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Chapter 2

Chapter 2. Entrepreneurs and Enterprising People. Homework question from previous lesson. Last class you were asked to research 3 entrepreneurs. What were your findings?. Entrepreneurs. Agents of change They identify, measure and then minimize the risks associated with their ventures

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Chapter 2

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  1. Chapter 2 Entrepreneurs and Enterprising People

  2. Homework question from previous lesson • Last class you were asked to research 3 entrepreneurs. What were your findings?

  3. Entrepreneurs • Agents of change • They identify, measure and then minimize the risks associated with their ventures • Must set goals to help themselves stay on track • Spend a lot of time asking “what if?” and “why not?”

  4. Characteristics of Successful Entrepreneurs • Self-confident • Perceptive • Hard-working • Motivated • Resourceful • Able to manage risk • creative

  5. Characteristics of Successful Entrepreneurs…con’td • Goal-oriented • Optimistic • Flexible • Independent • Visionary • Able to get along with others • DO ANY OF THESE SOUND LIKE YOU?

  6. Entrepreneurial Skills • Communicate-listen, speak, and write • Generate ideas • Identify opportunities • Plan • Organize • Make decisions • Solve problems

  7. Entrepreneurial skills…con’td • Negotiate • Market their ideas • Keep records (financial and others) • Lead others • Although these skills can be learned, many entrepreneurs recognize that it is sometimes more effective to hire talented, enterprising people

  8. What makes an entrepreneur tick? • Entrepreneurs are motivated by a number of different factors: • Most important- • To achieve a sense of personal accomplishment • To be my own boss • To have an element of variety and adventure • To make better use of my training and skills • To have considerable freedom to adopt my own approach to work • To be challenged by the problems and opportunities of starting and growing a new business venture

  9. What makes an entrepreneur tick?...con’td • Least important: • To continue a family tradition • To do the only thing I could • To contribute to the welfare of my ethnic group • To leave an insecure work environment • To follow the example of a person I admire

  10. Enterprising People • Enterprising people are similar to entrepreneurs in many ways. • They exhibit many of the same characteristics we talked about in previous slides • They are different, however, because they often do not like to take financial risks. They often continue to work for other people. • Companies often hire enterprising people because they have the same creativity and hard-working attitude as enterpreneurs, but choose to work within an organization.

  11. Classwork: • Assume you are going to be an entrepreneur. Describe what your life would be like. Consider hours of work, income, family needs, leisure time, commitment to your employees, business travel, leisure travel, household responsibilities, and community responsibilities.

  12. Homework: • Research 3 entrepreneurs who have started new ventures. What have they created? How did they start? • What are some of the characteristics that you believe are common to all 3 of the people you have researched?

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