A Look At…
Entrepreneurship
Entrepreneurship
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What is an entrepreneur?
According to Webster’s dictionary, an
entrepreneur is a person who “organizes,
manages, and assumes the risks of a business.”
An entrepreneur is a builder—one who sees
an opportunity, sizes up the value, and finds
the resources to make the most of it.
An entrepreneur is visionary when looking
at ways to make his/her business grow.
An entrepreneur is one who seeks new
challenges and develops new ideas.
Why should we talk about
entrepreneurship?
Sound management, marketing
and financial techniques, certain
skills can help you become a better
business person. This success may
be realized through profits or
perhaps extra time for your
personal life.
Why should we talk about
entrepreneurship?
Entrepreneurial traits are
developed…not inherited.
One goal should be to recognize
the skills and habits of successful
business entrepreneurs and strive
to develop those skills.
A major challenge of any
business person is the
transition from an
individual with an idea to
that of a manager. There
are four stages of
transition:
Stage 1
 85% doing
 15% managing
Stage 2
 66% doing
 34% managing
Stage 3
 34% doing
 66% managing
Stage 4
 15% doing
 85% managing
What Are the Risks of
Entrepreneurship?
1. FAILURE: You must assume emotional and
financial risks of failure.
2. TIME: It takes a tremendous amount of time.
3. FAMILY: Because of the time factor, many
families suffer changes in life style.
4. MONEY: Entrepreneurs put a lot of their
own money at risk.
What Are the Rewards of
Entrepreneurship?
1. INDEPENDENCE: The freedom to act on our
own. You are your own boss.
2. MONEY: The financial reward is not limited
to normal work for normal pay.
3. FUN! Entrepreneurs describe what they do
as being fun.
Survey Time!
We will go over the terms before
filling in the survey. Pens and pencils
down on your desk.