?
• Negative thoughts make you feel
powerless and depressed.
• Positive thoughts make you happy and full
of energy.
• When you catch yourself thinking negative
like “I’m really dumb”, replace it with
positive one, like “I’m smart and talented”.
Entrepreneur Activity
• In groups of 5-6 students choose a character and
discuss within your group if the character is:
A. an Entrepreneur or employee
– Give an example of how he/she is or is not
B. What characteristics does this character have of
an Entrepreneur? With example
C. What characteristics does this character not
have? With example
D. Would this character make a good
Entrepreneur?
Characters
•
•
•
•
•
•
•
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Angelica Pickles
Dora the explorer
Lisa Simpson
Mickey Mouse
Sponge Bob
Bart Simpson
Homer Simpson
Hey Arnold
• South Park
Character
• Daria
• American Dad
• Doug
• Tommy
• Stewie
• Peter Griffin
• Nemo