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Your Potential As An Entrepreneur

Your Potential As An Entrepreneur. Why Be an Entrepreneur?. Objectives: Identify the rewards of going into business for yourself. Recognize the risks of going into business for yourself. The Main Idea.

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Your Potential As An Entrepreneur

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  1. Your Potential As An Entrepreneur

  2. Why Be an Entrepreneur? Objectives: Identify the rewards of going into business for yourself. Recognize the risks of going into business for yourself

  3. The Main Idea When you consider going into business for yourself, an important first step is to analyze the advantages and disadvantages of entrepreneurship.

  4. 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

  5. Risks/Disadvantages of Entrepreneurship • WORKING LONG HOURS • UNCEERTAIN INCOME • LONELINESS • BEING FULLY RESPONSIBLE • RISKING YOUR INVESTMENT • SOLE LIABILITY

  6. RISKING ONE’S INVESTMENT Because of intenseCompetition, business ownership can be a difficult undertaking

  7. RISKING ONE’S INVESTMENT The biggest risk of being in a business is the possibility of losing your investment.

  8. 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

  9. 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.

  10. 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.

  11. Background Many entrepreneurs were influenced early in life by a Role Model.

  12. Twelve Characteristics of Successful Entrepreneurs persistent self-demanding creative self-confident responsible risk-taking inquisitive restless goal-oriented action-oriented independent enthusiastic Section 2.2 What Does It Take to Be an Entrepreneur? 12

  13. Ten Essential Entrepreneurial Skills • Researchers have identified 10 foundation skills needed to be a successful entrepreneur.

  14. Ten Essential Entrepreneurial Skills communication organizing and planning math teamwork problem-solving social technology and computer adaptability decision-making basic business Section 2.2 What Does It Take to Be an Entrepreneur? 14

  15. Build Your Potential As An Entrepreneur • Successful Entrepreneurs Often Fit a Certain Profile

  16. Strengthen Your Entrepreneurial Characteristics Reading Writing Observing Solving

  17. Develop Your Entrepreneurial Skills 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. Section 2.2 What Does It Take to Be an Entrepreneur? 17

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