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Overview of Entrepreneurship

Overview of Entrepreneurship. Overview of Entrepreneurship. An Entrepreneur: Acts with passionate purpose Desires independence Recognizes opportunity Manages risk and uncertainty Uses resources Creates value. Overview of Entrepreneurship. Acts with Passionate Purpose

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Overview of Entrepreneurship

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  1. Overview of Entrepreneurship

  2. Overview of Entrepreneurship An Entrepreneur: • Acts with passionate purpose • Desires independence • Recognizes opportunity • Manages risk and uncertainty • Uses resources • Creates value

  3. Overview of Entrepreneurship Acts with Passionate Purpose • Identifies consumer need • Assumes personal sacrifice • Seeks solutions • Acts decisively • Learns quickly • Pursues goal and results

  4. Overview of Entrepreneurship Desires Independence • Possesses drive to achieve and grow • Realizes strengths and weaknesses • Maintains a goal perspective • Invests long, irregular hours • Seeks personal satisfaction/profitability • Supports community activities

  5. Overview of Entrepreneurship Recognizes Opportunity • Identifies problems/strives for solutions • Possesses ability to adapt and change • Evaluates individual strengths to build teams • Adapts to changing marketplace • Analyzes and reacts to competition

  6. Overview of Entrepreneurship Manages risk • Invests personal savings and time • Segregates needs from wants • Chooses between debt and equity • Seeks knowledgeable investors • Implements bootstrapping techniques • Utilizes financial analysis tools

  7. Overview of Entrepreneurship Uses Resources • Recognizes people strengths • Capitalizes on communication skills • Designs facility based on needs • Finds cost-effective materials • Seeks financial backing • Implements innovative solutions

  8. Overview of Entrepreneurship Creates value! Small Businesses: • Provide nearly 75 percent of new jobs • Represent 99.7 percent of all employers • Employ 50.1 percent of private work force • Account for 39.1 percent of high tech jobs • Represent 97 percent of all U.S. exporters

  9. Overview of Entrepreneurship An Entrepreneur: • Acts with passionate purpose • Recognizes opportunity • Desires independence • Manages risk and uncertainty • Uses resources • Creates value

  10. Overview of Entrepreneurship Discussion Questions: • Name two local businesses that were established by entrepreneurs. • Discuss their products/services. • How do they stay competitive? • Write about their risks.

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